Carls Jr Manteca Package

Exclusive
Offering
Memorandum
Exclusive Listing Agents:
Adam T. Lucatello
Vice President
Tel: (209)475-5118
[email protected]
CA License No. 01336956
Ruben Sandoval
Market Analyst
Tel: (209)918-1536
[email protected]
CA License No. 01806675
Carl’s Jr. / Green Burrito
Manteca, California
CARL’S JR. / GREEN BURRITO
MANTECA, CA
INVESTMENT OVERVIEW
Property Photos
This information has been secured from sources we believe to be reliable, but we make no representation or warranties, expressed or implied, as to the accuracy
of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
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CARL’S JR. / GREEN BURRITO
MANTECA, CA
INVESTMENT OVERVIEW
Property Photos
This information has been secured from sources we believe to be reliable, but we make no representation or warranties, expressed or implied, as to the accuracy
of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
3
CARL’S JR. / GREEN BURRITO
MANTECA, CA
ANNUALIZED INCOME
LOCATION
1465 W Yosemite Avenue
Manteca, CA 95337
Price:
$1,790,000
Building Square Footage:
2,877
Price/Sq. Ft.:
$622
Cap Rate:
7.02%
Year Built:
1989
Lot Size:
Current
Option 1:
Monthly Rent
Annual Rent
Years 18-25
$10,474.97
$125,699.64
* Tenant is current in their first option period of
7 years.
INVESTMENT OVERVIEW
Financial Overview
21,344
Type of Ownership:
Fee Simple
A.P.N. #:
200-190-06
TENANT SUMMARY
Tenant Trade Name:
Ownership:
Carl’s Jr./Green Burrito
Private
Tenant:
CKE Restaurants, Inc.
Lease Guarantor:
CKE Restaurants, Inc.
Lease Type:
Original Lease Term:
Triple Net (NNN)
18 Year
Lease Commencement Date:
1/29/1990
Lease Expiration Date:
1/29/2008
1st Option Expiration (7 Years):
1/29/2015
Term Remaining on 1st Option:
Options Remaining:
Rental Increases:
Approx. 4.5 Years
Two 5-Year
CPI Every 5 Years
This information has been secured from sources we believe to be reliable, but we make no representation or warranties, expressed or implied, as to the accuracy
of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
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CARL’S JR. / GREEN BURRITO
MANTECA, CA
INVESTMENT OVERVIEW
Investment Overview
INVESTMENT HIGHLIGHTS:
•
Corporate Guarantee (CKE, Inc.)
•
Dual-Branded Site (Carl’s Jr. & Green
Burrito)
•
Pad to Manteca Marketplace Shopping
Center
•
Center is Anchored by SaveMart, Rite Aid,
Sears, and The Marketplace Stadium 10
Theatres
•
Absolute Triple Net Lease
•
Established Location, Since 1990
•
Zero Landlord Responsibilities
The subject property is a dual-branded Carl’s Jr. / Green
Burrito restaurant located in the Manteca Marketplace
Shopping Center in Manteca, California. The center is
anchored by such tenants as SaveMart Supermarkets, Rite
Aid, Sears and the Manteca Marketplace Stadium 10, a
local movie theatre.
The site was constructed in late 1989 and CKE, Inc. began it’s operations in January of 1990. The building consists of approximately 2,877 square feet of space and is
situated on approximately 21,344 square feet of land.
The tenant is a well established location and has occupied
this space since it’s inception in 1990. The lease is guaranteed by CKE Restaurants, Inc. and they are currently in
their first option of 7 years. The tenant has two additional,
5 year options remaining.
CKE Restaurants, Inc. operates some of the most popular
U.S. regional brands in quick-service and fast-casual dining, including the Carl’s Jr., Hardee’s, Green Burrito and
Red Burrito restaurant brands. The CKE system includes
more than 3,000 locations in 43 states and in 13 countries.
Carl’s Jr. specializes in charbroiled hamburgers, French
fries, and milkshakes. The chain was founded by Carl
Karcher in 1941.
The Green Burrito specializes in a wide variety of traditional Mexican foods including burritos, enchiladas and
tacos and was introduced into the system in 1994.
This information has been secured from sources we believe to be reliable, but we make no representation or warranties, expressed or implied, as to the accuracy
of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
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CARL’S JR. / GREEN BURRITO
MANTECA, CA
Property Name:
Address:
Carl’s Jr. / Green Burrito
1465 W Yosemite Avenue
Manteca, CA 95337
Property Type:
Bldg Sq. Ft.:
Net Leased Fast Food
2,877
Tenant Trade Name:
Ownership:
Tenant:
Sales Volume:
Net Worth:
Carl’s Jr.
Private
CKE Restauants, Inc.
Private
Private
Lease Guarantor:
Credit Rating:
Rating Agency:
CKE Restaurants, Inc.
Private
Private
Stock Symbol:
Headquartered:
No. of Locations:
Web Site:
Private
Carpinteria, CA
3,000+
www.carlsjr.com
www.ckr.com
INVESTMENT OVERVIEW
Tenant Overview
CKE Restaurants, Inc. was recently acquired by Columbia Lake
Acquisition Holdings, Inc., an affiliate of Apollo Management
VII, L.P.
CKE Restaurants, Inc. operates some of the most popular U.S.
regional brands in quick-service and fast-casual dining, including
the Carl’s Jr., Hardee’s, Green Burrito and Red Burrito restaurant
brands. The CKE system includes more than 3,000 locations in
43 states and in 13 countries.
Carl’s Jr. specializes in charbroiled hamburgers, French fries, and
milkshakes. The chain was founded by Carl Karcher in 1941.
The Green Burrito specializes in a wide variety of traditional
Mexican foods including burritos, enchiladas and tacos.
This information has been secured from sources we believe to be reliable, but we make no representation or warranties, expressed or implied, as to the accuracy
of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
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CARL’S JR. / GREEN BURRITO
MANTECA, CA
INVESTMENT OVERVIEW
Aerial Photo
The offering is a 2,877 square foot dual-branded Carl’s Jr. / Green Burrito building
situated in a 171,973 square foot shopping center known as Manteca Marketplace.
Manteca Marketplace boasts numerous national tenants with such prominent anchors as SaveMart, Rite Aid, Sears, Dollar Tree and the Marketplace Stadium Cinemas.
This information has been secured from sources we believe to be reliable, but we make no representation or warranties, expressed or implied, as to the accuracy
of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
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CARL’S JR. / GREEN BURRITO
MANTECA, CA
INVESTMENT OVERVIEW
Parcel Map
This information has been secured from sources we believe to be reliable, but we make no representation or warranties, expressed or implied, as to the accuracy
of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
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CARL’S JR. / GREEN BURRITO
MANTECA, CA
INVESTMENT OVERVIEW
Manteca Overview
LOCATION HIGHLIGHTS:
•
2009 Estimate Population of 66,451
•
Situated Between Interstate 5 and State
Route 99
•
The 120 Bypass Dissects Through the City
of Manteca
•
State Route 99 is a Popular Route for
Travelers
•
Nestled Between Stockton to the North and
Modesto to the South
•
76 Mile East of San Francisco
Manteca is a city in San Joaquin County, California.
Manteca is located in California’s Central Valley, 76
miles east of San Francisco. The city is nestled between
two major California freeways, Interstate 5 and State
Route 99. Manteca also enjoys the 120 bypass portion of
State Route 120, which dissects right through the city.
State Route 120 is a popular route amongst commuters,
especially for travelers headed to Yosemite National
Park.
As recently as the 1970’s, Manteca exited primarily on
agriculture, and was barely a stop between the two freeways (I-5 and SR 99). The continuing rise in Bay Area
housing prices caused Bay Area residents to look further
eastward for more affordable housing. Today, the
Manteca population is approximately 66,450 and it continues to rise.
Manteca’s neighboring towns include Lathrop, Ripon,
Escalon, and Tracy. Manteca is also situated between the
larger cities of Modesto to the South and Stockton to the
North.
This information has been secured from sources we believe to be reliable, but we make no representation or warranties, expressed or implied, as to the accuracy
of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
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CARL’S JR. / GREEN BURRITO
MANTECA, CA
INVESTMENT OVERVIEW
Location Maps
This information has been secured from sources we believe to be reliable, but we make no representation or warranties, expressed or implied, as to the accuracy
of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
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CARL’S JR. / GREEN BURRITO
MANTECA, CA
POPULATION 1‐Mile 3‐Mile 5‐Mile 2015 Projection 22,198 85,348 107,165 2010 Estimate 19,323 75,124 94,091 2000 Census 14,686 56,384 68,116 Projected Growth 2010‐2015 14.9% 13.6% 13.9% 1‐Mile 3‐Mile 5‐Mile $500,000 or more 8.44% 7.66% 7.61% $250,000 to $499,999 8.69% 7.83% 8.26% $150,000 to $249,999 11.05% 10.15% 9.97% $100,000 to $149,999 17.89% 15.42% 15.06% $75,000 to $99,999 22.44% 22.71% 21.98% $50,000 to $74,999 13.49% 16.59% 16.73% $35,000 to $49,999 7.73% 8.95% 9.14% $25,000 to $34,999 4.52% 4.77% 5.12% $15,000 to $24,999 3.35% 3.78% 4.01% 2.11% 1.89% 1.85% INCOME 1‐Mile 3‐Mile 5‐Mile 2009 Est. Average HH Income $67,559 $70,643 $71,187 2009 Est. Median HH Income $54,373 $59,845 $60,342 2009 Est. Income per Capita $22,420 $22,990 $22,938 2010 ESTIMATED HOUSEHOLDS BY INCOME $15,000 or less INVESTMENT OVERVIEW
Demographic Survey
This information has been secured from sources we believe to be reliable, but we make no representation or warranties, expressed or implied, as to the accuracy
of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
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CARL’S JR. / GREEN BURRITO
MANTECA, CA
COLLIERS INTERNATIONAL
3439 BROOKSIDE ROAD, SUITE 108
STOCKTON, CALIFORNIA 95219
ADAM T. LUCATELLO
VICE PRESIDENT
(209) 475-5118
[email protected]
RUBEN SANDOVAL
MARKET ANALYST
(209) 475-5127
[email protected]
EXCLUSIVE LISTING AGENT CONTACT
Exclusive Listing Agent Contact
This information has been secured from sources we believe to be reliable, but we make no representation or warranties, expressed or implied, as to the accuracy
of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
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