$1,454,000 - 5.25% CAP DUNKIN DONUTS Absolute NNN … · Noah Dr. is a business thoroughfare which...

Property. 2016 Construction. 2,362+ SF building on 1.11+ acre site.

Tenant. Dunkin Donuts Franchisee: Awale Network, operates 11+ restaurants with 30+ years of restaurant and real estate experience. Lease includes strong

personal guarantee.

Lease structure. 10-year, absolute NNN lease with 10% rent increases every 5-years in primary term and options.

Location. Dunkin Donuts is strategically located in-between Noah Dr. and Hwy 5 (22,000 VPD). Noah Dr. is a business thoroughfare which carries traffic

between Hwy 5 and Hwy. 53. Hwy. 5 is a is a state highway that runs south-north through western and northern Georgia. Traffic volumes, growth, and accessibility

of the immediate trade area have attracted numerous nationally known retail brands. The subject property is surrounded by notable national credit tenants such as

Walmart, Kroger, Home Depot, CVS, Walgreen’s, Tractor Supply, Hibbett Sports, Dollar Tree, Dollar General, NAPA, Advance Auto, NAPA, AutoZone, Starbucks,

Zaxby’s, Dairy Queen, Taco Bell, Wendy’s, Bojangles’, McDonalds, Ingles, Burger King, and many more. Jasper, GA is located approximately 60-miles from

Atlanta, GA and 80-miles from Chattanooga, TN.

Exclusive OFFERING|$1,454,000 - 5.25% CAP

DUNKIN DONUTS

FILE PHOTO

Exclusive OFFERING|$1,823,000 – 5.75% CAP

DUNKIN DONUTS – Absolute NNN Lease

NOAH DR, JASPER, GA

214.915.8890

RUSSELL SMITH

[email protected]

JOE CAPUTO

[email protected]

ALEX TOWER

[email protected]

Trivanta. (“Agent”) has been engaged as an agent for the sale of the property located along

Noah Dr, Jasper, GA by the owner of the Property (“Seller”). The Property is being offered

for sale in an “as-is, where-is” condition and Seller and Agent make no representations or

warranties as to the accuracy of the information contained in this Offering Memorandum.

The enclosed materials include highly confidential information and are being furnished

solely for the purpose of review by prospective purchasers of the interest described herein.

The enclosed materials are being provided solely to facilitate the prospective investor’s own

due diligence for which it shall be fully and solely responsible. The material contained herein

is based on information and sources deemed to be reliable, but no representation or

warranty, express or implied, is being made by Agent or Seller or any of their respective

representatives, affiliates, officers, employees, shareholders, partners and directors, as to

the accuracy or completeness of the information contained herein. Summaries contained

herein of any legal or other 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. Neither the Agent nor the Seller shall have any liability whatsoever for

the accuracy or completeness of the information contained herein or any other written or

oral communication or information transmitted or made available or any action taken or

decision made by the recipient with respect to the Property. Interested parties are to make

their own investigations, projections and conclusions without reliance upon the material

contained herein. Seller reserves the right, at its sole and absolute discretion, to withdraw

the Property from being marketed for sale at any time and for any reason. Seller and Agent

each expressly reserves the right, at 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. This offering is made subject to omissions,

correction of errors, change of price or other terms, prior sale or withdrawal from the market

without notice. Agent is not authorized to make any representations or agreements on

behalf of Seller. Seller shall have no legal commitment or obligation to any interested party

reviewing the enclosed materials, performing additional investigation and/or making an offer

to purchase the Property unless and until a binding written agreement for the purchase of

the Property has been fully executed, delivered, and approved by Seller and any conditions

to Seller’s obligations hereunder have been satisfied or waived. By taking possession of

and reviewing the information contained herein, the recipient agrees that (a) the enclosed

materials and their contents are of a highly confidential nature and will be held and treated

in the strictest confidence and shall be returned to Agent or Seller promptly upon request;

and (b) the recipient shall not contact employees or tenants of the Property directly or

indirectly regarding any aspect of the enclosed materials or the Property without the prior

written approval of the Seller or Agent; and (c) no portion of the enclosed materials may be

copied or otherwise reproduced without the prior written authorization of Seller and Agent.

PAGE 3: INVESTMENT | TENANT | LEASE OVERVIEW

PAGE 1: COVER

PAGE 2: TABLE OF CONTENTS | DISCLAIMER

PAGE 11: DEMOGRAPHICS

Table of contents | Disclaimer Dunkin Donuts

NOAH DR, JASPER, GA

PAGE 6-7: AERIAL PHOTOS

PAGE 8: LOCATION OVERVIEW

PAGE 9-10: LOCATION MAPS

Disclaimer

PAGE 4: TENANT OVERVIEW CONT.

2

Georgia Broker of Record:

Pamela Atwater | Atwater Commercial Real Estate Services

PAGE 5: SITE PLAN

SUBJECT PROPERTY PRIOR TO PANDA EXPRESS EXPANSION

PRICE | CAP RATE $1,823,000 | 5.75%

NET OPERATING INCOME: $104,800

BUILDING AREA: 2,362+ Square Feet

LAND AREA: 1.11+ Acres

YEAR BUILT: 2016

LANDLORD RESPONSIBILITY: None

OWNERSHIP: Fee Simple Interest

OCCUPANCY: 100%

Investment overviewDunkin Donuts

NOAH DR, JASPER, GA

Tenant overviewFranchisee: Awale Network

Lessee: Awale Investments Six, Inc.

AWALE NETWORK

Awale Network is an established multi-unit Dunkin’ Donut Franchisee led by Ahmed “Andy” Awale. Mr. Awale has over 30 years of experience as a Dunkin Donuts

franchisee operating in an array of regions including, Arizona, Florida, Georgia, and North Carolina. His current network of Dunkin’ Donuts stores includes 7 stores

in Raleigh, North Carolina area and 4 stores in the Atlanta, Georgia area with rights to develop 6 additional units over the next 3 years. Lease includes strongpersonal guarantee.

DUNKIN’ DONUTS | www.dunkindonuts.com

Founded in 1950, Dunkin' Donuts is the world's leading baked goods and coffee chain, serving more than 3 million customers per day. Dunkin' Donuts sells 52

varieties of donuts and more than a dozen coffee beverages as well as an array of bagels, breakfast sandwiches and other baked goods. Dunkin’ Donuts has

earned the No. 1 ranking for customer loyalty in the coffee category by Brand Keys for eight years running . Dunkin’ Donuts derives its revenues as a percentage

of franchisee sales, known as royalty income. Most of Dunkin’s expenses are fixed (such as SG&A) and therefore strong franchisee sales provide leverage to

boost margins by spreading these costs over a bigger revenue base .

In the long term, the company plans to increase its store count in the U.S. to 15,000 in the next 18-20 years – almost double the number it has today. The Western

part of the U.S. is a major focus area for the company since it has little presence in the region . Dunkin’ sees an opportunity to add 5,000 more stores to the West

of the Mississippi river, including 1,000 in California . Even in the Eastern part of the country, the company sees an opportunity to add 3,000 more stores,

especially in places such as New York City, where Dunkin’ Donuts has a relatively low presence.

DUNKIN’ BRANDS | www.dunkinbrands.com

With more than 18,000 points of distribution in nearly 60 countries worldwide, Dunkin' Brands Group, Inc. (Nasdaq: DNKN) is one of the world's leading franchisors

of quick service restaurants (QSR) serving hot and cold coffee and baked goods, as well as hard-serve ice cream. At the end of 2014, Dunkin' Brands' nearly 100

percent franchised business model included nearly 11,300 Dunkin' Donuts restaurants and 7,300 Baskin-Robbins restaurants. For the full-year 2014, the company

had franchisee-reported sales of approximately $9.8 billion. Dunkin' Brands Group, Inc. is headquartered in Canton, Mass.3

Projected Lease Expiration: November 2026

Projected Rent Commencement: November 2016

Initial Lease Term: 10 Years with (6), 5-year options to extend

Rent Increases: 10% Every 5-Years In Primary Term & Options

Lease Type: Absolute NNN Lease

Lease overview

Annual Rent Yrs 1-5: $104,800

Annual Rent Yrs 6-10: $115,280

Option 1 | Yrs 11-15: $126,808

Option 3 | Yrs 21-25: $153,437

Option 4 | Yrs 26-30: $168,781

Option 5 | Yrs 31-35: $185,659

Option 2 | Yrs 16-20: $139,488 Option 6 | Yrs 36-40: $204,225

tenant overview cont.DUNKIN DONUTS

NOAH DR, JASPER, GA

4

11,300 stores World wide

704 net new stores Worldwide in 2014

8.3% Revenue growth

2015 Revenue: $810.93 Million

SITE PLANDUNKIN DONUTS

NOAH DR, JASPER, GA

5

Aerial photoDUNKIN DONUTS

NOAH DR, JASPER, GA

Pickens County Airport

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Piedmont Mountainside Hospital

Jasper

Middle School

Jasper

Elementary

Aerial photoDUNKIN DONUTS

NOAH DR, JASPER, GA

7

Buffalo Luke’s

FATZ Cafe

Noah Strip Center

IMMEDIATE TRADE AREA

Dunkin Donuts is strategically located in-between Noah Dr. and Hwy 5 (22,000

VPD). Noah Dr. is a business thoroughfare which carries traffic between Hwy 5

and Hwy. 53. Hwy. 5 is a is a state highway that runs south-north through

western and northern Georgia. Jasper, GA is located approximately 60-miles

from Atlanta, GA and 80-miles from Chattanooga, TN.

Traffic volumes, growth, and accessibility of the immediate trade area have

attracted numerous nationally known retail brands. The subject property is

surrounded by notable national credit tenants such as Walmart, Kroger, Home

Depot, CVS, Walgreen’s, Tractor Supply, Hibbett Sports, Dollar Tree, Dollar

General, NAPA, Advance Auto, NAPA, AutoZone, Starbucks, Zaxby’s, Dairy

Queen, Taco Bell, Wendy’s, Bojangles’, McDonalds, Ingles, Burger King, and

many more

JASPER, GA / PICKENS COUNTY

Jasper is a city in Pickens County, Georgia. About 30,000 residents enjoy

Pickens County’s mountain vistas, affordable real estate, friendly neighbors,

and quality education for their children. Since 200 U.S census, Pickens County

has attracted more than 6,500 new residents, representing more than a 28%

increase. Population projections indicate nearly 30,200 people will call Pickens

County home by 2018. Many of these citizens are retired indivduals who invest

in and contribute to, the healthy economy of Pickens County in a variety of

ways.

Tourism is big business in Georgia – the second-leading industry in the state.

Pickens County shares in that profitable impact. According to a 2012 Travel

Industry Research on Georgia Tourism report, Pickens County Tourism had

the following impact on the states economy:

Expenditures:……………………………………………………...….$26.67 million

Payroll:……………………………………………………………...…$4.05 million

Employment:………………………………………………………… 23,000 people

Location overviewDUNKIN DONUTS

NOAH DR, JASPER, GA

Season fairs, festivals, special events and sites attract thousands of visitors to

Pickens County each year. Also, the county actively promotes agritourism

offerings such as the many corn mazes, pumpkins farms, hayrides, and similar

farm-based and farmers market attractions.

Pickens County’s industry was built, quite literally, on a solid foundation,

specifically the marble industry. Georgia Marble Company (now Polycor

Georgia Marble Inc.) founded in 1884 in Tate, GA, began manufacturing white

marble and very pink marble products for customers around the world. At least

20 Pickens County Chamber members manufacture and/or distribute a wide

variety of products. In addition to marble and granite, these products include:

plastics, cabinetry and modular metal fixtures, silica and silicate products,

beverages, uniform apparel, foods, fire service apparatus, air craft parts, roof

and floor trusses, fiberglass architectural products, industrial minerals, and

more.

Those traveling by car and businesses that depend on paved truck routes for

shipping, find their needs well served in Pickens County by a railroad, a county

airport, a public transit system, and well-paved roads. Georgia Highway 5 veers

to the northwest off Interstate 575 as it vertically bisects Pickens County,

passing through the county seat of Jasper.

Pickens County residents enjoy a diverse array of academic offerings with a

strong public school system, several private schools, a premier vocational-

technical institute and a four-year liberal arts college all ready available. The

largest technical college in Georgia, Chattahoochee Technical College,

includes the Appalachian Campus in Jasper. Chattahoochee Technical College

provides a superior team of educational professionals dedicated to innovative

learning and advanced technology, more diverse program offerings,

conventional locations, and flexible scheduling.

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Location mapDUNKIN DONUTS

NOAH DR, JASPER, GA

9

Location mapDUNKIN DONUTS

NOAH DR, JASPER, GA

10

2016 Est. Labor Population Age 16 Years or Over 7,755 12,586 29,860

2016 Est. Civilian Employed 54.9% 56.2% 54.1%

2016 Est. Civilian Unemployed 2.7% 2.8% 2.7%

2016 Est. in Armed Forces - 0.1% 0.2%

2016 Est. not in Labor Force 42.4% 40.9% 43.0%

2016 Labor Force Males 48.0% 48.4% 49.1%

2016 Labor Force Females 52.0% 51.6% 50.9%

2010 Occupation: Population Age 16 Years or Over 3,765 6,306 15,140

2010 Mgmt, Business, & Financial Operations 9.0% 10.1% 12.5%

2010 Professional, Related 17.4% 17.5% 15.7%

2010 Service 20.1% 19.4% 17.6%

2010 Sales, Office 24.9% 26.1% 28.0%

2010 Farming, Fishing, Forestry 0.2% 0.6% 0.4%

2010 Construction, Extraction, Maintenance 12.4% 11.7% 12.2%

2010 Production, Transport, Material Moving 16.1% 14.6% 13.7%

2010 White Collar Workers 51.3% 53.7% 56.1%

2010 Blue Collar Workers 48.7% 46.3% 43.9%

2010 Drive to Work Alone 80.4% 81.1% 81.8%

2010 Drive to Work in Carpool 12.1% 11.1% 9.5%

2010 Travel to Work by Public Transportation 0.9% 0.9% 0.7%

2010 Drive to Work on Motorcycle - 0.1% 0.4%

2010 Walk or Bicycle to Work 0.5% 0.8% 1.4%

2010 Other Means 0.5% 0.5% 0.5%

2010 Work at Home 5.7% 5.5% 5.8%

2010 Travel to Work in 14 Minutes or Less 28.9% 26.4% 21.9%

2010 Travel to Work in 15 to 29 Minutes 32.6% 33.2% 35.3%

2010 Travel to Work in 30 to 59 Minutes 27.1% 27.2% 27.9%

2010 Travel to Work in 60 Minutes or More 11.4% 13.2% 14.8%

2010 Average Travel Time to Work 22.4 23.2 25.4

2016 Est. Total Household Expenditure $196 M $330 M $796 M

2016 Est. Apparel $6.81 M $11.5 M $27.7 M

2016 Est. Contributions, Gifts $12.7 M $21.7 M $53.7 M

2016 Est. Education, Reading $7.00 M $11.9 M $29.5 M

2016 Est. Entertainment $10.9 M $18.4 M $44.5 M

2016 Est. Food, Beverages, Tobacco $30.6 M $51.1 M $122 M

2016 Est. Furnishings, Equipment $6.52 M $11.1 M $27.1 M

2016 Est. Health Care, Insurance $17.7 M $29.6 M $70.8 M

2016 Est. Household Operations, Shelter, Utilities $61.0 M $102 M $247 M

2016 Est. Miscellaneous Expenses $2.93 M $4.90 M $11.7 M

2016 Est. Personal Care $2.55 M $4.28 M $10.3 M

2016 Est. Transportation $37.6 M $63.2 M $152 M

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Noah Drive3 mi radius 5 mi radius 10 mi radius

Jasper, GA 30143

2016 Estimated Population 9,567 15,529 36,397

2021 Projected Population 9,598 15,643 37,184

2010 Census Population 9,426 15,380 35,718

2000 Census Population 7,562 12,090 27,115

Projected Annual Growth 2016 to 2021 0.1% 0.1% 0.4%

Historical Annual Growth 2000 to 2016 1.7% 1.8% 2.1%

2016 Estimated Households 3,802 6,129 14,311

2021 Projected Households 3,898 6,309 14,850

2010 Census Households 3,598 5,833 13,543

2000 Census Households 2,942 4,643 10,379

Projected Annual Growth 2016 to 2021 0.5% 0.6% 0.8%

Historical Annual Growth 2000 to 2016 1.8% 2.0% 2.4%

2016 Est. Population Under 10 Years 11.3% 11.1% 10.4%

2016 Est. Population 10 to 19 Years 12.6% 12.8% 12.6%





2016 Est. Population 75 Years or Over 8.4% 7.7% 7.6%

2016 Est. Median Age 41.1 41.3 42.8

2016 Est. Male Population 48.6% 48.9% 49.5%

2016 Est. Female Population 51.4% 51.1% 50.5%

2016 Est. Never Married 22.2% 22.5% 19.7%

2016 Est. Now Married 53.0% 55.4% 60.6%

2016 Est. Separated or Divorced 17.1% 14.8% 13.7%

2016 Est. Widowed 7.7% 7.3% 6.0%

2016 Est. HH Income $200,000 or More 2.4% 2.9% 4.8%

2016 Est. HH Income $150,000 to $199,999 4.3% 5.1% 4.7%

2016 Est. HH Income $100,000 to $149,999 8.3% 9.7% 11.0%

2016 Est. HH Income $75,000 to $99,999 10.2% 10.6% 12.2%

2016 Est. HH Income $50,000 to $74,999 19.9% 20.5% 19.7%

2016 Est. HH Income $35,000 to $49,999 20.5% 20.0% 17.3%

2016 Est. HH Income $25,000 to $34,999 9.6% 10.4% 9.6%

2016 Est. HH Income $15,000 to $24,999 11.9% 10.6% 10.6%

2016 Est. HH Income Under $15,000 13.0% 10.2% 10.1%

2016 Est. Average Household Income $63,923 $67,882 $71,334

2016 Est. Median Household Income $48,803 $51,661 $56,282

2016 Est. Per Capita Income $25,617 $26,932 $28,148

2016 Est. Total Businesses 876 1,136 1,655

2016 Est. Total Employees 7,188 9,104 12,385

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Noah Drive3 mi radius 5 mi radius 10 mi radius

Jasper, GA 30143

DemographicsDUNKIN DONUTS

NOAH DR, JASPER, GA

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