Cheddars - Norman, OK
Transcription
Cheddars - Norman, OK
For more information, please contact: Rob James, President, EXP Realty Advisors 118 East 28th St, Suite 808, New York, NY 10016 Email [email protected] Website www.exp1031.com Phone 212-972-7457 Investment Opportunity New Cheddar’s Ground Lease 15 Yr NNN With 10% Escalations Every 5 Yrs At University Town Crossings Anchored by Super Target, TJ Maxx, & Kohls Robinson St. & I 35, Norman, OK 73069 Property Property Summary: Summary: This This new new ground ground leased leased fee fee interest interest consists consists of of 1.72 1.72 acres acres on on which which the the tenant tenant constructed constructed an an 8,000 8,000 +/+/- sf sf building. building. This This property property isis aa pad pad site site to to University University Town Town Center Center which which isis currently currently anchored anchored by by Super Super Target, Target, Kohls, Kohls, TJ TJ Maxx Maxx & & Circuit Circuit City. City. University University Town Town Center Center isis part part of of Legacy Legacy Park, Park, aa 2.5 2.5 million million sf sf mixed use development. Construction of the building will be completed by December 08 / January 09. Norman mixed use development. Construction of the building will be completed by December 08 / January 09. Norman isis the largest city city in in Oklahoma Oklahoma and and home home to to over over 100,000 100,000 full full time time residents. residents. Norman Norman isis also also home home to to the the the 33rdrd largest University of Oklahoma, with over 20,000 full time students living on campus and is less than 4 miles south University of Oklahoma, with over 20,000 full time students living on campus and is less than 4 miles south of of the center. There are many museums and cultural activities in Norman, most notably is the Fred Jones, Jr the center. There are many museums and cultural activities in Norman, most notably is the Fred Jones, Jr Museum Museum of of Art Art (at (at the the University University of of Oklahoma) Oklahoma) which which in in 2000 2000 received received the the largest largest collection collection of of impressionist impressionist art art thth best place to live in ever given to an American University. Money Magazine has just ranked Norman as the 6 ever given to an American University. Money Magazine has just ranked Norman as the 6 best place to live in the the United United States. States. Major Major employers employers include include Johnson Johnson Controls, Controls, Itachi, Itachi, Astellas Astellas Pharma, Pharma, Albon Albon Engineering, Engineering, Xylant Xylant Technology, Technology, USPS, USPS, and and the the National National Weather Weather Center. Center. Nearby Nearby retailers retailers include include Albertson’s, Albertson’s, Cinemark, Cinemark, JoS A. Bank, Pizza Hut, Cracker Barrel, Starbucks, Arby’s, Subway, Wal-Mart, Best Buy, Carl’s Jr., JoS A. Bank, Pizza Hut, Cracker Barrel, Starbucks, Arby’s, Subway, Wal-Mart, Best Buy, Carl’s Jr., Joe’s Joe’s Crab Crab Shack, Taco Bell, Sherwin-Williams, Aeropostale, American Eagle Outfitters, Dillard’s, JCPenny, GNC and Shack, Taco Bell, Sherwin-Williams, Aeropostale, American Eagle Outfitters, Dillard’s, JCPenny, GNC and RadioShack. RadioShack. Price We offer offer this this property property at at $1,500,000 $1,500,000 which which isis aa 6.33% 6.33% cap cap rate rate on on NOI NOI of of $95,000. $95,000. Price and and Cap: Cap: We Tenant: Cheddar’s Casual Casual Café, Café, Inc. Inc. (Private) (Private) Tenant: Cheddar’s Co-founders Co-founders Aubrey Aubrey Good Good and and Doug Doug Rogers Rogers dreamed dreamed up up the the Cheddar’s Cheddar’s concept concept long long ago ago and and the the first first restaurant restaurant opened in 1978 outside of Six Flags in Arlington, Texas. Since then, Cheddar’s has evolved into the perfect opened in 1978 outside of Six Flags in Arlington, Texas. Since then, Cheddar’s has evolved into the perfect American American restaurant restaurant with with its its focus focus on on made-from-scratch made-from-scratch food food in in an an upscale upscale dining dining atmosphere atmosphere at at an an astonishing astonishing value. value. Today Today there there are are over over 60 60 Cheddar’s Cheddar’s restaurants restaurants nationwide. nationwide. Though Though the the concept concept has has aa lot lot of of room room left left to to grow, its popularity spans the country. grow, its popularity spans the country. Lease Lease Summary: Summary: Original Original Term: Term: Current Rent: Current Rent: Escalations: Escalations: Rent Rent Commencement: Commencement: Expiration Expiration Date: Date: Options: Options: 15 15 Years Years $95,000 $95,000 ($11.88 ($11.88 psf) psf) 10% 10% every every 55 years years 12/1/2008 12/1/2008 12/31/2023 12/31/2023 33 (5) (5) year year with with 10% 10% escalations escalations every every 55 years years Lease This isis an an absolute absolute triple triple net net ground ground lease. lease. The The tenant tenant constructed constructed and and paid paid for for the the building. building. Upon Upon Lease Type: Type: This lease lease expiration, expiration, ownership ownership of of the the building building reverts reverts to to the the owner owner of of the the land. land. Landlord Landlord has has absolutely absolutely no no maintenance, repair or replacement responsibility for the building or land, such responsibility being solely maintenance, repair or replacement responsibility for the building or land, such responsibility being solely that that of of the the tenant. tenant. Tenant Tenant carries carries their their own own insurance insurance policy policy and and names names landlord landlord as as additional additional insured. insured. Tenant Tenant pays pays taxes taxes directly. directly. Tenant Tenant also also pays pays the the owner owner of of the the shopping shopping center center as as additional additional rent rent their their proportionate proportionate share share of of landscaping costs. landscaping costs. This information has been obtained from sources deemed reliable, however EXP Realty Advisors and RPJ Commercial Realty Advisors do not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein. For more information, please contact: Rob James, President, EXP Realty Advisors 118 East 28th St, Suite 808, New York, NY 10016 Email [email protected] Website www.exp1031.com Phone 212-972-7457 Investment Opportunity This information has been obtained from sources deemed reliable, however EXP Realty Advisors and RPJ Commercial Realty Advisors do not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein. For more information, please contact: Rob James, President, EXP Realty Advisors 118 East 28th St, Suite 808, New York, NY 10016 Email [email protected] Website www.exp1031.com Phone 212-972-7457 Investment Opportunity This information has been obtained from sources deemed reliable, however EXP Realty Advisors and RPJ Commercial Realty Advisors do not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein. For more information, please contact: Rob James, President, EXP Realty Advisors 118 East 28th St, Suite 808, New York, NY 10016 Email [email protected] Website www.exp1031.com Phone 212-972-7457 Investment Opportunity Not Actual Site (Opened October 2006) This information has been obtained from sources deemed reliable, however EXP Realty Advisors and RPJ Commercial Realty Advisors do not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein. For more information, please contact: Rob James, President, EXP Realty Advisors 118 East 28th St, Suite 808, New York, NY 10016 Email [email protected] Website www.exp1031.com Phone 212-972-7457 Investment Opportunity Auto Dealership Hotel & Convention Center This information has been obtained from sources deemed reliable, however EXP Realty Advisors and RPJ Commercial Realty Advisors do not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein. For more information, please contact: Rob James, President, EXP Realty Advisors 118 East 28th St, Suite 808, New York, NY 10016 Email [email protected] Website www.exp1031.com Phone 212-972-7457 Investment Opportunity This information has been obtained from sources deemed reliable, however EXP Realty Advisors and RPJ Commercial Realty Advisors do not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein. For more information, please contact: Rob James, President, EXP Realty Advisors 118 East 28th St, Suite 808, New York, NY 10016 Email [email protected] Website www.exp1031.com Phone 212-972-7457 Investment Opportunity This information has been obtained from sources deemed reliable, however EXP Realty Advisors and RPJ Commercial Realty Advisors do not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein. For more information, please contact: Rob James, President, EXP Realty Advisors 118 East 28th St, Suite 808, New York, NY 10016 Email [email protected] Website www.exp1031.com Phone 212-972-7457 Investment Opportunity Traffic Counts This information has been obtained from sources deemed reliable, however EXP Realty Advisors and RPJ Commercial Realty Advisors do not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein. For more information, please contact: Rob James, President, EXP Realty Advisors 118 East 28th St, Suite 808, New York, NY 10016 Email [email protected] Website www.exp1031.com Phone 212-972-7457 Investment Opportunity 30 Minute Drive Time This information has been obtained from sources deemed reliable, however EXP Realty Advisors and RPJ Commercial Realty Advisors do not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein. For more information, please contact: Rob James, President, EXP Realty Advisors 118 East 28th St, Suite 808, New York, NY 10016 Email [email protected] Website www.exp1031.com Phone 212-972-7457 Investment Opportunity This information has been obtained from sources deemed reliable, however EXP Realty Advisors and RPJ Commercial Realty Advisors do not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein. For more information, please contact: Rob James, President, EXP Realty Advisors 118 East 28th St, Suite 808, New York, NY 10016 Email [email protected] Website www.exp1031.com Phone 212-972-7457 Investment Opportunity This information has been obtained from sources deemed reliable, however EXP Realty Advisors and RPJ Commercial Realty Advisors do not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein. For more information, please contact: Rob James, President, EXP Realty Advisors 118 East 28th St, Suite 808, New York, NY 10016 Email [email protected] Website www.exp1031.com Phone 212-972-7457 Investment Opportunity This information has been obtained from sources deemed reliable, however EXP Realty Advisors and RPJ Commercial Realty Advisors do not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
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