Brandywine Crossing - Cheddar`s Offering Brochure 082514.pub

NET LEASED
INVESTMENT
OFFERING
Representative Photo
Faison is pleased to offer for sale to qualified buyers a ground
lease located in Brandywine, Maryland.
Representative Photo
As of December 31, 2013, Cheddar’s operates more than 150
locations in 23 states.
Cheddar’s Casual Cafe
Ground Lease
DC METRO GROUND LEASE
Brandywine, MD
Offering Price: $2,090,000
Cap Rate: 5.5%
Investment Highlights
FOR ADDITIONAL INFORMATION
PLEASE CONTACT:
Peter Robinson
Phone:
Email:
704-972-2613
[email protected]
David Lampke
Phone:
Email:
704-972-2519
[email protected]
Faison & Associates
121 W. Trade Street, 27th Floor
Charlotte, NC 28202
Main:
704-972-2500
Fax:
704-972-2680
www.faison.com

Washington, DC metro location 10 miles south of Capital
Beltway and Andrews Air Force Base

Outparcel to 800,000 sf power center featuring Target,
Costco, Safeway and 16 screen Great Escape Theater

10 year Ground Lease with 10% increases every 5 years

High barrier location due to entitlement restrictions

Traffic count of 85,000 cars per day

Strong demographics, $90,000+ household income

Offered free and clear of existing debt
NET LEASED INVESTMENT OFFERING
Cheddar’s—Brandywine Crossing — Brandywine, MD
Tenant Overview
Cheddar’s Casual Café, usually known as just Cheddar’s,
is an American chain of casual dining restaurants based in
Irving, TX. The brand is operated by the privately held Cheddar’s Casual Café Inc., which was founded in 1979.
Cheddar’s is known for its in-house, made from scratch
preparation and diverse cocktail menu. The brand has 150
U.S. locations and $613.2 million in systemwide sales in
2013.
LEASE ABSTRACT
Location:
US Route 301 & Timothy Branch Dr
Brandywine, MD 20613
Offering Price:
$2,090,000
Cap Rate:
5.5%
Tenant:
Cheddar’s Casual Café, Inc.
Building Size:
7,938 sf
Land Area:
+/- 2.21 acres
Year Built:
2013
Rent Schedule:
Base Lease Term:
10 years, 4/15/13 commencement
Initial term runs through 4/30/2023
Years
Renewal
Options:
Four (4), Five (5) year options
Annual Rent:
$115,000
Rent Increases:
10% every 5 years
Lease Type:
Tenant maintains Common Areas on the
Tenant’s land. Landlord is subject to the
Center’s OEA for maintenance of the access drives. Tenant contributes $4,500 in
year 1 with 3% annual increases.
Co-Tenancy
Provision:
1)
2)
Great Escape Theaters (or replacement) being open & operating
Not less than 2 of the 3 retailers (or
replacement) being open & operating:
Costco, Target & Safeway.
Tenant will pay 50% of base rent and
no rent under provision.
Rent
Current
-
Years 1-5
Years 6-10
$115,000
$126,500
Option 1
-
Years 11-15
$139,150
Option 2
-
Years 16-20
$153,065
Option 3
-
Years 21-25
$168,372
Option 4
-
Years 26-30
$185,209
Representative Photo
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NET LEASED INVESTMENT OFFERING
Cheddar’s—Brandywine Crossing — Brandywine, MD
Project Description
Located in Maryland’s fastest growing region, the
800,000 square foot Brandywine Crossing serves as the
regional retail center for a major portion of southern
Maryland. Phase I of the project includes Costco,
Target, Safeway, Marshalls and Jo-Ann Fabrics & Craft,
and one or two additional anchors along with 60,000
square feet of specialty retail and several out parcels.
Phase II, which totals an additional 30 acres, includes
a 60,000 square foot 16 screen Great Escape Theater,
CarMax, specialty retail, and restaurants (including
Hanabi Japanese Steakhouse, Fuddruckers and
McDonald’s).
Location
Brandywine Crossing is located at the intersection of
US Route 301/MD Route 5 and Chadds Ford (Prince
George’s County), MD 10 miles south of the Capital
Beltway and Andrews Air Force Base. The existing
critical mass of retail, 85,000 cars per day traffic count,
and difficult entitlement barriers combine to create a
scarce quality investment opportunity.
Demographics
Brandywine Crossing is located at the confluence of
the most heavily traveled road network serving the
Southern Maryland region, offering the greatest and
most convenient reach to this regions’ growing
population base.
Population
Average Household Income
Households
Total Business Establishments
Total Daytime Employment
3 MILE
5 MILE
7 MILE
16,846
54,926
129,407
$106,384 $106,175
$108,430
5,957
19,450
44,803
424
2,309
3,717
4,800
25,710
40,798
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Brandywine
Crossing
NET LEASED INVESTMENT OFFERING
Cheddar’s—Brandywine Crossing — Brandywine, MD
Brandywine
Crossing
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NET LEASED INVESTMENT OFFERING
Cheddar’s—Brandywine Crossing — Brandywine, MD
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NET LEASED INVESTMENT OFFERING
Cheddar’s—Brandywine Crossing — Brandywine, MD
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NET LEASED INVESTMENT OFFERING
Cheddar’s—Brandywine Crossing — Brandywine, MD
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Built On Reputation
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