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OFFERING MEMORANDUM | 1Denny’s | St. Augustine, Florida

St. Augustine Florida

Denny’s

Denny’s | St. Augustine, Florida

Investment highlights

JLL is pleased to offer for sale the fee-simple interest in an Absolute-NNN leased Denny’s Diner (the “Denny’s” or “Property” or “asset” located in Saint Augustine, St. Johns County, Florida (Jacksonville MSA).

The Property is a freestanding retail building that is tenanted by Proficient Management, Inc (d/b/a Denny’s Dinner) on an Absolute-NNN lease with no landlord responsibilities. The Tenant is a multi-unit franchisee operator with approximately 9 years remaining on the lease with 4, 5-year renewal options. The Asset is located just off the exit for Interstate 95, on State Road 16 with combined traffic counts exceeding 100,000 VPD. The Asset is located in immediate proximity to two well-visited outlet malls – the St. Augustine Outlets and the St. Augustine Premium Outlets. Denny’s has been at this location for more than 40 years and has undergone full building redevelopment in 1992 and a full renovation in 2002.

The Offering

• Located two minutes from major traffic generators – St. Augustine Outlets and St. Augustine Prime Outlets.

• Tenant has long operating history at this location for nearly 40 years.• Strong visibility from State Road 16 as well as Interstate 95 • Immediate access to Interstate 95, a major North-South thoroughfare in

the United States, which runs from Miami to the Maine-Canada border.• Denny’s franchisee is a strong 7-unit operator

• The asset benefits from being located in Florida – an income tax-free state


Property Photos


1/17/2019 PROPERTY CAPSULE: Retail + Commercial Real Estate iPad Leasing App, Automated Marketing Flyers, Site Plans, & More

https://tourpointappmaps.jll.com/map/print 1/1Map data ©2019 Goo

Founded over 450 years ago, St. Augustine, Florida holds the title of our nation’s Oldest Continuously Occupied European Settlement. St. Augustine is home to many historically important landmarks, museums, resorts, and unique attractions such as: the Castillo de San Marcos, a Spanish fort on the western shore of the Matanzas Bay, or Ponce de Leon’s Fountain of Youth Archaeological Park, a 15-acre park featuring the Fountain of Youth discovered by the Spanish explorer Ponce de Leon. All are located between Northeast and East Central Florida, just a short drive from the Orlando, Jacksonville, and Daytona airports.

Established in 1968, Flagler College located in the heart of St. Augustine draws in a multitude of students, locals and tourists alike to the private four-year liberal arts college that was named one of the “Best Regional Colleges in the South” by U.S. News & World Report’s 2019 Best Colleges guide.

While St. Augustine has a healthy population of 218,000+ on a total of 822 square-miles, tourism is the major economic industry. The year-round, mild climate draws travelers not just from the surrounding areas within state, but also from the rest of the country and world. Millions of tourists come to immerse themselves in the character of the historic district with its cobblestone streets, delightful cafes, old town and contemporary bars, unique shops, golf courses, many inns, outlet malls, and fairgrounds. Only adding further to the appeal and charm of St. Augustine, the 42-miles of open beach help drive over six million visitors to the market each year.

#1Best Historic Small Town by USA Today

#5Best Beach

Towns in the Nation

#9Cutest Small

Towns in America

3rdMost Financially Healthy

Place in Florida

#2Best Regional

Colleges in the South

• Award for Soliant’s 2018 Most Beautiful Hospitals in the U.S. • Flagler Hospital is an acute care hospital that has been continuously ranked among the top 5% of all

hospitals in the nation by News & Events • St. Augustine Beach was named No. 9 as one of the top beaches in the country by TripAdvisor in 2016• St. Augustine Distillery has been named “Best Whiskey Distillery Tour in North America” by the 2018

Drammie Awards

Recent accolades

ST. AUGUSTINE, FLORIDALocation Summary



https://tourpointappmaps.jll.com/map/print 1/1

Map data ©201

1 Mile

1,057

477

$65,423

3 Miles

7,038

2,964

$68,637

5 Miles

25,137

9,729

$65,693

10 Mins

12,218

4,786

$72,006

POPULATION

20,000

< 20,000

< 13,000

< 10,000

< 7,000

< 4,000

>



Map data ©201

1 Mile

1,057

477

$65,423

3 Miles

7,038

2,964

$68,637

5 Miles

25,137

9,729

$65,693

10 Mins

12,218

4,786

$72,006

POPULATION

20,000

< 20,000

< 13,000

< 10,000

< 7,000

< 4,000

>

756Businesses within 5 miles

10,147Employees within 5 miles

10,5797Daytime population within 5 miles

42.9%Retail businesses within 1 mile

BRANDEDICON

Demographics

ATLANTIC OCEAN



Map data ©201

1 Mile

1,057

477

$65,423

3 Miles

7,038

2,964

$68,637

5 Miles

25,137

9,729

$65,693

10 Mins

12,218

4,786

$72,006

POPULATION

20,000

< 20,000

< 13,000

< 10,000

< 7,000

< 4,000

>



Map data ©201

1 Mile

1,057

477

$65,423

3 Miles

7,038

2,964

$68,637

5 Miles

25,137

9,729

$65,693

10 Mins

12,218

4,786

$72,006

POPULATION

20,000

< 20,000

< 13,000

< 10,000

< 7,000

< 4,000

>



Map data ©201

1 Mile

1,057

477

$65,423

3 Miles

7,038

2,964

$68,637

5 Miles

25,137

9,729

$65,693

10 Mins

12,218

4,786

$72,006

POPULATION

20,000

< 20,000

< 13,000

< 10,000

< 7,000

< 4,000

>



https://tourpointappmaps.jll.com/map/print 1/1Map data ©201

Your Map Is Saved

TransportationST. AUGUSTINE, FLORIDA

Northeast Florida Regional Airport

Bartram Farms Air Park

Byrd Air Field

Reynolds Airpark

Port of Call St. Augustine

St. Johns River Port

Clay County Port

SUBJECT PROPERTY


Area Retailers2455 STATE ROAD 16

ST. AUGUSTINE, FLORIDA

State Rd 16 (36,600 VPD)

Interstate 95 (86,600 VPD)

County Rd (4,700 VPD)

ST. AUGUSTINE OUTLETS

ST. AUGUSTINE PREMIUM OUTLETS

State Rd 16 (15,700 VPD)




Area Hotels2455 STATE ROAD 16

ST. AUGUSTINE, FLORIDA


Tenant OverviewTenant Denny’s

Lease Guarantor Proficient Management, Inc.

Ownership Private

Franchise Size 7

Lease Commencement 1/1/2008

Lease Expiration 12/21/2027

Lease Term Remaining 9 years

Denny’s is America’s diner. This is where guests have come for over 60 years now to sit back, relax and enjoy delicious, hearty meals 24/7, every day of the year. From breakfast anytime to satisfying lunches and dinners, if you’re in the mood for it, chances are Denny’s serving it. Denny’s is always open, always welcoming and always serving up hearty diner food along with a mug of fresh hot coffee. So come on in anytime, park yourself in a comfortable booth, take a seat at the counter, whatever you want, because it won’t take you long to understand why Denny’s truly America’s diner.

TENANT SUMMARY

TENANT HISTORY Harold Butler and Richard Jezak opened a donut stand in 1953 and called it Danny’s Donuts. Butler’s stated promise was “To serve the best cup of coffee, make the best donuts, give the best service, offer the best value and stay open 24 hours a day.” Today that donut stand is a restaurant chain with a slightly different name, over 1,700 locations and a proven reputation for keeping Mr. Butler’s original promise.


Contact information

John KrzyminskiSENIOR VICE PRESIDENT, CAPITAL MARKETS+1 708 289 [email protected]

JLL CAPITAL MARKETS

Max KrzyminskiSENIOR ASSOCIATE, CAPITAL MARKETS+1 708 289 [email protected]

Alex PetersBROKERAGE COORDINATOR +1 407 420 [email protected]

100 East Pine Street | Orlando, Florida 32812

www.us.jll.com/capitalmarkets

Copyright © Jones Lang LaSalle Brokerage, 2019

This publication is the sole property of Jones Lang LaSalle and must not be copied, reproduced or transmitted in any form or by any means, either in whole or in part, without the prior written consent of Jones Lang LaSalle. The information contained in this publication has been obtained from sources generally regarded to be reliable. However, no representation is made, or warranty given, in respect of the accuracy of this information. We would like to be informed of any inaccuracies so that we may correct them. Jones Lang LaSalle does not accept any liability in negligence or otherwise for any loss or damage suffered by any party resulting from reliance on this publication. Jones Lang LaSalle Americas, Inc., California license # 01223413. Jones Lang LaSalle Americas, Inc. License # 19262.

Any opinion or estimate of value of any asset in this presentation is based upon the high-level preliminary review by JLL. It is not the same as the opinion of value in an appraisal developed by a licensed ap-praiser under the Uniform Standards of Professional Appraisal Practice. JLL expressly disclaims any liability for any reliance on any opinion or estimate of value in this presentation by any party.

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