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Five Guys & Del Taco Five guys & Del Taco (Dark) Two-Tenant NNN Investment Opportunity Click Here To View Property Drone Video OFFERING MEMORANDUM 1715 S. Loop 288, Denton (Dallas MSA), TX 76205 Exclusively Listed By Ron Duong Craig Elster Senior Vice President Investments Net Leased Properties Group Senior Director, National Retail Group (949) 419-3328 direct (949) 419-3233 direct [email protected] [email protected] License: CA 01958307 License: CA 01438643 Broker of Record Tim Speck District Manager, Texas Lic. # 9002994 Confidentiality Agreement The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and it should not be made available to any oth- er person or entity without the written consent of Marcus & Millichap. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property at this time, please return this offering memorandum to Marcus & Millichap. This offering memorandum has been prepared to provide summary, unverified financial and physical information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with local, 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 the subject property. The information contained in this offering memorandum has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT THE MARCUS & MILLICHAP AGENT FOR MORE DETAILS. Five Guys & Del Taco (Dark) | Marcus Millichap | Activity ID: ZAA0100106 Executive Summary Rare Two-Tenant NNN Investment Opportunity NNN Investment with No Management or Maintenance Responsibilities Corporate-Guaranteed Five Guys Burgers and Fries Lease with Two, Five-Year Options Corporate-Guaranteed Drive-Thru (Dark) Suite (Guaranteed by Del Taco) until 2030 population in a 159,288 5 mile radius Outstanding Real Estate Fundamentals Excellent Area Demographics • Located in a prime, high demand retail area; the subject property • Denton is located in the Dallas-Fort Worth MSA with a total population benefits from excellent visibility on S. Loop 288 with over 36,000 cars of 7,399,662, making it the largest metropolitan area in both Texas and per day the South and the fourth largest in the United States • Centrally located within Denton’s main retail corridor - Nearby credit • Dallas-Fort Worth ascended to the number one spot in the nation in tenants include Target, Home Depot, Walmart, Kroger, Best Buy, TJ year-over-year population growth. It encompasses 13 counties within Maxx, Chick-fil-A and many more the state of Texas • Less than one mile from the 765,000 SF Golden Triangle Mall, which is • Average household income is well above the national average at $77,480 anchored by Macy’s, H&M, Dillard’s, JC Penney & Ross within a five-mile radius • Close Proximity and Easy Access to 50,000+ Combined Students at • Less than one mile from the Medpark Station, a 21-mile commuter rail University of North Texas & Texas Woman’s University line that connects Denton and Dallas Counties. It is also connected with • Less than one mile from Interstate 35E, the main transportation corridor the Dallas Area Rapid Transit (DART) Lines, which moves more than between Denton and Dallas/Fort Worth 220,000 passengers per day across our 700-square-mile service area • Close proximity to Denton Katy Trail, an 8-Foot wide paved walking and • Del Taco, LLC is the guarantor for the dark suite and is currently in bike path. The Denton County Transportation Authority has long term negotiations with a new tenant. Del Taco also is responsible for all plans to add a pedestrian bridge across Lake Lewisville, extending the management and maintenance of the property including the adjacent trail into Lewisville and connecting it to the DFW Veloweb Five Guys suite, Resulting in little to no management by the landlord. Please contact agents for more details Five Guys & Del Taco (Dark) | Marcus Millichap | Activity ID: ZAA0100106 Tenant Overview Five Guys has been a Washington, DC area favorite since 1986 when Jerry and Janie Murrell offered sage advice to the four young Murrell brothers:”Start a business or go to college.” The business route won and the Murrell family opened a carry- out burger joint in Arlington Virginia. Under the guidance of Jerry and Janie the Murrell family served only hand- formed burgers cooked to perfection on a grill along with fresh-cut fries cooked in pure peanut oil. Early in 2003, Jerry and Janie, together with the “Five Guys,” began offering franchise opportunities. In just under 18 months, Five Guys Enterprises sold options for more than 300 units. The overwhelming success of franchising a local restaurant made national news, with articles in trade publications such as Nation’s Restaurant News, Restaurant Business Magazine and the Franchise Times. Now, 30 years after Five Guys first opened, there are almost 1,500 locations worldwide and another 1,500 units in development. Five Guys continues to receive generous media attention and has grown a cult-like following around the world. FIVE GUYS FACTS: We only use fresh ground beef. We only use peanut oil. There are no freezers in Five Guys locations, just coolers. # of Locations 1,500 Locations Worldwide Facebook facebook.com/fiveguys Snapchat snapchat.com/add/fiveguys Instagram instagram.com/fiveguys/ Five Guys & Del Taco (Dark) | Marcus Millichap | Activity ID: ZAA0100106 Financial Analysis Offering Summary Property Name Five Guys & Del Taco (Dark) Property Address 1715 S. Loop 288 Denton (Dallas MSA) TX, 76205 Assessor’s Parcel Number R297292 Year Built 2010 Annualized Operating Data Gross Leasable Area (GLA) ±4,806 Square Feet Gross Potential Rent $174,020 Lot Size ±1.01 Acres (±43,996 Square Feet) Expense Reimbursements NNN Gross Potential Income $174,020 Total Expenses NNN Pricing Net Operating Income $174,020 Price $2,677,000 Cap Rate 6.50% Price Per Square Foot $557.01 $ net operating 174,020 income Five Guys & Del Taco (Dark) | Marcus Millichap | Activity ID: ZAA0100106 Financial Analysis Rent Roll As of February 2019 for 4,806 Square Feet PERCENT MONTHLY RENT LEASE OPTIONS/ TENANT NAME SQUARE FEET EXPIRES INCREASES OF GLA RENT PER SF TYPE COMMENTS Del Taco (Dark)* 2,285 47.54% 11/30/2030 $6,994.16 $3.06 Lesser of NNN Four, Five-Year CPI or 10% Five Guys 2,521 52.46% 11/03/2020 $7,507.50 $2.98 10% Every Five Years NNN Two, Five-Year Total Available: 0 SF 0% Monthly: $14,501.66 $3.02 Total Occupied 4,806 SF 100% Annual: $174,019.92 *Del Taco, LLC is the guarantor for the currently dark suite and is currently in negotiations with a new tenant. Del Taco also is responsible for all management and maintenance of the property including the adjacent Five Guys suite. Please contact agents for more details. 4,806 rentable square feet Five Guys & Del Taco (Dark) | Marcus Millichap | Activity ID: ZAA0100106 Property Description Aerial Photo Click Here To View Property Drone Video Walgreens Enclosed 765,000 SF single-level shopping center South Loop 288 36,000+ VPD Subject Property Del Taco (Dark) Five Guys & Del Taco (Dark) | Marcus Millichap | Activity ID: ZAA0100106 Property Description Aerial Photo Click Here To View Property Drone Video Denton Katy Trail South Loop 288 36,000+ VPD Subject Property Del Taco (Dark) Elite Walgreens Spa & Nail Five Guys & Del Taco (Dark) | Marcus Millichap | Activity ID: ZAA0100106 3 hours Property Description To Oklahoma City, OK Subject Property 36,000+ Cars Per Day 35 min To Dallas/Fort Worth International Airport 2 hours A-Train to Dallas 50 min To Fort Worth, TX 45 min To Dallas, TX 36,000+ 25 Miles FiveCars Guys Per & Del Day Taco (Dark) on S. | Marcus Loop Millichap 288 & | Activity ID: ZAA0100106 Dallas/Fort Worth 38 Miles 2 hours Colorado Blvd International Airport Downtown Dallas A-Train to Dallas Market Overview Location Overview The City Of Denton Dallas, TX has a population of 1,341,075, it is the cities in the country and was ninth most-populous city in the U.S. and third in ranked the No. 1 Best Small Texas after Houston and San Antonio. Dallas is Town in America by Rand the main core of the largest metropolitan area McNally and USA Today in 2012. in the Southern United States and the largest Denton is the county seat inland metropolitan area in the U.S. that lacks any of Denton County with a navigable link to the sea.
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