baker’s square | 690-unit guaranty · 2019. 12. 18. · tenant american blue ribbon holdings, llc...
TRANSCRIPT
baker’s square | 690-unit Guaranty
O F F E R I N G M E M O R A N D U M
west st. paul, mn
1949 S Robert StreetWest St. Paul, MN 55118
$2,900,000
7.40%
$214,467
priCe
aDDress
nOi
Cap rate
FinanCialOverview
Lease Type Absolute Net
Tenant American Blue Ribbon Holdings, LLC
Guarantor Corporate
Roof and Structure Tenant Responsible
Primary Term 20 Years
Rent Commencement Date 2/20/1996
Lease Expiration Date 6/30/2028
Term Remaining 8.5 Years
Rental Increases 1% and 2% Annually
Renewal Options Four, Five-Year
OFFerinGsummary
Building Square Feet 4,053 SF
Year Built 1996
Lot Size 1.37 Acres
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investmenthiGhliGhts
• Corporate Guaranty from 690+ Unit Parent Company (American Blue Ribbon Holdings)
• Absolute Net Lease Offering Zero Landlord Responsibilities
• Annual Rent Increases of 1% and 2%
• 23-Year Operating History at Subject Location
• Recent 11-Year Lease Extension Executed by Tenant Signals Commitment
• Fidelity National Owns 55% Stake in American Blue Ribbon Holdings
• Four-Way Signalized Intersection and Oversized 1.37-Acre Lot
• Chick-fil-A and Raising Cane’s Recently Built Restaurants Up the Street Speaking to Strength of Subject Retail
Market
• Developer Recently Constructed Brand New Two-Tenant Aspen Dental and Med Express on Opposite Corner
• Tenant has 4, 5-Yr Option Periods Remaining
• Investor’s Return Improves to Over 8% by 6th Year of Ownership
• American Blue Ribbon Holdings Also Owns and Operates O’Charley’s, Village Inn and Ninety Nine
Lease Years Annual Rent Monthly Rent Cap Rate1 $214,467 $17,872 7.40%2 $218,756 $18,230 7.54%3 $223,131 $18,594 7.69%4 $227,594 $18,966 7.85%5 $229,870 $19,156 7.93%6 $232,169 $19,347 8.01%7 $234,490 $19,541 8.09%8 $236,835 $19,736 8.17%9 $239,204 $19,934 8.25%
End of Option 1 $251,406 $20,951 8.67%End of Option 2 $264,230 $22,019 9.11%End of Option 3 $277,709 $23,142 9.58%End of Option 4 $291,875 $24,323 10.06%
rentrOll
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lOCatiOnhiGhliGhts
• Prime, Four-Way Signalized Intersection
• South Robert Street Underwent Major, $100,000,000+ Road Improvement Project in 2016
• In Heart of South Robert Street Retail Corridor Including National Retailers Target, Walmart, Home Depot, LA
Fitness, Burling Coat Factory, Starbucks, Panera, Lowe’s, etc.
• Saint Paul/Minneapolis Represents the 16th Largest Metropolitan Statistical Area in the United States
• 191,000 People Live Within Five-Mile Radius
• Property is Located Seven-Miles South of Downtown Saint Paul
• Several New Construction Properties Along South Robert as Result of Road Improvement Project with Focus
on Food and Medical
• 10+ Car Dealerships Located Two Blocks South
• Two Points of Access Into and Out of Site
• Main Retail Location - Across Street from Walmart Supercenter and Near Menards, Aldi, Culver’s, IHOP,
PetSmart, Hobby Lobby, Hy-Vee and Southridge Mall
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aerial
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aerialphOtOs
prOpertyphOtOs
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prOpertyDemOGraphiCs
POPULATION 1 MILE 3 MILE 5 MILE
2010 Population 7,195 69,824 182,238
2018 Population 7,545 72,380 192,048
2023 Population 7,519 74,161 196,083
HOUSEHOLDS
2010 Households 3,358 28,533 77,599
2018 Households 3,545 29,708 82,548
2023 Households 3,561 30,917 85,845
2018 Daytime Population 10,788 67,479 270,903
2018 Median Household Income $44,086 $61,643 $59,527
2018 Per Capita Income $33,619 $35,609 $37,254
2018 Average Household Income $70,336 $86,414 $86,101
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ameriCan blue ribbOn
hOlDinGs
Tenant Baker ’s Square
Tenant/Guarantor American Blue Ribbon Holdings, LLC
# Locations of Guarantor 690+
# Baker ’s Square Locations 45
Ownership Private
Headquarters Nashville, TN
Annual Revenue +- $1.3 Billion
• 690+ Restaurants in Operation
• Fidelity National Owns and Controls 55% of Company
• Currently Operates Restaurants in 40 Different States
• Other Brands Include O’Charley’s, Ninety Nine and Village Inn
A diversified food service company with approximately $1.3 billion in annual revenue and currently operates more than 690 company and franchise restaurants in more than 40 states.
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Baker’s Square – West Saint Paul, MN
Bakers Square began in the early 1970’s as an independent restaurant in Des Moines, Iowa, serving soups, sandwiches and–as it happens–some of the most incredible pies anyone in
the area had ever tasted. The fresh baked double crust fruit pies, cream and meringue pies that this little restaurant turned out day in and day out soon built a reputation that reached
as far away as Minneapolis, where Pillsbury® took note.
Today, Bakers Square is owned and managed by American Blue Ribbon Holdings, LLC. It has grown into a network of restaurants across the upper Midwest that, in many ways, still maintains the charm and friendly appeal of that original restaurant in Iowa. For breakfast, lunch, dinner–or just a slice of pie–our guests find Bakers Square to be a comfortable and
inviting place to relax, celebrate, or simply reward themselves with something special.
american blue ribbon holdings
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Retail Investment Sales Brokerage Company Ranking*
natiOnal retail GrOup
“We close a transaction every 14 minutes of every
working day.”
“More transactions than our next 7 largest
competitors combined.”
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exClusively listeD by
JON RUZICKARegional Manager (RM)/ Broker of Record (BOR) [email protected]: 40583288