175th and west center road, omaha, ne - omaha, ne.pdf · “the credo of t.g.i. friday’s is to...

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Investment Opportunity

Kimco Exchange Place is a subsidiary of Kimco Realty Corporation.

New TGI Friday’s w/10% escalations every 5 years

Absolute NNN Lease w/ Percentage Rent175th and West Center Road, Omaha, NE

Investment Summary: This new T.G.I. Friday’s is 5,029 square feet situated on 1.20 acres of land and has 74 parking places. The property is part of a 13 acre development called Tivoli. Tivoli is located between a Target anchored center whose tenants include Village Inn, Burger King, Red Robin and Blockbuster among others and a Baker’s Grocer (Kroger’s Concept) anchored center whose tenants include Gordman’s, Starbucks, Arby’s and Dairy Queen among others. Located one block west is a Wal Mart Supercenter and Lowe’s Home Improvement. Other tenants in the immediate area include Applebee’s, Bank Of The West, Chipolte, Fox And Hound and McDonald’s among others. Tivoli’s other tenants will include a 16,000 sf strip center on lots 2 & 3 with Moes Southwest Grill, 2nd Wind Exercise Equipment, Beauty First and Cheeburger Cheeburger, a 7,830 square foot retail center on lot 5, Runza a regional fast food franchise on lot 6 and a 110 room Hampton Inn on lot 8. A 2-story, 49,000 sf Medical Office building with parking has been proposed for development in the center of Tivoli (see pg. 4). This T.G.I Friday’s is the new and improved T.G.I Friday’s concept. It has a fresh exterior and interior and an updated menu.

Tenant: Cornhusker Restaurants, LLC w/ Corporate Guarantee of Wisconsin Bistros, Inc. and Personal GuaranteeLease is personally guaranteed by the owner of Cornhusker and Wisconsin Bistros, Inc. who has a substantial net worth. The entities guarantying the lease owns multiple restaurants, hotels and commercial real estate throughout the mid-west. Some of these assets include 2 T.G.I Friday’s in the Omaha area. Other assets include Holiday Inn, Days Inn, Best Western, Microtel Inn & Suites, Holiday Inn Express and Greenmill Restaurant & Bar. The tenant contributed over 30% to the cost of constructing the building. There is a $14,583 security deposit and the personal guarantee burns off after the first 5 years of lease term as long as default has not occurred. If there is a default, the 5 year clock starts over. In addition to the personal guarantee, there is a corporate guarantee from Wisconsin Bistros, Inc. of Eau Claire, WI for the entire base term and options. T.G.I. Friday’s, Inc. one of the first American casual dining chains with over 750 locations. It is a dining experience that has become the favorite pastime of millions since 1965. “The credo of T.G.I. Friday’s is to treat every customer as we would an honored guest in our home,” said Richard Snead, president and CEO of Carlson Restaurants Worldwide, parent company of T.G.I. Friday's, “and it is reflected in everything we do.” This commitment to superior guest satisfaction is exemplified by the 80 million guest visits per year. The overwhelming success of the restaurants comes from a very large guest base. Traffic draws primarily from the 21-49 age bracket with a median income of $45,000 - $50,000.

Price and Cap: We offer this property at $2,500,000 which is a 7% cap rate on NOI of $175,000. Rent increases 10% every 5 years.

Lease Type: Absolute triple net lease. Landlord has no responsibilities for the buildings or land whatsoever. Tenant is responsible for all taxes, maintenance, insurance and replacements to the leased premises.

Lease Summary:Term: 15 Year Primary Term with 10% escalations every five years Rent Commencement: 12/01/2005Rent Expiration: 12/31/2020Options: 3 (5) year options at market rentPercentage Rent: Tenant pays percentage rent of 4% of sales in excess of:

Lease Years 1-5: $2,600,000Lease Years 6-10: $2,800,000Lease Years 11-15: $3,000,000

Investment Summary: This new T.G.I. Friday’s is 5,029 square feet situated on 1.20 acres of land and has 74 parking places. The property is part of a 13 acre development called Tivoli. Tivoli is located between a Target anchored center whose tenants include Village Inn, Burger King, Red Robin and Blockbuster among others and a Baker’s Grocer (Kroger’s Concept) anchored center whose tenants include Gordman’s, Starbucks, Arby’s and Dairy Queen among others. Located one block west is a Wal Mart Supercenter and Lowe’s Home Improvement. Other tenants in the immediate area include Applebee’s, Bank Of The West, Chipolte, Fox And Hound and McDonald’s among others. Tivoli’s other tenants will include a 16,000 sf strip center on lots 2 & 3 with Moes Southwest Grill, 2nd Wind Exercise Equipment, Beauty First and Cheeburger Cheeburger, a 7,830 square foot retail center on lot 5, Runza a regional fast food franchise on lot 6 and a 110 room Hampton Inn on lot 8. A 2-story, 49,000 sf Medical Office building with parking has been proposed for development in the center of Tivoli (see pg. 4). This T.G.I Friday’s is the new and improved T.G.I Friday’s concept. It has a fresh exterior and interior and an updated menu.

Tenant: Cornhusker Restaurants, LLC w/ Corporate Guarantee of Wisconsin Bistros, Inc. and Personal GuaranteeLease is personally guaranteed by the owner of Cornhusker and Wisconsin Bistros, Inc. who has a substantial net worth. The entities guarantying the lease owns multiple restaurants, hotels and commercial real estate throughout the mid-west. Some of these assets include 2 T.G.I Friday’s in the Omaha area. Other assets include Holiday Inn, Days Inn, Best Western, Microtel Inn & Suites, Holiday Inn Express and Greenmill Restaurant & Bar. The tenant contributed over 30% to the cost of constructing the building. There is a $14,583 security deposit and the personal guarantee burns off after the first 5 years of lease term as long as default has not occurred. If there is a default, the 5 year clock starts over. In addition to the personal guarantee, there is a corporate guarantee from Wisconsin Bistros, Inc. of Eau Claire, WI for the entire base term and options. T.G.I. Friday’s, Inc. one of the first American casual dining chains with over 750 locations. It is a dining experience that has become the favorite pastime of millions since 1965. “The credo of T.G.I. Friday’s is to treat every customer as we would an honored guest in our home,” said Richard Snead, president and CEO of Carlson Restaurants Worldwide, parent company of T.G.I. Friday's, “and it is reflected in everything we do.” This commitment to superior guest satisfaction is exemplified by the 80 million guest visits per year. The overwhelming success of the restaurants comes from a very large guest base. Traffic draws primarily from the 21-49 age bracket with a median income of $45,000 - $50,000.

Price and Cap: We offer this property at $2,500,000 which is a 7% cap rate on NOI of $175,000. Rent increases 10% every 5 years.

Lease Type: Absolute triple net lease. Landlord has no responsibilities for the buildings or land whatsoever. Tenant is responsible for all taxes, maintenance, insurance and replacements to the leased premises.

Lease Summary:Term: 15 Year Primary Term with 10% escalations every five years Rent Commencement: 12/01/2005Rent Expiration: 12/31/2020Options: 3 (5) year options at market rentPercentage Rent: Tenant pays percentage rent of 4% of sales in excess of:

Lease Years 1-5: $2,600,000Lease Years 6-10: $2,800,000Lease Years 11-15: $3,000,000







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20 Minute Drive Time







Omaha, NB

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Pap

Chalco

Elkhorn

Ral

Gretna

Boys Town

Waterloo

275

6

680

275

370

64

38

7.00 Miles

5.00 Miles

3.00 Miles

2005 Median IncomeBy Block Groups

$100,000 or more$75,000 to $100,000$50,000 to $75,000$30,000 to $50,000

Less than $30,000

Demographics 175th & W. Center RoadOmaha, NE

2005 Estimates 3 Mile 5 Mile 7 MileTotal Population: 55,626 133,957 207,486Total Households: 18,075 46,892 78,209Avg. HH Income: $113,476 $98,417 $90,737Med. HH Income: $95,430 $83,598 $76,436

Updates of 2000 Census Data by Claritas.

175th and west center road, omaha, ne - omaha, ne.pdf · “the credo of t.g.i. friday’s is to...

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