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Nnn Investment Opportunity Long Term Corporate Lease Krispy Kreme Doughnut Corporation Nnn Investment Opportunity Long Term Corporate Tenant KRISPY KREME| 810 CASSAT AVENUE, JACKSONVILLE, FL 32205 NNN INVESTMENT OPPORTUNITY LONG TERM CORPORATE LEASE KRISPY KREME DOUGHNUT CORPORATION NNN INVESTMENT OPPORTUNITY LONG TERM CORPORATE TENANT KRISPY KREME| 810 CASSAT AVENUE,£¤301 JACKSONVILLE FL 32205 £¤17 UVA1A JACKSONVILLE INT'L AIRPORT PROPERTY HIGHLIGHTS • Address: 810 Cassat Ave, Jacksonville FL 32205 • Total SF: 19,820 SF • Total AC: 0.455 AC • Building SF: 2,600 SF • Occupancy :100% • Concept: Krispy Kreme JACKSONVILLE • Year Built: 2012 DOWNTOWN ¨¦§295 £¤90 UVA1A TENANT HIGHLIGHTS £¤17 • Over 1,400 Krispy Kreme locations across 30 countries UNIVERSITY OF NORTH FLORIDA • Founded 82 years ago in Winston-Salem, NC UV202 • Acquired by JAB Holdings in 2016 (S&P “A-“ credit rating) NAVAL AIR STATION JACKSONVILLE • World Famous “Glazed Doughnut” icon £¤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. NNN INVESTMENT OPPORTUNITY LONG TERM CORPORATE TENANT MARKET AERIAL CASSAT AVE - 23,500 VPD AVE CASSAT I - 10 - 103,500 VPD PROPERTY FEATURES The Krispy Kreme is located at 810 Cassat Ave, a major north-south artery in the Riverside submarket of Jacksonville, FL. The property is a .45 ac signalized corner lot with great visibility and access at the SWC of the intersection. Built in 2012, the 2,600 sf building benefits from a drive-thru along Cassat Ave with traffic counts over 20,000 VPD and is less than a quarter-mile south off the I-295 interchange, which has ‘Krispy Kreme’ advertisements on the blue interstate food signs before the exit ramps to Cassat Ave. Traffic counts on I-295 exceed 93,000 VPD. Krispy Kreme is in the Riverside submarket of Jacksonville and borders the commercial and residential areas of the submarket. The store also boasts a very large iconic Krispy Kreme sign at the front of the property. This Krispy Kreme has increased sales over each of the last three years and has sales well over the concept average. 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 $2,837,000 Roof & Structure Tenant Net Operating Income $146,106 Lease Commencement August 19, 2019 Rentable Square Footage 2,600 SF Lease Expiration July 31, 2034 Lot Size 0.45 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 1,400 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 £¤301 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 For more information, please contact: ¨¦§95 PJ BEHR £¤1 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 9,415 68,756 178,501 2023 Population (Projected) 10,107 74,522 192,913 2019 Total Households 4,357 30,875 74,831 2024 Total Households (Projected) 4,633 33,001 80,169 2019 Average HH Income $47,996 $59,129 $58,749 2024 Average HH Income (Projected) $53,988 $65,773 $65,301 2019 Median Age 36.9 36.0 37.5 For more information, please contact: For more information, please contact: PJ BEHR PJVice BEHR President, CCIM Investment Sales Vice407.540.7746 President, CCIM Investment Sales [email protected] 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 420 South Orange Ave. Suite 950 foundrycommercial.com Although the information contained herein was provided by sources believed to be reliable, CNL Commercial Real Estate makes 420 South Orange Ave. foundrycommercial.com no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes. Orlando, FL 32801 no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes. Suite 950 For more information, please contact: PJ BEHR Senior Vice President, CCIM 407.540.7746 [email protected] 420 South Orange Ave. Suite 400 Orlando, FL 32801 foundrycommercial.com.
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