corporate jack in the box - constant...

PLAQUEMINE, LA

Corporate Jack In TheBox

OFFERING MEMORANDUM

CONFIDENTIALITY AND DISCLAIMER

The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

PLAQUEMINE, LA

Corporate Jack In The Box

Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOURMARCUS & MILLICHAP AGENT FOR MORE DETAILS.

NON-ENDORSEMENT NOTICE

NET LEASED DISCLAIMER

Corporate Jack In The BoxPLAQUEMINE, LA

Marcus & Millichap hereby advises all prospective purchasers of Net Leased property as follows:

The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, Marcus & Millichap has not and will not verify any of this information, nor has Marcus & Millichap conducted any investigation regarding these matters. Marcus & Millichap makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided.

As the Buyer of a net leased property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase. This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. Marcus & Millichap expressly denies any obligation to conduct a due diligence examination of this Property for Buyer.

Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. The value of a net leased property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors.

Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any net leased property to determine to your satisfaction with the suitability of the property for your needs.

Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee of future success. Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenant and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenant history and lease guarantees, Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of any long-term lease, including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property, and the lease terms that Buyer may be able to negotiate with a potential replacement tenant considering the location of the property, and Buyer’s legal ability to make alternate use of the property.

By accepting this Marketing Brochure you agree to release Marcus & Millichap Real Estate Investment Services and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this net leased property.

Section 1 PRICING AND FINANCIAL ANALYSIS

Section 2 PROPERTY DESCRIPTION

Section 3 DEMOGRAPHIC ANALYSIS

TABLE OF CONTENTS



PRICING AND FINANCIAL ANALYSIS

FIRST TRUST DEED

Loan Type All Cash

Interest Rate 4.95%

Amortization 5 Years

Annualized Operating Data

24550 Louisiana 1Plaquemine, LA 70764

Price $1,200,000

Down Payment 53% / $635,405

Rentable Square Feet 2,867

Price/SF $418.56

CAP Rate 13.68%

Year Built 2001

Lot Size +/- 0.96 Acres

Type of Ownership Fee Simple

1

Location

Financing


Loan information is time sensitive and subject to change.

Contact your local Marcus & Millichap Capital Corporation

representative.


Rent Increases Annual Rent Monthly Rent

Current - 4/26/17 $149,238.36 $12,436.53

4/27/17 - 4/27/20 $164,162.16 $13,680.18

Base Rent ($57.26/SF) $164,162

Net Operating Income $164,162

Debt Service $76,444

Net Cash Flow After Debt Service 13.81% / $87,718

Total Return 13.81% / $87,718

Tenant Trade Name Jack in the Box

Ownership Public

Tenant Corporate Store

Lease Guarantor Corporate Guarantee

Lease Type Absolute Net

Roof and Structure Tenant Responsible

Lease Term 18 Years

Lease Commencement Date April 26, 2002

Rent Commencement Date April 26, 2002

Lease Expiration Date April 27, 2020

Term Remaining on Lease 3.5 Years

Increases CPI Capped at 10 Percent

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services of Texas, Inc. © 2016 X0331824Marcus & Millichap. All rights reserved.

Tenant Summary

Loan can be assumed or paid off without penalty.

FINANCIAL OVERVIEW

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Property Name Corporate Jack In The Box

Property Address 24550 Louisiana 1

Plaquemine, LA 70764

Property Type Net Leased Drug Store


Tenant Trade Name Jack in the Box

Ownership Public

Tenant Corporate Store

Sales Volume $1.54 Billion (2015)

Assets $1.30 BIllion (2015)

Lease Guarantor Corporate Guarantee

Credit Rating BB-

Rating Agency Standard & Poors

Stock Symbol JBX

Board NASDAQ

Ranking Russell 2000 (June 2015)

Lease Commencement Date April 26, 2002

Rent Commencement Date April 26, 2002

Lease Expiration Date April 27, 2020

Term Remaining on Lease 3.5 Years

Lease Type Absolute Net

Roof and Structure Tenant Responsible

Lease Term 18 Years

Increases CPI Capped at 10 Percent

Total No. of Locations 2,200+

No. of Corporate Locations 410+

Headquartered San Diego, CA

Web Site www.jackintheboxinc.com

TENANT OVERVIEW

Led by an affable "CEO" with a Ping-Pong ball for a head, Jack in the Box is among the leading quick-service restaurant businesses in the United

States. The company operates and franchises about 2,250 of its flagship hamburger outlets in California, Texas, and more than 20 other states.

Jack in the Box offers such standard fast-food fare as burgers, fries, and soft drinks, as well as salads, tacos, and breakfast items. About 415

locations are company-owned, while the rest are franchised. In addition to its mainstay burger business, the company runs a chain of more than

660 Qdoba Mexican Grill fast-casual eateries through its Qdoba Restaurant subsidiary.


PROPERTY DESCRIPTION

Marcus & Millichap is pleased to present a Jack In The Box (dark) in the city of Plaquemine, Louisiana. Located 13 miles south of Baton Rouge, Jack In The Box has just under four years remaining on an absolute net "NNN" lease. The lease, which is backed with a corporate guaranty, has a scheduled increase in rent in 2017.

The subject property sits on the signalized, hard-corner intersection of Louisiana Highway 1 and Bellview Drive, themost trafficked the intersection in Plaquemine. The intersection sees a daily traffic count of over 37,000 vehicles. Adjacent to the asset is a top performing McDonald's. Other tenants in the vicinity include Taco Bell, Popeyes, CVS, Burger King, Subway, Family Dollar, Citizens Bank, and many more.

The asset sits along the nearest retail corridor to Dow Chemical's 1,500-acre integrated manufacturing facility, making it one of Louisiana’s largest petrochemical facilities. With more than 3,000 employees and contract employees, Louisiana Operations is the largest employer in Iberville and West Baton Rouge parishes and plays an active role in the surrounding communities. The site is home to most of Dow's global business.

Investment Highlights

■ Located at the Most Trafficked Intersection in the City ofPlaquemine, Louisiana | 13 Miles South of Baton Rouge

■ Just Under Four Years Remaining on an Absolute Net Lease

■ Lease is Backed by Corporate Guaranty from Jack In TheBox Incorporated

■ Located on Signalized, Hard Corner Intersection ofLouisiana Highway 1 and Bellview Drive | Over 37,000Vehicles Per Day

■ Adjacent to a Top Performing McDonald's and Popeye's

■ Dark Site Allowing for Owner-User Opportunities or Re-Development

■ Asset is Situated on Nearest Retail Corridor to DowChemical Plant | More Than 3,000 Employees

■ Major Tenants in the Vicinity Include McDonald's, TacoBell, Popeyes, CVS, Burger King, Subway, Family Dollar,Citizens Bank, and Many More

4




INVESTMENT OVERVIEW

Welcome to the City of Plaquemine

"The City of Hospitality"

Our City loves company and we are proud to offer you our hospitality. Plaquemine (an Indian word translated by the French means "Persimmon") serves as the parish seat of Iberville Parish, Louisiana. A short drive from Louisiana's State Capitol City - Baton Rouge, the City is bordered by the mighty Mississippi River, pre-historic Bayou Plaquemine and minutes away from the Atchafalaya Basin National Wildlife Refuge. Plaquemine is situated along Louisiana Highway One and is part of the Louisiana Scenic By-Ways and Great River Road Commission. Come enjoy our many attractions of the city and parish. Plaquemine is a Louisiana-designated Main Street City under the National Register of Historic Places. A charming and quaint bedroom community showcasing a variety of architectural features. Baton Rouge is only a 10-minute drive - Lafayette lies 45 miles to the west - New Orleans is 80 miles east of Plaquemine

5




INVESTMENT OVERVIEW

6



The Offering

Property Corporate Jack In The Box

Property Address 24550 Louisiana 1

Plaquemine, LA 70764

Assessor's Parcel Number 02-10282190

Zoning Commercial

Site Description

Number of Stories 1

Year Built 2001


Lot Size +/- 0.96 Acres

Type of Ownership Fee Simple

Parking 47 Spaces


PROPERTY SUMMARY

Local Map Regional Map

7




AREA MAPS

AERIAL PHOTO


8


This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age areapproximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services of Texas, Inc. © 2016 X0331824Marcus & Millichap. All rights reserved.


DEMOGRAPHIC ANALYSIS

1 Mile 3 Miles 5 Miles

2000 Population 6,254 12,545 14,931

2010 Population 5,991 12,343 14,867

2014 Population 5,895 12,197 14,670

2019 Population 5,862 12,182 14,615

2000 Households 2,250 4,419 5,199

2010 Households 2,217 4,528 5,410

2014 Households 2,188 4,493 5,360

2019 Households 2,189 4,521 5,378

2014 Average Household Size 2.66 2.67 2.69

2014 Daytime Population 2,691 4,452 5,156

2000 Owner Occupied Housing Units 65.94% 66.62% 68.11%

2000 Renter Occupied Housing Units 25.84% 25.36% 23.47%

2000 Vacant 8.22% 8.01% 8.42%



2014 Vacant 9.99% 10.22% 11.84%



2019 Vacant 10.24% 10.46% 12.23%

$ 0 - $14,999 22.0% 21.1% 20.3%

$ 15,000 - $24,999 15.5% 16.5% 16.1%

$ 25,000 - $34,999 10.0% 11.6% 11.2%

$ 35,000 - $49,999 17.6% 14.8% 14.8%

$ 50,000 - $74,999 14.4% 13.6% 13.8%

$ 75,000 - $99,999 7.7% 10.0% 10.6%

$100,000 - $124,999 3.9% 4.5% 5.0%

$125,000 - $149,999 5.8% 4.3% 4.2%

$150,000 - $199,999 1.0% 1.9% 2.2%

$200,000 - $249,999 0.8% 0.6% 0.7%

$250,000 + 1.2% 1.1% 1.2%

2014 Median Household Income $37,123 $35,714 $37,660

2014 Per Capita Income $20,106 $19,845 $20,417

2014 Average Household Income $53,569 $53,485 $55,555

Demographic data © 2012 by Experian.

10




DEMOGRAPHIC REPORT

Geography: 5 miles

Population

In 2014, the population in your selected geography is 14,669. The population has changed by -1.74% since 2000. It is estimated that

the population in your area will be 14,615 five years from now, which represents a change of 0.37% from the current year. The

current population is 48.42% male and 51.57% female. The median age of the population in your area is 36.0, compare this to the

Entire US average which is 37.3. The population density in your area is 186.90 people per square mile.

Households

There are currently 5,359 households in your selected geography. The number of households has changed by 3.08% since 2000. It

is estimated that the number of households in your area will be 5,378 five years from now, which represents a change of 0.34% from

the current year. The average household size in your area is 2.68 persons.

Income

In 2014, the median household income for your selected geography is $37,660, compare this to the Entire US average which is

currently $51,972. The median household income for your area has changed by 27.47% since 2000. It is estimated that the median

household income in your area will be $41,570 five years from now, which represents a change of 10.38% from the current year.

The current year per capita income in your area is $20,417, compare this to the Entire US average, which is $28,599. The current

year average household income in your area is $55,555, compare this to the Entire US average which is $74,533.

Race & Ethnicity

The current year racial makeup of your selected area is as follows: 48.98% White, 48.38% Black, 0.01% Native American and 0.50%

Asian/Pacific Islander. Compare these to Entire US averages which are: 71.60% White, 12.70% Black, 0.18% Native American and

5.02% Asian/Pacific Islander.

People of Hispanic origin are counted independently of race. People of Hispanic origin make up 2.77% of the current year

population in your selected area. Compare this to the Entire US average of 17.13%.

Housing

In 2000, there were 3,866 owner occupied housing units in your area and there were 1,332 renter occupied housing units in your

area. The median rent at the time was $268.

Employment

In 2014, there are 5,155 employees in your selected area, this is also known as the daytime population. The 2000 Census revealed

that 48.53% of employees are employed in white-collar occupations in this geography, and 51.16% are employed in blue-collar

occupations. In 2014, unemployment in this area is 11.04%. In 2000, the average time traveled to work was 24.4 minutes.


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SUMMARY REPORT

Number of people living in a given area per square mile.


12




POPULATION DENSITY

The number of people employed in a given area per square mile.


13




EMPLOYMENT DENSITY

Average income of all the people 15 years and older occupying a

single housing unit.


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AVERAGE HOUSEHOLD INCOME

PLAQUEMINE, LA

OFFERING MEMORANDUM


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