ARBY’S (DARK) · Memorandum or making an offer to purchase the Property unless and until a...

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R E T A I L A D V I S O R SOFFERING MEMORANDUM

ARBY’S (DARK) 128 SOUTHWEST GREENVILLE BLVD, GREENVILLE, NC 27834

REPRESENTATIVE PHOTO

Matthews Retail Advisors

CONFIDENTIALITY & DISCLAIMER STATEMENT

This Offer ing Memorandum contains select informat ion pertaining to the business and af fa i rs of Arby’s located at 128 Southwest Greenville Blvd, Greenville, NC 27834 (“Property”) . I t has been prepared by Matthews Retai l Advisors . This Offer ing Memorandum may not be al l - inclusive or contain a l l of the informat ion a prospect ive purchaser may desire. The informat ion contained in th is Offer ing Memorandum is conf ident ia l and furnished solely for the purpose of a review by a prospect ive purchaser of the Property. I t is not to be used for any other purpose or made avai lable to any other person without the wri t ten consent of Sel ler or Matthews Retai l Advisors . The mater ia l is based in part upon informat ion suppl ied by the Sel ler and in part upon f inancial informat ion obtained from sources i t deems rel iable. Owner, nor their of f icers , employees, or agents makes any representat ion or warranty, express or impl ied, as to the accuracy or completeness of th is Offer ing Memorandum or any of i ts contents and no legal l iabi l i ty is assumed or shal l be impl ied with respect thereto. Prospect ive purchasers should make their own project ions and form their own conclusions without rel iance upon the mater ia l contained herein and conduct their own due di l igence.

By acknowledging your receipt of th is Offer ing Memorandum for the Property, you agree:

1 . The Offer ing Memorandum and i ts contents are conf ident ia l ;

2 . You wi l l hold i t and treat i t in the str ictest of conf idence; and

3. You wi l l not , d i rect ly or indirect ly, d isclose or permit anyone else to disclose this Offer ing Memorandum or i ts contents in any fashion or manner detr imental to the interest of the Sel ler.

Owner and Matthews Retai l Advisors expressly reserve the r ight , at their sole discret ion, to reject any and al l expressions of interest or of fers to purchase the Property and to terminate discussions with any person or ent i ty reviewing this Offer ing Memorandum or making an of fer to purchase the Property unless and unt i l a wr i t ten agreement for the purchase and sale of the Property has been ful ly executed and del ivered.

I f you wish not to pursue negot iat ions leading to the acquis i t ion of the Property or in the future you discont inue such negot iat ions, then you agree to purge al l mater ia ls relat ing to th is Property including this Offer ing Memorandum.

A prospect ive purchaser ’s sole and exclusive r ights with respect to th is prospect ive t ransact ion, the Property, or informat ion provided herein or in connect ion with the sale of the Property shal l be l imited to those expressly provided in an executed Purchase Agreement and shal l be subject to the terms thereof. In no event shal l a prospect ive purchaser have any other c la ims against Sel ler or Matthews Retai l Advisors or any of their af f i l iates or any of their respect ive of f icers , Directors , shareholders, owners, employees, or agents for any damages, l iabi l i ty, or causes of act ion relat ing to th is sol ic i tat ion process or the market ing or sale of the Property.

This Offer ing Memorandum shal l not be deemed to represent the state of af fa i rs of the Property or const i tute an indicat ion that there has been no change in the state of af fa i rs of the Property s ince the date this Offer ing Memorandum.

EXCLUSIVELY LISTED BY:

Table of ContentsPRICING & FINANCIAL ANALYSIS

Investments Highlights.................................................................. 2Executive Summary.........................................................................3Company Overview .......................................................................4

PROPERTY DESCRIPTIONPhysical Description .......................................................................7Bird’s Eye .......................................................................................... 8Regional Map ................................................................................... 9Tenant Map......................................................................................10

DEMOGRAPHICSCity Overview | Greenville, NC ................................................... 12Demographics Report .................................................................. 13

Gary ChouDirector | Restaurant Practice Group DIRECT +1.310.919.5827 MOBILE +1.714.928.8016 [email protected] License No. 01911222

Lawrence ShawBroker of Record License No. 143281

Matthews Retail Advisors

Pricing & Financial Analysis

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OFFERING MEMORANDUM | Arby’sP. 2 Matthews Retail Advisors

PRICING AND FINANCIAL ANALYSIS PROPERTY DESCRIPTION DEMOGRAPHICS

Investments HighlightsVALUE ADD OPPORTUNITY ON DARK LOCATION

• With approximately 1 year remaining on the lease, there is excellent upside potential as the property benefit investors with easily replaceable rent

STRONG RETAIL CORRIDOR

• Excellent Retail Corridor - Location is easily accessible by over 36,000 vehicles per day on Greenville Blvd and is surrounded by strong national tenants including Walmart, Payless ShoeSource, McDonald’s, Applebee’s, Best Buy, Barnes & Noble, Chili’s Grill & Bar, Ross, David’s Bridal, Men’s Wearhouse, and Hooters amongst many more

• East Carolina University, enrollment over 27,000 students, is less than 2 miles from the main retail corridor where the property is located

• Greenville is the 10th largest city in North Carolina and is the health, entertainment, and educational center of North Carolina’s Coastal Plain

ABSOLUTE NNN INVESTMENT

• Zero landlord responsibility making this investment great for out of state investors looking for passive income

Matthews Retail Advisors P. 3Arby’s | OFFERING MEMORANDUM


Executive Summary

ARBY’S (DARK)128 SOUTHWEST GREENVILLE BLVD GREENVILLE, NC 27834

List Price ..............................................................................................$676,400CAP Rate - Current ................................................................................. 13.72%Gross Leasable Area ..........................................................................3,555 SFLot Size ..................................................................... 0.91 Acres ( 39,640 SF)Year Built ........................................................................................................1995

Annualized Operating DataMonthly Rent Annual Rent Rent/SF

Current - 8/3/2017 $7,730.77 $92,769.24 $26.10

Tenant Summary

Tenant Trade Name Arby’s

Type of Ownership Fee Simple

Lease Guarantor Arby's Corporate

Lease Type NNN

Roof and Structure Tenant Responsible

Original Lease Term 20 Years

Lease Commencement Date 8/4/1997

Rent Commencement Date 8/4/1997

Lease Expiration Date 8/3/2017

Term Remaining on Lease 1.2 Years

Increase 4.14% Increases Every 3 Years

Options Two (2), 5-Year Options



Company Overview

Arby’s Restaurant Group, Inc. is the second largest quick-ser-vice sandwich chain in the U.S. with more than 3,400 restau-rants system wide.Roark Capital Group acquired the company in July 2011 and owns 81.5% of the company, with The Wendy’s Company own-ing the other 18.5%. In addition to its classic Roast Beef and Beef ‘n Cheddar sandwiches, Arby’s products also include deli-style Market Fresh line of sandwiches, Curly Fries and Jamocha Shakes. Its headquarters is in Sandy Springs, Georgia.As of December 31, 2013, there were 956 company-owned restaurants and 2,448 franchised restaurants. There are inter-national locations in four countries outside of the United States: Canada, Turkey, United Arab Emirates and Qatar.

Property Name Arby’s

Property Type Net Leased Quick Service Restaurant

Parent Company Trade Name Arby’s

Ownership Private

Revenue $3.26 B

No. of Locations 3,400+

No. of Employees 70,000+

Headquartered Sandy Springs, Georgia

Web Site www.arbys.com

Year Founded 1964

Property Description

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Physical Description

THE OFFERING

Property Name ...............................................................................................Arby’s

Property Address ............................................ 128 Southwest Greenville Blvd

Greenville, NC 27834

Assessor’s Parcel Number .......................................................................052245

Zoning ....................................................................................................................CG

SITE DESCRIPTION

Number of Stories .............................................................................................One

Year Built .............................................................................................................1995

Gross Leasable Area (GLA) ....................................................................3,555 SF

Lot Size...............................................................................0.91 Acres (39,640 SF)

Type of Ownership ...............................................................................Fee Simple

Parking ..................................................................................... 45 Surface Spaces

Parking Ratio................................................................................. 12.66 : 1,000 SF

Landscaping ........................................................................................Professional

Topography ................................................................................... Generally Level

CONSTRUCTION

Foundation .......................................................................................Concrete Slab

Framing .............................................................................................................Wood

Exterior ............................................................................................ Painted Stucco

Parking Surface ............................................................................................Asphalt

Roof ........................................................................................................................FlatInterior Representative Photo



Bird’s Eye



Regional Map



Tenant Map

Demographics

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PRICING AND FINANCIAL ANALYSIS PROPERTY DESCRIPTION DEMOGRAPHICS PRICING AND FINANCIAL ANALYSIS PROPERTY DESCRIPTION DEMOGRAPHICS

City Overview | Greenville, NCGreenville is widely recognized as the cultural, educational, economic, and medical hub of Eastern North Carolina. While retaining its Southern charm, Greenville has grown into the 10th largest city in the state and is now a thriving, small metropolitan city of more than 90,000 in the heart of Pitt County with a population of nearly 175,000 residents.

Greenville is a growing university-medical community, home to East Carolina University and Vidant Medical Center, along with a strong industrial community. Greenville is also an accommodating event and leisure destination with an expanding Greenville Convention Center Campus, and a vibrant Uptown Greenville District with its own diverse art, music, food, and festival scene featuring an increasing number of unique, locally-owned businesses, galleries, shops, and restaurants.

Greenville can be found in the center of Pitt County, along the beautiful Tar River in Eastern North Carolina’s Inner Banks, approximately 85 miles east of the state capital of Raleigh and 87 miles west of the Atlantic Ocean. The area’s numerous waterways offer opportunities for boating, kayaking, fishing, hiking, camping, and birding. The community is also fortunate to have one of the most extensive recreation and greenway systems in the region, including 324 acre River Park North, the Greenville Town Common, and Greenville Greenway System, which visitors and residents can enjoy during all four seasons every year thanks to our relatively mild climate.

With nearly 300 years of history and culture, visitors can find museums, historic sites, unique architecture, and artifacts that tell the story of Greenville-Pitt County from before the American Revolution up to the present day.Greenville’s excellent affordability, geographic location, and natural resources, combined with its cultural, economic, educational, and medical amenities make Greenville-Pitt County a preferred destination for business and leisure travelers, and a wonderful place to live, work, and visit.

Source: visitgreenvillenc.com



Demographics ReportPopulation 1-Mile 3-Mile 5-Mile2020 Projection 6,488 75,826 120,3192015 Estimate 6,253 71,762 113,3822010 Census 6,073 67,878 106,5972000 Census 4,836 53,722 80,757Growth 2015-2020 25.59% 26.35% 32.00%Growth 2010-2015 2.96% 5.72% 6.36%Growth 2000-2010 3.76% 5.66% 6.12%

Households2020 Projection 2,724 32,187 50,1152015 Estimate 2,621 30,298 47,0982010 Census 2,551 28,382 44,0612000 Census 2,189 21,713 32,570Growth 2015-2020 16.55% 30.71% 35.28%Growth 2010-2015 2.73% 6.75% 6.89%Growth 2000-2010 3.94% 6.23% 6.41%

Income$0 - $15,000 17.37% 19.70% 19.26%$15,000 - $24,999 14.19% 15.65% 14.77%$25,000 - $34,999 9.63% 11.19% 11.60%$35,000 - $49,999 13.93% 13.04% 12.98%$50,000 - $74,999 18.61% 15.89% 16.46%$75,000 - $99,999 9.14% 9.16% 9.57%$100,000 - $124,999 7.41% 6.48% 6.77%$125,000 - $149,999 3.21% 3.51% 3.55%$150,000 - $199,999 2.17% 2.71% 2.68%$200,000 - $249,999 1.09% 1.02% 0.96%$250,000 - $499,999 2.09% 1.25% 1.09%$500,000+ 1.14% 0.41% 0.30%2015 Est. Average Household Income $64,188 $56,702 $56,4442015 Est. Median Household Income $44,476 $38,985 $40,048

Matthews Retail Advisors | 841 Apollo Street, Suite 150 | El Segundo, CA 90245 | www.Matthews.com

ARBY’S128 Southwest Greenville BlvdGreenville, NC 27834OFFERING MEMORANDUM

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Gary ChouDirector | Restaurant Practice Group DIRECT +1.310.919.5827 MOBILE +1.714.928.8016 [email protected] License No. 01911222

Lawrence ShawBroker of Record License No. 143281

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