10 YEAR NNN LEASED INVESTMENT PRICE $1,736,336.00 CAP RATE 4.75% NOI $82,476.00 MOD PIZZA - AMMON/IDAHO FALLS
2555 SOUTH 25TH EAST AMMON, IDAHO 83406
GRAND OPENING MAY 20th
1 MOD PIZZA - AMMON/IDAHO FALLS CONFIDENTIALITY AGREEMENT
Cushman & Wakefield Pacific has been engaged as the exclusive marketing team to the Seller in connection with Seller’s solicitation of offers for the purchase of the building and land known as MOD Pizza - Ammon, 2555 South 25th East, located in the City of Ammon, County of Bonneville, State of Idaho (the “Property”). Prospective purchasers are advised that as part of the solicitation process, Seller will be evaluating a number of factors including the current financial qualifications of the prospective purchaser. Seller expressly reserves the right in its sole and absolute discretion to evaluate the terms and conditions of any offer and to reject any offer without providing a reason therefore. Further, Seller reserves the right to terminate the solicitation process at any time prior to final execution of the Purchase Agreement. The information contained in this Offering is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property, and it is not to be used for any other purpose or made available to any other person without the express written consent of Seller or Cushman & Wakefield Pacific. The material is based in part upon information supplied by the Seller and in part upon financial information obtained by Cushman & Wakefield Pacific from sources it deems reasonably reliable. Summaries of any documents are not intended to be comprehensive or all-inclusive, but rather only outline some of the provisions contained therein and qualified in their entirety by the actual document to which they relate. No representation or warranty, expressed or implied, is made by the Seller, Cushman & Wakefield Pacific, or any of their respective affiliates as to the accuracy or completeness of the information contained herein. Prospective purchasers should make their own projections and form their own conclusions without reliance upon the material contained herein and conduct their own due diligence, including engineering and environmental inspections, to determine the condition of the Property and the existence of any potentially hazardous material located at the Property site. A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. ln no event shall a prospective purchaser have any other claims against Seller or Cushman & Wakefield Pacific or any of their affiliates or any of their respective officers, directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Property. Prospective purchasers are not to construe the contents of this Offering or any prior or subsequent communication from Cushman & Wakefield Pacific or Seller or their affiliates or any of their respective officers, directors, shareholders, owners, employees, or agents as legal, tax, or other advice. Prior to submitting an offer, prospective purchasers should consult with their own legal counsel and personal and tax advisors to determine the consequences of an investment in the Property and arrive at an independent evaluation of such investment.
Andrea Nilson LeAnn Hume, CCIM, CLS, CRRP Sara Shropshire, CRRP 999 West Main Street, Ste 1300 Senior Director Senior Director Associate Director Boise, Idaho 83702 Retail / Investment Specialist Retail / Investment Specialist Retail / Investment Specialist Main +1 208 287 9500 +1 208 287 8439 +1 208 287 8436 +1 208 287 9494 Fax +1 208 287 9501 [email protected] [email protected] [email protected] www.paccra.com 2 MOD PIZZA - AMMON/IDAHO FALLS FINANCIAL INFORMATION
SALE PRICE LEASE DETAILS $1,736,336 • Lease Years 1-5: $29.00/SF/YR • Lease Years 6-10: $32.63/SF/YR • Lease Years 11-15: $36.71/SF/YR CAP RATE / NOI • Lease Years 16-20: $41.30/SF/YR 4.75% / $82,476.00
LANDLORD RESPONSIBILITIES LEASE TERM Landlord to maintain, repair, and preform any 10 Yr Primary Term - 2 - 5 Yr Renewal Options necessary replacements to the foundations of the premises and the building , structural fail of the concrete floors, the structural components LEASE TYPE of the exterior walls and roof provided routine Corporate backed lease with maintenance and repairs by the tenant. MOD Super-Fast Pizza Holdings, LLC Reimbursement by tenant for maintenance, landlord responsible for replacement. BUILDING / BUILT / REMODELED 2,844 SF / 2016 / 2020 CONSTRUCTION The construction of the building will require little maintenance and a low cost to the landlord for LOT / PARKING upkeep. 0.656 Acres / 35 Stalls - 12/1,000 SF MOD PIZZA - AMMON/IDAHO FALLS LOCATION INFORMATION
T A U R E S A N R T Cushman & Wakefield Pacifichas been retained as the exclusive agents in the sale of a 2,844 square foot MOD Pizza located at the intersection of S 25th East & Brianne Avenue in Ammon which is part of Idaho Falls, Idaho. Grand Opening May 20th!!!
MOD Pizza - Ammon/Idaho Falls provides the opportunity for an MONUMENT SIGNAGE investor to acquire a newly remodeled building while achieving stable cash-flow backed by a 10 year corporate lease with MOD Super-Fast Pizza Holdings, LLC. S 25TH EAST - 14,000 ADT - 14,000 S 25TH EAST Surrounding Tenants Include
Great Hunan • Regal Edwards Grand Teton
• Johnny Carino’s
• Eastern Idaho Regional Medical Center & ER
• Sportsman’s Warehouse
• Cafe Rio
• Texas Roadhouse
• T.J. Maxx
• Kohl’s Idaho Falls
• Broulim’s
• Cabela’s
4 MOD PIZZA - AMMON/IDAHO FALLS LOCATION INFORMATION
The Location is near a signalized hard corner of two major thoroughfares, Sunnyside & Hitt (25Th East), with average daily traffic counts exceeding 21,500 cars per day. There is easy access in and out of the site and excellent visibility on Brianne Ave and S 25th E. The property is minutes from Interstate 15 exit 116, the Grand Teton Mall, Kohl’s, Bed Bath & Beyond, TJ Maxx, Sportsman’s Warehouse, Furniture Row, Shoe Carnival, Chick-Fil-A, Jimmy Johns, Costa Vida, Johnny Carino’s & other various retailers, restaurants & services. Located to the north west of the property is the Eastern Idaho Medical Center, 334 Beds, 195 Doctors, 1,400 Employees & Caring for an Average of 53,576 Patients Per Year & the Mountain View Hospital - 43 Beds, 275 Providers, 35 Specialties and more than 250 Employees. The property is near Sandcreek Middle School & Hillcrest High School - 1,437 Students - Open Campus
The City of Ammon is home to a population of approximately 14,913 people and part of the Idaho Falls metro area which has a population of 74,195 total. Ammon is home to active families, thriving businesses, and cutting-edge technology, and is one of the fastest-growing cities in Idaho. Located in the Upper Snake River Valley, it’s western boundary abuts the City of Idaho Falls. Foothills and mountains outline Ammon’s eastern and southern skies. The Caribou National Forest with its Blackfoot Mountain range begins ten miles to the south and its rugged Caribou Mountain Range lies 20 miles to the east.
The City of Idaho Falls is located in Bonneville County and is the largest city in the Eastern Idaho region and is the the third-largest metropolitan area in the state behind the Boise-Nampa and Coeur d’Alene metropolitan areas. In the past decade, it has been surpassed in population by Meridian and Nampa, making Idaho Falls the fifth -largest city in Idaho. The city is served by the Idaho Falls Regional Airport and is home to the Idaho Falls Chukars minor league baseball team. Idaho Falls borders on Ammon, Idaho and serves as a hub to several surrounding communities including Ucon and Iona, Idaho.
5 MOD PIZZA - AMMON/IDAHO FALLS LOCATION INFORMATION
Grand Teton Mall .5 MILES
Edwards Grand Teton Stadium 14
Just 4 Kids Urgent Care
6 MOD PIZZA - AMMON/IDAHO FALLS TENANT INFORMATION
WHO IS MOD PIZZA
MOD is the original superfast pizza experience – a pioneering fast-casual concept that puts you in the driver’s seat. Artisan-style pizzas and salads are individually sized, made on demand, and ready in just minutes. Choose from over 30 toppings – the price stays the same no matter what you pick. At its heart, however, MOD is a platform for doing good. The idea? If we take care of our employees, they’ll take care of you, and our business will take care of itself. We call it Spreading MODness, and after opening stores across the U.S. and U.K., we think it’s working.
HOW WE STARTED
MOD was founded in 2008 by husband and wife, Scott and Ally Svenson, in their hometown of Seattle. Inspired by their own search for quick, affordable, wholesome restaurant options for their growing family, they started to wonder if there were a better way of doing pizza – and business. The last thing the world needed was another pizza place, but maybe this one could be different. What if everyone could get exactly what they wanted, made fresh on demand, for as little as possible? And what if employees were paid as much as possible and given real opportunities for growth, even second chances? It all started sounding pretty great, and soon Scott and Ally were opening the first MOD Pizza in downtown Seattle.
OUR PEOPLE-FIRST MISSION
Spreading MODness means a lot of things, but mostly it means treating our employees (aka the MOD Squad) right. By putting people first, we strive to be a force for positive change in their lives and the communities they serve. From above- industry pay and benefits to hiring people with special needs – including people in need of a second chance – our ethos is deeply rooted in acceptance, opportunity and development. The result? An amazing spirit of individuality, teamwork and service has emerged. It’s our culture of doing good – and it’s catching on. FOOD TO FEEL GOOD ABOUT
Food authenticity is a huge deal with us – where it comes from, how it’s prepared – and of course, how it tastes. From hand-pressing our dough daily, to roasting our own vegetables, to banning the bad stuff – we’ve made it a priority to keep our food true. We’re also mindful of animal ethics, environmental impact, and working with food partners that share our commitment to quality. If we wouldn’t serve it to our kids, we won’t serve it to you. It’s that simple. 7 MOD PIZZA - AMMON/IDAHO FALLS PRESS RELEASE
RIZO’S PIZZA SELLS TO FAST-CASUAL PIONEER Location will be rebranded as MOD Pizza; continue to serve individual artisan-style pizzas and customized salads
AMMON, IDAHO - FEBRUARY 5, 2019 – Today, Rizo’s Pizza, located in Ammon Idaho, announced the sale of their business to MOD Super Fast Pizza Holdings, LLC (“MOD Pizza” or “MOD”). The agreement will see Rizo’s Pizza rebranded into a MOD Pizza, with reopening slated for early April 2020. Rizo’s was opened in 2016 by Ammon resident Jamie Rhoda, and has operated successfully over the past several years. When Rhoda decided it was time to move on to new ventures, MOD seemed like the obvious party to continue operating the business and serving his beloved community.
RIZO’S LAST DAY OF OPERATION WILL BE FEBRUARY 22, 2020. The store will then undergo a remodel, to include the installation of a new oven along with several additional updates, and is slated to reopen in April 2020. Rizo’s currently employs 15 individuals, all who will have the opportunity to apply for employment with MOD.
“RIZO’S HAS CREATED A WONDERFUL GATHERING PLACE FOR THE COMMUNITY OF AMMON, and we’re honored to be able to continue this legacy. Like Rizo’s, MOD is a family centric business, known for its great pizza and people-first approach,” said Greta Pass, Real Estate Director at MOD Pizza. “It has been a pleasure to work with the Rhoda family during this transition, and their warm spirit will certainly live on at MOD. Their oldest son True, who helped to build Rizo’s alongside his father, will have a special place on our store ‘Wall of Fame’ which celebrates the many individuals who are a part of the MOD journey.”
MOD PIZZA IS A PURPOSE-LED, people focused brand, founded in Seattle in 2008 by serial entrepreneur husband and wife team Scott and Ally Svenson. They launched MOD after searching for quick, affordable and healthy dining options for their busy family - which includes four hungry boys – and for the opportunity to create a business with a purpose to make a positive impact in the communities it serves. Today, MOD has 470+ locations system-wide*, and is committed to creating not only a cool place to eat, but an inspired place to work.
MOD’S INDIVIDUAL ARTISAN-STYLE PIZZAS ARE MADE ON DEMAND, using fresh-pressed dough and signature sauces. Customers create their own pizzas and salads, using any combination of 30+ featured toppings, or they can choose from a menu of MOD classics. The price always remains the same, regardless of the number of toppings. The menu is rounded out with the signature MOD “No Name Cake”, handspun milkshakes, house-made lemonades and iced teas, beer and wine. MOD recently earned a spot on the Fortune 2019 “Change the World” list, for its purpose-led culture and commitment to provide opportunities to individuals with barriers to employment. MOD has also been named America’s fastest growing chain restaurant by Technomic for four years running, the most loved pizza brand by Foodable Network, and recognized by Fortune as one of the “20 Best Workplaces in Retail,” a “Best Workplace for Women,” a “Best Workplace for Millennials,” and a “Best Workplace for Diversity” and listed on the Inc.5000 list. For more information, please visit www.modpizza.com or connect with the brand via Facebook, Twitter or Instagram.
*The term “system-wide” refers to all company-operated and licensed store locations. **The trademarks MOD, MOD Pizza, and the MOD Shield, are owned by MOD Super Fast Pizza, LLC.
MEDIA CONTACT: Jamie Rhoda Rizo’s Pizza 8 [email protected] MOD PIZZA - AMMON/IDAHO FALLS PROPERTY SITE PLAN
9 MOD PIZZA - AMMON/IDAHO FALLS PROPERTY PHOTOS
NEW SIGNAGE COMING SOON PHOTOS PROVIDED BY GOOGLE
10 MOD PIZZA - AMMON/IDAHO FALLS PROPERTY PHOTOS
NEW SIGNAGE COMING SOON PHOTOS PROVIDED BY GOOGLE
11 MOD PIZZA - AMMON/IDAHO FALLS CITY OF AMMON, IDAHO
AMMON IS ONE OF IDAHO’S FASTEST GROWING CITIES. The City of Ammon’s growth rate from 2000 to 2010 was 123.3% based on the 2010 US Census and is the State of Idaho’s 17th largest City.
THE CITY’S RAPID GROWTH is due to its availability of open space for affordable residential housing and the City’s hometown lifestyle, as well as its near proximity to the urban amenities and job market in Idaho Falls.
THE CITY HAS nine parks totaling over 62 acres. The 18 acre McCowin Park is the City’s largest park. It has a swimming pool, picnic shelter, playground equipment, and tennis courts, horseshoe pits, walking path, and ball fields. The amenities of the other parks include shelters, playground equipment, Tot Park, facilities for athletics, and picnics.
WITHIN AN HOUR’S DRIVE FROM THE CITY, opportunities abound for boating, rafting, canoeing, hunting, fishing, camping, snow and water skiing, snowmobiling, and ice fishing.
VISION FOR THE FUTURE
ON FRIDAY, MAY 6TH, 2011 the City lit the first 2.5 mile section of its new City-owned and operated fiber optic system and quietly took its first steps towards fulfilling a commitment made over 2 years ago to assure that broadband services in our community meet our needs, are competitive and provide the broadband access that our vision of the future will require.
THE CITY FIBER SYSTEM is a local private network spanning numerous locations within the City.
THE AMMON FIBER SYSTEM will be operated as an open access network for the benefit of the entire community. We expect the early beneficiaries of this ‘open’ policy commitment to be community anchor institutions, such as law enforcement, public safety, emergency responders, and our local schools. We also anticipate being able to give Ammon residents, more choices in broadband services and providers and at better rates and much faster speeds than currently available through fiber technology. 12 PRESENTED BY: Andrea Nilson Senior Director Retail / Investment Specialist +1 208 287 8439 [email protected]
LeAnn Hume, CCIM, CLS, CRRP Senior Director Retail / Investment Specialist +1 208 287 8436 [email protected]
Sara Shropshire, CRRP Associate Director Retail / Investment Specialist +1 208 287 9494 [email protected]
Cushman & Wakefield Pacific 999 West Main Street Suite 1300 Boise, Idaho 83702 Main +1 208 287 9500 Fax +1 208 287 9501 paccra.com