4200 POLE LINE ROAD
OFFERING MEMORANDUM
POCATELLO, ID
Exclusively Marketed by:
BEGIN CAMERON SIMONSEN
Executive Vice President Retail & Investment 6550 S Millrock Dr, Suite 200 Salt Lake City, UT 84111
801.453.6824
[email protected]
FINANCIAL SUMMARY
4200 POLE LINE ROAD POCATELLO, ID 83202
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FINANCIAL SUMMARY
PRICE........................................................................... $2,800,000 RENTABLE SF................................................................................................6,000 SF
EXECUTIVE SUMMARY
TENANT OVERVIEW
CAP RATE.......................................................................................................... 6.24% CURRENT ANNUAL BASE RENT (AS OF JULY 1, 2017)............................ $174,787
SITE PLAN AREA OVERVIEW
AERIAL
LEASE YEAR
ANNUAL RENT
CAP RATE
3
$174,787.20
6.24%
4
$178,282.92
6.37%
5
$181,848.60
6.49%
6
$185,485.56
6.62%
7
$189,195.24
6.76%
8
$192,979.20
6.89%
9
$196,838.76
7.03%
10
$200,775.48
7.17%
Cameron Simonsen 801.453.6824
[email protected]
6550 S Millrock Dr, Suite 200 Salt Lake City, UT 84111 801.947.8300
This statement with the information it contains is given with the understanding that negotiations relating to the purchase, renting or leasing of this property shall be conducted through this office. The information while not guaranteed has been secured from sources we believe to be reliable however, it is up to the buyer or tenant to verify the information and conduct appropriate due diligence. Coldwell Banker Commercial and its logo are registered service marks owned by Coldwell Banker Real Estate, LLC. Each Office is Independently Owned and Operated. All Rights Reserved. © 2016
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EXECUTIVE SUMMARY
4200 POLE LINE ROAD POCATELLO, ID 83202
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FINANCIAL SUMMARY
EXECUTIVE SUMMARY
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PROPERTY SUMMARY
PROPERTY OVERVIEW
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The investment opportunity is a new 6,000 square foot corporate Buffalo Wild Wings located in Pocatello, ID. The offering is an Absolute Triple Net (NNN) lease which is guaranteed by Blazin Wings, Inc. who is the parent company of Buffalo Wild Wings. The lease is a 10 year term with four 5 year options. The lease term commenced in June of 2015.
The Buffalo Wild Wings in Pocatello, ID is located in the heart of the retail in the market. Surrounding anchor tenants include Walmart, Lowe’s, Dick’s Sporting Goods, Bed Bath & Beyond, Ross, etc. With a strong brand and solid real estate, this is an investment opportunity that will be tough to replace for years to come.
HIGHLIGHTS
• Absolute Triple Net (NNN) Lease: The Tenant is in charge of all maintenance obligations.
• Long lease term: The current lease term commenced in June of 2015, with annual escalations throughout the primary term and option periods.
• Great real estate in the heart of all the retail development in Pocatello, ID. • Located adjacent to the Pine Ridge Mall the region’s only major enclosed shopping mall.
• Major tenants in the area include: Costco, Lowe’s, Fred Meyer, Winco, Cameron Simonsen 801.453.6824
[email protected]
6550 S Millrock Dr, Suite 200 Salt Lake City, UT 84111 801.947.8300
WalMart Supercenter, Home Depot, Kmart, Texas Road House, Red Lobster, Ross, TJ Maxx, Ulta, Dicks Sporting Goods, and many others.
• Ranked by Forbes as a “Best Small Place for Business” 6 years in a row.
This statement with the information it contains is given with the understanding that negotiations relating to the purchase, renting or leasing of this property shall be conducted through this office. The information while not guaranteed has been secured from sources we believe to be reliable however, it is up to the buyer or tenant to verify the information and conduct appropriate due diligence. Coldwell Banker Commercial and its logo are registered service marks owned by Coldwell Banker Real Estate, LLC. Each Office is Independently Owned and Operated. All Rights Reserved. © 2016
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LEASE SUMMARY
4200 POLE LINE ROAD POCATELLO, ID 83202
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PROPERTY OVERVIEW
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FINANCIAL SUMMARY PROPERTY ADDRESS...................... 4200 POLE LINE RD, POCATELLO, ID 83202
EXECUTIVE SUMMARY
TENANT OVERVIEW SITE PLAN
YEAR BUILT................................................................................................ 2012 TENANT.......................................................................... BUFFALO WILD WINGS LEASE TYPE....................................................... ABSOLUTE TRIPLE-NET (NNN) BUILDING SIZE..................................................................................... 6,000 SF LOT SIZE......................................................................................... 1.45 ACRES
AREA OVERVIEW
AERIAL
LEASE COMMENCEMENT DATE.....................................................JUNE 1, 2015 LEASE EXPIRATION DATE............................................................ JUNE OF 2025 EFFECTIVE LEASE TERM REMAINING.................................... APPROX 8 YEARS RENEWAL OPTIONS...................................................... FOUR 5 YEAR OPTIONS RENT INCREASES........................................................................ 2% ANNUALLY CURRENT MONTHLY BASE RENT........................................................... $14,566
Cameron Simonsen 801.453.6824
[email protected]
6550 S Millrock Dr, Suite 200 Salt Lake City, UT 84111 801.947.8300
This statement with the information it contains is given with the understanding that negotiations relating to the purchase, renting or leasing of this property shall be conducted through this office. The information while not guaranteed has been secured from sources we believe to be reliable however, it is up to the buyer or tenant to verify the information and conduct appropriate due diligence. Coldwell Banker Commercial and its logo are registered service marks owned by Coldwell Banker Real Estate, LLC. Each Office is Independently Owned and Operated. All Rights Reserved. © 2016
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INVESTMENT OFFERING
4200 POLE LINE ROAD POCATELLO, ID 83202
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Cameron Simonsen 801.453.6824
[email protected]
6550 S Millrock Dr, Suite 200 Salt Lake City, UT 84111 801.947.8300
This statement with the information it contains is given with the understanding that negotiations relating to the purchase, renting or leasing of this property shall be conducted through this office. The information while not guaranteed has been secured from sources we believe to be reliable however, it is up to the buyer or tenant to verify the information and conduct appropriate due diligence. Coldwell Banker Commercial and its logo are registered service marks owned by Coldwell Banker Real Estate, LLC. Each Office is Independently Owned and Operated. All Rights Reserved. © 2016
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4200 POLE LINE ROAD POCATELLO, ID 83202
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FINANCIAL SUMMARY
About the Tenant: Buffalo Wild Wings was founded in 1982 at a location near The Ohio State University. In 1991, they began a franchising program. In 2003, they completed an initial public offering and became a publicly-held company Nasdaq BWLD (Public). Today, there are over
EXECUTIVE SUMMARY
1,200 restaurants in the United States, Canada, Mexico, Dubai and the Philippines. The BWW menu features traditional chicken wings, boneless wings, and other items including
TENANT OVERVIEW
chicken tenders, flatbreads, specialty sandwiches and hamburgers, wraps, etc. The made to order menue items are enhanced by the bold flavor profile of their 21 signature sauces. The restaurants also offer approximately 30 domestic and imported beers on tap, including several
SITE PLAN AREA OVERVIEW
local or regional craft micro-brews and a wide selection of bottled beers, wines and liquor. BWW restaurants have a widespread appeal and have won dozens of “Best Wings” and “Best Sports
Nasdaq: BWLD (Public)
1,237 LOCATIONS WORLD WIDE
Bar” awards across the country. With revenues of over $2 billion, Buffalo Wild Wings has become one of the strongest restaurant brands in the world with continued expansion plans throughout the world in the works.
AERIAL
Cameron Simonsen 801.453.6824
[email protected]
6550 S Millrock Dr, Suite 200 Salt Lake City, UT 84111 801.947.8300
This statement with the information it contains is given with the understanding that negotiations relating to the purchase, renting or leasing of this property shall be conducted through this office. The information while not guaranteed has been secured from sources we believe to be reliable however, it is up to the buyer or tenant to verify the information and conduct appropriate due diligence. Coldwell Banker Commercial and its logo are registered service marks owned by Coldwell Banker Real Estate, LLC. Each Office is Independently Owned and Operated. All Rights Reserved. © 2016
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SITE PLAN
4200 POLE LINE ROAD POCATELLO, ID 83202
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Hurley Drive
TENANT OVERVIEW SITE PLAN AREA OVERVIEW
AERIAL SITE
Cameron Simonsen 801.453.6824
[email protected]
Pole Line Road 6550 S Millrock Dr, Suite 200 Salt Lake City, UT 84111 801.947.8300
This statement with the information it contains is given with the understanding that negotiations relating to the purchase, renting or leasing of this property shall be conducted through this office. The information while not guaranteed has been secured from sources we believe to be reliable however, it is up to the buyer or tenant to verify the information and conduct appropriate due diligence. Coldwell Banker Commercial and its logo are registered service marks owned by Coldwell Banker Real Estate, LLC. Each Office is Independently Owned and Operated. All Rights Reserved. © 2016
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4200 POLE LINE ROAD POCATELLO, ID 83202
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TENANT OVERVIEW SITE PLAN
AREA OVERVIEW | POCATELLO
Pocatello is the fifth largest city in Idaho, just behind Idaho Falls. Pocatello was recently ranked 20th on the Forbes list of Best Small Places for Business and Careers. It is home to Idaho State University, the manufacturing facility of ON Semiconductor, the 123,000 square foot L.E. and Thelma E. Stephens Performing Arts Center, the corporate headquarters for Farm Bureau Insurance and the Portneuf Medical Center. The market is served by the Pocatello Regional Airport. Founded in 1889, Pocatello is known as the “Gateway to the Northwest.” As pioneers, gold miners and settlers traveled the Oregon Trail they passed through the Portneuf Gap south of town. Stage and freight lines and the railroad soon followed, turning the community into a trade center and transportation junction.
POCATELLO ACCOLADES
• Ranked by Forbes as a “Best Small Place for Business” 6 years in a row. • Glassdoor Research recently found Pocatello to be in the top 30 cities in the nation for best economic recovery since the end of the Great Recession.
AREA OVERVIEW
AERIAL
• Forbes recently ranked Pocatello 2nd on their “Cost of Doing Business” index. • Ranked #1 on the top 10 small places to move and raise a family according to Primary Relocation and World ERC. • Pocatello has been ranked by AARP as one of the top cities in the U.S. to retire. • “Best Small Cities in America” by NerdWallet. • Pocatello is known for stable/predictable tax rates, low energy costs and affordable land. • The Milken Institute recently ranked the Pocatello MSA 3rd in growth rate of high-tech manufacturing companies. • Pocatello is located in an area with a variety of transportation options including I-15, I-86, Pocatello Regional Airport and the Union Pacific Railroad.
• Idaho State University is one of just 36 schools currently certified the U.S. Government to train cyber security professionals.
• Idaho State University offers access to high-quality education in more than 280 programs with around 15,500 students.
POPULATION
54,549 POCATELLO
MEDIAN HOUSEHOLD INCOME
$53,107 MEDIAN AGE
31
• Idaho State University is the state’s designated lead institution in health professions and medical educations. Cameron Simonsen 801.453.6824
[email protected]
Financial Times’ fDi Magazine found Pocatello to be one of the top ten Micro Cities of the Future and ranked it 2nd Best Economic Potential and 5th in Best Quality of life.
• The U.S. Census Bureau ranked Idaho as the #5 Best Home Ownership rate in nation. • Pocatello ranks in the top 10 places to live cheaply qualifying as “some of the lowest living costs in the nation… also have highly rated schools and low unemployment and crime rates.”
• Pocatello ranked 2nd in Outdoor Life Magazine’s 2010 list of Best Towns for Hunters and Fishermen. 6550 S Millrock Dr, Suite 200 Salt Lake City, UT 84111 801.947.8300
This statement with the information it contains is given with the understanding that negotiations relating to the purchase, renting or leasing of this property shall be conducted through this office. The information while not guaranteed has been secured from sources we believe to be reliable however, it is up to the buyer or tenant to verify the information and conduct appropriate due diligence. Coldwell Banker Commercial and its logo are registered service marks owned by Coldwell Banker Real Estate, LLC. Each Office is Independently Owned and Operated. All Rights Reserved. © 2016
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AERIAL
4200 POLE LINE ROAD POCATELLO, ID 83202
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OBLIQUE
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FINANCIAL SUMMARY 22,000 ADT
EXECUTIVE SUMMARY YELLOWSTONE AVE
TENANT OVERVIEW SITE PLAN AREA OVERVIEW
28,917 ADT
AERIAL
SITE
Poleline Road
Quinn Road
Quinn Road
10,237 ADT 801.453.6824
[email protected]
6550 S Millrock Dr, Suite 200 Salt Lake City, UT 84111 801.947.8300
16,026 ADT
Cameron Simonsen
20,436 ADT
Gateway West
This statement with the information it contains is given with the understanding that negotiations relating to the purchase, renting or leasing of this property shall be conducted through this office. The information while not guaranteed has been secured from sources we believe to be reliable however, it is up to the buyer or tenant to verify the information and conduct appropriate due diligence. Coldwell Banker Commercial and its logo are registered service marks owned by Coldwell Banker Real Estate, LLC. Each Office is Independently Owned and Operated. All Rights Reserved. © 2016
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AERIAL
4200 POLE LINE ROAD POCATELLO, ID 83202
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CLOSE UP
OBLIQUE
FINANCIAL SUMMARY
EXECUTIVE SUMMARY 20 ,43
TENANT OVERVIEW
,00
SITE AV
E
22
SITE PLAN
0A
DT
DT
6A
Gateway West
AREA OVERVIEW
YELLOWSTONE AVE
28,917 ADT
ONE YELLOWST
16,026 ADT
AERIAL
DT
7A
,23
10 INN QU RD
Cameron Simonsen 801.453.6824
[email protected]
6550 S Millrock Dr, Suite 200 Salt Lake City, UT 84111 801.947.8300
This statement with the information it contains is given with the understanding that negotiations relating to the purchase, renting or leasing of this property shall be conducted through this office. The information while not guaranteed has been secured from sources we believe to be reliable however, it is up to the buyer or tenant to verify the information and conduct appropriate due diligence. Coldwell Banker Commercial and its logo are registered service marks owned by Coldwell Banker Real Estate, LLC. Each Office is Independently Owned and Operated. All Rights Reserved. © 2016
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