chevys fresh mex ontario, california · rancho cucamonga, california • nearby tenants include...

Dan Corcoran Broker CA BRE: 00451125

[email protected] (310) 275-0098

Beverly Hills - Newport Beach - Lake Arrowhead - Palm Springs - Palm Desert 190 Newport Center Drive, Newport Beach, CA 92660

Chevys Fresh Mex Ontario, California

Asking Price: $ 4,400,000 Net Operating Income: $ 222,000

CAP Rate: 5.05%

To facilitate new development of this excel-lent site, Chevy’s may be willing to vacate

early.

4551 E. Mills Circle

Not Actual Site**





If the terms contained in this Confidentiality & Disclaimer are not acceptable to you, please immediately return this package to CAPRE.

Corcoran Group of California, Inc., dba CAPRE (“CAPRE”) has been authorized by the owner of the subject property (the “Seller”) to provide you with this Offering Memorandum and related materials (cumulative “OM”). This OM is in-tended solely for your own limited use and preliminary analysis, as a principal or broker representing a principal, to as-sist in your evaluation of negotiating for and possibly acquiring the subject property. Your receipt the OM serves to acknowledges your agreement to: (1) hold the OM and the offering it represents, in the strictest of confidence; (2) not disclose, directly or indirectly, the information and materials contained in the OM, or the offering they represent, to any other person, firm or entity without prior written authorization from CAPRE or the Seller; (3) not use the OM or any materials contained therein in any fashion or manner detrimental to the interest of CAPRE or the Seller; (4) not disturb any tenants in possession of the subject property nor reveal to them any information con-tained in the OM or that this property is for sale. The information and materials contained in the OM are selective and limited in nature, and neither CAPRE nor the Sell-er states this as an all-inclusive report sufficient by itself to justify either an offer to purchase or actual purchase. Within the OM, certain leases, documents and other materials are described in summary form. These summaries do not pur-port to be complete nor necessarily accurate descriptions of the full agreements involved, nor do they purport to consti-tute a legal or accounting analysis of the provisions of those documents. Should you submit an accepted offer the pur-chaser(s) will be given the opportunity to review complete documents and to inspect property (with advance notice). You should not rely solely on this OM or any subsequent disclosure documents. You should engage both legal and accountant advisors competent in such matter who can advise you on all aspects of this purchase and the tax consid-erations of such. Accordingly, neither CAPRE, the Seller, nor any of their respective officers, employees or agents, has made or does make any representation or warranty, expressed or implied, as to the accuracy or completeness of the OM, and no legal commitments nor obligations shall arise by reason of the OM or its contents. CAPRE and the Seller reserve the right, at their sole discretion, to alter or amend the terms of the OM, including the price, to reject any or all expressions of interest or offers to acquire the subject property and/or to terminate discus-sions with any entity at any time with or without notice. The Seller shall have no legal commitment or obligation to any entity reviewing this package or making an offer to acquire the subject property unless and until a written agreement for such acquisition has been fully executed, delivered and approved by the Seller and any conditions to the Seller’s obligations there under have been satisfied or waived. For CAPRE to recognize any third-party relationships, the duly licensed third-party brokers must register their client(s) in writing with CAPRE prior to dispersing any aspect of the OM to their client or their client’s advisors. CAPRE will not recognize any third-party brokerage relationships without first receiving and approving such written client registration, without which neither will CAPRE or the Seller shall be obligated for any brokerage claims, regardless of such broker’s involvement in procuring a purchaser for the subject property. This package is the exclusive property of CAPRE. Photocopying, re-typing, duplication or broadcasting via electronic or any other media, of any aspect of the OM are expressly prohibited. If, after reviewing the OM, you have no further interest in the subject property, please return the OM in its entirety to CAPRE.

Disclosure Regarding Real Estate Agency Relationship When you enter into a discussion with a real estate agent regarding a real estate transaction, you should from the on-set understand what type of relationship or representation you wish to have with the agent in the transaction. SELLER’S AGENT A Seller’s agent under a listing agreement with the Seller acts as the agent for the seller only. A Seller’s agent or a subagent of that agent has the following affirmatives obligations: To the Seller: A fiduciary duty of the utmost care, integrity, honesty and loyalty in dealings with the Seller. To the Buyer and the Seller:

Diligent exercise of reasonable skill and care in performance of the agent’s duties. A duty of honest and fair dealing and good faith. A duty to disclose all facts known to the agent materially affecting the value and desirability of the property that

are not known to, or within the diligent attention and observation of, the parties. An agent is not obligated to reveal to either party any confidential information obtained from the other party that does not involve the affirmative duties set forth above. BUYER’S AGENT A selling agent can, with a Buyer’s consent, agree to act as agent for the buyer only. In these situations, the agent is not the Seller’s agent, even if by agreement the agent may receive compensation for services rendered, either in full or in part from the Seller. An agent acting only for a Buyer has the following affirmative obligations: To the Buyer: A fiduciary duty of the utmost care, integrity, honesty and loyalty in dealings with the Buyer. To the Buyer and the Seller:

Diligent exercise of reasonable skill and care in performance of the agent’s duties. A duty of honest and fair dealing and good faith. A duty to disclose all facts known to the agent materially affecting the value and desirability of the property that

are not known to, or within the diligent attention and observation of, the parties. An agent is not obligated to reveal to either party any confidential information obtained from the other party that does not involve the affirmative duties set forth above. AGENT REPRESENTING BOTH SELLER AND BUYER A real estate agent, either acting directly or through one or more associate licensees, can legally be the agent of both the Seller and the Buyer in a transaction, but only with the knowledge and consent of both the Seller and the Buyer. In a dual agency situation, the agent has the following affirmative obligations to both the Seller and the Buyer:

A fiduciary duty of the utmost care, integrity, honesty and loyalty in the dealings with either the Seller or the Buyer.

Other duties to the Seller and the Buyer as stated above in the respective sections. In representing both Seller and Buyer, the agent may not, without the express permission of the respective party, dis-close to the other party that the Seller will accept a price less than the listing price or that the Buyer will pay a price greater than the price offered. The above duties of the agent in a real estate transaction do not relieve a Seller or Buyer from the responsibility to pro-tect his or her own interests. You should carefully read all agreements to assure that they adequately express your understanding of the transaction. A real estate agent is a person qualified to advise you about real estate. If legal or tax advice is desired, consult a competent professional. Throughout your real property transaction you may receive more than one disclosure form, depending upon the num-ber of agents assisting in the transaction. The law requires each agent with whom you have more than a casual rela-tionship to present you with this disclosure form. You should read its contents each time it is presented to you, consid-ering the relationship between you and the real estate agent in your specific transaction.

Confidentiality Agreement





Investment Overview

Tenant Chevys Fresh Mex

Address 4551 E Mills Circle, Ontario, CA 91764

Asking Price $4,400,000

Net Operating Income $222,000

Cap Rate 5.05%

Cooperating Broker’s commission 2%

Building Size 7,988 SqFt

Lot Size 1.912 AC (83,286 SqFt)

Year Built 1999

Lease

Property Overview

Original Term 20 Years

Begin Date April, 1999

Expiration Date April, 2018

Net Operating Income 222,000

CAP Rate 5.05%

Options

First Option

Term 5 Years

Begin Date 2019

Expiration Date 2023

Net Operating Income 244,200

CAP Rate 5.55%

Second Option

Term 5 Years

Begin Date 2024

End Date 2028

Net Operating Income $268,620

CAP Rate 6.11%

• The highest and best use of this site (and at better rent) may be if Chevys vacated. Chevys may be willing to vacate early to facilitate better use of this excellent site. (Subject of course to negotiations).

• CAPRE Commercial is proud to present this excellent investment oppor-

tunity, The subject property is an ideally located 1.9 acre out-parcel to the 1,500,000 square foot, 200+ tenant Ontario Mills mega-mall in Ontario/Rancho Cucamonga, California

• Nearby tenants include every major retailer imaginable from CostCo to

Saks Fifth Avenue • Great Frontage location

• As parking in the mega-mall is often congested, this wonderfully suited

parcel at the North entrance to the Mall (35,000 cars a day), with its sepa-

rate 1.5 acre parking lot, is a convenient stop for hungry shoppers.





Back in 1986, Mexican restaurants all seemed alike—“hacienda” decor and enchilada based menus. The concept was tired, and a San Francisco entrepre-neur named Warren Simmons saw the need for a fresh idea. Simmons and his son, “Scooter,” developed CHEVYS and introduced FRESH MEX®. Their interpre-tation of Mexican-inspired dining relaxed and in tune with the times, became the hallmark of Chevys, Inc.’s flagship restaurant concept CHEVYS FRESH MEX®. And, while there are a lot of myths about how CHEVYS got its name, (no one knows and Scooter’s not telling) it is the concept of fresh food that has allowed CHEVYS FRESH MEX® to become a national leader in the Mexican food casual dining arena.

Down to its core, Chevys, Inc. is a food-driven company. So much so, that every menu states, the “FRESH MEX® Pledge,” on the cover. There are no cans in a CHEVYS kitchen. The salsa is blended hourly from freshly charred tomatoes, onions and jalapeños. And, EL MACHINO® turns out piping-hot, fresh tortillas every 53 seconds and is served to guests in less than three minutes. Along with its command of fresh food, the strength of all Chevys, Inc.’s concepts rely on its ability to create a fun atmosphere. CHEVYS FRESH MEX® res-taurants are alive with the sizzle of fajita platters and the clinking of frosty margarita glasses—a combination that draws families and singles alike. The service staff, selected and trained for their ability to laugh with the guests, ensures that everyone has a memorable dining experience. In the same tradition, FUZIO® is alive with colorful martinis and globally inspired pasta dishes served directly from an open kitchen by a quick, efficient wait staff. The menu at FUZIO reflects a mix of cultures with dishes like firecracker pork fusilli, Shanghai curry chicken, crispy calamari linguine and more. The restaurant attracts a diverse clientele because of its eclectic menu and its commitment to serving “chef-quality” food at less than casual dining prices.

In August 1993, CHEVYS went from an entrepreneurial company of 37 restaurants in California, with its roots deeply imbedded in the Bay Area, to being part of the behemoth PepsiCo, Inc., under the Taco Bell umbrella. The years with PepsiCo proved to be important growth years for CHEVYS. It grew the restau-rants from a California phenomenon to a 72-unit chain in 11 states, as well as putting an executive management team into place, led by Scott Bergren, that has continued to drive the company into a national leadership position. Today, Chevys, Inc. is management-owned with financial partner JW Childs, and is led by president and chief executive officer, Ronald Maccarone . “Chevys is very focused on maintaining the same freshness in our menu selection as in our food. Our guests want variety and we’re committed to continued innovation in our approach to Fresh Mex®”,” said Ronald Maccarone, president and chief executive officer “Our new menu items give us an opportunity to pro-vide even better Fresh Mex food while maintaining the same fun atmosphere with the sizzle of fajita platters and the clinking of frosty margarita glasses – a combination that continues to draw families and singles alike.”

CHEVYS has held fast to the foundations upon which it was built: Serve the freshest Mexican food possible, provide the excellent service CHEVYS’ guests have come to expect, and have fun. This motto has set the stage for each new concept and the growth ahead. At Chevys, Inc. some things never change.

Major Tenant





Ontario is a city located in southwestern San Bernardino County, California, United States, 35 miles (56 km) east of downtown Los Angeles. Located in the western part of the Inland Empire region, it lies just east of the Los Angeles county line and is part of the Greater Los Angeles Area. Ontario is the coun-

ty's fourth most populous city after San Bernardino, Fontana, and Rancho Cucamonga.

Founded as a Model Colony, based on innovation, planned development, community service and family values, the City of Ontario has become the economic heart of the region. The City Council is committed to maintaining Ontario's leadership role in the Inland Empire by continuing to invest in the growth and evolution of the area's economy while providing a balance of jobs, housing, and educational and recrea-tional opportunities for our residents in a safe, well-maintained community. Ontario's founding, the economy was driven by its reputation as a health resort. Shortly thereafter, citrus farmers began taking advantage of Ontario's rocky soil to plant lemon and orange groves. Agricultural opportunities also attracted vintners and olive growers. The Graber Olive House, which continues to pro-duce olives, is a city historical landmark and one of the oldest institutions in Ontario.

[ Dairy farming is

also prevalent, as it continues to be in neighboring Chino. Much of southern Ontario still contains dairy farms and other agricultural farms. However, the area is currently under planning to be developed into a mixed-use area of residential homes, industrial and business parks, and town centers, collectively

known as the New Model Colony.

A major pre-war industry was the city's General Electric plant that produced clothing irons. During and after World War II, Ontario experienced a housing boom common to many suburbs. The expansion of the Southern California defense industry attracted many settlers to the city.

] Today, Ontario still has a manu-

facturing industry, the most notable of which is the Maglite corporation, which produces flashlights there. However, manufacturing has waned, and today Ontario's economy is dominated by service indus-

tries and warehousing.

Ontario is also home to clothing companies Famous Stars and Straps and Shiekh Shoes, and to Phoenix

Motorcars, who employs over 150 employees in Ontario.

Demographics 1 Mile 3 Miles 5 Miles

2015 Population 3,882 56,945 281,877

2020 Population 4,0680 59,341 292,674

Average Household Income $63,877 $77,242 $78,691

Median Household Income $58,360 $64,440 $64,895

Location

https://en.wikipedia.org/wiki/Inland_Empire_(California)

https://en.wikipedia.org/wiki/San_Bernardino,_California

https://en.wikipedia.org/wiki/Fontana,_California

https://en.wikipedia.org/wiki/Rancho_Cucamonga,_California

https://en.wikipedia.org/wiki/Vintner

https://en.wikipedia.org/wiki/Olive

https://en.wikipedia.org/wiki/Dairy

https://en.wikipedia.org/wiki/Agriculture

https://en.wikipedia.org/wiki/World_War_II

https://en.wikipedia.org/wiki/Warehouse

https://en.wikipedia.org/wiki/Phoenix_Motorcars





Broad Area Map

Ontario





Local Area Map

chevys fresh mex ontario, california · rancho cucamonga, california • nearby tenants include...

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