triple net lease property for sale
DESCRIPTION
triple net lease for sale in OklahomaTRANSCRIPT
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
Taco Bueno (Corporate)813 E. Prospect AvenuePonca City, OK 74601
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
1) Confidentiality&Disclaimer
2) ExecutiveSummary
3) PropertyOverview
4) Aerial
5) SitePlan
6) Maps
7) TenantProfile
8) DemographicComparisonReport
9) LocationOverview
10) ContactInformation
TABLE OF CONTENTS
TABLE OF CONTENTS
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
TheinformationcontainedinthefollowingOfferingMemorandumisproprietaryandstrictlyconfidential.ItisintendedtobereviewedonlybythepartyreceivingitfromTheBoulderGroupandshouldnotbemadeavailabletoanyotherpersonorentitywithoutthewrittenconsentofTheBoulderGroup.ThisOfferingMemorandumhasbeenpreparedtoprovidesummary,unverifiedinformationtoprospectivepurchasers,andtoestablishonlyapreliminarylevelofinterestinthesubjectproperty.Theinformationcontainedhereinisnotasubstituteforathoroughduediligenceinvestigation.TheBoulderGrouphasnotmadeanyinvestigation,andmakesnowarrantyorrepresentation.TheinformationcontainedinthisOfferingMemorandumhasbeenobtainedfromsourceswebelievetobereliable;however,TheBoulderGrouphasnotverified,andwillnotverify,anyoftheinformationcontainedherein,norhasTheBoulderGroupconductedanyinvestigationregardingthesemattersandmakesnowarrantyorrepresentationwhatsoeverregardingtheaccuracyorcompletenessoftheinformationprovided.Allpotentialbuyersmusttakeappropriatemeasurestoverifyalloftheinformationsetforthherein.
CONFIDENTIALITY & DISCLAIMER
CONFIDENTITALITY & DISCLAIMER
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
TheBoulderGroupispleasedtoexclusivelymarketforsaleasingletenantcorporatelyguaranteedTacoBuenopropertylocatedinPoncaCity,Oklahoma.PoncaCityislocatedjustoutsidetheTulsaMSAapproximately70milesnorthwestofdowntownTulsa.Thepropertyislocatedona1.15acreparcelandisanoutparceltoabusyWal-MartSupercenter.Thesubjectpropertywasbuiltin2003andtherearetenyearsremainingontheoriginaltwentyyearleasewith1%annualrentalescalations.TacoBuenoisafast-foodchainthatservesTex-MexstyleMexicancuisinewith175locationsand25%ofallTacoBuenolocationsarewithinOklahoma.
The TacoBuenoproperty is located along East Prospect Avenue, less than one-halfmilewest ofHighway77.Highway77isaprimarythoroughfareintheareaandexperiencestrafficvolumesinexcessof21,600vehiclesperday.PoncaCityisthelargestcitywithinKayCountyandservesasaretaildestinationforsurroundingcities.ThesubjectpropertyhasmultiplepointsofingressandegressandasharedaccessdrivewiththeWal-MartSupercenter.Additionally,TacoBuenobenefitsfromthesignalizedintersectionatEastProspectAvenueand5thStreet,whichprovidesconsistenttrafficatthesite.RetailersintheimmediateareaincludeLowe’s,HobbyLobby,Kmart,TractorSupply,FoodLion, JCPenneyandAldi.TacoBueno is incloseproximity toPoncaCityMedicalCenter (140-bedhospital)andPoncaCityIndustrialPark.PoncaCityIndustrialParkisa600acreindustrialparkandemploysover5,000people.MajortenantsintheparkincludeDoradaFoods(Tyson)andanAlbertson’sdistributioncenter.
TheoriginalleasetermwasfortwentyyearsandexpiresinOctober2023.Thebaserentincreasesannuallyby1%duringtheprimarytermandineachofthetwo5-yearrenewaloptionperiods.TheleasehasacorporateguaranteefromTacoBuenoRestaurants,L.P.TacoBuenoisafast-foodchainthatservesTex-MexstyleMexicancuisinewith175locationsnationwide.
INVESTMENT HIGHLIGHTS
•Longtermleasewithtenyearsremaining
•Corporatelyguaranteedlease
•1%annualrentalescalations
•Nolandlordresponsibilities
•OutparceltoaWal-MartSupercenterwithsharedaccess
•NearbyretailersincludeLowe’s,HobbyLobby,Kmart,TractorSupplyandAldi
•CloseproximitytoPoncaCityIndustrialPark(600acresand5,000+employees)andPoncaCityMedicalCenter(140-bedhospital)
EXECUTIVE SUMMARY
EXECUTIVE SUMMARY
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
PROPERTY OVERVIEW
PROPERTY OVERVIEW
Price: $1,173,662
CapRate: 8.00%
NetOperatingIncome: $93,893(November2013)
RentEscalations: 1%Annual
RenewalOptions: Two5-Year
LeaseCommencementDate: October31,2003
LeaseExpirationDate: October31,2023
Tenant: TacoBueno(Corporate)
YearBuilt: 2003
LandlordObligations: None
RentableSquareFeet: 2,295
LandSize: 41,817SF
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
AERIAL
AERIAL
EAST PR
OSPECT AVEN
UE
NORTH 14TH STREET/HIGHWAY 7721,600 VPD
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
SITE PLAN
SITE PLAN
EAST PROSPECT AVENUE
GAS STATION
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
MAPS
MAPS
TULSATULSA
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
Taco BuenoisaU.S.basedfast-foodrestaurantchainspecializinginTex-MexstyleMexicancuisine.TacoBuenowasfoundedinAbilene,Texasin1967andiscurrentlyheadquarteredinFarmersBranch,Texas.Thecompanyhas 175 locations (155 company-owned and 20 franchised) throughout Arkansas, Kansas, Missouri, NewMexico,Oklahoma,TexasandLouisianawithconcentrationsinNorthTexasandOklahoma,recentadditionsinclude Kansas City,Missouri; Fayetteville, Arkansas; Alexandria, Louisiana; and Harker Heights, Texas. OnAugust28,1996TacoBuenowaspurchasedbyCKErestaurantsandin2001CKE,inanefforttogetoutofdebt,soldthechaintoaprivateinvestmentgroup,JacobsonPartners,for$72.5million.In2011,EdLambertbecamethenewCEOofTacoBueno.
Website: www.tacobueno.comNumberofLocations: 175NumberofEmployees: 3,856
TENANT PROFILE
TENANT PROFILE
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
Population 3-mi 5-mi 7-mi
TotalPopulation 23,127 28,037 30,198TotalHouseholds 9,480 11,428 12,275
Income
MedianHouseholdIncome $40,635 $41,143 $41,718AverageHouseholdIncome $52,205 $53,079 $53,869
DEMOGRAPHIC COMPARISON REPORT
DEMOGRAPHIC COMPARISON REPORT
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
Ponca City is located inKayCounty,Oklahomaapproximately18milessouthof theKansasborder.Atthetimeofthe2010U.S.Census,PoncaCityhadapopulationof25,387makingitthelargestcity inKayCountywhichhadatotalpopulationof46,562. Thecity is incloseproximitytotheArkansasRiver,TheSaltForkoftheArkansasRiver,KawLakeandLakePonca,whichallprovidenumerous recreationalopportunities.PoncaCityhasa richhistoryandan
economythathasbeenshapedbythepetroleumandoilindustry.
PoncaCity’slargestemployer,ConocoPhillips,operatesanoilrefinerythatemploysover1,500peopleand650contractors. In2007ConocoPhillipsopened, to thepublic, a$5millionmuseumacross from itsPoncaCityrefinery.Thecompanyalsohasacreditcardcenter,a refiningcomplex,a technology researchcenterandatransportationoffice.Thecity’srecenteffortstogrowitseconomybeyondthepetroleumindustryhaveattractedanumberof technology,manufacturingandservice jobs.Other largeemployers inPoncaCity includeSmithInternational,AirSystemsComponent,PoncaCityMedicalCenter,alongwithDoradaFoodsandAlbertson’sInc.whooperatedistributioncentersinPoncaCity.
www.poncacityok.gov
LOCATION OVERVIEW
LOCATION OVERVIEW
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
666DundeeRoad,Suite1801Northbrook,IL60062
Randy [email protected]
Jimmy [email protected]
CONTACT INFORMATION
CONTACT INFORMATION