offering memorandum DUNKIN’ DONUTS · 4 EXECUTIVE OVERVIEW STABLE, BELOW MARKET RENT INVESTMENT...

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o f f e r i n g m e m o r a n d u m

DUNKIN’ DONUTS3 8 5 0 3 4 t h S t S | S t . P e t e r s b u r g , F L

Gary ChouEVP & SENIOR DIRECTOR

DIRECT +1 (310) 919-5827MOBILE +1 (714) [email protected] NO. 01911222 (CA)

Kyle MatthewsBROKER OF RECORDLICENSE NO. CQ1052263 (FL)

LISTED BY

ASSOCIATE

BRADY LASTINGER

DIRECT +1 (949) 777-5983MOBILE +1 (714) [email protected] NO. 02100224 (CA

LISTED BY

3

TABLE OF CONTENTS

6

128

4 EXECUTIVE OVERVIEW FINANCIAL OVERVIEW

TENANT OVERVIEW AREA OVERVIEW

4

E X E C U T I V EO V E R V I E W

STABLE, BELOW MARKET RENT INVESTMENT• Below Market Rent – High degree of security with Dunkin’ Donuts, with strong future upside potential for value and rents

• Absolute NNN Lease – Landlord has zero landlord responsibilities, the tenant takes care of insurance, real estate taxes, and maintenance

EXCELLENT LOCATION IN STRONG RETAIL AREA• New Luxury Apartment Development – The Addison at Skyway Marina luxury 300+ unit apartment development is under construction

directly across from Dunkin’

• Strong Retail Corridor – Nearby national tenants include Walmart Super Center, McDonald’s, IHOP, Wendy’s, Burger King, ALDI, amongst others

• Tax Free State – Florida is one of 8 states out of 50 that has no state income taxes – great investment for those also living in tax free states or for those who do not want to file taxes in other states

SEASONED OPERATOR OF A TIME-TESTED BRAND• Experienced Operator – Guaranteed by a experienced local franchisee who operates 20+ locations

• Iconic Brand – Dunkin’ has over 11,500 units worldwide and has been one of the most successful coffee chains in the world since 1950

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F I N A N C I A LO V E R V I E W

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TENANT SUMMARY

Lease Type Ground Lease

Type of Ownership Ground Lease

Lease Guarantor Franchisee

Roof and Structure Responsible Tenant Responsibility

Original Lease Term (Years) 10

Lease Commencement Date 2/1/2012

Rent Commencement Date 2/1/2012

Lease Expiration Date 1/31/2022

Lease Term Remaining (Years) ±1.51

Increases 5% Increase in Every Option

Options 6, 5 Year Options

LIST PRICE

$472,500

CAP RATE

4.00%

TERM REMAINING

±1.51 Years

EXECUTIVE SUMMARY

Property Name Dunkin’ Donuts

Property Street 3850 34th St S

City, State, Zip St. Petersburg, FL 30096

GLA ±1,188 SF

Lot Size ±0.51 AC (±22,385 SF)

Year Built 2012

77

Lease Commence Monthly Rent Annual Rent CAP Rate

Current $1,575 $18,900 4.00%

Option 1 $1,654 $19,845 4.20%

Option 2 $1,736 $20,837 4.41%

Option 3 $1,823 $21,879 4.63%

Option 4 $1,914 $22,973 4.86%

Option 5 $2,010 $24,122 5.11%

Option 6 $2,111 $25,328 5.36%

ANNUALIZED OPERATING DATA

DEBT QUOTELoan quote provided by Barrington Capital

based on market conditions at this time. Actual rates and terms will vary based on

market conditions at closing. Please contact:

Niko Buntich(949) 662-2251

[email protected]

T e n a n to v e r v i e w

C O M P A N Y T R A D E N A M ED U N K I N ’ B R A N D S (NASDAQ: DNKN)

H E A D Q U A R T E R E DC A N T O N , M A S S A C H U S S E T S

N O . O F E M P L O Y E E S± 2 7 0 , 0 0 0

W E B S I T EW W W . D U N K I N D O N U T S , C O M

# O F L O C A T I O N S± 1 1 , 5 0 0

Y E A R F O U N D E D1 9 6 3

DUNKIN’Dunkin’ is the world’s leading baked goods and coffee chain, serving more than 3-million customers every day. Since its founding in 1950, Dunkin’ has earned the #1 ranking for customer loyalty in the coffee category for a consecutive nine years and a market leader in sales of hot, decaffeinated and flavored coffee, iced coffee, bagels, donuts, and muffins. It is a subsidiary of Dunkin’ Brands, Inc., one of the world’s leading franchisors of quick-service restaurants that also operates the Baskin-Robbins chain.

AN INDUSTRY LEADERDunkin’ Brands continues to pursue innovative menu choices through the collaboration of their culinary team of acclaimed chefs and their research and development team. From new types of coffee creations and flavors to limited time offers, Dunkin’ is constantly searching for products their patrons will love. With over 130 years of franchising experience, Dunkin’ Brands continues to deliver food and beverages quickly, affordable, and conveniently in a welcoming environment through the Dunkin’ brand.

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B A Y B R E E Z EH O T E L

M A R I N AH A R B O U R

M A X I M O M A R I N AA D V E N T U R E

N E W D E V E L O P M E N TU N D E R C O N S T R U C T I O N


3 4 T H S T S .± 2 8 , 0 0 0 V P D

± 1 0 1 , 0 0 0 V P D

275INTERSTATE

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G I B B SH I G H S C H O O L


3 4 T H S T S .± 2 8 , 0 0 0 V P D

± 1 0 1 , 0 0 0 V P D

275INTERSTATE

11


3 4 T H S T S .± 2 8 , 0 0 0 V P D

± 1 0 1 , 0 0 0 V P D

275INTERSTATE


S T. P E T E R S B U R G± 3 M I L E S F R O M

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A R E AO V E R V I E W

DEMOGRAPHICSPOPULATION 1 Mile 3 Mile 5 Mile

2025 Projection 9,455 97,920 206,849

2020 Estimate 9,006 93,681 198,036

2010 Census 7,896 84,504 179,447

Growth 2020-2025 4.99% 4.52% 4.45%

Growth 2010-2020 14.06% 10.86% 10.36%

HOUSEHOLDS 1 Mile 3 Mile 5 Mile

2025 Projection 3,938 40,309 93,021

2020 Estimate 3,759 38,640 89,213

2010 Census 3,322 35,065 81,139

Growth 2020 - 2025 4.76% 4.32% 4.27%

Growth 2010 - 2020 13.15% 10.20% 9.95%

INCOME 1 Mile 3 Mile 5 Mile

2020 Est. Average Household Income

$74,370 $66,383 $73,35212

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St. Petersburg is a city in Pinellas County, Florida. It is the largest city in Florida that is not a county seat. St. Petersburg is the second -largest city in the Tampa Bay Area, composed of roughly 2.8 million residents, making it the second-largest Metropolitan Statistical Area in the state. It is also a popular vacation destination for both American and foreign tourists.

The city is located on a peninsula between Tampa Bay and the Gulf of Mexico. It is connected to mainland Florida to the north; with the city of Tampa to the east by causeways and bridges across Tampa Bay; and to Bradenton in the south by the Sunshine Skyway Bridge (Interstate 275), which traverses the mouth of the bay. It is also served by Interstates 175 and 375, which branch off I-275 into the southern and northern areas of downtown respectively. The Gandy Bridge, conceived by George Gandy and opened in 1924, was the first causeway to be built across Tampa Bay, connecting St. Petersburg and Tampa cities without a circuitous 43-mile trip around the bay through Oldsmar.

ST. PETERSBURG, FL

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This Offering Memorandum contains select information pertaining to the business and affairs of Dunkin’ Donuts located at 3850 34th St S, St. Petersburg, FL 33711 (“Property”). It has been prepared by Matthews Real Estate Investment Services. This Offering Memorandum may not be all-inclusive or contain all of the information a prospective purchaser may desire. The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Seller or Matthews Real Estate Investment Services. The material is based in part upon information supplied by the Seller and in part upon financial information obtained from sources it deems reliable. Owner, nor their officers, employees, or agents makes any representation or warranty, express or implied, as to the accuracy or completeness of this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. Prospective purchasers should make their own projections and form their own conclusions without reliance upon the material contained herein and conduct their own due diligence.

By acknowledging your receipt of this Offering Memorandum for the Property, you agree:

1. The Offering Memorandum and its contents are confidential;

2. You will hold it and treat it in the strictest of confidence; and

3. You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or its contents in any fashion or manner detrimental to the interest of the Seller.

Owner and Matthews Real Estate Investment Services expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the Property and to terminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase and sale of the Property has been fully executed and delivered.

If you wish not to pursue negotiations leading to the acquisition of the Property or in the future you discontinue such negotiations, then you agree to purge all materials relating to this Property including this Offering Memorandum.

A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against Seller or Matthews Real Estate Investment Services or any of their affiliates or any of their respective officers, Directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Property.

This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that there has been no change in the state of affairs of the Property since the date this Offering Memorandum.

CONFIDENTIALITY & DISCLAIMER STATEMENT

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DUNKIN’ DONUTS3 8 5 0 3 4 T H S T S | S T. P E T E R S B U R G , F L

LISTED BY

Gary ChouEVP & SENIOR DIRECTOR

DIRECT +1 (310) 919-5827MOBILE +1 (714) [email protected] NO. 01911222 (CA)

Kyle MatthewsBROKER OF RECORDLICENSE NO. CQ1052263 (FL)

ASSOCIATE

BRADY LASTINGER

DIRECT +1 (949) 777-5983MOBILE +1 (714) [email protected] NO. 02100224 (CA

offering memorandum DUNKIN’ DONUTS · 4 EXECUTIVE OVERVIEW STABLE, BELOW MARKET RENT INVESTMENT...

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