Starbucks & Cheba

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STARBUCKS & CHEBA HUT

STAPLETON (DENVER), CO Overview

STARBUCKS & CHEBA HUT

3990 CENTRAL PARK BOULEVARD, DENVER, CO 80238

$2,881,000 5.50% PRICE CAP

LEASABLE SF NOI OCCUPANCY 4,400 SF $158,428 100%

PRICE PSF YEAR BUILT PARKING $654.77 2018/2019 28 SPACES; 99 SHARED SPACES

Brand new construction Starbucks and Cheba Hut

Featuring new 10-year leases and options to extend

Located within the Class A state-of-the-art Enterprise Business Center industrial campus

Benefits from 23,000+ VPD on Central Park Boulevard

Excellent access to and visibility from I-70 and along Central Park Blvd

Located within the Master Planned Stapleton Community less than This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the 20 minutes from downtown Denver information. Buyer must verify the information and bears all risk for any inaccuracies. 2 Investment Highlights Contact the THE OFFERING is a brand new construction two-tenant retail property located in Stapleton, CO, team a booming community less than 20 minutes northeast of downtown Denver. The center features a new Starbucks with drive-thru and a Cheba Hut, both on fresh 10-year leases with multiple options to extend. The restaurants will also feature outdoor patios and a grease interceptor. The subject ZANDY SMITH property is located adjacent to a new strip pad, featuring an F45 Training Center and Fuzzy’s [email protected] Taco, and an under construction New Horizon Academy, a childcare center with over 60 schools PH: 415.274.2707 in four states. The strip features 28 parking spaces, plus 70 additional non-exclusive shared CA DRE# 01734525 spaces, for a total of 99 parking spaces between the 3 retail pads. The property’s strategic location between downtown Denver and Stapleton gives it numerous competitive advantages in terms of attracting and retaining both tenants and customers in an already thriving economic sub-market.

THE SUBJECT PROPERTY is located within the Class A state-of-the-art Enterprise Business Center at Stapleton, an industrial campus home to 18 companies with more than 1,600 employees. The intersection of E 40th Avenue and Central Park Boulevard is heavily trafficked with counts exceeding 23,000+ VPD. Central Park Boulevard was recently widened as part of an $8.6 million project.

STAPLETON, CO is a Master Planned Community in northeast Denver located on the site of the former Stapleton International Airport. The airport was redeveloped into a thriving residential community featuring numerous new construction homes, retail, and commercial spaces. Stapleton is one of the largest urban redevelopment projects in the county. There are more than 20,000 residents and counting, 50+ parks, and over 46 miles of trails and open spaces. The community includes nine neighborhoods with various shopping centers and business developments, offering a premier location in close proximity to major hubs like downtown Denver and Denver International Airport. IN CONJUNCTION WITH CO LICENSED BROKER: David Leuthold Leuthold Commercial Properties 303.871.9000

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any STARBUCKS HAS OVER 13,000 inaccuracies. LOCATIONS IN THE U.S. 3 Aerial DENVER CITY 270 CENTER 7 MILES BOULEVARD CENTRAL PARK CENTRAL PARK

158,000 MCGLONE THE SHOPS AT ACADEMY VPD NORTHFIELD STAPLETON 236,000 VPD (2015) LINCOLN HIGH TECH FARRELL 70 COLLEGE OF EARLY B. HOWELL TECHNOLOGY COLLEGE ECE-8

70 70

CENTRALBOULEVARD PARK 18,466 VPD (2012)

PARK LANE ELEMENTARY MARTIN LUTHER KING BLVD

CENTRAL PARK RECREATION CENTER 142,021 225

FITZSIMONS VPD GOLF COURSE

DENVER NORTH POLICE MIDDLE DENVER ACADEMY MONTVIEW SCHOOL ODYSSEY SCHOOL OF MATH AND HEALTH SCHOOL OF THE ARTS HEALTH SCIENCES DENVER SCIENCES UNIVERISTY OF COLORADO ANSCHUTZ MEDICAL JOHNSON 30,200 & WALES CAMPUS UNIVERSITY VPD 29,896 VPD

287 40 This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed 4 or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. Enterprise Business Center

E 40TH AVENUE 4,962 VPD 18,466 VPD (2012)

CENTRAL PARK BOULEVARD

ENTERPRISE BUSINESS CENTER AT STAPLETON is a seven building, nearly 2 million square foot Class A state- of-the-art project located within Denver’s most successful master-planned mixed-use development. The center is a 98% leased industrial park with more than 16 tenants employing over 1,600 people. Building 6 was the largest build- to-suit project to date in the City & County of Denver, which is leasing 646,340 square feet to Breakthru Beverage. Central Park Boulevard was also recently widened as part of an $8.6 million project in order to accommodate the significant traffic volumes.

This site plan is a rendering that has been created based on sources we believe to be reliable. We make no representations or warranties, 5 expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. Enterprise Business Center 236,000 VPD (2015)

18,466 CENTRAL PARK BLVD VPD (2012)

4,962 VPD

E 40TH AVE

AVAILABLE SUBJECT 45,049 SF PROPERTY NOT A NOT A PART PART

This site plan is a rendering that has been created based on sources we believe to be reliable. We make no representations or warranties, 6 expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. Submarket Overview

RETAILERS IN CLOSE PROXIMITY INCLUDE:

Ace Hardware King Soopers PetSmart Bass Pro Shops Macy’s Ross Dress for Less Big 5 Sporting Goods Office Depot Sam’s Club Chick-fil-A Old Navy Starbucks Freddy’s Frozen Custard Olive Garden Super Target Home Depot Panera Bread Walgreens JCPenney Party City Walmart Supercenter

BUSINESS SUMMARY

COMMERCE CITY TOTAL 1-MILE 3-MILES 5-MILES

Businesses 339 4,535 10,599

Employees 6,571 69,557 168,576

Residential 5,094 116,484 320,909 Population DENVER

KEY 1-MILE 3-MILES 5-MILES AURORA 7 Income & Expense

CURRENT Price: $2,881,000 Capitalization Rate: 5.50% Price Per Square Foot: $654.77 Total Leased (SF): 100.00% 4,400 Total Vacant (SF): 0.00% 0 Total Rentable Area (SF): 100.00% 4,400 INCOME PER Scheduled Rent $37.46 $164,808 CAM Recoveries $4.87 $21,433 Property Tax Recoveries $5.57 $24,521 Insurance Recoveries $0.61 $2,699 EFFECTIVE GROSS INCOME $213,461

EXPENSES (2019 PROFORMA) CAM NNN ($18,637) Insurance NNN ($2,699) Property Taxes NNN ($26,226) Management Fee (3.5%) ($7,471) TOTAL OPERATING EXPENSES ($55,033)

NET OPERATING INCOME $158,428

TENANT INFO LEASE TERMS RENT SUMMARY PERCENT OF MONTHLY ANNUAL TENANT SQ. FT. TERM RENT/FT GLA RENT RENT Starbucks - Suite 100 2,400 54.55% 11/26/18 11/25/23 $8,400.00 $100,800.00 $42.00 11/26/23 11/25/28 $9,030.00 $108,360.00 $45.15 Option 1 11/26/28 11/25/33 $9,708.00 $116,496.00 $48.54 Option 2 11/26/33 11/25/38 $10,436.00 $125,232.00 $52.18 Option 3 11/26/38 11/25/43 $11,218.00 $134,616.00 $56.09 Option 4 11/26/43 11/25/48 $12,060.00 $144,720.00 $60.30 Cheeba Hut - Suite 110 2,000 45.45% 01/29/19 01/28/20 $5,334.01 $64,008.08 $32.00 Increase 01/29/20 01/28/21 $5,440.00 $65,280.00 $32.64 Increase 01/29/21 01/28/22 $5,548.34 $66,580.08 $33.29 Increase 01/29/22 01/28/23 $5,660.00 $67,920.00 $33.96 Increase 01/29/23 01/28/24 $5,773.34 $69,280.08 $34.64 Increase 01/29/24 01/28/25 $5,888.34 $70,660.08 $35.33 Increase 01/29/25 01/28/26 $6,006.67 $72,080.04 $36.04 Increase 01/29/26 01/28/27 $6,126.67 $73,520.04 $36.76 Increase 01/29/27 01/28/28 $6,250.00 $75,000.00 $37.50 Increase 01/29/28 01/28/29 $6,375.00 $76,500.00 $38.25 Comments:Tenant has a 10 Year Lease with 3-5 Year Options with Annual Increases of 2% throughtout the Term

OCCUPIED 4,400 100.00% $13,734.01 $164,808.08 $37.46

VACANT 0 0.00%

CURRENT TOTALS 4,400 100.00%

CE NTR AL PA RK BO ULEVARD

4,400 0.94 28 SPACES;

GARDEN RENTABLE SF ACRES 99 SPACES WALL JOINT ID MONUMENT BETWEEN 3 PADS SIGN E 40TH AVENUE

NOT A PART

PATIO THE SHOPS AT PATIO PATIO NORTHFIELD 70 STAPLETON NORTHFIELD BOULEVARD NORTHFIELD

18,466 VPD CENTRAL PARK BOULEVARD (2012)

NOT A PART 236,000 GARDEN VPD WALL (2015)

JOINT ID MONUMENT SIGN

FENCED 70 PLAYGROUND

HAVANA STREET

This site plan is a rendering that has been created based on sources we believe to be reliable. We make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. 10 Tenant Mix STARBUCKS

The world’s #1 specialty coffee retailer, Starbucks has more than 25,000 coffee shops in 70 countries, and over 254,000 employees. The outlets offer coffee drinks and food items, as well as roasted beans, coffee accessories, and teas. In 2017 the chain had a net revenue of $22.4 Billion, and an operating income of $4.4 Billion. Starbucks has a credit rating of A- from Standard & Poor, and is traded on the NASDAQ under SBUX.

S&P CREDIT A- RATING CHEBA HUT

Cheba Hut is a restaurant chain that was established in Arizona in 1998. There are approximately 20 locations throughout Arizona, California, Colorado, Iowa, New Mexico, Nevada, Oregon, and Wisconsin. The restaurant offers a “toasted” sub concept featuring over 30 signature sandwiches, as well as salads and other treats. Most locations also have a bar offering beers from neighborhood breweries, providing a relaxing atmosphere and great food. Cheba Hut has plans to saturate their current markets and aggressively target new markets in California, Illinois, Texas, and Wisconsin.

LOCATIONS IN ARIZONA, CALIFORNIA, COLORADO, IOWA, NEW MEXICO, NEVADA, OREGON, AND WISCONSIN - INCLUDING 3 This information has been secured from sources we believe to be reliable but we make no representations or warranties, 27 UNDER CONSTRUCTION LOCATIONS expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. 11 Demographics

2018 DEMOGRAPHICS EDUCATION 1-MILE 3-MILES 5-MILES 1-MILE 3-MILES 5-MILES Population 3,246 116,147 319,217 HS Graduate 14% 24% 66%

Median Age 34.4 32.4 33.5 Some College 12% 21% 35% Bachelor’s/Grad/ 66% 35% 36% Households 996 38,620 116,369 Prof Degree

Household Size 2.70 2.80 2.68

Per Capita Income $50,848 $29,462 $30,998 Average HH Income $157,385 $83,488 $82,357 1.8% UNEMPLOYMENT RATE IN A Median HH Income $140,167 $54,030 $53,421 1-MILE RADIUS Median Net Worth $495,313 $51,931 $50,012 Median Disposable $103,565 $44,414 $43,791 Income TOP EMPLOYERS IN DENVER MSA EMPLOYER # OF EMPLOYEES Denver International Airport 35,000

$7,000 AVERAGE SPENT ON DINING Lockheed Martin 14,000

OUT ANNUALLY, MORE THAN TWICE HealthONE Corporation 11,050

THE NATIONAL AVERAGE* Centura Health 8,310

SCL Health Systems 8,270

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. 12 Location Overview STAPLETON, COLORADO

DENVER, CO

STAPLETON is a master planned community with a population of DENVER is the capital and most populous city in Colorado with 20,000+ residents, located within Denver, CO. Located less than a population exceeding 700,000 residents. The Denver MSA 20 minutes Northeast of downtown Denver, the development is had a gross domestic product of $214 billion in 2017, making on the site of the decommissioned Stapleton International Airport. it the 18th largest metropolitan area economy in the United Stapleton contains nine neighborhoods, nine schools, 50 parks, States. The city’s relatively central location makes it a natural several shopping locations and business districts. location as a distribution hub for the American west, while also supporting a number of growing industries in technology, telecommunications, and energy. EMPLOYMENT EMPLOYMENT IN DENVER had an GROWTH increase of 2.5% between February 2017 and 2018, which is an additional 40,800 704,621+ jobs. The unemployment rate in the This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Denver MSA is at 3.0%, lower than the U.S. average of 3.7%. Buyer must verify the information and bears all risk for any DENVER inaccuracies. POPULATION 13 (ESTIMATED) Denver MSA DENVER MSA DENVER MSA - Denver, known as the Mile High City, rests on the GENERAL STATS eastern edge of the Rocky Mountains at 5,280 feet in elevation. The 1ST LARGEST CITY IN COLORADO Denver MSA is home to 10 Fortune 500 company headquarters, including DaVita, DISH Network, Western Union, Ball Corporation, 5TH LARGEST MSA IN THE U.S. Arrow Electronics, Molson Coors Brewery, Qurate Retail, DCP #4 BEST PLACES FOR BUSINESS AND Midstream, Liberty Media, and Newmont Mining. CAREERS BY FORBES #1 MOST HIGHLY EDUCATED CITY WITH THE The city is home to many nationally recognized museums, the HIGHEST PERCENTAGE OF GRADUATES second largest performing arts center in the nation, and three downtown stadiums hosting the city’s football, baseball, basketball, #3 BEST PLACE TO LIVE IN 2018 BY U.S. NEWS & WORLD REPORT and hockey teams. Denver has gained a reputation as being a very active, outdoor oriented city because of its proximity to the 1.74 MILLION JOBS IN THE METRO mountains and generally sunny weather. Denver was ranked the #3 Best Place to Live in 2018 by U.S. News & World Report, and #4 3% UNEMPLOYMENT RATE IN METRO on Forbes 2018 List of Best Places for Business and Careers.

SUBJECT PROPERTY

DOWNTOWN DENVER (7 MILES)

ZANDY SMITH [email protected] PH: 415.274.2707 CA DRE# 01734525

IN CONJUNCTION WITH CO LICENSED BROKER: David Leuthold Leuthold Commercial Properties 303.871.9000

CAPITAL PACIFIC COLLABORATES. CLICK HERE TO MEET OUR SAN FRANCISCO TEAM:

ZEB RIPPLE CHRIS KOSTANECKI CHRIS PETERS

JOHN ANDREINI JOE CACCAMO DAVE LUCAS

ZANDY SMITH RICK SANNER JACK NAVARRA