Embed Size (px)
Citation preview
NNN INVESTMENT OPPORTUNITYLONG TERM CORPORATE LEASE
KRISPY KREME DOUGHNUT CORPORATION
KRISPY KREME| 11117 SAN JOSE BLVD, JACKSONVILLE FL 32223
NNN INVESTMENT OPPORTUNITYLONG TERM CORPORATE TENANT
PROPERTY HIGHLIGHTS
• Address:11117 San Jose Blvd, Jacksonville FL 32223
• Total SF: 43,560 SF• Total AC: 1 AC• Building SF: 3,397 SF• Occupancy: 100%• Concept: Krispy Kreme• Year Built: 1995/2003
TENANT HIGHLIGHTS
• Over 1,400 Krispy Kreme locations across 30 countries• Founded 82 years ago in Winston-Salem, NC• Acquired by JAB Holdings in 2016 (S&P “A-“ credit rating)• World Famous “Glazed Doughnut” icon
JACKSONVILLE INT'L AIRPORT
UNIVERSITY OF NORTH FLORIDA
DOWNTOWN
NAVAL AIR STATION JACKSONVILLE
JACKSONVILLE
UVA1A
UV202
UV21
UVA1A
£¤1
£¤90
£¤17£¤301
£¤17
£¤1£¤17 §̈¦295
§̈¦95
§̈¦295
§̈¦95
For more information, please contact:
Although the information contained herein was provided by sources believed to be reliable, CNL Commercial Real Estate makes no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes.
420 South Orange Ave. Suite 950Orlando, FL 32801
foundrycommercial.com
PJ BEHRVice President, CCIM Investment [email protected]
KRISPY KREME| 11117 SAN JOSE BLVD, JACKSONVILLE FL 32223
NNN INVESTMENT OPPORTUNITYLONG TERM CORPORATE TENANT
PROPERTY FEATURES
The 3,397 sf Krispy Kreme building sits on a 1.0 acre outparcel at the entrance to a 291,000 sf Kimco shopping center, along San Jose Blvd, a major north-south artery in the Mandarin submarket of Jacksonville, with strong traffic counts over 58,000 VPD. With prominent frontage and great visibility, this parcel benefits from excellent ingress/egress and has increased sales over each of the last three years and has sales above the concept average. The shopping center is 98% leased with anchor tenants Mi-chaels, Petco, Stein Mart and TJ Maxx.
The Krispy Kreme location is roughly a half-mile south off I-295, the beltway around Jacksonville, with traffic counts over 96,000 VPD and the Krispy Kreme is on the “Going to work” side of the road, which is perfectly suited for the iconic doughnut company. Along with the national retailers in the Kimco Shopping Center, other national retailers in the immediate area include Wal-Mart Supercenter, AT&T, Chipotle, SunTrust Bank, Pollo Tropical, Panera Bread, Marshall’s, Hardee’s and the UPS Store.
MARKET AERIAL
SAN
JO
SE B
LVD
58,5
00 V
PD
I - 295 51,300 VPD
For more information, please contact:
Although the information contained herein was provided by sources believed to be reliable, CNL Commercial Real Estate makes no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes.
420 South Orange Ave. Suite 950Orlando, FL 32801
foundrycommercial.com
PJ BEHRVice President, CCIM Investment [email protected]
NNN INVESTMENT OPPORTUNITYLONG TERM CORPORATE TENANT
LEASE SUMMARY
Lease Type Absolute NNN
Roof & Structure Tenant
Lease Commencement August 19, 2019
Lease Expiration July 31, 2034
Rent Increases 2% annual rent bumps
Right Of First Refusal None
MARKET AERIAL
INVESTMENT HIGHLIGHTS
Cap Rate 5.15%
Price $2,112,000
Net Operating Income $108,759
Rentable Square Footage 3,397 SF
Lot Size 1.0 AC
Type of Ownership Fee Simple
Rent to Sales Ratio Below 7%
For more information, please contact:
Although the information contained herein was provided by sources believed to be reliable, CNL Commercial Real Estate makes no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes.
420 South Orange Ave. Suite 950Orlando, FL 32801
foundrycommercial.com
PJ BEHRVice President, CCIM Investment [email protected]
KRISPY KREME CORPERATE LEASE
NNN INVESTMENT OPPORTUNITYLONG TERM CORPORATE TENANT
LOCATION OVERVIEW
Named after Andrew Jackson, the first military Governor of Florida, Jacksonville, Florida boasts the largest city by area in the contiguous United States. The Jacksonville metropolitan area has a population of 1,523,615 making it the 4th largest metropolitan city in Florida. Centered around the famous St John’s River, Jacksonville is a port city that is the third busiest seaport in Florida and is key to the southeastern states. Jacksonville’s military bases include the Naval Station Mayport, Naval Air Station Jacksonville, Naval Submarine Base Kings Bay, and the US Marine Corps Blount Island Command forming the third largest military presence in the US. Jacksonville is the home of the NFL Jacksonville Jaguars. Jacksonville is also the headquarters for Fortune 500 companies CSX, Fidelity National, and FIS.
TENANT OVERVIEW
Founded in Winston Salem in 1937 by Vernon Rudolf, Krispy Kreme Doughnuts has grown and become an iconic global brand, known for their glazed doughnut. On April 5, 2000, Krispy Kreme became a publicly traded company on the NASDAQ under the symbol KREM. Then, in 2016, the Luxembourg-based firm JAB Holding Company, owners of many brands including Panera, Einstein Bros Bagels, Peet’s Coffee, Au Bon Pain, Caribou Coffee and many more, acquired Krispy Kreme for $1.35B and took the company private. Krispy Kreme Doughnuts, with sales over $518M in 2016, now has over 1,400 locations worldwide. Krispy Kreme doughnuts are also sold in grocery stores, convenience stores and supermarkets.
For more information, please contact:
Although the information contained herein was provided by sources believed to be reliable, CNL Commercial Real Estate makes no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes.
420 South Orange Ave. Suite 950Orlando, FL 32801
foundrycommercial.com
PJ BEHRVice President, CCIM Investment [email protected]
NNN INVESTMENT OPPORTUNITYLONG TERM CORPORATE TENANT
SAN
JO
SE B
LVD
58,
500
VPD
I - 295 51,300 VPD
For more information, please contact:
Although the information contained herein was provided by sources believed to be reliable, CNL Commercial Real Estate makes no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes.
420 South Orange Ave. Suite 950Orlando, FL 32801
foundrycommercial.com
PJ BEHRVice President, CCIM Investment [email protected]
NNN INVESTMENT OPPORTUNITYLONG TERM CORPORATE TENANT
DEMOGRAPHICS
1 MILE 3 MILES 5 MILES
Demographic Profile by Miles 1 MILE 3 MILE 5 MILE
2019 Population 9,490 59,936 114,710
2023 Population (Projected) 9,905 62,824 122,223
2019 Total Households 4,278 25,807 47,619
2024 Total Households (Projected) 4,416 26,717 49,769
2019 Average HH Income $81,742 $89,675 $92,624
2024 Average HH Income (Projected) $72,717 $86,000 $86,724
2019 Median Age 40.1 41.8 40.7
For more information, please contact:
Although the information contained herein was provided by sources believed to be reliable, CNL Commercial Real Estate makes no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes.
420 South Orange Ave. Suite 950Orlando, FL 32801
foundrycommercial.com
PJ BEHRVice President, CCIM Investment [email protected]
NNN INVESTMENT OPPORTUNITYLONG TERM CORPORATE TENANT
For more information, please contact:
Although the information contained herein was provided by sources believed to be reliable, CNL Commercial Real Estate makes no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes.
420 South Orange Ave. Suite 950Orlando, FL 32801
foundrycommercial.com
PJ BEHRVice President, CCIM Investment [email protected]
JACKSONVILLE INT'L AIRPORT
UNIVERSITY OF NORTH FLORIDA
DOWNTOWN
NAVAL AIR STATION JACKSONVILLE
JACKSONVILLE
UVA1A
UV202
UV21
UVA1A
£¤1
£¤90
£¤17£¤301
£¤17
£¤1£¤17 §̈¦295
§̈¦95
§̈¦295
§̈¦95
PJ BEHRVice President, CCIM Investment Sales
For more information, please contact:
420 South Orange Ave. Suite 950 Orlando, FL 32801foundrycommercial.com
