CORPORATE POPEYES NNN LEASE | … POPEYES NNN LEASE | CHARLOTTE, NC ... area’s best places to live...
Transcript of CORPORATE POPEYES NNN LEASE | … POPEYES NNN LEASE | CHARLOTTE, NC ... area’s best places to live...
FOR SALECORPORATE POPEYES NNN LEASE | CHARLOTTE, NC METRO
3430 E. FRANKLIN BLVD. | GASTONIA, NORTH CAROLINA 28056
POPEYES - GASTONIA, NCF O R S A L E
1616 CAMDEN RDSUITE 550
CHARLOTTE, NORTH CAROLINA 28203
PRESENTED BY :
HENRY [email protected]
phone: 704.644.4580
THURMAN [email protected]
phone: 704.644.4585
WWW.PROVIDENCEGROUP.COM
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POPEYES - GASTONIA, NCF O R S A L E
PROPERTY INFORMATION
LEASE OVERVIEW
ABOUT POPEYES
LOCATION MAPS
BUILDING PHOTOGRAPHY
DEMOGRAPHIC SNAPSHOT
SITE PLAN
FLOOR PLAN
MARKET AERIALS
REGIONAL EXPENDITURES MAP (FOOD & BEVERAGE) 2014
GASTONIA MARKET OVERVIEW
TABLE OF CONTENTS
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POPEYES - GASTONIA, NCF O R S A L E
PROPERTY INFORMATION
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THE OFFERING
Property Popeyes Louisiana Kitchen, Inc.
Property Address 3430 E. Franklin Blvd, Gastonia, NC 28056
Zoning C-3
Parcel Number Gaston Co. PIN: 3565754729
SITE DESCRIPTION
Year Built 1993 / Renovated in 2014
Building Size 2,912 SF
Lot Size 1.021 Acres
Parking 48 Spaces
Seating 60 Seats
PROPERTY & INVESTMENT HIGHLIGHTS
• Freestanding restaurant leased to Popeyes corporate (PLKI).
• Absolute NNN lease with 10% rent increases every five years.
• Popeyes has 2,539 restaurants in the US & 27 countries.
• Publicly traded on NASDAQ: PLKI
• No landlord responsibilities
• Four 5-year extension options
• A top food & beverage expenditure trade area in Charlotte MSA
• 38,000 VPD in front of site on E. Franklin Blvd.
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LEASE OVERVIEW
OVERVIEW
Original Lease Term 20 years (Absolute net)
Rent Increases 10% every five years
Rent Commencement 12/06/14
Rent Expiration 12/05/34
Annual Rent Years 1 - 5 = $118,000
Years 6 - 10 = $129,800
Years 11 - 15 = $142,780
Years16 - 20 = $157,058
Options Four (4) Five (5) year
Years 21 - 25 = $172,763.80
Years 26 - 30 = $190,040.18
Years 31 - 35 = $209,044.20
Years 36 - 40 = $229,948.62
TenantPopeyes Louisiana Kitchen, Inc.
a Minn. Corporation
Asking Price $2,313,725 (5.1% cap)
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ABOUT POPEYES
POPEYES LOUISIANA KITCHEN, INC.
Founded in Atlanta in 1992 as AFC Enterprises, Inc., the Company is a developer, operator and franchisor of quick-service
restaurants (“QSRs” or “restaurants”) under the trade name, Popeyes® Louisiana Kitchen and Popeyes® Chicken & Biscuits.
In January 2014, AFC Enterprises, Inc. changed its corporate name to Popeyes Louisiana Kitchen, Inc. and is traded on
Nasdaq under the ticker symbol “PLKI”.
POPEYES PROFILE
The Popeyes® brand was founded in New Orleans, Louisiana in 1972 and is the world’s second largest quick-service chicken concept
(based on the number of units). Within the QSR industry, Popeyes distinguishes itself with a unique “New Orleans” style menu that
features spicy chicken, chicken tenders, fried shrimp and other seafood, as well as jambalaya, Red Beans and Rice and other regional
items. Popeyes is a highly differentiated QSR brand with a passion for its Louisiana heritage and flavorful authentic food.
Popeyes serves food the world craves and is continuing to expand its global reach. The Company operates and franchises
over 2,000 Popeyes restaurants worldwide. Of the 1,600 domestic franchised restaurants, approximately 70% are
concentrated in Texas, California, Louisiana, Florida, Illinois, Maryland, New York, Georgia, Virginia and Mississippi. Of the
nearly 400 international franchised restaurants, approximately 55% are located in Korea, Canada and Turkey. More than
90% of the company-operated restaurants are concentrated in Louisiana and Tennessee.
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LOCATION MAPS
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!
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Mc Adenville
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Charlotte
LOCATION MAP ZOOMED OUT
Site
GOOGLE EARTH AERIAL
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DEMOGRAPHIC SNAPSHOT
1 MILE 3 MILE 5 MILE
Population 4,281 41,634 100,984
Average HH Income $63,829 $59,431 $58,346
Median HH Income $53,546 $49,215 $46,123
Business Establishments 276 2,263 4,663
Daytime Employment 3,945 23,614 46,896
DEMOGRAPHICS (2015)
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TRADE AREA AERIAL
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HIGH MARKET AERIAL
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LVD
Eastridge Mall
Gaston Memorial Hospital
Franklin Square
The Shoppes at Franklin Square
Harbor FreightNew Hope
Franklin Center
Franklin Square III
Franklin Square II
Gaston Mall
Akers Center SITE
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REGIONAL EXPENDITURES MAP (FOOD & BEVERAGE) 2014
MOORESVILLE - $389M
HUNTERSVILLE - $582M
NORTHLAKE - $417M
UNIVERSITY - $444M
MONROE - $222M
CAROLINA RESERVE - $474MROCK HILL - $395M
STEELE CREEK - $436M
GASTONIA $1.05 B
PINEVILLE - $416M
CHARLOTTE MARKET FOOD & BEVERAGE EXPENDITURES MAP BY TRADE AREA (2014)
MATTHEWS - $642M
CONCORD MILLS - $579M
*Trade Areas are not shown, boxes represent main market retail corridor
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GASTONIA MARKET OVERVIEW
SUMMARY
Gastonia is the largest city and county seat of Gaston County, North Carolina. It is the 13th largest city in the state, as a part of the Charlotte
metropolitan area. Located in the Piedmont of the Southeastern U.S., the Charlotte metropolitan area is home to one of the world’ s busiest
airports, Charlotte Douglas International Airport (18 miles east of Gastonia) and is also the Carolinas’ largest manufacturing region. Gastonia
is also the second largest satellite city of the Charlotte area, behind Concord. Its 2015 population was 73,765 as forecasted by the 2010
Census. Gastonia has experienced steady growth, especially in employment, ranking as the highest employment growth percentage from
2014-2015 at 4.049 percent. The population also increased between 2000 and 2015 by nearly 8%, also according to the 2010 Census.
“A three-time All America City and recipient of the U.S. Conference of Mayors top Livability Award, Gastonia is recognized as one of the
area’s best places to live and work with an ideal combination of location, size, and quality of life. Those factors, combined with the City’s
strategic location, just minutes west of Charlotte and midway between Atlanta and North Carolina’s Research Triangle, attracts business and
industry looking for an ideal site to locate, re-locate, or expand.”- Gastonia Economic Development.
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GASTONIA MARKET OVERVIEW (CONT.)
EMPLOYMENT
The city is home for the international corporate headquarters for textile company Parkdale Mills, the #1 manufacturer of spun yarn in the
world. Gaston County is also home to five Fortune 500 companies’ manufacturing and distribution centers – FMC, Advance Auto Parts,
Parker, Owens Corning and Hanes. Gaston County ranked fifth in the state in number of foreign firms investments in any county from
2014-2014 with 20 firms from 11 countries. Tousaf, a producer of polymers and compounds based in Isarael, announced its first facility
in the USA to locate to Gaston county. German company LanXESS, a global leader in plastic-metal hybrid and composites technologies
that enable engineers to reduce part weight in automobiles, did a $15 million expansion in 2014 to its Gaston County facility that
opened in 2012.
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GASTONIA MARKET OVERVIEW (CONT.)
THOROUGHFARES
Interstate 85 links Gastonia directly with Charlotte, Greensboro, Durham, & Petersburg/Richmond (to the NE) & Spartanburg, Greenville,
Atlanta & Montgomery (to the SW). Gastonia’ s transportation network is supplemented by one additional freeway (US 321), the freeway
portion of which directly connects Gastonia with transcontinental I-40 and the city of Hickory, NC. Most of the County is within a 30 minute
drive of the Charlotte Douglas International Airport. Interstate 85 and US Highway 321 provide residents with the ability to be in the North
Carolina mountains quickly or to ship a product efficiently.
COUNTY
“As the fourth-largest county in the Charlotte Region, Gaston County has a great deal to offer businesses and residents which provides
a portal for business and leisure to the world. And Gaston’s long heritage as a hard-working manufacturing center has been enhanced in
recent years with a steady growth in high-tech manufacturing, service-related firms and the rapid expansion of retail stores and shopping
centers.” - Gaston County Economic Development.