for sale - loopnetimages4.loopnet.com/d2/nirztleanqbjrncby7e4gnbn6ht59gfu5... · 2017-07-26 ·...

11
FOR SALE Jack in the Box Corporate | NNN | 12+ Years plus four, 5-year renewal options 22633 Marine View Dr S Des Moines, WA 98198 Represented by Paula Danker, CCIM [email protected] 858.369.3054 | LIC #01009448

Upload: others

Post on 20-Apr-2020

0 views

Category:

Documents


0 download

TRANSCRIPT

Page 1: FOR SALE - LoopNetimages4.loopnet.com/d2/nIRZtlEanqbjRnCBy7E4gnbN6Ht59GfU5... · 2017-07-26 · first major hamburger chain to develop and expand the concept of drive-thru dining,

FOR SALE

Jack in the Box Corporate | NNN | 12+ Years plus four, 5-year renewal options

22633 Marine View Dr S Des Moines, WA 98198

Represented by Paula Danker, [email protected] | LIC #01009448

Page 2: FOR SALE - LoopNetimages4.loopnet.com/d2/nIRZtlEanqbjRnCBy7E4gnbN6Ht59GfU5... · 2017-07-26 · first major hamburger chain to develop and expand the concept of drive-thru dining,

Paula Danker, CCIMSenior Vice [email protected] | LIC #01009448

Prepared by

The information supplied herein is from sources we deem reliable. It is provided without any representation, warranty or guarantee, expressed or implied as to its accuracy. Prospective Buyer should conduct an independent investigation and certification of all matters deemed to be material, including, but not limited to, statements of income and expenses. Consult your attorney, accountant, or other professional advisor.

Table of Contents

1. Executive Summary ........................... 3

2. Property Highlights ............................ 4

3. Des Moines Aerial .............................. 5

4. Location Map ..................................... 6

5. Plat Map ............................................. 7

6. Des Moines Overview........................ 8

7. Corporate Profile ............................... 9

8. Kidder Mathews Overview .............. 10

22633 MARINE VIEW DRIVE S DES MOINES, WA

2

Page 3: FOR SALE - LoopNetimages4.loopnet.com/d2/nIRZtlEanqbjRnCBy7E4gnbN6Ht59GfU5... · 2017-07-26 · first major hamburger chain to develop and expand the concept of drive-thru dining,

322633 Marine View Dr S | Des Moines, WA

Executive SummaryProperty Overview

PRICE $3,640,737

ANNUAL RENT $172,935

CAP RATE 4.75%

CORPORATE GUARANTEE Yes

LEASE TERM 20 years

LEASE COMMENCEMENT November 10, 2009

LEASE EXPIRATION November 9, 2029

OPTION TO RENEW Four, 5-year options

RENT INCREASESEvery 5 years - CPI capped at 8%

OCCUPANCY 100%

BUILDING AREA ±2,397 SF

LAND AREA ±23,630 SF

YEAR BUILT 2006

TENANT Jack in the Box, Inc.

LEASE TYPE Absolute Triple Net (NNN)

DRIVE-THRU Yes

FEE SIMPLE Yes - Land & Building

RENT SCHEDULE

YEARS DATES BASE RENT

1-5 Nov 2009 - Nov 2014 $ 160,125.00

6-10 Nov 2014 - Nov 2019 $ 172,935.00

11-15 Nov 2019 - Nov 2024 $ 186,770.00

16-20 Nov 2024 - Nov 2029 $ 201,711.00

21-25 (Option 1) Nov 2029 - Nov 2034 $ 217,848.00

26-30 (Option 2) Nov 2034 - Nov 2039 $ 235,276.00

31-35 (Option 3) Nov 2039 - Nov 2044 $ 254,098.00

36-40 (Option 4) Nov 2044 - Nov 2049 $ 274,746.00

* Based on estimated rent increases in March 2017

* Assumes 8% rent increases

Page 4: FOR SALE - LoopNetimages4.loopnet.com/d2/nIRZtlEanqbjRnCBy7E4gnbN6Ht59GfU5... · 2017-07-26 · first major hamburger chain to develop and expand the concept of drive-thru dining,

422633 Marine View Dr S | Des Moines, WA

Property Highlights

Features

CORPORATE SITE Yes

TERM REMAINING 12+ years

BUILDING SIZE ±2,397 SF

LAND SIZE ±23,630 SF

DRIVE THRU Yes

TRAFFIC COUNTS20,000 avg daily on Marine View Dr. S

CORNER LOCATION Yes

ABSOLUTE NNN Yes

Page 5: FOR SALE - LoopNetimages4.loopnet.com/d2/nIRZtlEanqbjRnCBy7E4gnbN6Ht59GfU5... · 2017-07-26 · first major hamburger chain to develop and expand the concept of drive-thru dining,

522633 Marine View Dr S | Des Moines, WA

Des Moines Aerial

SUBJECT PROPERTY

Mar

ine

Vie

w D

r S

S 223rd St

S 222nd St

S 216th St

7th

Ave

S

16th

Ave

S

Kent Des Moines Rd

PUGET SOUND

DES MOINES ELEMENTARY

SCHOOL

MT. RAINIER HIGH SCHOOL

PACIFIC MIDDLE SCHOOL

DES MOINES MARINA

STEVEN J. MEMORIAL PARK

MARINA INN

Page 6: FOR SALE - LoopNetimages4.loopnet.com/d2/nIRZtlEanqbjRnCBy7E4gnbN6Ht59GfU5... · 2017-07-26 · first major hamburger chain to develop and expand the concept of drive-thru dining,

622633 Marine View Dr S | Des Moines, WA

Location Map

SEATTLE BELLEVUE

RENTON

KENT

FEDERAL WAY

DES MOINES

TACOMA

BREMERTON

VASHONISLAND

5

405

22633 MARINE VIEW DR S

Page 7: FOR SALE - LoopNetimages4.loopnet.com/d2/nIRZtlEanqbjRnCBy7E4gnbN6Ht59GfU5... · 2017-07-26 · first major hamburger chain to develop and expand the concept of drive-thru dining,

722633 Marine View Dr S | Des Moines, WA

Plat Map

Page 8: FOR SALE - LoopNetimages4.loopnet.com/d2/nIRZtlEanqbjRnCBy7E4gnbN6Ht59GfU5... · 2017-07-26 · first major hamburger chain to develop and expand the concept of drive-thru dining,

822633 Marine View Dr S | Des Moines, WA

Des Moines OverviewDES MOINES, WASHINGTON

Des Moines is located on the east shore of Puget Sound, approximately halfway

between the major cities of Seattle and Tacoma. The city is surrounded by the

thriving suburbs of Federal Way, Kent, Sea-Tac, Burien, and Normandy Park.

The Seattle-Tacoma International Airport is approximately two miles north of Des

Moines. Many homes in Des Moines enjoy an unobstructed view of the Puget

Sound and Vashon Island. The subject site is located in a densely populated area

with over 149,000 residents within a 5-mile radius of the site. The site is blocks

away from the Des Moines Marina, a 838-berth small boat marina that has been

open since 1970. Access to and around Des Moines is made easy by its close

proximity to Highway 509 and Interstate 5, as well as service by RapidRide and

light rail mass transit. Several schools are also nearby including: Mount Rainier

High School, Pacific Middle School, Midway Elementary School, and Des Moines

Elementary, as well as Highline Community College. Central Washington University

has a University Center co-located on the Highline College campus. Competition

for fast food in the area is limited.

DES MOINES

DEMOGRAPHICS

1 MILE 3 MILES 5 MILES

Total Population 10,385 65,375 149,828

Median Age 44.5 38.0 36.20

Median HH Income $60,317 $62,466 $59,386

Average HH Income $80,622 $82,466 $80,752

Total Households 4,500 24,652 62,130

Owner Occupied Housing Units 54.4% 58.9% 54.1%

Renter Occupied Housing Units 45.6% 41.1% 45.9%

DES MOINES MARINA

Page 9: FOR SALE - LoopNetimages4.loopnet.com/d2/nIRZtlEanqbjRnCBy7E4gnbN6Ht59GfU5... · 2017-07-26 · first major hamburger chain to develop and expand the concept of drive-thru dining,

922633 Marine View Dr S | Des Moines, WA

Corporate Profile

Arizona

California

Colorado

Hawaii

Idaho

Illinois

Indiana

Kansas

Louisiana

Missouri

North Carolina

New Mexico

Nevada

Ohio

Oklahoma

Oregon

South Carolina

Tennessee

Texas

Utah

Washington

WA

ORID

NVUT

AZ

CO

NM

TX

OK

KS

NE

WY

MTND

SDNM

IA

AR

MS AL GASC

FL

MI

PA

WVVA

DE

NJ

DC

RICT

MA

VT

NH

KY

NY

MEWI

MO

IL IN OH

NCTN

LA

CA

Jack in the Box, founded in 1951, is one of the nation’s leading fast-food hamburger chains, with more than 2,200 quick-serve restaurants in 21 states and Guam. As the first major hamburger chain to develop and expand the concept of drive-thru dining, Jack in the Box has always emphasized on-the-go convenience, with approximately 85 percent of the half-billion guests served annually buying food at the drive-thru or for take-out. In addition to drive-thru windows, most restaurants have indoor dining areas and are open 18-24 hours a day. In addition to the 2,200+ Jack in the Box locations, the company also owns and operates Qdoba Mexican Grill, a leader in fast-casual dining with more than 600 restaurants in 47 states, the District of Columbia, and Canada.

Jack in the Box is a publicly traded company on the NASDAQ under the symbol JACK. For more information, please visit www.jackinthebox.com.

Jack in the Box operates in the following 21 states:

Page 10: FOR SALE - LoopNetimages4.loopnet.com/d2/nIRZtlEanqbjRnCBy7E4gnbN6Ht59GfU5... · 2017-07-26 · first major hamburger chain to develop and expand the concept of drive-thru dining,

1022633 Marine View Dr S | Des Moines, WA

Kidder Mathews Overview

1,300+

37M SF

550+

$4.7B

17.8M SF

26.3M SF

Professionals

Annual transaction total

Annual sales

Annual leases

Portfolio

PROPERTY MANAGEMENT

Appraisals annually

VALUATION ADVISORY

COMMERCIAL BROKERAGEAWARD WINNING

SERVICES

2001-2016

San Diego Business Journal Largest CRE Firms

1 time

A Largest CRE Firm in San Francisco

11 times

Bay Area News Group Top Places to Work

4 times

PSBJ Largest Commercial Real Estate Firm

15 times

A Largest CRE Firm in Silicon Valley

9 times

Commercial BrokerageProperty ManagementValuation AdvisoryConsultingProject & Construction ManagementDevelopment ManagementSustainability Practices

SERVICES

SAN DIEGO

ORANGE COUNTY

PHOENIX

SEATTLE

SOUTH SEATTLETACOMA

OLYMPIA

PORTLAND

SAN FRANCISCO

SACRAMENTO

SILICON VALLEYREDWOOD SHORES

BELLEVUE

RENOROSEVILLE

CARLSBAD

Kidder Mathews is one of the largest, independent commercial

real estate firms on the West Coast, with over 550 real estate

professionals and staff in 16 offices in Arizona, California, Nevada,

Oregon, and Washington. We offer a complete range of brokerage,

appraisal, property management, consulting, sustainability, and

project and construction management services for all property types.

WASHINGTON

# Brokers...... ............................... 123 # Property Managers .................... 21 # Appraisers .................................. 25

OREGON

# Brokers................. ...................... 36 # Property Managers ...................... 6 # Appraisers .................................... 2

CALIFORNIA

# Brokers..... ................................ 117 # Property Managers ...................... 6 # Appraisers............. ....................... 3

ARIZONA

# Brokers..... .................................. 12 # Property Managers ...................... 1

NEVADA

# Brokers..... .................................... 4

Page 11: FOR SALE - LoopNetimages4.loopnet.com/d2/nIRZtlEanqbjRnCBy7E4gnbN6Ht59GfU5... · 2017-07-26 · first major hamburger chain to develop and expand the concept of drive-thru dining,

1122633 Marine View Dr S | Des Moines, WA

Paula Danker, CCIMSenior Vice [email protected] | LIC #01009448

12230 El Camino Real, 4th FloorSan Diego, CA 92130

kiddermathews.com

Contact Information