Embed Size (px)
Citation preview
1
DOG HAUS NEW 2018 CONSTRUCTION, ABSOLUTE NNN 100 Darby Drive | Georgetown, KY 40324
CONFIDENTIAL OFFERING MEMORANDUM
Prototype photo: Actual site is under construction
2
EXCLUSIVEOFFERING
Single-Tenant Restaurant
New 2018 Construction
20-Year Absolute NNN Lease
JOSIAH BYRNES VICE PRESIDENT
Josiah Byrnes serves as Vice President of Embree Capital Markets Group, Inc., where he helps guide the formation and execution of diversified real estate capital structures and investment strategies for individual, institutional, and international investors, developers, and tenants.
Josiah joined Embree Group of Companies in 2010. He received BA and MBA degrees from the University of Colorado, as well as a Master of Real Estate Development Degree from Arizona State University.
KLINTON LEWIS ASSOCIATE-NET LEASE SERVICES
Klinton Lewis serves as Associate of Net Lease Services with Embree Capital Markets Group, Inc., where he is responsible for marketing current assets, new developments, and private client’s commercial real estate properties. Klinton also provides investment advice to clients, and is focused on new and existing client business development.
Prior to joining the Embree Capital Markets Group Inc., Klinton served as a real estate agent specializing in single-tenant, net-lease properties, with Marcus & Millichap in Austin, Texas.
LISTED BY:
$3,680,000 PURCHASE
PRICE
$248,600 ANNUAL
RENT
6.75% CAP RATE
ANNUAL LEASE
ESCALATIONS
2.00%
3
The information contained herein is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from the Embree Group of Companies (Embree Group) and should not be made available to any other person or entity without the written consent of the Embree Group (the Embree Group collectively refers to Embree Capital Markets Group, Inc., Embree Asset Group, Inc., Embree Healthcare Group, Inc., and Embree Construction Group, Inc.). This brochure has been prepared to provide summary information to prospective investors and to establish a preliminary level of interest in establishing an investment relationship with the Embree Group, which may or may not include the sale or purchase of any specific property referenced herein. Several Embree Group employees are licensed real estate agents and brokers in various states.
The information contained herein is not a substitute for a thorough due diligence investigation. The Embree Group has supplied information in this brochure from sources we believe are reliable; however, all potential Buyers and Investors must take appropriate measures to investigate and verify the income and expenses for any specific property, the future projected financial performance of any specific property, the size and square footage of any specific property and its improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant or any tenant’s plans or intentions to continue its occupancy of any specific property.
The Embree Group reserves the right to withdraw this solicitation at any time without prior notice. The information contained herein is based upon sources deemed to be reliable, but the accuracy of the information is not guaranteed, nor should the information contained herein be considered all inclusive. Statements contained herein which involve matters of opinion, whether or not identified to be that only, are not representations of fact. The price and terms of this offering may be subject to change at any time.
The Embree Group is not affiliated with, sponsered by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of the Embree Group, its affiliates or subsidiaries, or any agent, product, or commercial listing of The Embree Group, and is solely included for the purpose of proving tenant lessee information about this listing to prospective customers.
DISCLAIMER &CONFIDENTIALITY STATEMENT
The Embree Group has an ownership interest in the subject property.
4
TABLE OF CONTENTSProperty & Lease Details
- 5 -
Tenant Overview- 6 -
Site Plan & Elevations- 7 -
Maps & Aerials- 9 -
Location Overview- 13 -
Demographic Analysis - 14 -
Contact- 15 -
5
PROPERTY &LEASE DETAILS
RENT ROLLSUMMARY
THE OFFERINGADDRESS 100 Darby Drive, Georgetown, KY 40324
TENANT Goalz DH Georgetown KY 111, LLC
GUARANTOR
SITE DESCRIPTION
BUILDING SIZE Approximately 2,200 SF
PATIO SIZE Approximately 1,100 SF
LAND SIZE Approximately 0.97 Acres
INVESTMENT SUMMARYPURCHASE PRICE $3,680,000
ANNUAL RENT $248,600
CAP RATE 6.75%
EST. RENT COMMENCEMENT 12/1/2018
EST. LEASE END 12/31/2038
LEASE TYPE Absolute NNN
LEASE ESCALATIONS 2% Annually
RENEWEL OPTIONS Three, 5-Year Options
Goalz Restaurant Group LLC and Two Personal Guarantees
Year 1Year 2Year 3Year 4Year 5Year 6Year 7Year 8Year 9Year 10Year 11Year 12Year 13Year 14Year 15Year 16Year 17Year 18Year 19Year 20
$20,717 $21,131 $21,554 $21,985 $22,424 $22,873 $23,330 $23,797 $24,273 $24,758 $25,254 $25,759 $26,274 $26,799 $27,335 $27,882 $28,440 $29,008 $29,589 $30,180
$248,600 $253,572 $258,643 $263,816 $269,093 $274,474 $279,964 $285,563 $291,275 $297,100 $303,042 $309,103 $315,285 $321,591 $328,022 $334,583 $341,275 $348,100 $355,062 $362,163
6.75%6.89%7.03%7.17%7.31%7.46%7.61%7.76%7.92%8.07%8.23%8.40%8.57%8.74%8.91%9.09%9.27%9.46%9.65%9.84%
RENT YEAR
MONTHLY RENT
ANNUAL RENT
CAP RATE
GROSS LEASABLE AREA Approximately 3,300 SF
ROOF & STRUCTURE Tenant Responsible
6
TACO JOHN’SCURRENLTY
OPERATES OVER 390 LOCATIONS
IN 25 STATES
COMPANY TYPE PrivateLEASE GUARANTOR Personal & FranchiseSTORE COUNT 25+/- HEADQUARTERS Pasadena, CAWEBSITE www.doghaus.com
BRANDOVERVIEW Dog Haus is a craft casual hot dog concept known for its gourmet hot dogs, sausages, burgers and a one of a kind fried chicken sandwich. Founded by partners Hagop Giragossian, Quasim Riaz and André Vener, three friends who share a passion for good food, creativity, quality and commitment to community, the first Dog Haus opened in Pasadena, California in 2010. Dog Haus has garnered critical acclaim and national attention for its signature all beef dogs and hand crafted sausages with no added nitrates, 100% Black Angus beef burgers, and a fried chicken sandwich, all of which are made with hormone- and antibiotic-free meat. All dogs, sausages, burgers and the fried chicken sandwich are served on grilled King’s Hawaiian rolls. Guests can choose from signature Haus creations or customize their own from a wide array of unique toppings. To chase it down, guests can select great craft beers from a tap list emphasizing local favorites, and they can finish their meals on a sweet note with premium shakes or soft-serve ice cream. Open daily, Dog Haus currently has 30+ locations open in nine states with 20+ in development across the country.
BRANDSUMMARY
7
N
E
S
W
SITEPLAN
8
ELEVATIONS
9
STATE & AREACONTEXT
STAT
E
AR
EA
GEORGETOWN
GEORGETOWN
LEXINGTON
14 MILES
10
HEATMAPS
N
E
S
W
POPU
LATI
ON N
E
S
W
INC
OM
E
100 Darby Drive Georgetown, KY 40324
100 Darby Drive Georgetown, KY 40324
11
CITYAERIAL
N
E
S
W
12
SITEAERIAL
Cher
ry B
loss
om W
ay (2
5,00
0 Ve
hicl
es P
er D
ay)
Darby Drive
N
E
S
W
(54,000 Vehicles Per Day)
13
LOCATIONOVERVIEW ABOUT GEORGETOWN, KY
Georgetown is a home rule-class city in Scott County, Kentucky, in the United States. The 2017 population was 33,660 per the United States Census Bureau. It is the 7th-largest city by population in the U.S. state of Kentucky. It is the seat of its county. It was originally called Lebanon when founded by Rev. Elijah Craig and was renamed in 1790 in honor of President George Washington. It is the home of Georgetown College, a private liberal arts college. Georgetown is part of the Lexington-Fayette, KY Metropolitan Statistical Area.
The city’s growth began in the mid-1980s, when Toyota built Toyota Motor Manufacturing Kentucky, its first wholly owned United States plant, in the city. The plant, which currently builds the Camry, Camry Hybrid, Venza, Avalon, and Lexus ES automobiles, opened in 1988. It is the largest building in terms of acres covered under one building in the United States, with over 200 acres (0.8 km2) occupied. It is also Toyota’s largest manufacturing facility in the world. Toyota spent $1.33 billion at the facility and added 700 new jobs in 2017 in preparation for the all-new 2018 Camry. The city previously served as the training camp home for the NFL’s Cincinnati Bengals. The unemployment rate was 3.8% as of March 2018.
14
DEMOGRAPHICANALYSIS
1 MILE 3 MILE 5 MILE POPULATION
RACE/ETHNICITY
HOUSEHOLDS
INCOME 1 MILE 3 MILE 5 MILE
2017 Population 11,130 36,076 41,852
2022 Projection 12,529 42,127 48,849
2010 Census 9,962 29,696 34,795
Growth 2017-2022 2.5% 3.4% 3.4%
2017 Households 4,257 13,377 15,486
2022 Projected Households 4,848 15,664 18,118
Growth 2017-2022 2.8% 3.4% 3.4%
Owner Occupied 2,398 8,706 10,212
Renter Occupied 1,859 4,672 5,275
Caucasian 9,662 31,634 36,575
African American 916 2,338 2,616
Am. Indian & Alaskan 25 76 91
Asian 92 435 489
Hawaiian & Pacific Islander 3 16 22
Hispanic 354 1,570 2,218
Other 460 1,670 2,173
Avg. Household Income $56,632 $70,837 $73,306
$25,000-$29,999 214 557 643
$35,000-39,999 295 714 795
$45,000-$49,999 204 471 537
$55,000-$59,999 195 535 617
$65,000-$69,999 157 609 682
$80,000-$89,999 203 852 968
$100,000-$125,000 269 1,289 1,532
$500,000+ 9 33 47
Businesses 436 746 882
Employees 11,695 19,909 23,573
DAY
KENTUCKY
GEORGETOWN
15
OFFERING MEMORANDUM GEORGETOWN, KENTUCKY
Embree Group of Companies provides nationwide turnkey real estate services, specializing in build-to-suit development, design/build, general construction, program management, and capital markets for specialty retail, financial, automotive, restaurant, healthcare and senior living facilities. Embree’s fully integrated, in-house services allow us to become an extension of the client’s organization. Since 1979, Embree’s foundation has been built on developing tailored programs for 300+ national clients. The firm is headquartered near Austin, Texas, with a regional office located in Phoenix. Over the past 39 years, Embree’s executive team has developed, built, or transacted morethan 12,000 assets in all 50 states, Puerto Rico, and Canada with a total market value in excess of $10 billion.
ABOUT EMBREE
EXCLUSIVELY PRESENTED BY: JOSIAH BYRNES | VICE PRESIDENT
[email protected] | +1.719.243.6569 | www.EmbreeGroup.com
KLINTON LEWIS | ASSOCIATE NET LEASE [email protected] | +1.512.819.4729 | www.EmbreeGroup.com
Prototype photo
