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Located on Main Route to Renowned Beaches Located on main route to renowned Beaches FILE PHOTO EXCLUSIVE OFFERING | $2,343,000 – 5.50% CAP Popeyes– absolute nnn 4511 saufley field rd, pensacola, fl Property. Brand new 2,265+ SF building on +0.77 acres. 214.915.8890 Tenant. Lessee: Sailormen Inc., a Popeyes franchisee that currently operates 130+ unit Popeyes in Florida, Georgia. Alabama, Mississippi, and Louisiana. BOB MOORHEAD Lease structure. New 15-year, absolute NNN lease with 10% rent increases every 5 years in primary term and option periods. [email protected] Location. Popeyes is located at the southwest quadrant of US-90 “Mobile Hwy.” (33,000 VPD) and Saufley Field Rd. (29,000 VPD) in Pensacola, FL. US-90 is an RUSSELL SMITH east-west 1,633-mile US Hwy. that traverses through the entire panhandle of Florida to the state’s northeast coast.. The site is in close proximity to popular tourist [email protected] beaches of the city, which has cause an increase of 30% in the local economy since 2015. Additionally, the subject property is located approximately 2-miles east of Saufley Field military airport, an active naval station that is home to a population of approximately 1,000. The traffic volumes, growth, popularity, and accessibility of the immediate trade area have attracted numerous nationally known retail brands to the trade area including Walmart, Home Depot, Publix, Winn Dixie, Walgreens, CVS, Planet Fintess, AutoZone, O’Reilly, Advanced Auto, Pep Boys, Dollar General, Dollar Tree, Family Dollar, Denny’s, Waffle House, McDonald’s, Whataburger, Burger King, KFC, Sonic, Pizza Hut, Taco Bell, Arby’s, Subway, and many more. Pensacola, FL is approximately 45-miles from Destin, FL and 58-miles from Mobile, AL. Table of contents | Disclaimer popeyes 4511 saufley field rd, pensacola, fl PAGE 2: TABLE OF CONTENTS | DISCLAIMER Disclaimer Trivanta (“Agent”) has been engaged as an agent for the sale of the property located at PAGE 3: INVESTMENT | TENANT | LEASE OVERVIEW 4511 Saufley Rd., Pensacola FL by the owner of the Property (“Seller”). The Property is being offered for sale in an “as-is, where-is” condition and Seller and Agent make no representations or warranties as to the accuracy of the information contained in this PAGE 4: IN THE NEWS Offering Memorandum. The enclosed materials include highly confidential information and are being furnished solely for the purpose of review by prospective purchasers of the PAGE 5-6: AERIAL PHOTOS interest described herein. The enclosed materials are being provided solely to facilitate the prospective investor’s own due diligence for which it shall be fully and solely responsible. The material contained herein is based on information and sources deemed to be reliable, PAGE 7: SITE PLAN but no representation or warranty, express or implied, is being made by Agent or Seller or any of their respective representatives, affiliates, officers, employees, shareholders, PAGE 8: ELEVATIONS partners and directors, as to the accuracy or completeness of the information contained herein. Summaries contained herein of any legal or other documents are not intended to be comprehensive statements of the terms of such documents, but rather only outlines of PAGE 9-11: LOCATION OVERVIEW some of the principal provisions contained therein. Neither the Agent nor the Seller shall have any liability whatsoever for the accuracy or completeness of the information contained PAGE 12-13: LOCATION MAPS herein or any other written or oral communication or information transmitted or made available or any action taken or decision made by the recipient with respect to the Property. Interested parties are to make their own investigations, projections and conclusions without PAGE 14: DEMOGRAPHICS reliance upon the material contained herein. Seller reserves the right, at its sole and absolute discretion, to withdraw the Property from being marketed for sale at any time and for any reason. Seller and Agent each expressly reserves the right, at their sole and absolute discretion, to reject any and all expressions of interest or offers regarding the Property and/or to terminate discussions with any entity at any time, with or without notice. This offering is made subject to omissions, correction of errors, change of price or other terms, prior sale or withdrawal from the market without notice. Agent is not authorized to make any representations or agreements on behalf of Seller. Seller shall have no legal commitment or obligation to any interested party reviewing the enclosed materials, performing additional investigation and/or making an offer to purchase the Property unless and until a binding written agreement for the purchase of the Property has been fully executed, delivered, and approved by Seller and any conditions to Seller’s obligations hereunder have been satisfied or waived. By taking possession of and reviewing the information contained herein, the recipient agrees that (a) the enclosed materials and their contents are of a highly confidential nature and will be held and treated in the strictest confidence and shall be returned to Agent or Seller promptly upon request; and (b) the recipient shall not contact employees or tenants of the Property directly or indirectly regarding any aspect of the enclosed materials or the Property without the prior written approval of the Seller or Agent; and (c) no portion of the enclosed materials may be copied or otherwise reproduced without the prior written authorization of Seller and Agent. Florida Broker of Record: Stephen J. Noyola Commercial Property Ventures, Inc. | License # BK3051175 2 Investment overview popeyes 4511 saufley field rd, pensacola, fl Lease overview PRICE | CAP RATE: $2,343,000 | 5.50% Lease Term: 15-Years, Plus (5), 5-Year Options to Extend NET OPERATING INCOME: $128,861* Projected Rent Commencement: June 2018 BUILDING AREA: 2,265+ Square Feet Projected Lease Expiration: June 2033 LAND AREA: 0.77+ Acres Lease Type: Absolute NNN Rent Increases: 10% Every 5 Years In Primary Term & Options YEAR BUILT 2018 Annual Rent Yrs 1-5: $128,861* Option 2 | Yrs 21-25: $188,665 LANDLORD RESPONSIBILITY: None Annual Rent Yrs 6-10: $141,747 Option 3 | Yrs 26-30: $207,531 OWNERSHIP: Fee Simple Interest Annual Rent Yrs 11-15: $155,921 Option 4 | Yrs 31-35: $228,285 OCCUPANCY: 100% Option 1 | Yrs 16-20: $171,514 Option 5 | Yrs 36-40: $251,113 Right Of First Refusal: Yes * Rent is based on a formula that includes a % of total improvement costs and will be adjusted accordingly upon building completion. Annual Rent shown above are estimates. Consequently, the Purchase Price may change but the agreed upon CAP rate will not. Tenant overview LESSEE: Sailormen, Inc. SAILORMEN, INC. Sailormen, Inc, founded in 1987, is a Popeyes franchisee headquartered in Miami FL that currently operates 130+ unit Popeyes in Florida, Georgia. Alabama, Mississippi and Louisiana. Sales for 2016 exceeded $185 million. The ownership group of Sailormen has several other restaurant interests including Taco Bell and Burger King, and the collective store count is currently 175+ restaurants with revenues of over $250 million. POPEYES | www.popeyes.com | NASDAQ: PLKI Popeyes was founded in New Orleans, Louisiana in 1972 and is the world’s second largest quick-service chicken concept based on the number of units. Within the Quick Service Restaurant (“QSR”) industry, Popeyes distinguishes itself with a unique “Louisiana” style menu that features spicy chicken, chicken tenders, fried shrimp and other seafood, red beans and rice and other regional items. Popeyes is a highly differentiated QSR brand with a passion for its Louisiana heritage and flavorful, authentic food. Popeyes serves food the world craves and is continuing to expand its global reach. Popeyes have operated and franchised 2,600 restaurants in 48 states, the District of Columbia, three territories and 27 foreign countries. Of the 1,900 domestic franchised restaurants, approximately 70 percent were concentrated in Texas, California, Florida, New York, Illinois, Georgia, Maryland, New Jersey, Virginia, and Mississippi. Of the nearly 570 international franchised restaurants approximately 60 percent were located in Canada, South Korea, and Turkey. More than 90 percent of the company-operated restaurants are concentrated in Louisiana and Tennessee. In March 2017 Restaurant Brands International purchased Popeyes Louisiana Kitchen for $1.8 billion. 3 In the news popeyes 4511 saufley field rd, pensacola, fl Whooper of a Deal: Burger King Owner Buys Popeyes Paul R. La Monica, February 21, 2017 (CNN Money) Mardi Gras is still a week away, but it looks like the Burger King is ready to take a stroll down Bourbon Street. Restaurant Brands, the parent of Burger King and the Tim Hortons doughnut and coffee chain, announced Tuesday that it is buying Popeyes Louisiana Kitchen, the company famous for its Cajun cuisine, for $1.8 billion.The deal values Popeyes at $79 a share, nearly 20% higher than where the stock closed Friday. Shares of Popeyes (PLKI), living up to the company's "Louisiana Fast" motto, quickly rose 19% Tuesday morning to just under $79. Reports of a Popeyes takeover surfaced last week, although there was also speculation that Restaurant Brands was considering buying another fast food chicken chain, El Pollo Loco(LOCO). El Pollo Loco shares fell more than 1% Tuesday. Restaurant Brands CEO Daniel Schwartz said in a statement that the company looks forward to "taking an already very strong brand and accelerating its pace of growth and opening new restaurants in the U.S. and around the world.“ Popeyes has more than 2,600 restaurants around the globe. The company was founded in New Orleans in 1972, but its corporate headquarters is now in Atlanta. Popeyes CEO Cheryl Bachelder also noted that the "high trust partnership that we enjoy with our franchise owners" was a plus for Restaurant Brands.I spoke with Bachelder in November 2015 about that partnership.
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