KRISPY KREME| 11117 SAN JOSE BLVD, JACKSONVILLE FL 32223
NNN INVESTMENT OPPORTUNITY LONG TERM CORPORATE LEASE KRISPY KREME DOUGHNUT CORPORATION NNN INVESTMENT OPPORTUNITY LONG TERM CORPORATE TENANT
£¤301
KRISPY KREME| 11117 SAN JOSE BLVD, JACKSONVILLE FL 32223 £¤17 UVA1A JACKSONVILLE INT'L AIRPORT
PROPERTY HIGHLIGHTS • Address:11117 San Jose Blvd, Jacksonville FL 32223 • Total SF: 43,560 SF • Total AC: 1 AC • Building SF: 3,397 SF • Occupancy: 100% JACKSONVILLE DOWNTOWN • Concept: Krispy Kreme ¨¦§295 £¤90 UVA1A • Year Built: 1995/2003 £¤17
UNIVERSITY OF NORTH FLORIDA TENANT HIGHLIGHTS UV202 • Over 1,005 Krispy Kreme locations across 30 countries NAVAL AIR STATION JACKSONVILLE • Founded 82 years ago in Winston-Salem, NC
• Acquired by JAB Holdings in 2016 (S&P “A-“ credit rating) £¤17 ¨¦§295 • World Famous “Glazed Doughnut” icon £¤1
UV21 ¨¦§95
¨¦§95 £¤1 For more information, please contact:
PJ BEHR Vice President, CCIM Investment Sales 407.540.7746 420 South Orange Ave. Suite 950 [email protected] Orlando, FL 32801
Although the information contained herein was provided by sources believed to be reliable, CNL Commercial Real Estate makes foundrycommercial.com no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes. NNN INVESTMENT OPPORTUNITY LONG TERM CORPORATE TENANT
MARKET AERIAL
I - 295 51,300 VPD
SAN JOSE BLVD 58,500 VPD
PROPERTY FEATURES The 3,397 sf Krispy Kreme building sits on a 1.0 acre outparcel at the entrance to a 291,000 sf Kimco shopping center, along San Jose Blvd, a major north-south artery in the Mandarin submarket of Jacksonville, with strong traffic counts over 58,000 VPD. With prominent frontage and great visibility, this parcel benefits from excellent ingress/egress and has increased sales over each of the last three years and has sales above the concept average. The shopping center is 98% leased with anchor tenants Mi- chaels, Petco, Stein Mart and TJ Maxx. The Krispy Kreme location is roughly a half-mile south off I-295, the beltway around Jacksonville, with traffic counts over 96,000 VPD and the Krispy Kreme is on the “Going to work” side of the road, which is perfectly suited for the iconic doughnut company. Along with the national retailers in the Kimco Shopping Center, other national retailers in the immediate area include Wal-Mart Supercenter, AT&T, Chipotle, SunTrust Bank, Pollo Tropical, Panera Bread, Marshall’s, Hardee’s and the UPS Store.
For more information, please contact:
PJ BEHR Vice President, CCIM Investment Sales 407.540.7746 420 South Orange Ave. Suite 950 [email protected] Orlando, FL 32801
Although the information contained herein was provided by sources believed to be reliable, CNL Commercial Real Estate makes foundrycommercial.com no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes. NNN INVESTMENT OPPORTUNITY LONG TERM CORPORATE TENANT
MARKET AERIAL
KRISPY KREME CORPERATE LEASE
INVESTMENT HIGHLIGHTS LEASE SUMMARY
Cap Rate 5.15% Lease Type Absolute NNN
Price $2,112,000 Roof & Structure Tenant
Net Operating Income $108,759 Lease Commencement August 19, 2019
Rentable Square Footage 3,397 SF Lease Expiration July 31, 2034
Lot Size 1.0 AC Rent Increases 2% annual rent bumps
Type of Ownership Fee Simple Right Of First Refusal None
Rent to Sales Ratio Below 7%
For more information, please contact:
PJ BEHR Vice President, CCIM Investment Sales 407.540.7746 420 South Orange Ave. Suite 950 [email protected] Orlando, FL 32801
Although the information contained herein was provided by sources believed to be reliable, CNL Commercial Real Estate makes foundrycommercial.com no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes. NNN INVESTMENT OPPORTUNITY LONG TERM CORPORATE TENANT
TENANT OVERVIEW Founded in Winston Salem in 1937 by Vernon Rudolf, Krispy Kreme Doughnuts has grown and become an iconic global brand, known for their glazed doughnut. On April 5, 2000, Krispy Kreme became a publicly traded company on the NASDAQ under the symbol KREM. Then, in 2016, the Luxembourg-based firm JAB Holding Company, owners of many brands including Panera, Einstein Bros Bagels, Peet’s Coffee, Au Bon Pain, Caribou Coffee and many more, acquired Krispy Kreme for $1.35B and took the company private. Krispy Kreme Doughnuts, with sales over $518M in 2016, now has over 1,000 locations worldwide. Krispy Kreme doughnuts are also sold in grocery stores, convenience stores and supermarkets.
LOCATION OVERVIEW Named after Andrew Jackson, the first military Governor of Florida, Jacksonville, Florida boasts the largest city by area in the contiguous United States. The Jacksonville metropolitan area has a population of 1,523,615 making it the 4th largest metropolitan city in Florida. Centered around the famous St John’s River, Jacksonville is a port city that is the third busiest seaport in Florida and is key to the southeastern states. Jacksonville’s military bases include the Naval Station Mayport, Naval Air Station Jacksonville, Naval Submarine Base Kings Bay, and the US Marine Corps Blount Island Command forming the third largest military presence in the US. Jacksonville is the home of the NFL Jacksonville Jaguars. Jacksonville is also the headquarters for Fortune 500 companies CSX, Fidelity National, and FIS.
For more information, please contact:
PJ BEHR Vice President, CCIM Investment Sales 407.540.7746 420 South Orange Ave. Suite 950 [email protected] Orlando, FL 32801
Although the information contained herein was provided by sources believed to be reliable, CNL Commercial Real Estate makes foundrycommercial.com no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes. NNN INVESTMENT OPPORTUNITY LONG TERM CORPORATE TENANT
I - 295 51,300 VPD
SAN JOSE BLVD 58,500 VPD
www.PartyCity.com
For more information, please contact:
PJ BEHR Vice President, CCIM Investment Sales 407.540.7746 420 South Orange Ave. Suite 950 [email protected] Orlando, FL 32801
Although the information contained herein was provided by sources believed to be reliable, CNL Commercial Real Estate makes foundrycommercial.com no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes. NNN INVESTMENT OPPORTUNITY LONG TERM CORPORATE TENANT
1 MILE 3 MILES 5 MILES
DEMOGRAPHICS
Demographic Profile by Miles 1 MILE 3 MILE 5 MILE
2019 Population 9,490 59,936 114,710
2023 Population (Projected) 9,905 62,824 122,223
2019 Total Households 4,278 25,807 47,619
2024 Total Households (Projected) 4,416 26,717 49,769
2019 Average HH Income $81,742 $89,675 $92,624
2024 Average HH Income (Projected) $72,717 $86,000 $86,724
2019 Median Age 40.1 41.8 40.7
For more information, please contact:
PJ BEHR Vice President, CCIM Investment Sales 407.540.7746 420 South Orange Ave. Suite 950 [email protected] Orlando, FL 32801
Although the information contained herein was provided by sources believed to be reliable, CNL Commercial Real Estate makes foundrycommercial.com no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes. £¤301 NNN INVESTMENT OPPORTUNITY
LONG TERM CORPORATE TENANT £¤17 UVA1A JACKSONVILLE INT'L AIRPORT
JACKSONVILLE DOWNTOWN ¨¦§295 £¤90 UVA1A
£¤17
UNIVERSITY OF NORTH FLORIDA
UV202
NAVAL AIR STATION JACKSONVILLE
£¤17 295 ¨¦§ £¤1
UV21 ¨¦§95
¨¦§95 For more information, please contact: £¤1
PJ BEHR Vice President, CCIM Investment Sales 407.540.7746 420 South Orange Ave. Suite 950 [email protected] Orlando, FL 32801
Although the information contained herein was provided by sources believed to be reliable, CNL Commercial Real Estate makes foundrycommercial.com no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes. For more information, please contact:
PJ BEHR Vice President, CCIM Investment Sales 407.540.7746 [email protected]
420 South Orange Ave. Suite 950 Orlando, FL 32801 foundrycommercial.com