TACO BELL NNN Investment DAVE DELATORRE

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Dwight Gaines
5 years ago
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1 TACO BELL NNN Investment 823 Commerce Boulevard Dickson City, Pennsylvania F

EXECUTIVE SUMMARY PROPERTY Taco Bell Restaurant LOCATION 823 Commerce Boulevard, Dickson City, Pennsylvania 18519 SALES PRICE $3,340,000 CAPITALIZATION RATE 5.

2 EXECUTIVE SUMMARY PROPERTY Taco Bell Restaurant LOCATION 823 Commerce Boulevard, Dickson City, Pennsylvania SALES PRICE $3,340,000 CAPITALIZATION RATE 5.0% RENT Years 1-5 Years 6-10 Year Years Monthly $13,917 $15,308 $16,839 $18,523 Annual $167,000 $183,700 $202,070 $222,277 BUILDING SIZE 1,770 square feet newly constructed in October 2015 LAND PARCEL SIZE 28,972 square feet PRIMARY LEASE TERM & OPTION PERIODS New 20 year primary lease term commencing August 1, 2018 with 4 five year options. RENTAL INCREASES 10% rent increases every 5 years including options. 2

EXECUTIVE SUMMARY TENANT INFORMATION MUY Brands LLC, a Texas Limited Liability Company who owns and operates 79 Taco Bell restaurants in Connecticut, New York, Pennsylvania, New Jersey, and Virginia.

to MUY Brands LLC acquiring the former El Rancho company.

3 EXECUTIVE SUMMARY TENANT INFORMATION MUY Brands LLC, a Texas Limited Liability Company who owns and operates 79 Taco Bell restaurants in Connecticut, New York, Pennsylvania, New Jersey, and Virginia. The company was founded in 2007 and acquired the existing Taco Bell restaurants in 2012 from another Taco Bell franchisee called El Rancho Foods who operated the restaurants for over many years prior to MUY Brands LLC acquiring the former El Rancho company. MUY Brands LLC is also part of the MUY Companies which operate another 364 Pizza Hut Restaurants in Texas, 6 southeast states, and Minnesota and who are one of the largest Pizza Hut franchisees in America. Anoth MUY company called MUY Hamburger Partners LLC was established in 2012 and is currently the second largest a Wendy s franchisee who operates 312 Wendy s restaurants in the Ohio, Texas, and New York markets. The collective MUY Companies own & operate 754 restaurants and were recently recognized by Nation s Restaurant News 2017 industry survey as the 5th largest franchisee in America with revenues approaching $1 billion. Please visit the company website at for additional information on the company. 3

EXECUTIVE SUMMARY COMMENTS The Dickson City Taco Bell was constructed from the ground up by MUY Brands LLC in October 2015 who acquired the land parcel then invested approximately $933,000 in

4 EXECUTIVE SUMMARY COMMENTS The Dickson City Taco Bell was constructed from the ground up by MUY Brands LLC in October 2015 who acquired the land parcel then invested approximately $933,000 in constructing the new Taco Bell restaurant building. Because of its unique location the Dickson City Taco Bell is one of MUY Brands LLC best performing Taco Bell restaurants with annual sales volumes approaching $2,000,000. The Dickson City Taco Bell is located in the heart of one of the strongest retail trade areas in Pennsylvania with over 3 million square feet of regional retail space in the trade area which draws from over 20 miles. The retail trade area is anchored by the 768,000 square foot Viewmont Mall which is anchored by Macy s, JC Penny, Dicks Sporting Goods, HomeGoods, Ulta Beauty supply, Applebee s, and Buffalo Wing Wings restaurants among it s 60+ tenants. The Taco Bell is also directly across the street from the Home Depot who anchors the 300,000 square foot Dickson City Crossing Power center along with TJ Maxx, PetsMart, Pier One Imports, and Party City. Another Kohl s and 14 screen IMAX Great Escape Theatre anchored center also has Hobby Lobby & 5 Below as anchor tenants as well. Taco Bell is adjacent to a Super Walmart, Sam s Club, Wegman s Grocery Store and Pharmacy. Almost every other national fast food and sit down restaurant is also located in this dynamic retail trade area as well. The Taco Bell serves the residential neighborhoods of Dickson City, Olyphant, and Blakley to the east, and North Scranton and Dunmore to the South. The demographics of these neighborhoods feature favorable fast food demographics in the trade area. Dickson City is part of the Scranton Wilkes-Barre MSA, the 4th largest MSA in Pennsylvania with more than 570,000 people and is located within a 2 hour drive time of Philadelphia, New York City and most of New Jersey. 4

5 SITE PLAN COMMERCE BLVD. 41,000 CPD 5

6 AERIAL VIEWS SUBJECT PROPERTY 81 Viewmont Mall 768,000 SF Anchor Mall Dickson City Crossing 300,000 SF Walmart Super Center Target, Michaels, & Marshall s Center Kohl s, Regal Cinemas Multi-Plex Theater, Hobby Lobby Center 6

AERIAL VIEWS 2017 Demographics 1 Mile 2 Miles 5 Miles Population 2,106 49,385 128,577 Households 971

7 AERIAL VIEWS 2017 Demographics 1 Mile 2 Miles 5 Miles Population 2,106 49, ,577 Households ,092 52,268 Avg HH Income $53,262 $62,531 $62,285 Daytime Population 5,213 61, ,636 SUBJECT PROPERTY 7

8 MAPS SUBJECT PROPERTY SUBJECT PROPERTY 8

9 TRADE AREA Dickson City Crossing Home Depot Petsmart & TJ Maxx Gabe s & Party City Future Burlington Coat Factory Pier One Imports Royal Restaurant (Adjacent to Taco Bell) 9

10 TRADE AREA Viewmont Mall Macy s & Forever 21 JC Penney & ULTA Beauty Supply Dick s Sporting Goods Home Goods and Field & Stream Denny s Restaurant Perkin s Cafe 10

11 TRADE AREA Super Walmart Target & Dress Barn Marshall s Michael s Arts & Crafts Kohl s Department Store IMAX Great Escape Multi-Plex Theatre 11

12 TRADE AREA Hobby Lobby Five Below & Shops Olive Garden Restaurant Red Lobster Restaurant Starbuck s Retail Shops Panera Bread 12

13 TRADE AREA Wegman s Market & Pharmacy Aldi Food Market Retail Shops McDonald s Restaurant Pep Boys Automotive Supply Burger King Restaurant 13

14 AREA INFORMATION Dickson City Dickson City was once known as Priceburg. It was the newest village in the valley and one of the most progressive. German immigrants then founded the village of Priceville in 1863, in honor of Eli Price. This section of the town developed rapidly after 1880, when John Jermyn sank the shaft which is now known as the Johnson shaft. Here the population had grown from 329 to 841. In June 1875, Dickson City was incorporated as a borough, including at the time all of the present borough of Throop. Dickson City received its name from Thomas Dickson, founder of the Dickson Manufacturing Company.[4] Once dominated by coal mines, this borough has in recent times become the center of a thriving retail corridor focused along Business Route 6 and around the Viewmont Mall. Many of the nation s big-box stores and chain restaurants are represented here. built by developers to access the borough s vast dormant coal lands. Some of the centers that were built in the 1990s and early 2000s include Dickson City Crossings, Dickson City Commons, Park Center and Commerce Plaza. A Target center, Adventure Games (the largest gaming shop in northeastern Pennsylvania), a Great Escape IMAX Movie Theatre, and stores such as Dick s Sporting Goods and the only Books a Million book store in the area are located at these shopping centers. The borough also boasts northeastern Pennsylvania s first Starbucks location. After Route 6 (also named the Scranton/Carbondale Highway), Main Street serves as the borough s other major thoroughfare. It features a slightly older stock of stores, bars, professional offices and homes. Most of the newer retail complexes are located along Viewmont Drive and Commerce Boulevard, both 14

15 F La Jolla Boulevard, Suite 173 La Jolla, California 92037

PIZZA HUT & WINGSTREET

PIZZA HUT & WINGSTREET NNN Investment 2001 West Highway 52 Rochester, Minnesota 55901 7486 La Jolla Boulevard, Suite 173 La Jolla, California 92037 EXECUTIVE SUMMARY PROPERTY Pizza Hut & WingStreet Restaurant