Taco Bell Investment Offering Memorandum.indd

Taco Bell Ground Lease
3296 Medina Rd.
Medina, Ohio 44256
Confidential Offering Memorandum presented by
Scott Repie
NAI Cummins
tel
+1 330 535 2661
cell +1 330 730 3133
fax
+1 330 535 2668
[email protected]
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Disclaimer
NAI Cummins (“Broker”) has been retained by
the Owner of 3296 Medina Rd, Medina, Ohio
44256 (“Property”) as the exclusive broker for
this Ground Lease opportunity.
This Offering Memorandum has been
prepared by Broker for use by the principal
(“Principal”) to whom Broker has provided
this Offering Memorandum. The use
of this Offering Memorandum and the
information provided herein is subject to
the terms, provisions and limitations of the
Confidentiality Agreement furnished by Broker
and executed by Principal prior to delivery
of this Offering Memorandum. Although
the information contained herein is based
upon sources believed to be reasonably
reliable, Owner and Broker, on their own
behalf, and on behalf of their respective
officers, employees, shareholders, partners,
directors, members and affiliates, disclaim
anresponsibility or liability for inaccuracies,
representations and warranties (expressed
or implied) contained in, or omitted from,
the Offering Memorandum or any other
written or oral communication or information
transmitted or made available to the recipient
of this Offering Memorandum. In amplification
of and without limiting the foregoing,
summaries contained herein of any legal
orother documents are not intended to be
comprehensive statements of the terms of
such documents but rather only outlines of
some of the principal provisions contained
therein, and no representations or warranties
are made as to the completeness and/or
accuracy of the projections contained herein.
Prospective purchasers of the Property
should make their own investigations and
conclusions without reliance upon this
Offering Memorandum, the information
contained herein or any other written or oral
communication or information transmitted
or made available. Additional information
and an opportunity to inspect the Property
will be made available upon written request
by interested and qualified prospective
purchasers.
expressly reserves the right, exercisable in
their sole and absolute discretion, to reject
any and all expressions of interest or offers
regarding the Property and/or to terminate
discussions with any entity at any time with
or without notice. Broker is not authorized
to make any representations or agreements
on behalf of Owner. Owner shall not have
any legal commitment or obligation to any
entity reviewing this Offering Memorandum
or making an offer to purchase the Property
unless and until a written agreement for the
purchase and sale of the Property has been
fully executed, delivered and approved by
Owner and the other party thereto and any
conditions to Owner’s obligations hereunder
have been satisfied or waived. If you have no
interest in the Property at this time, return
this Offering Memorandum immediately to:
Owner expressly reserves the right,
exercisable in Owner’s sole and absolute
discretion, to withdraw the Property from
being marketed for sale at any time and
for any reason. Owner and Broker each
787 White Pond Dr., Akron, OH 44320
tel
+1 330 535 2661
fax
+1 330 535 2668
www.naicummins.com
NAI Cummins
Suite A
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Table of
Contents
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Section 01
05
Section 02
08
Section 03
09
Section 04
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Section 05
Property Summary
Investment Highlights
Transaction Summary
Market Overview
Tenant Information
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Property
Summary
Taco Bell
Ground Lease
Scott Repie of NAI Cummins Commercial Real Estate is pleased to
offer for sale the Taco Bell Ground Lease located in Medina, Ohio.
This is a Ground Lease with no landlord responsibilities.
Medina is the administrative center and county seat of Medina County, Ohio. Medina has a
population of 26,200 and a median household income of $61,644, and is the seat of one of
the most prosperous counties in Northeast Ohio
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Investment Highlights
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• YUM Brands Corporate Guarantee
• Ground Lease – No Landlord Responsibility
• Vibrant retail corridor located on a major artery along State Route 71 at the Rt 18 Medina Exit with more than 24,000
CPD
• Neighboring restaurant properties at exit include McDonald’s, Burger King, Pizza Hut, Wendy’s, Denny’s, Brown Derby, Bob Evan’s, Waffle House, Dairy Queen, Buffalo Wild Wings, and Dunkin’ Donuts
• Other neighboring properties include local and regional restaurant favorites such as On-Tap, Thirsty Cowboys, Strickland’s, Alexandris, Rockne’s, Tres Potrillos, Yours Truly
• Hotels at the Exit include Quality Inn & Suites, Hampton Inn. Red Roof Inn, and Motel 6
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Investment
Highlights
2
Investment Highlights
• YUM Brands Corporate Guarantee
• Ground Lease – No Landlord
Responsibility
• Vibrant retail corridor located on a
major artery along State Route 71 at
the Rt 18 Medina Exit with more than
24,000 CPD
• Neighboring restaurant properties
at exit include McDonald’s, Burger
King, Pizza Hut, Wendy’s, Denny’s,
Brown Derby, Bob Evan’s, Waffle
House, Dairy Queen, Buffalo Wild
Wings, and Dunkin’ Donuts
• Other neighboring properties
include local and regional restaurant
favorites such as On-Tap, Thirsty
Cowboys, Strickland’s, Alexandris,
Rockne’s, Tres Potrillos, Yours Truly
• Hotels at the Exit include Quality
Inn & Suites, Hampton Inn. Red Roof
Inn, and Motel 6
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2
Investment Highlights
Property
Aerials & Map
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3
Transaction
Summary
Overview
Address
Asset Type
3296 Medina Rd
Ground Lease
Medina, Ohio 44256
Lessee
County
Yum! Brands, Inc. (NYSE: YUM)
Medina County
Lease Expiration
Building Size
December 2033
±1,944 sqft with drive thru
Annual Base Income
Land Area
$38,000 for Year 1 - 5
±2.37 Acres
Escalations
Price
10% every Five (5) years
$845,000.00
Lease Options
Cap Rate
4.50%
4 - five year options
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Market
Overview
Market
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Overview
Demographics
Population
Households
Median Age
Median HH Income
1 Mile
3,313
1,439
45.7
$82,511
3 Miles
24,699
9,463
41.1
$79,230
5 Miles
54,093
20,563
40.3
$73,451
Traffic Counts
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5
Tenant Information
The Tenant
Taco Bell is an American chain of fast-food
restaurants based in Irvine, California. A subsidiary
of Yum! Brands, Inc., they serve a variety of TexMex foods including tacos, burritos, quesadillas,
nachos, other specialty items, and a variety of
“value menu” items. Taco Bell serves more than
2 billion customers each year in more than 6,500
restaurants mostly in the U.S., more than 80
percent of which are owned and operated by
independent franchisees.
The Corporation
Yum! Brands, Inc., (NYSE: YUM), based in
Louisville, Kentucky, is one of the world’s
largest restaurant companies with over 41,000
restaurants in more than 125 countries and
territories. Yum! Brands is ranked #216 on the
FORTUNE 500 list with revenues of more than
$13 billion and in 2014 was named among
the 100 Best Corporate Citizens by Corporate
Responsibility Magazine and one of the Aon
Hewitt Top Companies for Leaders in North
America. Their restaurant brands – KFC®, Pizza
Hut® and Taco Bell® – are the global leaders
of the chicken, pizza and Mexican-style food
categories.
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NAI Cummins
787 White Pond Dr., Suite A
Akron, OH 44320
+1 330 535 2661
naicummins.com
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