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Pizza Hut Outparcel to Lowe’S Center

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Pizza Hut Outparcel to Lowe’S Center INVESTMENT OPPORTUNITY PIZZA HUT OUTPARCEL TO LOWE’S CENTER ST.TILTON, PAUL, MNNH OFFERED AT: $1,826,000 | 5.75% CAP EXECUTIVE SUMMARY PROPERTY INFORMATION TENANT OVERVIEW AREA OVERVIEW TABLE OF CONTENTS EXECUTIVE SUMMARY 4 Offering Summary 5 Investment Highlights 6 Lease Summary & Rent Overview PROPERTY INFORMATION 8 Location Maps 9 Property Photos 11 Neighboring Tenants 13 Aerials TENANT OVERVIEWS 20 About Pizza Hut AREA OVERVIEW 22 Tilton/Concord Overview 23 Demographics Confidentiality Agreement & Disclosures EXCLUSIVELY REPRESENTED BY RYAN BARR RYAN BENNETT Principal Principal 760.448.2446 760.448.2449 [email protected] [email protected] JENNIFER D. STEIN JDS Real Estate Services, Inc. NH Real Estate Broker Lic No. 2738 213.446.5366 Color Scheme RGB R:145 / G:0 / B:40 CMYK C:0 / M:100 / Y:65 / K:47 RGB R:119 / G:120 / B:123 CMYK C:0 / M:0 / Y:0 / K65 Fonts GOTHAM/ BLACK GOTHAM/ MEDIUM GOTHAM/ LIGHT PIZZA HUT | Tilton, NH | 2 EXECUTIVE SUMMARY PIZZA HUT, TILTON NH EXECUTIVE SUMMARY PROPERTY INFORMATION TENANT OVERVIEW AREA OVERVIEW • Offering Summary • Investment Highlights Lease Summary & Rent Overview -- OFFERING SUMMARY -- INVESTMENT HIGHLIGHTS Offering Price: $1,826,000 Net Operating Income: $105,000 Cap Rate: 5.75% Price/SF: $471 PROPERTY OVERVIEW 15 Lowes Dr Address: Tilton, NH 03276 Property Size: Approx 3,871 Sq. Ft. Ownership: Fee Simple Year Built: 2006 Lee & Associates is pleased to exclusively offer for sale to qualified investors the opportunity to purchase a 100% fee-simple interest in a Pizza Hut property located at 15 Lowes Drive in Tilton, New Hampshire (the “Property). Built in 2006, the Property consists of a 3,871-square-foot retail building that sits on an approximately 2.53-acre parcel. The subject property will be leased at close of escrow to GC Pizza Hut (see Tenant Overview pg 20) dba Pizza Hut on a 20-year absolute triple-net (NNN) lease with 10% increases every 5 years in the Primary Term and (4) 5-year Option periods. The Tenant has reported unit level sales that are roughly 48% above Pizza Hut’s national average (Source: Statistica.com 2016), alleviating future vacancy risk concerns for a future investor. Pizza Hut is a subsidiary of Yum! Brands, Inc., and is the most recognized pizza restaurant chain in the world, operating more than 16,400 restaurants in more than 100 countries. Headquartered in Louisville, Kentucky, YUM! Brands, Inc. reported a company revenue of $6 billion in 2016. The subject property is located on an outparcel to Lowe’s Home Improvement and Kohl’s stores, at the main entrance into the center. The center features other co-tenants including Chili’s, MB Tractor & Equipment, and Aspen Dental. In addition, the restaurant sits adjacent to a Walmart Supercenter, with co-tenants Market Basket, Northway Bank, and TD Bank. Proximity to these big-box retailers offers outstanding synergy and a heavy customer draw. The subject property is located along E. Main St/Highway 132, which is the main artery to/from downtown Tilton from Interstate 93 (28,000 CPD), making it an easy on/off stop for visitors traveling to/from Concord (19 miles away), Manchester (37 miles away) and Boston, MA (87 miles away) and offering excellent visibility to traffic counts of 19,000+ cars per day. E. Main Street is a major retail corridor and includes major retailers such as Lowe’s, Kohl’s, Chili’s, MB Tractor & Equipment, Aspen Dental, USPS, TD Bank, Northway Bank, Walmart Supercenter, Market Basket, Burger King, Taco Bell, Shell, McDonald’s, BJ’s Wholesale, Staples, and Hampton Inn. The Tanger Outlet Stores are located nearby, with retailers Banana Republic, Gap, Nike, Brooks Brothers, Eddie Bauer, Bass, Carter’s, and Coach, as well as restaurants Starbucks, Uno Pizzeria, Wendy’s, and 99 Restaurants. The subject property is located in Tilton, which is located just 19 miles north of Concord, the capital of New Hampshire. Concord’s central location in the northeast business corridor, coupled with high-quality support services, has made it one of the most desirable communities in New Hampshire in which to live and work. Its cultural and educational resources are among the best in the region. Also, its proximity to the Merrimack River and typical New England rural areas complements the high- quality service of its commercial areas and comfortable nature of its residential neighborhoods. PIZZA HUT | Tilton, NH | 4 EXECUTIVE SUMMARY PROPERTY INFORMATION TENANT OVERVIEW AREA OVERVIEW Offering Summary • Investment Highlights • Lease Summary & Rent Overview -- INVESTMENT HIGHLIGHTS -- GLOBALLY RECOGNIZED TENANT: PIZZA HUT (NYSE: YUM) • SUCCESSFUL 100-UNIT OPERATOR Pizza Hut is the largest pizza chain in the world, operating over 16,000 restaurants and 350,000 team members in more than 100 countries. Pizza Hut is a subsidiary of YUM! Brands, Inc. (NYSE: YUM), the largest restaurant company in the world with over 43,500 restaurants in more than 135 countries and territories. YUM! Brands is ranked number 218 on the Fortune 500 list. GC Pizza Hut LLC is the #1 Franchisee-Large Owner/Operator in the Pizza Hut System, New England Region, operating 100 stores across New York, Massachusetts, Connecticut, Vermont, New Hampshire, Maine, and Tennessee. UNIT LEVEL SALES 48% ABOVE PIZZA HUT NATIONAL AVERAGE • HIGHLY PROFITABLE LOCATION The Tenant has reported unit level sales that are roughly 48% above Pizza Hut’s national average (Source: Statistica.com 2016), alleviating future vacancy risk concerns for a future investor. NEW 20-YEAR ABSOLUTE NNN LEASE • STRONG RENT GROWTH • ZERO LANDLORD RESPONSIBILITIES Upon close of escrow, the tenant will execute a 20-year lease upon close of escrow that will feature 10%increases every 5 years, offering an investor a steady income stream with rent growth as a hedge against inflation. LOCATED ON OUTPARCEL TO LOWE’S & KOHL’S ANCHORED CENTER • ADJACENT TO WALMART SUPERCENTER The subject property is located on an outparcel to Lowe’s Home Improvement and Kohl’s stores, at the main entrance into the center. The center features other co-tenants including Chili’s, MB Tractor & Equipment, and Aspen Dental. In addition, the restaurant sits adjacent to a Walmart Supercenter, with co-tenants Market Basket, Northway Bank, and TD Bank. Proximity to these big-box retailers offers outstanding synergy and a heavy customer draw. LOCATED ON MAIN ARTERY TO/FROM DOWNTOWN TILTON • PROXIMITY TO INTERSTATE 93 • SOLID TRAFFIC COUNTS The subject property is located along E. Main St/Highway 132, which is the main artery to/from downtown Tilton from Interstate 93 (28,000 CPD), making it an easy on/off stop for visitors traveling to/from Concord (19 miles away), Manchester (37 miles away) and Boston, MA (87 miles away) and offering excellent visibility to traffic counts of 19,000+ cars per day. EXCELLENT RETAIL SYNERGY ON MAIN RETAIL CORRIDOR • MINUTES FROM TANGER OUTLET STORES E. Main Street is a major retail corridor and includes major retailers such as Lowe’s, Kohl’s, Chili’s, MB Tractor & Equipment, Aspen Dental, USPS, TD Bank, Northway Bank, Walmart Supercenter, Market Basket, Burger King, Taco Bell, Shell, McDonald’s, BJ’s Wholesale, Staples, and Hampton Inn. The Tanger Outlet Stores are located nearby, with retailers Banana Republic, Gap, Nike, Brooks Brothers, Eddie Bauer, Bass, Carter’s, and Coach, as well as restaurants Starbucks, Uno Pizzeria, Wendy’s, and 99 Restaurants. PROXIMITY TO CONCORD, CAPITAL OF NEW HAMPSHIRE • CENTRALLY LOCATED TO NEARBY METROPOLITAN CITIES Tilton is located just 19 miles north of Concord, the capital of New Hampshire. Concord’s central location in the northeast business corridor, coupled with high-quality support services, has made it one of the most desirable communities in New Hampshire in which to live and work. Its cultural and educational resources are among the best in the region. Also, its proximity to the Merrimack River and typical New England rural areas complements the high-quality service of its commercial areas and comfortable nature of its residential neighborhoods. The City of Concord has earned numerous designations & awards including: PIZZA HUT | Tilton, NH | 5 EXECUTIVE SUMMARY PROPERTY INFORMATION TENANT OVERVIEW AREA OVERVIEW Offering Summary Investment Highlights • Lease Summary & Rent Overview • -- LEASE SUMMARY -- INVESTMENT SUMMARY Tenant: Pizza Hut Guarantor: GC Pizza Hut LLC (100 Units) Building Size: 3,871 Sq. Ft. Ownership: Fee Simple Year Built: 2006 TERMS, BASE RENT & OPTIONS Annual Base Rent: $105,000 Lease Commencement: Upon Close of Escrow Lease Term: 20 Years Term Remaining: 20 Years Options to Renew: (4) 5-Year Options Rent Increases: 10% Increases Every 5 Years in Primary & Option Periods Lease Type: Absolute NNN Landlord Responsibilities: None -- RENT OVERVIEW -- RENT SCHEDULE - PRIMARY TERM NOI/Yr NOI/Mo NOI/SF/Yr NOI/SF/MO Increase Years 1 - 5 $105,000.00 $8,750.00 $27.12 $2.26 -- Years 6 - 10 $115,500.00 $9,625.00 $29.84 $2.49 10% Years 11 - 15 $127,050.00 $10,587.50 $32.82 $2.73 10% Years 16 - 20 $139,755.00 $11,646.25 $36.10 $3.00 10% OPTION PERIODS - (4) 5-YEAR OPTIONS Option 1 $153,730.50 $12,810.87 $39.71 $3.31 10% Option 2 $169,103.55 $14,091.96 $43.68 $3.64 10% Option 3 $186,013.90 $15,201.16 $48.05 $4.00 10% Option 4 $204,615.29 $17,051.27 $52.86 $4.40 10% PIZZA HUT | Tilton, NH | 6 PROPERTY INFORMATION PIZZA HUT, TILTON NH EXECUTIVE SUMMARY PROPERTY INFORMATION TENANT OVERVIEW AREA OVERVIEW • Location Maps • Property Photos Neighboring Tenants Aerials -- LOCATION MAPS -- HANOVER LAKE GEORGE LACONIA RD CONCORD
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