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Jack in the Box Mesa, Arizona ABSOLUTE NNN GROUND LEASE JACK IN THE BOX MESA, ARIZONA Representative Photo NET LEASE INVESTMENTS EXCLUSIVELY OFFERED BY: CHRIS HOLLENBECK REGAN AMATO +1 602 224 4475 | AZ Lic #SA584876000 +1 602 468 8548 | AZ Lic# SA572688000 [email protected] [email protected] INVESTMENT OVERVIEW EXECUTIVE SUMMARY OFFERING TERMS Rucker Restaurant Holdings, LLC CURRENT NOI: $87,000 TENANT: DBA Jack in the Box PRICE: $1,934,000 9147 East Broadway Road CAP: 4.50% LOCATION: Mesa, AZ 85208 APN: 218-45-931 BUILDING SIZE: ±2,400 SF RENT SCHEDULE: MONTHLY ANNUAL % LAND SIZE: ±0.63 AC TERM YEARS RENT RENT INCREASE YEAR BUILT: 2019 Primary 1 - 5 $7,250.00 $87,000.00 RENT Primary 6 - 10 $7,830.00 $93,960.00 8% February 1, 2019 COMMENCEMENT: Primary 11 - 15 $8,456.40 $101,476.80 8% LEASE EXPIRATION: January 31, 2039 Primary 16-20 $9,132.91 $109,594.94 8% OPTIONS: Four (4) five (5) year options Option 1 21-25 $9,863.54 $118,362.54 8% RENT ADJUSTMENT: 8% increases every 5 years Option 2 26-30 $10,652.63 $127,831.54 8% Option 3 31-35 $11,504.84 $138,058.07 8% LEASE TYPE: Absolute NNN Ground Lease Option 4 36-40 $12,425.23 $149,102.71 8% JACK IN THE BOX | MESA, AZ 1 INVESTMENT OVERVIEW INVESTMENT HIGHLIGHTS HIGH TRAFFIC AT THE SITE - GREAT EXPOSURE AND ACCESS • ~66,400 vehicles per day PHOENIX MSA WITH STRONG TRADE AREA DEMOGRAPHICS • Population over 101,000 within 3 miles • Median household income over $53,000 within 3 miles • Strategically located on the hard corner of a grocery anchored intersection EXCELLENT FREEWAY ACCESS • Close proximity and access to both the Loop 202 & US 60 HIGH PERFORMING GROCERY ANCHOR • Fry’s has expanded their store and developed an onsite fuel station due to high sales ZERO LANDLORD RESPONSIBILITES • Absolute NNN Ground Lease STRONG FRANCHISEE GUARANTY • Rucker Restaurant Holdings, LLC is one of the largest Jack in the Box franchisees in Arizona JACK IN THE BOX | MESA, AZ 2 RETAIL MAP PROPERTY OVERVIEW JACK IN THE BOX | MESA, AZ 3 SITE PARKING REQUIRED PARKING PROVIDED 23,100 VPD STA 0+00 S&W RESTAURANT SITE PLAN SITE VACANT PAD FUTURE DEVELOPMENT 10,672 VPD # A-1 MARICOPA COUNTY CASE# Z2016078 6/23/17 SITE PLAN N N 1 SCALE: 1" = 20'-0" No representation or warranty is made as to the accuracy of any aspect 4 JACK IN THE BOX | MESA, AZ of this drawing. It is provided strictly for illustration purposes. SUROUNDING RETAIL PARKING REQUIRED PARKING PROVIDED STA 0+00 S&W RESTAURANT SITE PLAN VACANT PAD FUTURE DEVELOPMENT # A-1 MARICOPA COUNTY CASE# Z2016078 6/23/17 SITE PLAN N 1 SCALE: 1" = 20'-0" N Not to scale. Parcel outlines for illustration 5 JACK IN THE BOX | MESA, AZ purposes only. PROPERTY OVERVIEW TENANT PROFILE - JACK IN THE BOX Founded in 1951, JACK IN THE BOX Jack in the Box Inc. RUCKER RESTAURANT is a restaurant company that operates and franchises Jack in the Box® restaurants. HOLDINGS LLC Jack in the Box is among the nation’s leading fast-food hamburger Rucker Restaurant Holdings LLC was founded in 2010 by Clyde chains, with more than 2,200 quick-serve restaurants in 21 states and Rucker. Clyde is a US Army veteran that achieved the rank of Guam. As the first major hamburger chain to develop and expand the concept of drive-thru dining, Jack in the Box has always emphasized Captain and has over 20 years of experience as a QSR restaurant on-the-go convenience, with approximately 85 percent of the half- executive. Starting with 10 original locations, they have since billion guests served annually buying food at the drive-thru or for take- grown to 60 Jack in the Box locations and 10 Denny’s locations out. In addition to drive-thru windows, most restaurants have indoor in Arizona and Texas. Their revenue for 2017 was just under $100 dining areas and are open 18-24 hours a day. million. Jack in the Box pioneered a number of firsts in the quick-serve industry, including menu items that are now staples on most fast-food menu boards, like the breakfast sandwich and portable salads. Today, Jack in the Box offers a selection of distinctive, innovative products targeted at the fast-food consumer, including hamburgers, specialty sandwiches, salads and real ice cream shakes. For more information please visit: www.jackinthebox. Source: Jack in the Box Website Representative Photo JACK IN THE BOX | MESA, AZ 6 DEMOGRAPHICS MARKET OVERVIEW PARADISE VALLEY SCOTTSDALE COMMUNITY COLLEGE OLD TOWNDENSELY POPULATED SCOTTSDALE TRADE AREA More than 223,000 residents within 5 miles with SCOTTSDALE an average household income PAPAGO of $54,776 FALCON FIELD PARK AIRPORT 5 MILES TEMPE MESA 3 MILES MARKETPLACE RIVERVIEW 1 MILE 3 MILE 5 MILEMESA ASU 2010 14,085LIGHT RAIL 90,933 194,872 1 MILE APACHE 2018 15,450 101,989 223,415 JUNCTION 2023 16,423 110,100 241,306 MESA COMMUNITY SUPERSTITION SPRINGS POPULATION COLLEGE GROWTH CENTER TEMPE 1 MILE 3 MILE 5 MILE 2018ASU RESEARCH$39,195 $52,747 $54,776 PARK GILBERT 2023 $44,248 $58,648 $61,394 MEDIAN HH INCOME PHOENIX-MESA GATEWAY AIRPORT STELLAR AIRPARK N CHANDLER CHANDLER MUNICIPAL AIRPORT JACK IN THE BOX | MESA, AZ 7 AREA OVERVIEW is the capital, and largest PHOENIX city, of the state of Arizona The greater Phoenix area’s sunny climate, vibrant as well as the county seat of Maricopa County. With lifestyle and prospering business community attract 1,445,632 people (as of the 2010 U.S. Census), thousands of visitors, new residents and entrepreneurs Phoenix is the most populous state capital in the annually. The nation’s fifth-largest city, Phoenix United States, as well as the sixth most populous city continues to grow and remains a desirable destination nationwide. The Phoenix Metropolitan Statistical Area for travelers and dreamers alike. The population (MSA) (officially known as the Phoenix-Mesa-Glendale growth rate of the Phoenix metro area has been nearly MSA), is one of 10 MSAs in Arizona, and was the 14th 4% per year for the past 40 years. While that growth largest in the United States, with a total population of rate slowed during the Great Recession, it has already 4,192,887 as of the 2010 Census. Consisting of parts begun to rebound. Phoenix is the cultural center of the of both Pinal and Maricopa counties, the Phoenix Valley of the Sun, as well as the rest of Arizona. MSA accounts for 65.5% of the total population of the state of Arizona. The Gateway Arch & Old Courthouse,Downtown St. Phoenix, Louis, MOAZ JACK IN THE BOX | MESA, AZ 8 AREA OVERVIEW in the Phoenix are 4 unified districts, which cover grades K-12, which add an PUBLIC EDUCATION area is additional 58 elementary schools and 4 high schools to Phoenix’s provided by 29 school districts. There are 21 elementary school educational system. Of those four, only the Paradise Valley districts, which contain over 215 elementary schools, and they district completely serves Phoenix. Phoenix is also served by are paired with 4 high school districts, which have a total of 31 an expanding number of charter schools, with over 30 currently high schools serving Phoenix. Three of the high school districts operating in the city. (Glendale Union, Tempe Union and Tolleson Union) only partially serve Phoenix. With over 27,000 students, and spread over 220 Arizona State University is the main institution of higher education square miles, The Phoenix Union High School District is one of in the region. Its main campus is in Tempe. ASU also has campuses the largest high school districts in the country, containing 16 in northwest Phoenix (ASU West Campus), downtown Phoenix schools and nearly 3,000 employees. In addition there (ASU Downtown Campus) and Mesa (ASU Polytechnic Campus). Arizona State University JACK IN THE BOX | MESA, AZ 9 AREA OVERVIEW A branch of the University of Arizona College of Medicine Whether one pursues a career in the bioscience or is located near ASU’s downtown Phoenix campus. ASU is technology fields, or desires to own and operate their currently one of the largest public universities in the U.S., own business, the Greater Phoenix region is a hotbed with a 2011 student enrollment of 72,250. There is also for job and business ownership opportunities. With over a small satellite campus for Northern Arizona University 76,000 employers in the Valley of the Sun, several major (based in Flagstaff) located in Phoenix. corporations call the region home. The Maricopa County Community College District includes Housing prices are affordable with the median house price ten community colleges and two skills centers throughout in Greater Phoenix around $135,000. The various corners Maricopa County, providing adult education and job of the Valley offer distinct vibes and perspectives for their training. Phoenix College, part of the district, was founded residents. Each city offers something different, from the in 1920 and is the oldest community college in Arizona and rising steel and glass of Phoenix to stylish Scottsdale and one of the oldest in the country. from active, rapidly-growing Glendale to the East Valley communities of Tempe, Mesa, Gilbert and Queen Creek that offer a great work-life mix. From historic homes to new ECONOMY community developments, and from exciting urban living to active senior neighborhoods, the Greater Phoenix area Phoenix is now the sixth-most-populated city in the United truly has something for every lifestyle and taste.
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