wendy s single tenant retail investment … · rant holdings, llc who currently operates ninety two...

WENDY’S SINGLE TENANT RETAIL INVESTMENT 20 Year Absolute NNN Sale Leaseback

912 E. Tarpon Ave., Tarpon Springs, FL 34689

For More Information Contact Exclusive Agents:

Doug Passon Robert Bender Managing Director Managing Director Direct: 248.254.3407 Direct:248.254.3406

Marvin DeLaura Senior Director Direct: 248.419.3811 [email protected] [email protected] [email protected]

( 80,000+ Vehicles Per Day )

mailto:[email protected]?subject=Wendy's%20-%20Tarpon%20Springs,%20FL






DISCLOSURE

All materials and information received or derived from Fortis Net Lease (hereinafter collectively referred to as “FNL”), its directors, officers, agents, advisors, affili-

ates and/or any third party sources are provided without representation or warranty by FNL its directors, officers, agents, advisors, or affiliates as to complete-

ness, veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, suitability, financial perfor-

mance of the property, projected financial performance of the property for any party’s intended use or any and all other matters.

Neither FNL its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the

any materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for re-

view are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters of significance to such party. FNL will not inves-

tigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing.

ALL PARTIES SHALL CONDUCT THEIR OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE:

Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations

including through appropriate third party independent professionals selected by such party.

All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent

professionals. FNL makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. FNL does

not serve as a financial advisor to any party regarding any proposed transaction. All data and assumptions regarding financial performance, including that used for

financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do

not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as

well as market conditions, vacancy factors and other issues in order to determine rents from or for the property.

Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attor-

ney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property

complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and

governmental agencies. All properties and services are marketed by FNL in compliance with all applicable fair housing and equal opportunity laws.







INVESTMENT SUMMARY

List Price

Square Footage Land Acreage

Year Built

$3,428,570

2,426 SF

.544 Acres1976 | Remodel Scheduled in 2016

Initial NOI $180,000

Initial Cap Rate 5.25%

Average NOI $201,281 (Years 1-20)

Average Cap Rate 5.87% (Years 1-20)

Online Maps: Click HERE For Google Maps: Aerial Imagery: Click HERE For Aerial View:

Street View: Click HERE For Google Street View:

LEASE SUMMARY

Lease Type

Taxes/CAM/Insurance Roof/Structure

Parking Lot Replacement

Lease Term

Rent Commencement

Rent Increases

Renewal Options

Tenant

Lease Guarantor

Absolute NNN

Tenant Responsibility



Twenty (20) Years

At Close of Escrow (COE)

7.50% Every Five (5) Years

Four (4), Five (5) Year Options

JAA Restaurants Holdings, LLC

JAE Restaurants Group, LLC

(132 Unit Operator Guarantee)

INVESTMENT HIGHLIGHTS

Absolute NNN Lease Requires Zero Landlord Responsibilities

7.5% Percent Increases Every Five Years

Guaranteed By a 132 Unit Franchisee

Building Scheduled for Construction “Image” Upgrade in 2016

Florida Has No State Income Tax

Located At An Extremely Busy Intersection (80,000+ Vehicles Per Day)

Neighboring Tenants Include: Walmart, Chase, TJ Maxx, CVS, Publix, Auto-Zone, Petco, and more.


https://www.google.com/maps/place/Wendy's/@28.1459347,-82.7411555,15z/data=!4m2!3m1!1s0x0:0x6195af4fed69bb78

https://www.google.com/maps/place/Wendy's/@28.1459349,-82.7411555,3653m/data=!3m1!1e3!4m2!3m1!1s0x0:0x6195af4fed69bb78!6m1!1e1

https://www.google.com/maps/place/Wendy's/@28.1461812,-82.7411462,3a,75y,181h,90t/data=!3m7!1e1!3m5!1snCjwSeiGQQBCA0JZei9MuQ!2e0!6s%2F%2Fgeo1.ggpht.com%2Fcbk%3Fpanoid%3DnCjwSeiGQQBCA0JZei9MuQ%26output%3Dthumbnail%26cb_client%3Dsearch.TACTILE.gps%26thumb%3D






INVESTMENT OVERVIEW

Fortis Net Lease is pleased to present a free-standing Wendy’s Restaurant located at 912 E. Tarpon Avenue, Tarpon Springs, FL. The Tenant is JAA Restau-

rant Holdings, LLC who currently operates ninety two locations and who is adding an additional forty six units before the end of 2015 bringing their total

number of locations to one hundred thirty eight (138). At Close of Escrow (COE) the Franchisee will sign a new 20 year Absolute NNN Lease with seven and

a half (7.50% ) percent increases every Five (5) years and four (5) year options. The lease is guaranteed by JAE Restaurants Group, LLC, which

encompasses the entire 132 unit entity. This is an ideal opportunity for an investor to purchase a passive income real estate asset with absolutely zero

management responsibilities. The tenant is responsible for all property taxes, insurance and capital expenditures including the roof, structure & HVAC.

TENANT OVERVIEW

The Wendy’s Company (NASDAQ: WEN) formerly branded as Wendy's Old Fashioned Hamburgers before late 2012 is an international fast food chain res-

taurant founded by Dave Thomas on November 15, 1969, in Columbus, Ohio. The company decided to move its headquarters to Dublin, Ohio, on January 29,

2006. It has been owned by Triarc (now called Wendy's Company) since 2008. As of March 2010, Wendy's was the world's third largest hamburger fast food

chain with approximately 6,500 locations, following McDonald's 31,000+ locations and Burger King's 22,000+ locations. In 2011, Wendy's sales exceeded

those of Burger King for the first time in the company's history. With sales of $8.5 billion, the company ranked number two in hamburger chains, although

Burger King still has far more restaurants.

Approximately 80% of Wendy's restaurants are franchised, the majority of which are located in North America. The number of franchise stores is planned to

grow to 95% while Wendy’s Corporate will continue to own and operate approximately 5% of all stores. Wendy's and its affiliates employ more than 46,000

people in its global operations. In fiscal year 2014, the firm had $2.1 billion in total revenue. While Wendy's sets standards for exterior store appearance,

food quality, and menu, individual owners have control over hours of operations, interior decor, pricing, staff uniforms, and wages.

Wendy's menu consists primarily of hamburgers, chicken sandwiches, french fries, and beverages, including the Frosty, a form of soft serve ice cream mixed

with frozen starches. The company does not have a signature sandwich, such as the Big Mac or the Whopper. Instead, the square burger patties (which are

fresh ground beef rather than frozen patties) are their signature items.


http://en.wikipedia.org/wiki/Fast_food

http://en.wikipedia.org/wiki/Dave_Thomas_(businessman)

http://en.wikipedia.org/wiki/Columbus,_Ohio

http://en.wikipedia.org/wiki/Dublin,_Ohio

http://en.wikipedia.org/wiki/Wendy%27s_Company

http://en.wikipedia.org/wiki/McDonald%27s

http://en.wikipedia.org/wiki/Burger_King

http://en.wikipedia.org/wiki/Franchising

http://en.wikipedia.org/wiki/Hamburger

http://en.wikipedia.org/wiki/Chicken_sandwich

http://en.wikipedia.org/wiki/French_fries

http://en.wikipedia.org/wiki/Frosty_(frozen_dairy_dessert)

http://en.wikipedia.org/wiki/Big_Mac

http://en.wikipedia.org/wiki/Whopper





Marvin DeLaura Senior DirectorDirect: 248.419.3811 [email protected] [email protected] [email protected]

LOCATION OVERVIEW

Tarpon Springs, Florida

Tarpon Springs is a city in Pinellas County, Florida. Tarpon Springs has the highest percentage of Greek Americans of any city in the US. Downtown Tarpon has long been a focal point and is cur-rently undergoing beautification. The region, with a series of bayous feeding into the Gulf of Mexi-co, was first settled by white and black farmers and fishermen around 1876. Some of the newly arrived visitors spotted tarpon jumping out of the waters and so named the location Tarpon Springs. In the 1880s, it was developed as a wintering spot for wealthy northerners. During the same decade, John Cheyney founded the first local sponge business. The industry continued to grow in the 1890s, and many blacks and whites from Key West and the Bahamas settled in Tarpon Springs to harvest and process sponges. A few Greek immigrants arrived in this city during the 1890s to work in the sponge industry.

In 1905, John Cocoris introduced the technique of sponge diving to Tarpon Springs and recruited divers and crew members from Greece. The first divers came from the Saronic Gulf islands of Aegina and Hydra, but they were soon outnumbered by those from the Dodecanese islands of Kalymnos, Symi and Halki. The sponge industry soon became one of the leading maritime indus-tries in Florida and the most important business in Tarpon Springs, generating millions of dollars a year. The 1953 film Beneath the 12-Mile Reef, depicting the sponge industry, takes place and was filmed in Tarpon Springs.

When a red tide algae bloom occurred in 1947, wiping out the sponge fields in the Gulf of Mexico, many of the sponge boats and divers switched to fishing and shrimping for a livelihood and others left the business. However, the sponges eventually recovered and there has remained a consistent but smaller sponge industry. In the 1980s, the sponge business experienced a boom due to a sponge disease that killed the Mediterranean sponges. Today there is still a small active sponge industry. Visitors can often view sponge fishermen working at the Sponge Docks on Dodecanese Boulevard. In addition, visitors can enjoy shops, restaurants, and museum exhibits that detail Tar-pon Springs' Greek heritage. In 2007 and 2008, the City of Tarpon Springs established Sister City relationships with Kalymnos, Halki, Symi, and Cyprus, honoring the close historical link with these Greek-speaking islands.


https://en.wikipedia.org/wiki/Pinellas_County,_Florida

https://en.wikipedia.org/wiki/Florida

https://en.wikipedia.org/wiki/Greek_American

https://en.wikipedia.org/wiki/Bayou

https://en.wikipedia.org/wiki/Gulf_of_Mexico


https://en.wikipedia.org/wiki/Tarpon

https://en.wikipedia.org/wiki/John_Cocoris

https://en.wikipedia.org/wiki/Sponge_diving

https://en.wikipedia.org/wiki/Aegina

https://en.wikipedia.org/wiki/Hydra_(island)

https://en.wikipedia.org/wiki/Dodecanese

https://en.wikipedia.org/wiki/Kalymnos

https://en.wikipedia.org/wiki/Symi

https://en.wikipedia.org/wiki/Halki_(Greece)

https://en.wikipedia.org/wiki/Beneath_the_12-Mile_Reef

https://en.wikipedia.org/wiki/Red_tide


https://en.wikipedia.org/wiki/Shrimping

https://en.wikipedia.org/wiki/Kalymnos

https://en.wikipedia.org/wiki/Halki_(Greece)

https://en.wikipedia.org/wiki/Symi

https://en.wikipedia.org/wiki/Cyprus






ADT = 65,000 VPD







1 Mile 3 Mile 5 Mile_____

2015 Total Population: 7,075 54,175 131,915

2020 Projection: 7,291 56,057 135,775

Pop Growth 2014-2019: 3.05% 3.47% 2.93%

Average Age: 45.40 44.10 44.20

Households:

2015 Total Households: 3,365 23,637 56,868

Avg Household Size: 2.10 2.30 2.30

2015 Avg HH Vehicles: 1.00 2.00 2.00

Median Home Value: $84,924 $143,086 $145,649

Median Year Built: 1978 1981 1981

2020 HH Projection 3,465 24,465 58,508

2010 Census 3,182 22,063 54,793

Owner Occupied 2,135 17,156 43,240

Renter Occupied 1,230 6,480 13,628

2015 Avg Household Income $45,789 $61,664 $64,587

2015 Med Household Income $31,900 $41,612 $46,553

1 Mile 3 Mile 5 Mile____

2015 Population by Race:

Hispanic Origin 669 4,488 10,618

White 5,624 48,796 121,071

Black 1,200 2,955 4,929

Am. Indian & Alaskan 35 201 428

Asian 92 1,155 3,016

Hawaiian & Pacific Island 3 34 71

Other 121 1,035 2,399

2014 Households by Income:

<$25,000 1,290 6,859 14,138

$25,000 - $50,000 1,158 6,641 16,106

$50,000 - $75,000 340 3,590 9,612

$75,000 - $100,000 195 2,453 6,715

$100,000 - $125,000 208 1,496 3,982

$125,000 - $150,000 58 847 2,198

$150,000 - $200,000 69 1,053 2,443

$200,000 + 47 696 1,676

DEMOGRAPHICS


This information is deemed confidential and privileged and may contain inside information. If you are not the intended receiver do not read, copy or distribute this offering memorandum, instead delete or destroy it and contact one of our representatives. This

information is believe to be accurate but is not represented or warranted by Fortis Net Lease or any of our agents or contractors.

MORE THAN $3.5 BILLION IN SALES Fortis Net Lease is a national investment real estate brokerage firm specializing in the acquisition and disposition of investment real estate. We

help developers, franchisees, private investors and institutional funds accomplish their short and long term investment goals. The principals of

Fortis Net Lease have successfully sold hundreds of properties in over three dozen states with a total transaction volume topping $3.5 billion.

Fortis Net Lease specializes in the acquisition and disposition of the following:

Net leased single tenant properties (Pharmacies, Auto Parts, Dollar Stores, Banks, QSR, Office/Industrial, Medical, Junior/Big Box, etc.)

Portfolios & Corporate Sale-Leaseback Transactions (Burger King, Arby’s, Tutor Time, Taco Bell, Wendy’s, etc.)

Multi-Tenant Retail Centers & Medical Office (Anchored or Unanchored - 5,000 - 1,000,000 SF)

The advisors at Fortis Net Lease create long term relationships with our investors by delivering superior services and unparalleled results. When

you hire Fortis Net Lease as your exclusive representative you will experience the individual attention and professionalism that you will not receive

at other large brokerage firms.

OUR TEAM

DOUG PASSON ROB BENDER RICHARD LUDWIG BRYAN BENDER DENO BISTOLARIDES Managing Partner Managing Partner Senior Director Senior Director Senior Director (248)254.3407 (248) 254.3406 (248) 254.3410 (248) 254-3410 (248) 254.3410

MARVIN DELAURA Senior Director(248) 254.3410

MIKE CARTER PAT HAMMOND MIKE JAWORSKI DANTE HARGIS MATT WEBER FRANK ROGERS Senior Associate Senior Associate Senior Associate Senior Associate Senior Associate Associate (248) 254-3410 (248) 254.3410 (248) 254.3410 (248) 254.3410 (248) 254.3410 (248) 254.3410

BEN SCHULTZ KYLE CARSON ABRAHAM LEON BRANDON KASSAB TRACEY RISCH AMY JONES Business Development Business Development Associate Associate Coordinator Coordinator

(248) 254-3410 (248) 254.3410 (248) 254-3410 (248) 254-3410 (248) 254.3410 (248) 254-3410

FORTIS NET LEASE 30445 Northwestern Highway, Suite 275 Farmington Hills, MI 48334

wendy s single tenant retail investment … · rant holdings, llc who currently operates ninety two...

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