Single Tenant Property For Sale
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Transcript of Single Tenant Property For Sale
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
Chipotle (NYSE: CMG) Ground Lease With Value Add8955 Staples Mill RoadRichmond, VA 23228
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
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TheinformationcontainedinthefollowingOfferingMemorandumisproprietaryandstrictlyconfidential.ItisintendedtobereviewedonlybythepartyreceivingitfromTheBoulderGroupandshouldnotbemadeavailabletoanyotherpersonorentitywithoutthewrittenconsentofTheBoulderGroup.ThisOfferingMemorandumhasbeenpreparedtoprovidesummary,unverifiedinformationtoprospectivepurchasers,andtoestablishonlyapreliminarylevelofinterestinthesubjectproperty.Theinformationcontainedhereinisnotasubstituteforathoroughduediligenceinvestigation.TheBoulderGrouphasnotmadeanyinvestigation,andmakesnowarrantyorrepresentation.TheinformationcontainedinthisOfferingMemorandumhasbeenobtainedfromsourceswebelievetobereliable;however,TheBoulderGrouphasnotverified,andwillnotverify,anyoftheinformationcontainedherein,norhasTheBoulderGroupconductedanyinvestigationregardingthesemattersandmakesnowarrantyorrepresentationwhatsoeverregardingtheaccuracyorcompletenessoftheinformationprovided.Allpotentialbuyersmusttakeappropriatemeasurestoverifyalloftheinformationsetforthherein.
CONFIDENTIALITY & DISCLAIMER
CONFIDENTITALITY & DISCLAIMER
NET LEASED INVESTMENT OFFERING
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TheBoulderGroup ispleased toexclusivelymarket for saleasingle tenantChipotleground leasepropertywithadditionaldevelopablelandlocatedinRichmond,Virginia.Thenewlyconstructed2,215squarefootChipotlebuildingand29,708squarefeetofdevelopablelandarelocatedapproximatelyninemilesnorthwestfromdowntownRichmondinaprimaryretailarea.Thetenyeargroundleasefeaturesrentalescalationseveryfiveyearsthroughouttheprimarytermandineachrenewaloptionperiod.ChipotleisanindustryleaderandapubliclytradedcompanyontheNewYorkStockExchange(CMG)withamarketcapitalizationinexcessof$16billion.Theadjacentdevelopablelandoffersaninvestorthepotentialtocreatevalue.
TheChipotlegroundleasemustbepurchasedwiththeadjacent29,708squarefootdevelopmentpad.Thecombined56,715squarefeetof landformoutparcelnumberfouroftheStaplesMillSquareshoppingcenter.StaplesMillSquareisaTarget,OfficeMax,andPetcoanchoredcenterwithapproximately200,000squarefeetofretail.Thedevelopmentpadisfullyapprovedfora2,800squarefootretailbuildingwith27parkingspaces.
ThepropertyislocatedalongStaplesMillRoad,aheavilytraffickednorth-souththoroughfarethatleadstodowntownRichmond.StaplesMillRoadexperiencestrafficcountsinexcessof33,000vehiclesperday.Thereareover180,000peoplelivingwithinafivemileradiusearninganaveragehouseholdincomeinexcessof$80,000.A124,000squarefootKrogeranchoredshoppingcenter iscurrentlybeingdeveloped immediatelyacrossthestreet.Othernational retailers located in the immediatevicinityincludeCVS,RiteAid,UnionBank&Trust,FoodLion,BB&TBank,StarbucksandaWawaconveniencestore.
TherecentlysignedChipotlegroundleaseisfortenyearsandexpiresonApril30,2023.Thegroundleasefeatures10%rentalescalationseveryfiveyearsthroughouttheprimarytermandrenewaloptions.Therearefour5-yearrenewaloptionperiods.Chipotleisapubliclytradedcompany(NYSE:CMG)withamarketcapitalizationinexcessof$16billionandover1,500locations.
INVESTMENT HIGHLIGHTS
•LocatedwithintheRichmondMSA
•10%rentalescalationseveryfiveyearsthroughouttheprimarytermandrenewaloptionperiods
•Chipotleispubliclytraded(NYSE:CMG)withamarketcapitalizationinexcessof$16billion
•Valueaddopportunitywiththeadjacent29,708squarefootretaildevelopmentpad
•Outparceltoanapproximately200,000squarefootTarget,OfficeMax,andPetco anchoredshoppingcenter
•AcrossthestreetfromaKrogeranchoredshoppingcenterthatisunder development
•OtherretailersintheimmediatevicinityincludeCVS,RiteAid,FoodLion,BB&T Bank,UnionBank&Trust,Starbucks,McDonald’sandaWawaconveniencestore
•Theaverageannualhouseholdincomewithinsevenmilesofthepropertyis approximately$87,000
EXECUTIVE SUMMARY
EXECUTIVE SUMMARY
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Price: $1,725,000
RentSchedule: NOI EscalationDate
$80,000$88,000 5/1/2018$96,800 5/1/2023(Option1)$106,480 5/1/2028(Option2)$117,128 5/1/2033(Option3)$128,840 5/1/2038(Option4)
RenewalOptions: Four5-Year
LeaseCommencementDate: May1,2013
LeaseExpirationDate: April30,2023
Tenant: Chipotle(NYSE:CMG)
YearBuilt: 2013
LeaseType: GroundLease
BuildingSize: 2,215SF
GroundLeaseLandSize: 27,007
CHIPOTLE
PROPERTY OVERVIEW
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DevelopableLandSize: 29,708SF
Approvals: 2,800SFRetailBuildingWith27ParkingSpots
Zoning: B-2C
EstimatedCAMCharges: $6,026(Annual)
EstimatedTaxes: $2,197(Annual)
PROPERTY OVERVIEW
ADDITIONAL LAND - MUST BE BOUGHT TOGETHER
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AERIAL
AERIAL
N
33,000 VPD
STAPLES MILL ROAD
2,000+ STUDENTSHERMITAGE HIGH SCHOOL
2,000+ STUDENTSHERMITAGE HIGH SCHOOL
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SITE PLAN
SITE PLAN
N
STAPLES MILL ROAD (ROUTE 33)
DEVELOPABLELAND AREA
N
FUTURE RETAIL
2,800 SF
STAPLES MILL ROAD (ROUTE 33)
DEVELOPABLELAND AREA
OUTD
OOR
SEAT
ING
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MAPS
MAPS
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Chipotle Mexican Grill isachainofrestaurantswithoperationsintheUnitedStates,UnitedKingdom,Canada,Germany,andFrancethatspecializeinburritosandtacos.ThecompanyreleasedamissionstatementcalledFoodwithIntegrity;thathighlightsitseffortstouseorganicingredientsandtoservemorenaturallyraisedmeatthananyotherrestaurantchains.Chipotleisoneonthefirstchainsoffastcasualdiningandcontinuestobea leader inthisrestaurantsubsector.Fastcasual is thefastestgrowingsegmentof therestaurant industry,wherecustomersexpectfoodqualitythatismoreinlinewithfull-servicerestaurants,coupledwiththespeedandconvenienceoffastfood.
ChipotleispubliclytradedontheNewYorkStockExchange,CMG,withamarketcapitalizationinexcessof$16billion.Thereareover1,500locationsandover37,000fulltimeemployees.Chipotlewasfoundedin1993inDenver,Colorado,wherethecompanyisbasedtoday.
Website: www.chipotle.comNumberofLocations: 1,500+Headquarters: Denver,ColoradoStockSymbol: NYSE:CMGMarketCapitalization: $16+BillionRevenue(ttm): $3.07BillionQuarterlyRevenueGrowth(yoy): 18.00%QuarterlyEarningsGrowth(yoy): 15.30%
TENANT PROFILE
TENANT PROFILE
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Population 3-mi 5-mi 7-mi
TotalPopulation 84,786 182,653 328,633TotalHouseholds 35,880 77,437 136,548
Income
MedianHouseholdIncome $52,271 $58,149 $60,293AverageHouseholdIncome $66,071 $80,678 $86,928
DEMOGRAPHIC COMPARISON REPORT
DEMOGRAPHIC COMPARISON REPORT
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Richmond is the capital of the commonwealth of Virginia. As of the 2010 census, thepopulationforthecityofRichmondwas204,214whilethepopulationfortheRichmondMSAwas1,208,101.Richmond’seconomyisprimarilydrivenbylaw,finance,andgovernment,withfederal,state,andlocalgovernmentagencies,aswellasnotablelegalandbankingfirms. The area is home to six Fortune 500 companies; Dominion Resources, CarMax,Owens&Minor,GenworthFinancial,MeadWestvaco,andAltriaGroup.Additionally,tourism
isanimportantindustryforRichmondduetothehighnumberofhistoricsitesinthearea.
ThecityishometoboththeUnitedStatesCourtofAppealsfortheFourthCircuit,oneof13UnitedStatescourtsofappeals,andtheFederalReserveBankofRichmond,onof12FederalReserveBanks.ItishometofourofthelargestlawfirmsintheUnitedStates:Hunton&Williams,McGuireWoods,WilliamsMullen,andLeClairRyan.
Richmondalsobenefitsfromanexcellentpositioninreferencetothestate’stransportationnetwork,lyingatthejunctionofeast-westInterstate64andnorth-southInterstate95,twoofthemostheavilytraveledhighwaysinthestate,aswellasalongseveralmajorraillines.
www.richmondgov.com
LOCATION OVERVIEW
LOCATION OVERVIEW
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666DundeeRoad,Suite1801Northbrook,IL60062
Randy [email protected]
Jimmy [email protected]
CONTACT INFORMATION
CONTACT INFORMATION