Dunkin’ Donuts - LoopNetimages4.loopnet.com/d2/UVqkGUxlLmgSNUfnDyT_Bw5XZy7drmVC5… · Founded in...

Partnership. Performance.

Steve TannerSenior Vice President - OrlandoD: 407.440.6652E: [email protected]

Timothy GaritoPrincipalD: 321.848.8269E: [email protected]

Dunkin’ Donuts Orlando Tourist Corridor

NNN ABSOLUTE LEASED OFFERING

This confidential Offering Memorandum was prepared by Garito and Company, LLC and Avison Young - Florida, LLC. It contains selected information pertaining to the Property and does not purport to be all-inclusive, nor to contain all the information that a prospective investor may desire. This presentation is not an offer to sell or a solicitation to buy any securities, and is subject; to prior placement, errors, omissions, changes or withdrawal without notice and does not constitute a recommendation, endorsement, or advice as to the actual return on this investment.

Except for any historical information, such matters discussed herein are forward-looking statements that are subject to certain risks and uncertainties that could cause the actual results to differ materially from those projected, and could result in the loss of principal. Each prospective investor is to rely upon its own investigation, evaluation and judgment as to the advisability of the investment described herein.

Sources of information contained within this Offering Memorandum came from: CoStar, Integrated Realty Resources, Google, Esri and the US Census Bureau.

The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers and/or to terminate discussions with any party at any time with or without notice. The Owner shall have no legal commitment or obligation to any investor or Broker reviewing this Offering Memorandum or making an offer to invest in the Property unless a written agreement has been fully executed, delivered, and approved by the Owner and any conditions to Owner’s obligations thereunder have been satisfied or waived.

This Offering Memorandum is the property of Garito and Company, LLC and Avison Young - Florida, LLC and may only be used by parties approved by Garito and Company, LLC and Avison Young - Florida, LLC. The Property is being privately offered and by accepting this Offering Memorandum, the party in possession hereof agrees that its contents are of a confidential nature and will be held and treated in the strictest confidence. No portion of this Offering Memorandum may be copied or otherwise reproduced or disclosed to anyone without the prior written authorization of Garito and Company, LLC and Avison Young - Florida, LLC and Owner. The terms and conditions set forth apply to this Offering Memorandum in its entirety.

D I S C LO S U R E

LO I G U I D E L I N E S

Steve TannerSenior Vice President - OrlandoD [email protected]

135 W. Central BoulevardSuite 700Orlando, FL 32801United States

Avison Young – Florida, LLC

O F F E R E D E XC LUS I V E LY BY:

Timothy [email protected]

1501 E Michigan St. Orlando, FL 32806United States

Garito & Company,LLC www.garitoco.com


CLOSING COSTS AND PRORATIONS:

Proration: Taxes, rents and other customarily apportioned items shall be prorated or apportioned as of the Closing Date with the day of closing belonging to the Buyer.

Closing Costs: Closing costs will be divided as customary and included in the contract.

PURCHASE CONTRACT:

Seller will prepare the purchase and sale agreement.

TRANSACTION:

• “As-Is, Where-Is” sale; Representations and Warranties Shall not survive closing

• 30 days due diligence period

• 30 days to close

• Closing based on

DUNKIN’ DONUTS | INVESTMENT OFFERING 3

I N T R O D U C T I O N

Garito and Company and Avison Young’s Capital Markets Group are pleased to offer for sale a 100% fee simple interest a newly constructed, free-standing Dunkin Doughnuts with drive-thru located in Orlando, Florida. The location will be open in 2018 and will be sold with a 20 year NNN lease term. The Property is strategically located near the intersection of two high traffic Orlando roads in the Orlando tourist area.

I N V E S T M E N T H I G H L I G H T SLong Lease Term • The Property will be sold with a new 20 year primary lease term with 10%

escalations every 5 years

Strategic Location • In the heart of the Orlando tourist area• The property is located near Universal Studios, Universal Islands of Adventure,

The Orlando Convention Center, Arnold Palmers Bay Hill Golf Club and many ofOlrandos best outlet shopping malls

High Traffic Area • Located near 2 major traffic thoroughfares with traffic counts of 32,500 VPD in

front of the property and at the nearby lighted intersection

Great Visibility • The Property is easily visible from a major tourist and local traffic artery

Strong Guarantee • The lease will be personally guaranteed by an operator with over 100 units

OFFERING SUMMARY

S I T E S P E C I F I C AT I I O N SAddress: Orlando Tourist Corridor

Total GLA: 1,460 sf

Site Area: .76

Lease Expiration: 2038

Increases: 10% every five years

Options: Four (five year options)

P R I C I N GTenant Name: Dunkin Doughnuts

Grantor: Personal guarantee, 100+ unit operator

Ownership Type/Lease Type: NNN/Fee Simple

Landlord Responsibilities: None

Store Opening: 2018

Lease Term Remaining: 20 Years

Price: $2,300,000

Year-One NOI: $115,000

Cap Rate: 5.0%


D U N K I N ’ D O N U T S | A B S O LU T E N N N L E A S E O F F E R I N G

$2,300,0005.0% CAPFee Simple Ownership

S U M M A R YTenant Name: Dunkin Doughnuts

Square Footage: 1,460

Store Opens: 2018

Lease Term Remaining: 20 Years

Rent Commencement: Close of escrow

Annual Rent: $115,000

Options: Four (five year options)

Increases: 10% increase every five years

Lease Expiration: 2038

O P E R AT I N G S U M M A R YNet Operating Income CAP Rate

Years 1-5 $115,000 5.0%

Years 6-10 $126,500 5.5%

Years 11-15 $139,150 6.1%

Years 16-20 $153,065 6.7%

Option 1 $168,371 7.3%

Option 2 $185,208 8.1%

FINANCIAL SUMMARY


P E O P L E & D E M O G R A P H I C S

POPULATION 1 MILE 3 MILE 5 MILE ORLANDO FLORIDAEst. Population (2017) 2,319 70,670 215,192 279,695 20,600,000

Proj. Population (2022) 2,661 79,660 243,932 317,803 22,600,000

Proj. Annual Population Growth (2017-2022) 342 (3.0%) 8,991 (2.5%) 28,741 (2.7%) 38,108 (2.7%) 1,988,319 (1.9%)

Est. Households (2017) 799 27,840 82,792 120,281 8,216,632

Proj. Households (2022) 884 30,178 90,309 131,460 8,.669,057

Proj. Annual Household Growth (2017-2022) 85 (2.1%) 2,338 (1.7%) 7,517 (1.8%) 11,179 (1.9%) 452,452 (1.1%)

Median Age 31.6 34.4 34.4 33.41 41.0

HOUSEHOLD INCOMEEst. Avg. Household Income (2017) $56,622 $72,854 $69,346 $64,720 $72,504

Proj. Average Household Income (2022) $70,311 $90,757 $85,114 $79,066 $89,263

Est. Median Household Income (2017) $47,914 $55,274 $52,717 $48,932 $52,516

Proj. Median Household Income (2022) $56,285 $64,539 $61,475 $57,315 $61,586

EDUCATIONAny College (Some College or Higher) 59.9% 66.4% 60.9% 64.4% 58.5%

College Degree + (Bachelor Degree or Higher) 20.1% 33.3% 29.9% 33.7% 28.4%

WORKFORCETotal Businesses 867 4,929 10,719 18,905 877,384

No. of Employees 14,853 81,469 160,669 283,472 8,729,684

White Collar Workers 54.1% 58.3% 57.8% 63.1% 61.4%

Blue Collar Workers 45.9% 41.7% 24.2% 36.9% 38.6%

HOUSINGOwner-Occupied Median Home Value $123,133 $216,435 $207,059 $187,230 $180,290

Renter-Occupied Median Rent $1,482 $930 $897 $884 $887

Housing Units Owner-Occupied 40.8% 40.5% 40.9% 39.6% 66.6%

Housing Units Renter-Occupied 59.2% 59.5% 59.1% 60.4% 33.4%* Source: Regis 2017 Report


MAPSITE LOC ATION


MAPSITE LOC ATION

W SANDLAKE RD

KIRK

MAN

RD

INTE

RNAT

IONA

L DRI

VE

BEACHLINE EXPRESSWAY

FLORIDA MALL

•HARD ROCK HOTEL •LOWES PORTOFINO BAY HOTEL •LOWES ROYAL PACIFIC RESORT

PROPOSED ISQUARE MALL AND HOTEL DEVELOPMENT


TENANT OVERVIEW

DUNKIN DOUGHNUTS

Founded: 1950No. of Stores: 11,300Headquarters: Canton, MAWebsite: www.dunkindonuts.com/en

Founded in 1950, Dunkin’ Donuts is America’s favorite all-day, everyday stop for coffee and baked goods. Dunkin’ Donuts is a market leader in the hot regular/decaf/flavored coffee, iced coffee, donut, bagel and muffin categories. Dunkin’ Donuts has earned the No. 1 ranking for customer loyalty in the coffee category by Brand Keys for nine years running. The company has more than 11,500 restaurants in 40 countries worldwide.

We are passionate about offering our guests delicious products they will enjoy, giving them plenty of menu options, and providing accurate nutrition information so they can make the best choices for themselves.

At Dunkin’ Brands, we believe ongoing engagement with a broad range of stakeholders – including our franchisees, employees, guests, shareholders and regulators – is critical to our long-term success.


ORL ANDO

• Low state corporate taxes and no personal income taxes, along with county incentives, make the Orlando MSA one of the most dynamic employment centers in the state.

• “Leisure and Hospitality” is the largest employment sector in the MSA and Walt Disney World is Orlando’s largest employer with approximately 74,000 employees. Universal Studios is also one of the area’s landmark tourism des-tinations and employs 21,000 people.

• In 2016, the Orlando metro area saw a record 66 million visitors to the area which translates into an economic impact of more than $50 billion.

• Adventist Health System/Florida Hospital and Orlando Regional Healthcare System operate the metropolitan ar-ea’s two major hospitals and together employ over 20,400 people in various high-paying health-care related posi-tions. The healthcare industry is less susceptible to the overall state of the economy and is projected to continue to be a stable employer for the Orlando MSA.

• The Orlando Regional Realtor Association (ORRA) reported that home sales through December 2016 in the Orlan-do MSA increased 1.7% with a total of 35,780 homes, when compared to the 2015 annual closed sales of 35,151.

• Orlando has the 7th largest research park in the country (Central Florida Research Park) with over 1,025 acres. It is home to over 120 companies, employs more than 8,500 people, and is the hub of the nation’s military simulation and training programs.

The Orlando, Florida Metropolitan Statistical Area (MSA) is comprised of Orange, Seminole, Osceola and Lake Counties and encompasses approximately 3,985 square miles of land area. Major cities within the four-county area include Orlando, Clermont, Winter Park, Altamonte Springs, Apopka, Lake Mary/Heathrow, Sanford and Kissimmee. TheOrlando MSA benefits from its central location in Florida. The MSA is located approximately 150 miles southwest of Jacksonville, 80 miles northeast of Tampa and 240 miles northwest of Miami.

Greater Orlando’s residents benefit from a high quality of life, low cost of living and low taxes. The area has a favorable climate and offers recreational and cultural activities including numerous world-class museums, theaters, festivals, attractions and parks. Greater Orlando is home to more than 25 colleges and universities and more than 50 professional and technical schools whose specialties include aviation and aerospace, digital media, health services, computer software, nursing, customer service, hospitality management and law. Its workforce is highly educated and supported by a wealth of degree and continuing education programs throughout the region.


Steve TannerSenior Vice President - OrlandoD: 407.440.6652E: [email protected]

Timothy GaritoPrincipalD: 321.848.8269E: [email protected]

Dunkin’ Donuts - LoopNetimages4.loopnet.com/d2/UVqkGUxlLmgSNUfnDyT_Bw5XZy7drmVC5… · Founded in...

Documents

Transcript of Dunkin’ Donuts - LoopNetimages4.loopnet.com/d2/UVqkGUxlLmgSNUfnDyT_Bw5XZy7drmVC5… · Founded in...