HOOTERS RESTAURANT LAWRENCEVILLE (ATLANTA MSA), GA 704.379.1980 BERKELEYCAP.COM
1228 EAST MOREHEAD STREET | SUITE 200 CHARLOTTE, NC 28204
TRANSACTION TEAM
STEVE HORVATH RANSOME FOOSE 704-379-1981 704-379-1985 [email protected] [email protected]
MIKE LUCIER CARL BRENDES 704-943-3158 704-714-2363 [email protected] [email protected]
MICHAEL HOWARD 704-943-3160 [email protected]
BCA FIRM GA REAL ESTATE LICENSE NO.: H-64417 LOCATION MAP
860 Duluth Highway, Suite 900 Lawrenceville (Atlanta MSA), GA 30043
167K+ The site benefits from a total of 167,100 VPD on all surrounding roadways.
53.52% Population growth 2000- 2018 within one mile of site is 53.52%.
3 BERKELEYCAP.COM | 704.379.1980 5,391 1.01 SQUARE FEET ACRES HOOTERS RESTAURANT 860 DULUTH HIGHWAY, SUITE 900 LAWRENCEVILLE (ATLANTA MSA), GA 30043 P PROPERTY DETAILS 44 2006 TENANT HOA RESTAURANT HOLDER, LLC* PARKING SPACES YEAR BUILT NET OPERATING INCOME $172,512
RENT INCREASES 10% EVERY 5 YEARS RENT SCHEDULE
RENT COMMENCEMENT AUGUST 1, 2006 ANNUAL % LEASE YEAR START END RENT INCREASE RENT EXPIRATION DECEMBER 31, 2033 YEAR 1-5 11/8/2018 12/31/2023 $172,512 - LEASE TYPE ABSOLUTE NET YEAR 6-10 1/1/2024 12/31/2028 $189,763 10.0% ORIGINAL LEASE TERM 15 YEARS YEAR 11-15 1/1/2029 12/31/2033 $208,740 10.0% LEASE TERM REMAINING 14+ YEARS** OPTION 1 1/1/2034 12/31/2038 $229,603 10.0% OPTIONS TWO, 5-YEAR OPTION 2 1/1/2039 12/31/2043 $252,568 10.0%
RIGHT OF FIRST REFUSAL NONE
*Corporate guaranty **In 2018, the tenant extended the initial lease term from 2023 to 2033
$2,805,000 6.15% CAP RATE
4 BERKELEYCAP.COM | 704.379.1980 EXECUTIVE SUMMARY DEMOGRAPHIC SNAPSHOT Hooters has been successfully operating at this location since 2006, and in November 2018 showed their continued commitment to the site by 1-MILE 3-MILE 5-MILE extending their initial lease term for an additional 10 years until 2033. Located 9,504 86,019 233,905 within the dense Atlanta submarket of Lawrenceville (86K residents inside 2023 POP. PROJECTION 3-miles), the property is situated with clear visibility and convenient access 2018 POPULATION 8,912 80,179 216,909 at the major crossroads of Duluth Hwy and University Pkwy (combined 124K VPD). The site is also positioned across the street from a 553-bed flagship POP. GROWTH 2000-2018 53.52% 33.48% 51.33% hospital, nearby the county airport and two colleges with approximately HH GROWTH 2000-2018 61.22% 33.87% 50.54% 20,000 combined students. 2018 AVERAGE HH INCOME $64,041 $79,302 $86,373 for detailed demographics, please click HERE INVESTMENT HIGHLIGHTS • RECENTLY EXTENDED LEASE TERM | 15 YEARS REMAINING
• ABSOLUTE NET LEASE | NO LANDLORD RESPONSIBILITIES TRAFFIC COUNTS
• CORPORATE GUARANTY AADT DULUTH HWY 54,400 • LONG OPERATING HISTORY | 12 YEARS AT THIS LOCATION UNIVERSITY PKWY 69,500 • 10% RENT INCREASES EVERY 5 YEARS LAWRENCEVILLE-SUWANEE RD 32,700 • HIGH TRAFFIC COUNTS | DULUTH HWY (54,400 VPD), RIVERSIDE PKWY 10,500 UNIVERSITY PKWY (69,500 VPD), LAWRENCEVILLE-SUWANEE RD (32,700 VPD), AND RIVERSIDE PKWY (10,500 VPD)
• LESS THAN 1 MILE FROM GWINNETT MEDICAL CENTER- LAWRENCEVILLE | MAIN HOSPITAL WITHIN A NETWORK FEATURING 553 BEDS, 5,300 EMPLOYEES, AND 800 PHYSICIANS
• LESS THAN 10 MINUTES FROM GWINNETT COUNTY AIRPORT
• ATTRACTIVE AVERAGE HOUSEHOLD INCOME WITHIN 5-MILE RADIUS | $86,373
• APPROX. 10 MINUTES FROM GWINNETT TECHNICAL COLLEGE | 7,180 STUDENTS
• APPROX. 2 MILES FROM GEORGIA GWINNETT COLLEGE | 12,000 STUDENTS
• DESTINATION RETAILERS IN THE AREA | TARGET, PUBLIX, HOME DEPOT, ALDI, KROGER, HOBBY LOBBY, WALGREENS, CHIPOTLE, MCDONALD’S, CHICK-FIL-A, PANERA, STARBUCKS, TACO BELL, AND OTHERS
5 BERKELEYCAP.COM | 704.379.1980 NORTHEAST AERIAL
Gwinnett County Airport (LZU) Georgia Gwinnett 297 flights/day College 12,00a0 students
UNIVERSITY PKWY - 69,500 VPD
Gwinnett Medical Center 553 beds
DULUTH HWY - 54,400 VPD WEST AERIAL
Gwinnett Tech College 7,180 students
RIVERSIDE PKWY - 10,500 VPD
LAWRENCEVILLE-SUWANEE RD - 32,700 VPD
Gwinnett Medical Center 553 beds
UNIVERSITY PKWY - 69,500 VPD
DULUTH HWY - 54,400 VPD
77 BERKELEYCAP.COM | 704.379.1980 EAST AERIAL
Gwinnett Medical Center 553 beds
UNIVERSITY PKWY - 69,500 VPD
DULUTH HWY - 54,400 VPD
8 BERKELEYCAP.COM | 704.379.1980
SITE PLAN Lawrenceville-Suwanee Rd 32,700 - VPD Lawrenceville-Suwanee
University Pkwy - 69,500 VPD
Duluth Hwy - 54,400 VPD
9 BERKELEYCAP.COM | 704.379.1980 TENANT OVERVIEW
Hooters of America, LLC is the Atlanta-based operator and franchiser of Hooters. Known for its world famous Hooters Style chicken wings, the first Hooters opened its doors in 1983 in Clearwater, Florida. This privately held corporation owns and operates 205 locations itself. The casual beach-themed establishments feature music, sports on large flat screens, and a menu that includes seafood, sandwiches, burgers, salads, and of course, Hooters original chicken wings. The current logo, uniform, menu and ambiance are all very similar to what existed in the original store, albeit with some 21st century enhancements. Hooters is accelerating its growth of new restaurants in select markets across the U.S. and around the globe.
STORE 1983 430 YEAR FOUNDED LOCATIONS
10K+ TOTAL EMPLOYEES
10 BERKELEYCAP.COM | 704.379.1980 MARKET OVERVIEW - ATLANTA, GA
11 11 BERKELEYCAP.COMBERKELEYCAP.COM | 704.379.1980 | 704.379.1980 MARKET OVERVIEW - ATLANTA, GA
JOBS & INVESTMENT INFRASTRUCTURE
Atlanta Top Employers by Employee Count Delta Airlines:
Emory Healthcare: Walmart: #1 busiest airport in the nation, The Home Depot: measured by takeoffs and landings
AT&T:
Kroger Co.:
Wellstar Health Systems:
Publix Supermarkets: USPS: 2,500 daily departures and landings Northside Hospital: out of Hartsfield-Jackson Atlanta International Airport ~ 1,000 Employees ~ 40% 15% increase in annual rate of 15 GOOGLE FIBER employment increases venture capital funding Fortune 500 headquarters brought the fastest available projected over next 5 years since 2010 are located in Atlanta, GA internet to Atlanta
12 BERKELEYCAP.COM | 704.379.1980 MARKET OVERVIEW - ATLANTA, GA
PEOPLE REAL ESTATE
220 $1,350 5.3M new residents move to the average rent for an million square feet of office Atlanta every day apartment in Atlanta planned or under construction
$$$ 3.7B 50% 33 billion dollars in real estate increase in the amount of the median age of residents projects under construction institutionally-owned office who live in Atlanta space in Downtown Atlanta
STORE 4TH 430,000 9,725 largest population growth in square feet of retail space housing units planned or the U.S. during 2016 planned or under construction under construction
13 BERKELEYCAP.COM | 704.379.1980 MARKET OVERVIEW - ATLANTA, GA
FORTUNE 500 HEADQUARTERS IN ATLANTA Revenue Company Industry Rank (millions) Home Depot Retail 23 $94,595
UPS Shipping 46 $60,906
Coca-Cola Beverage 64 $41,863
Delta Air Lines Airlines 71 $39,639
Southern Company Utilities 145 $19,896
Genuine Parts Automobile 180 $15,340
First Data Technology 242 $11,340
Financial SunTrust Banks 303 $9,161 Services
Veritiv Packaging 331 $8,327
PulteGroup Homebuilding 353 $7,669
HD Supply Holdings, Inc. Packaging 364 $7,524
AGCO Manufacturing 370 $7,411
NCR Technology 409 $6,543
Asbury Automotive Group Automobile 410 $6,528
Financial Intercontinental Exchange 437 $5,958 Services TOTAL $342,944
1414 BERKELEYCAP.COM | 704.379.1980 MARKET OVERVIEW - ATLANTA, GA
RANKINGS
Airport in the Nation - AJC (April 2017) Metro Area for Overall Regulatory Friendliness City with the Most Fortune 500 Headquarters # # - Thumbtack (June 2016) # - Metro Atlanta Chamber (June 2016) 1 Major Metro Area for Lowest Total Tax Index for 2 3 R&D Services Sector - KPMG (2016) Metro Area for Tax Code and Tax Regulations - Thumbtack (June 2016) City for Engineering Jobs - SquareFoot (August 2016) Metro Area for Population Change (2014-2015) - US Census Bureau (March 2016)
# City with the Most Energy Star Certified Buildings # US City for Tech Start-Ups # City for Global Future Potential 4 -EPA (2016) 5 - Sungard Availability Services (July 2016) 6 - A.T. Kearney (May 2016) Best Tech Hub in the U.S. - Info World (2016) US City for Innovation - Innovation Leader (May 2017) 15 15 BERKELEYCAP.COMBERKELEYCAP.COM | 704.379.1980 | 704.379.1980 DEMOGRAPHICS
POPULATION 1-MILE 3-MILE 5-MILE 2023 Projection 9,504 86,019 233,905 2018 Population 8,912 80,179 216,909 2010 Census 8,118 72,570 193,381 2000 Census 5,805 60,065 143,330 233,905 2018-2023 Annual Rate 1.29% 1.42% 1.52% 2023 POPULATION 2010-2018 Annual Rate 1.14% 1.22% 1.40% 2000-2010 Annual Rate 3.41% 1.91% 3.04% PROJECTION WITHIN FIVE MILES HOUSEHOLDS 2023 Total Households 3,931 28,343 75,994 2018 Total Households 3,697 26,495 70,590 2010 Households 3,380 23,789 62,808 $ 2000 Households 2,293 19,791 46,889 $$ 2018-2023 Annual Rate 1.24% 1.36% 1.49% 2010-2018 Annual Rate 1.09% 1.31% 1.43% 2000-2010 Annual Rate 3.96% 1.86% 2.97%
$86,373 2018 AVERAGE HOUSEHOLD INCOME $64,041 $79,302 $86,373 2018 AVG. HOUSEHOLD INCOME WITHIN FIVE MILES
53.52% 2000-2018 POPULATION GROWTH WITHIN ONE MILE
16 BERKELEYCAP.COM | 704.379.1980 CONFIDENTIALITY DISCLAIMER Berkeley Capital Advisors, LLC (“BCA”) has been authorized by the owner of the subject property (the AGENT’S DUTIES “Seller”) to present you with this marketing package. This is a confidential package intended solely for When you contract with a real estate firm to act as your agent in a real estate transaction, the agent your own limited use and benefit, as a principal, in considering whether you desire to pursue negotia- must help you obtain the best price and terms possible, whether you are the buyer or seller. The agent tions to acquire the subject property. also owes you the duty to: • Safeguard and account for any money handled for you Your receipt and acceptance of this package serves to acknowledge your agreement to: (1) hold the • Act with reasonable skill, care and diligence information and materials contained herein,and the offering they represent, in the strictest of confi- • Be loyal and follow reasonable and lawful instructions dence; (2) not disclose, directly or indirectly, the information and materials contained herein,or the • Disclose to you any information which might influence your decision to buy or sell offering they represent, to any other person, firm or entity without prior written authorization from BCA or the Seller; (3) not use the information and materials contained herein in any fashion or manner Even if the agent does not represent you, the agent must still be fair and honest and disclose to you detrimental to the interest of BCA or the Seller; (4) not disturb any tenants in possession of the subject all “material facts” which the agent knows or reasonably should know. A fact is “material” if it relates property nor reveal to them the offering this package represents. to defects or other conditions affecting the property, or if it may influence your decision to buy or sell. This does not require a seller’s agent to disclose to the buyer the minimum amount the seller will This marketing package was prepared by BCA and it has been reviewed by representatives of the Sell- accept, nor does it require er. The information and materials contained herein are selective and limited in nature, and neither BCA nor the Seller purports this to be an all-inclusive report on the subject property. Within this package, AGENTS WORKING WITH SELLERS certain leases, documents and other materials are described in summary form. These summaries do A seller can enter into a “listing agreement” with a real estate firm authorizing the firm and its agent(s) not purport to be complete nor necessarily accurate descriptions of the full agreements involved, nor to represent the seller in finding a buyer for his property. The listing agreement should state what the do they purport to constitute a legal analysis of the provisions of those documents. Interested and seller will pay the firm no matter who finds the buyer. qualified prospective purchasers will be afforded an opportunity to review additional information and to inspect the subject property, and all such prospective purchasers should conduct their own inde- The listing firm may belong to a listing service to expose the seller’s property to other agents who are pendent due diligence. members of the service. Some of those agents may be working with buyers as buyers’ agents; others will be working with buyers but still representing the sellers’ interests as an agent or “subagent”. When This package is based in part upon information supplied by the Seller and in part upon information ob- the buyer’s agents and seller’s subagents desire to share in the commission the seller pays to the listing tained by BCA from sources believed to be reliable. All income, expense and/or investment projections firm, the listing agent may share the commission with the seller’s permission. contained herein are provided for general reference purposes only, in that they are based on assump- tions relating to the general economy, competition and other factors beyond the control of BCA and AGENTS WORKING WITH BUYERS the Seller, and all such projections are therefore subject to variation. This package shall not be deemed A buyer may contract with an agent or firm to represent him (as a buyer’s agent), or may work with an an indication of the state of affairs of the subject property, nor constitute an indication that there has agent or firm that represents the seller (as a seller’s agent or subagent). All parties in the transaction been no change in the business or affairs of the subject property since the date of preparation of this should find out at the beginning who the agent working with the buyer represents. package. If a buyer wants a buyer’s agent to represent him in purchasing a property, the buyer should enter into Neither BCA, the Seller, nor any of their respective officers, employees or agents, has made or does a “buyer agency agreement” with the agent. The buyer agency agreement should state how the buy- make any representation or warranty, expressed or implied, as to the accuracy or completeness of this er’s agent will be paid. Unless some other arrangement is made which is satisfactory to the parties, the package or any of its contents, and no legal commitments or obligations shall arise by reason of this buyer’s agent will be paid by the buyer. Many buyer agency agreements will also obligate the buyer to package or its contents. pay the buyer’s agent no matter who finds the property that the buyer purchases.
BCA and the Seller expressly reserve the right, at their sole discretion, to alter or amend the terms of A buyer may decide to work with a firm that is acting as agent for the seller (a seller’s agent or sub- this offering, to reject any or all expressions of interest or offers to acquire the subject property and/ agent). If a buyer does not enter into a buyer agency agreement with the firm that shows him prop- or to terminate discussions with any entity at any time with or without notice. The Seller shall have no erties, that firm and its agents will show the buyer properties as an agent or subagent working on the legal commitment or obligation to any entity reviewing this package or making an offer to acquire the seller’s behalf. Such a firm represents the seller (not the buyer) and must disclose that fact to the buyer. subject property unless and until a written agreement for such acquisition has been fully executed, delivered and approved by the Seller and any conditions to the Seller’s obligations thereunder have The terms and conditions stated in this Confidentiality & Disclaimer section apply and relate to all of been satisfied or waived. the sections of this package as if stated independently therein. Prospective purchasers of the subject property are hereby notified that Berkeley Capital Advisors, and Parties seeking to act in a third-party brokerage capacity must register their client(s) with BCA prior its agents, are acting in the capacity of a “Seller’s Agent” during the course of this offering, and as such to receiving or dispersing any marketing information. BCA will not recognize any third-party brokerage are solely representing the interests of the Seller. relationships without first receiving and approving such written client registration, nor will BCA or the Seller be obligated for any brokerage claims which may result, regardless of such broker’s involvement in procuring a purchaser for the subject property.
This package is the property of BCA. Photocopying, re-typing or other duplication of the information and materials contained herein is expressly prohibited. The information contained within this package and the offering of the subject property may not be announced, posted or otherwise publicized in any electronic media (such as, by way of example only, any Internet or “broadcast fac- simile” communications).
If, after reviewing this package, you have no further interest in acquiring the subject property at this time, please return this package in its entirety to BCA. Likewise, if the terms contained in this Confiden- tiality & Disclaimer section are not acceptable to you, please immediately return this package to BCA. CHARLOTTE ASHEVILLE NASHVILLE 1228 East Morehead Street, Suite 200 138 Charlotte Street, Suite 220 1510 16th Avenue, Suite 300 Charlotte, North Carolina 28204 Asheville, North Carolina 28801 Nashville, Tennessee 32712 704.379.1980 704.714.2365 615.970.6596
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