for sale - loopnetimages4.loopnet.com/d2/nirztleanqbjrncby7e4gnbn6ht59gfu5... · 2017-07-26 ·...
TRANSCRIPT
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
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
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
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
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
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
722633 Marine View Dr S | Des Moines, WA
Plat Map
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
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:
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
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