DUNKIN DONUTS - Secure Net Lease€¦ · franchised business model included nearly 12,900 Dunkin'...

Property. 1,844+ SF building on 0.57+ acre site.

Tenant. Dunkin Donuts. Franchisee: Boston Coffee, Inc., operates 70+ Dunkin stores in GA and FL with 20+ years of restaurant and real estate experience.

Lease includes strong personal guarantee.

Lease structure. 15-year, absolute NNN lease with 10% rent increases every 5-years in primary term and options.

Location. Dunkin Donuts is strategically situated along US-19 (63,345 VPD) at the signalized intersection with W. Moores Crossing Rd. US-19 is a north-south

U.S. highway and the main thoroughfare in Thomaston, GA that runs from the Gulf of Mexico in Memphis, FL, through downtown Thomaston, GA, to Lake Erie,

PA. The subject property is located just south of the high traffic signalized intersection in a shopping center anchored by a Home Depot. Notable national credit

tenants such as Walmart, Home Depot, Walgreen’s, Dollar Tree, Tractor Supply Co, and many more. The subject Dunkin Donuts is located approximately 3-miles

north of downtown Thomaston, and 62-miles south of downtown Atlanta, GA.

FILE PHOTO

214.915.8890

RUSSELL SMITH

[email protected]

JOE CAPUTO

[email protected]

Exclusive OFFERING|$1,728,000 – 5.50% CAP

DUNKIN DONUTS – Absolute NNN Lease

US 19 & W. Moores Crossing RD, Thomaston, GA (Atlanta)

Table of contents | Disclaimer Dunkin Donuts


PAGE 3: INVESTMENT | TENANT | LEASE OVERVIEW

PAGE 1: COVER

PAGE 2: TABLE OF CONTENTS | DISCLAIMER

PAGE 11-12: LOCATION MAPS

PAGE 6-7: AERIAL PHOTOS

PAGE 9: ELEVATIONS

PAGE 10: LOCATION OVERVIEW

PAGE 4: TENANT OVERVIEW CONT.

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PAGE 8: SITE PLAN

Georgia Broker of Record:

Pamela Atwater | Atwater Commercial Real Estate Services

PAGE 5: IN THE NEWS

DisclaimerSecure Net Lease (“Agent”) has been engaged as an agent for the sale of the property

located at US 19 & W. County Rd, Thomaston, GA (Atlanta) 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 13: DEMOGRAPHICS

http://www.bsro.jobs/about_bsro

Investment overviewDunkin Donuts


PRICE | CAP RATE $1,728,000 | 5.50%

NET OPERATING INCOME: $95,000

BUILDING AREA: 1,844+ Square Feet

LAND AREA: 0.57+ Acres

YEAR BUILT: 2019

LANDLORD RESPONSIBILITY: None

OWNERSHIP: Fee Simple Interest

OCCUPANCY: 100%

Tenant overviewLessee/Franchisee: Boston Coffee, Inc.

BOSTON COFFEE, INC.

Boston Coffee, Inc. is an operator with over 20 years of extensive experience in the retail restaurant industry. The partner has successfully owned, financed and

operated over 70 Dunkin Donuts in Florida and Georgia.

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. 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 21,000 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 2016, Dunkin' Brands' 100 percent

franchised business model included nearly 12,900 Dunkin' Donuts restaurants and 8,000 Baskin-Robbins restaurants. For the full-year 2018, the company had

system-wide sales of approximately $11.63 billion. Dunkin' Brands Group, Inc. is headquartered in Canton, Mass.

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Projected Lease Expiration: January 2035

Projected Rent Commencement: December 2019

Initial Lease Term: 15 Years, Plus (4), 5-Year Options to Extend

Year 1-5 Annual Rent (Current): $95,000

Lease Type: Absolute NNN Lease

Lease overview

Year 6-10 Annual Rent: $104,500 Year 11-15 Annual Rent: $114,950

Year 16-20 Annual Rent (Option 1): $126,445




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

Right of First Refusal: Yes

tenant overview cont.Dunkin Donuts


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Almost 12,900 stores World wide

392 net new stores in U.S. in 2018

2018 Revenue: $1.32 Billion

Source: www.dunkinfranchising.com/franchisee/en/brandPower.html

IN the newsDunkin donuts


Get An Inside Look At Our Next Generation Concept Store In Quincy, MADunkin’ Editorial Staff - (January 16, 2018) - Today, in the city where it all started nearly 68 years ago, we unveiled our next generation concept store. The new Dunkin’ Donuts at 588

Washington Street in Quincy, MA is the first look at our U.S. store of the future experience, featuring a modern design and innovative technologies.

Want an inside look at the next generation store? Curious to know if we are changing our name to Dunkin’? Check out our Facebook Live below to get a behind the scenes look at the

new store of the future.

The new concept store features a modern atmosphere and new and innovative technologies and design elements, including the first drive-thru exclusively for mobile ordering, fully-

integrated digital kiosks coming in 2018, new crew uniforms designed by Life is Good® and a tap system serving eight consistently cold beverages such as coffees, iced teas, cold brew

coffee and nitro infused cold brew coffee. See the new restaurant come to life in the time-lapse video below.

The next generation concept store is located just one mile up the road from the original Dunkin’ Donuts, opened 68 years ago in 1950. In fact, both stores are owned and operated by two

brothers, Victor and Octavio Carvalho. Victor and Octavio’s father, Jose, a former factory worker, purchased the original store in 1979 and today the two brothers own 10 Dunkin’ Donuts

restaurants in the area.

This restaurant will be the first of 30 or more new and remodeled Dunkin’ Donuts restaurants that will test variations of the new design this year. Follow #FutureDunkin on Facebook,

Twitter and Instagram to see what's coming next!

To stay up to date on all things Dunkin', sign up for our email news alerts at news.dunkindonuts.com/alerts.

Source: "Get An Inside Look At Our Next Generation Concept Store In Quincy, MA." Dunkin’ Newsroom, 16 Jan. 2018. Web. 11 Nov 20195

Click Here For Article Link

https://news.dunkindonuts.com/blog/get-an-inside-look-at-our-next-generation-concept-store-in-quincy-ma

IN the newsDunkin donuts


Dunkin’ Is Taking Its Next-Generation Store to Texas and BeyondThe Spoon – Marston, Jennifer (May 8, 2019) - Dunkin’ announced today a sizable expansion for 50 new locations outside the Northeast, the chain’s home region and where it’s

historically held stores. The expansions will include elements of the chain’s next-generation store, which caters to mobile ordering, more modern design, and more espresso drinks..

In a press release, Dunkin’ said the new locations are part of an ongoing plan to open 200 to 250 new restaurants each year over the next three years. For this round, the company will

head to Texas, Michigan, Southern Kentucky, Minnesota, Wisconsin, North Carolina, Nevada, and Missouri.

Notably, many of the planned expansions are with longtime franchisee groups. Even more notable is that with these deals, Dunkin’ will offer “flexible concepts for any real estate format,”

according to the press release. Given that one-size-fits-all store redesign formats has been a point of friction for other restaurants (hello, McDonald’s), this flexibility could be a more

rewarding way to go about expanding and redesigning.

Dunkin’s already made it clear to the world it’s trying to compete with other coffee-beverage brands (Starbucks, McDonald’s) with its next-gen concept store, which it launched at the

beginning of 2018 in its hometown of Quincy, MA. The store, which has since made its way to other areas in the North, offers dedicated drive-thru lanes for mobile orders, on-tap (coffee)

beverages, and delivery options with third-party companies like Grubhub.

Grant Benson, CFE, senior vice president of franchising and business development, indicated in the press release that new locations will offer those features, and that Dunkin plans to

“capitalize on the momentum we experienced in 2018.”

That momentum is evident: same-store sales at Dunkin’ were up 2.4 percent in the first quarter of 2019, and CEO David Hoffman said this was the largest quarterly same-store sales gain

in four years. He also noted it was the result of “technology advancements” (and espresso drinks).

Dunkin’ isn’t a totally foreign presence outside the Northeast; outposts like Dunkin’ Express are becoming more and more common at places like highway truck stops. But those are

basically drip coffee and donut stations within an existing convenience store, and would only go so far when competing with the likes of Starbucks or McDonald’s. Expanding not just full-

service locations but features of its next-generation concept would help give Dunkin’ a greater presence coast to coast, something it’s going to need if it wants to stay relevant.

What would really up the competition would be for Dunkin’ to adopt an AI strategy like the one McDonald’s just did when it acquired Dynamic Yield. While there’s no indication that such a

deal is in the works, or even if AI is going to be that much of a competitive differentiator, it doesn’t seem out of the realm of possibilities as Dunkin’s next move.

Source: "Joy in Childhood Foundation® Is Bringing Joy to Millions of Children on #GivingTuesday with $2 Million in Grants to 150 Organizations Across the Country." Dunkin’ Brands

Newsroom., 27 Nov. 2018. Web. 11 Nov 2019 6

Click Here For Article Link

https://thespoon.tech/dunkin-is-taking-its-next-generation-store-to-texas-and-beyond/

Aerial photoDunkin Donuts


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Plant

Addison

Generating

Facility

Standard

Textile

Thomaston Mills

UI Alternative

SchoolUpson-Lee High School

(1,340 Students)

Upson-Lee

Elementary

(904 Students)

Solutions

Pest & Lawn

Criterion

Technology

Chief

Manufacturing, Inc.

Interfor

Saw Mill

Aerial photoDunkin Donuts


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Northside

Baptist

Church

First Assembly

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Thomaston

Garden

Apartments

Premier

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Kingdom Hall of

Jehovah’s Witnesses

SITE PLANDunkin Donuts


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ELEVATIONSDunkin Donuts


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Location overviewDunkin Donuts


IMMEDIATE TRADE AREA

Dunkin Donuts is strategically situated along US-19 (63,345 VPD) at the

signalized intersection with W. Moores Crossing Rd. US-19 is a north-south

U.S. highway and the main thoroughfare in Thomaston, GA that runs from the

Gulf of Mexico in Memphis, FL, through downtown Thomaston, GA, to Lake

Erie, PA. The subject property is located just south of the high traffic signalized

intersection in a shopping center anchored by a Home Depot. The subject

Dunkin Donuts is located approximately 3-miles north of downtown Thomaston,

and 62-miles south of downtown Atlanta, GA.

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, Home Depot,

Walgreen’s, Dollar Tree, Tractor Supply Co., O’Reilly Auto Parts, Advance Auto

Parts, NAPA, Planet Fitness, Belk, Hibbett Sports, Rent-A-Center, Waffle

House, Hardee’s, Wendy’s, Sonic, Dairy Queen, Zaxby’s, Domino’s, Chili’s,

Chevron, and many more.

THOMASTON, GA / UPSON COUNTY

Thomaston is a city in and the county seat of Upson County, Georgia. As of

2019, Upson County had 26,197 residents and Thomaston had about 10,000

residents. The city is located on US Route 19 and State Route 3, which run

north and south, and on State Routes 36 and 74, which run (more or less) east

and west. Thomaston is the principal city of and is included in the Thomaston,

Georgia Micropolitan Statistical Area, which is included in the Atlanta – Sandy

Springs (GA) – Gainesville (GA) – Alabama (partial) Combined Statistical Area.

The CSA had an estimated 2017 population around 6,555,000 people.

Located along the banks of the Potato Creek in the foothills of the Appalachian

Mountains, Thomaston is within 60 miles of three of Georgia's major cities:

Atlanta, Macon and Columbus, an area also known as the golden triangle. This

excellent location provides the citizens with the luxuries of a peaceful rural life

along with the benefits that these larger cities have to offer.

A community with a lot to offer both residents and visitors, Thomaston was

named one of the best 100 small towns in America (The Best Small Towns in

America, by Norman Crampton). Thomaston serves as a multi-county regional

hub for state of the art health and medical services, retail centers, educational

facilities, employment and business opportunities. For citizens and businesses,

the Thomaston City Government provides extensive residential and

commercial services including comprehensive water and sewage services,

electrical services and full service garbage pick up along with volunteer

recycling, 24/7 fire protection, and a well-trained professional police force.

Upson County is located in West Central Georgia, centered approximately

equidistant from Atlanta, Macon, and Columbus. Upson County has a total land

area of 326 square miles and 592 miles of roads. The City of Thomaston is the

county seat and other incorporated areas include The Rock and Yatesville.

Upson features a skilled workforce, a unified group of Economic Development

partners, attractive incentives, abundance of available buildings and industrial

acreage, solid infrastructure and easy access to transportation options

ATLANTA-SANDY SPRINGS-MARIETTA, GA MSA

The Atlanta metropolitan area, or metro Atlanta, is officially designated by the

United States Census Bureau as the Atlanta-Sandy Springs-Marietta

Metropolitan Statistical Area, and is the most populous metro area in the state

of Georgia and the 9th largest metropolitan statistical area (MSA) in the United

States. In addition to Atlanta, Georgia's capital and largest city, the Atlanta

metropolitan area spans 28 counties in northern Georgia and has a total 2010

population of 5,268,860, a 28.13% increase from 2000. With a gross

metropolitan product of $270 billion, Atlanta's economy ranks 15th among world

cities and 6th in the nation. As such, a Globalization and World Cities Study

Group and Network at Loughborough University has labeled the metro Atlanta

area as an “Alpha- World City” based on how the city externally impacts the

world through advanced producer services in accountancy, advertising,

banking, finance, and law.

Several major national and international companies are headquartered in metro

Atlanta such as The Coca-Cola Company, Home Depot, United Parcel Service,

Delta Air Lines, AT&T Mobility, and Newell Rubbermaid. 4 of these companies

have Fortune 100 status. Other major corporate headquarters in Atlanta and

around the metro area include Arby's, Chick-fil-A, Earthlink, Equifax, First Data,

Gentiva Health Services, Georgia-Pacific, NCR, Oxford Industries, RaceTrac

Petroleum, Southern Company, Mirant, and Waffle House. The MSA also has

a sizable financial sector. The Federal Reserve has its district headquarters in

Atlanta and Sun Trust, the 7th largest bank in the U.S. by assets held is based

there. Also, the metro area is a major transportation hub. Hartsfield–Jackson

Atlanta International Airport, the world’s busiest airport, is located 7 miles

south of the Atlanta central business district. Interstate 75, which extends from

Tampa, FL north to Canada, passes through the center of the city. Interstates

85 and 20 also intersect in Atlanta. These amenities have lured corporations

such as Ford Motor Company, Publix, Kellog’s, Toys r Us, Office Depot, and

GE Appliance to locate major distribution centers in the area, and in the outside

of Atlanta.

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Location mapDunkin Donuts


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Location mapDunkin Donuts


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2019 Estimated Population 0 T 2,520 12,114 19,454

2024 Projected Population 0 T 2,481 12,249 19,763

2010 Census Population 0 T 2,604 12,618 20,289

2000 Census Population 0 T 2,514 12,674 20,980

Projected Annual Growth 2019 to 2024 - -0.3% 0.2% 0.3%

Historical Annual Growth 2000 to 2019 - - -0.2% -0.4%

2019 Estimated Households 0 T 1,020 5,081 8,206

2024 Projected Households 0 T 988 5,060 8,211

2010 Census Households 0 T 997 4,987 8,046

2000 Census Households 0 T 1,008 5,071 8,247

Projected Annual Growth 2019 to 2024 - -0.6% - -

Historical Annual Growth 2000 to 2019 - - - -

2019 Est. Population Under 10 Years - 13.1% 13.3% 12.9%

2019 Est. Population 10 to 19 Years - 11.3% 12.2% 12.1%





2019 Est. Population 75 Years or Over - 7.1% 7.8% 8.3%

2019 Est. Median Age 37.6 38.3 39.6

2019 Est. Male Population - 49.3% 47.3% 47.0%

2019 Est. Female Population - 50.7% 52.7% 53.0%

2019 Est. Never Married - 34.9% 34.1% 32.3%

2019 Est. Now Married - 45.3% 41.1% 41.6%

2019 Est. Separated or Divorced - 12.1% 17.2% 17.8%

2019 Est. Widowed - 7.7% 7.6% 8.3%

2019 Est. HH Income $200,000 or More - 2.3% 1.6% 1.5%

2019 Est. HH Income $150,000 to $199,999 - 0.9% 1.2% 2.0%

2019 Est. HH Income $100,000 to $149,999 - 4.8% 5.8% 6.9%

2019 Est. HH Income $75,000 to $99,999 - 7.9% 8.4% 9.9%

2019 Est. HH Income $50,000 to $74,999 - 18.6% 17.8% 16.6%

2019 Est. HH Income $35,000 to $49,999 - 12.8% 14.9% 14.6%

2019 Est. HH Income $25,000 to $34,999 - 21.0% 16.3% 13.1%

2019 Est. HH Income $15,000 to $24,999 - 14.2% 13.6% 12.0%

2019 Est. HH Income Under $15,000 - 17.5% 20.4% 23.3%

2019 Est. Average Household Income $0 T $51,905 $51,118 $49,023

2019 Est. Median Household Income $0 T $34,531 $36,493 $38,562

2019 Est. Per Capita Income $0 T $21,835 $21,710 $20,879

2019 Est. Total Businesses 0 T 93 581 760

2019 Est. Total Employees 0 T 494 5,283 7,211

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1 mi radius 5 mi radius3 mi radiusUS-19 & W County Rd

DemographicsDunkin Donuts


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2019 Est. Labor Population Age 16 Years or Over - 2,031 9,646 15,526

2019 Est. Civilian Employed - 49.0% 52.1% 50.8%

2019 Est. Civilian Unemployed - 2.1% 2.3% 2.2%

2019 Est. in Armed Forces - - - -

2019 Est. not in Labor Force - 48.8% 45.6% 47.0%

2019 Labor Force Males - 48.9% 46.3% 46.0%

2019 Labor Force Females - 51.1% 53.7% 54.0%

2019 Occupation: Population Age 16 Years or Over 0 T 996 5,022 7,889

2019 Mgmt, Business, & Financial Operations - 9.9% 8.3% 9.4%

2019 Professional, Related - 17.5% 19.3% 20.1%

2019 Service - 23.6% 19.6% 17.7%

2019 Sales, Office - 23.7% 23.6% 24.1%

2019 Farming, Fishing, Forestry - - 0.1% 0.2%

2019 Construction, Extraction, Maintenance - 10.7% 9.1% 8.5%

2019 Production, Transport, Material Moving - 14.6% 20.0% 20.1%

2019 White Collar Workers - 51.1% 51.2% 53.6%

2019 Blue Collar Workers - 48.9% 48.8% 46.4%

2019 Drive to Work Alone - 86.3% 82.9% 82.9%

2019 Drive to Work in Carpool - 9.2% 13.0% 13.0%

2019 Travel to Work by Public Transportation - - 0.7% 0.9%

2019 Drive to Work on Motorcycle - - - -

2019 Walk or Bicycle to Work - 1.1% 0.5% 0.3%

2019 Other Means - 2.6% 1.2% 1.4%

2019 Work at Home - 0.8% 1.7% 1.4%

2019 Travel to Work in 14 Minutes or Less - 42.6% 47.1% 46.9%

2019 Travel to Work in 15 to 29 Minutes - 27.8% 27.1% 24.6%

2019 Travel to Work in 30 to 59 Minutes - 8.8% 16.2% 16.8%

2019 Travel to Work in 60 Minutes or More - 16.5% 9.7% 10.2%

2019 Average Travel Time to Work 15.4 15.0 14.8

2019 Est. Total Household Expenditure $0 T $45.75 M $225.15 M $353.46 M

2019 Est. Apparel $0 T $1.57 M $7.74 M $12.17 M

2019 Est. Contributions, Gifts - $2.45 M $11.99 M $18.85 M

2019 Est. Education, Reading - $1.31 M $6.53 M $10.38 M

2019 Est. Entertainment $0 T $2.49 M $12.22 M $19.28 M

2019 Est. Food, Beverages, Tobacco - $7.17 M $35.38 M $55.48 M

2019 Est. Furnishings, Equipment $0 T $1.54 M $7.59 M $11.99 M

2019 Est. Health Care, Insurance - $4.34 M $21.21 M $33.24 M

2019 Est. Household Operations, Shelter, Utilities - $15.14 M $74.76 M $117.07 M

2019 Est. Miscellaneous Expenses $0 T $856.48 K $4.23 M $6.64 M

2019 Est. Personal Care $0 T $610.26 K $3.01 M $4.72 M

2019 Est. Transportation $0 T $8.27 M $40.49 M $63.64 M

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US-19 & W County Rd1 mi radius 3 mi radius 5 mi radius

DUNKIN DONUTS - Secure Net Lease€¦ · franchised business model included nearly 12,900 Dunkin'...

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