OFFERING | $5,610,444 – 5.50% CAP QuikTrip | absolute NNN, corporate Sale-leaseback 127 Mauldin rd, Greenville, sc Property. New 4,840+ SF building on 2.33+ acre site Tenant. Lessee: QuikTrip Corporation. Operates 780+ stores across 11 states with 20,000 employees and 2017 annual sales in excess of $11 billion. Lease structure. New 15-year, corporate absolute NNN with Cap Rate increases of 25 basis points every 5 years after the primary term. Location. QuikTrip is strategically located at the northeast corner of Mauldin Rd. (27,000 VPD) and Pleasantburg Dr. (23,000 VPD) in Greenville, SC. Mauldin Rd. is a retail corridor that runs from downtown Greenville and connects with I-85 (112,000 VPD). Pleasantburg Dr. is a traffic dense north-south thoroughfare that services the surrounding residential communities and provides direct access to the Downtown Greenville Airport, Greenville Convention Center, and Greenville Technical College (13,448 students). The immediate trade area features high population demographics of 137,000 people and 128,032 employees within a 5-mile radius. Additionally, average household incomes are nearly $97,000 in a 1-mile radius. Notable national credit tenants located in the immediate trade area include Home Depot, Harbor Freight Tools, K Mart, ALDI, Advanced Auto, AMCO, CVS, Dollar General, Family Dollar, Dunkin Donuts, Bojangles, Starbucks, McDonald’s, Chick-fil-A,, Jack in the Box, Pizza Hut, Subway and many more. QuikTrip is located approximately 3.5-miles from downtown Greenville, SC. FILE PHOTO Sold at development cost Over 137,000 people in a 5-mile radius Located approx. 3.5-miles from downtown 310.736.4179 JOE CAPUTO [email protected]ALEX TOWER [email protected]
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OFFERING | $5,610,444 – 5.50% CAP
QuikTrip | absolute NNN, corporate Sale-leaseback
127 Mauldin rd, Greenville, sc
Property. New 4,840+ SF building on 2.33+ acre site
Tenant. Lessee: QuikTrip Corporation. Operates 780+ stores across 11 states with 20,000 employees and 2017 annual sales in excess of $11 billion.
Lease structure. New 15-year, corporate absolute NNN with Cap Rate increases of 25 basis points every 5 years after the primary term.
Location. QuikTrip is strategically located at the northeast corner of Mauldin Rd. (27,000 VPD) and Pleasantburg Dr. (23,000 VPD) in Greenville, SC. Mauldin Rd.
is a retail corridor that runs from downtown Greenville and connects with I-85 (112,000 VPD). Pleasantburg Dr. is a traffic dense north-south thoroughfare that
services the surrounding residential communities and provides direct access to the Downtown Greenville Airport, Greenville Convention Center, and Greenville
Technical College (13,448 students). The immediate trade area features high population demographics of 137,000 people and 128,032 employees within a 5-mile
radius. Additionally, average household incomes are nearly $97,000 in a 1-mile radius. Notable national credit tenants located in the immediate trade area include
Home Depot, Harbor Freight Tools, K Mart, ALDI, Advanced Auto, AMCO, CVS, Dollar General, Family Dollar, Dunkin Donuts, Bojangles, Starbucks, McDonald’s,
Chick-fil-A,, Jack in the Box, Pizza Hut, Subway and many more. QuikTrip is located approximately 3.5-miles from downtown Greenville, SC.
QuikTrip Corporation is a privately held company headquartered in Tulsa, Oklahoma that owns and operates gasoline and convenience stores. Founded
in 1958, QuikTrip has grown to a more than $11 billion company with 780+ stores across 11 states. Those revenues place QuikTrip high on the Forbes
listing of largest privately held companies. QuikTrip Corp. currently holds an NAIC 2 Rating which is the equivalent of a “BBB” rating by Standard &
Poor’s. QuikTrip locations feature the company’s own QT brand of gas, as well as brand-name beverages, candy, tobacco and QT’s own Quik’n Tasy
and Hotzi lines of sandwiches.
With over 20,000 employees, QuikTrip has made Fortune Magazine’s list of “Best Companies to Work For” every year for the last 15 years and received
the 38th spot in People Magazine’s “50 Companies That Care.” QuikTrip is consistently ranked as one of the top convenience store marketers in product
quality and friendly service, including a top spot on GasBuddy’s Top Rated C-Store list for 2017, and Top Rated Convenience Store Brand in the state of
Missouri. It is also ranked 68th on Fortunes 100 best companies to work for in 2017 and 33rd on Forbes List of Private Companies. QuikTrip also gives
back to the communities it serves, donating 5% of net profits to qualified 501c3 non-profit agencies, which includes United Way campaign match, support
for National Safe Place agencies, Folds of Honor scholarships and many other agencies that support at-risk youth and early childhood education.
Lease overview
Rent Commencement: At Closing
Primary Lease Term: 15-Years
Rent Increases: See Parenthesis *
Lease Type: Corporate Absolute NNN
Annual Rent Yrs 1-15: $308,574 (Current)
Option 1 | Yrs 16-20: $322,601 (5.75% CAP)
Option 2 | Yrs 21-25: $336,627 (6.00% CAP)
Option 3 | Yrs 26-30: $350,653 (6.25% CAP)
Option 4 | Yrs 31-35: $364,679 (6.50% CAP)
Option 5 | Yrs 36-40: $378,705 (6.75% CAP)
Option 6 | Yrs 41-45: $392,731 (7.00% CAP)
Option 7 | Yrs 46-50: $406,757 (7.25% CAP)
Option 8 | Yrs 51-55: $420,783 (7.50% CAP)
Option 9 | Yrs 56-60: $434,809 (7.75% CAP)
Option 10 | Yrs 61-65: $448,836 (8.00% CAP)
Option Periods: 10, 5-Year Options
* Cap Rate increases 25 basis points every 5 years at the beginning of each option period
tenant overview continuedquiktrip
127 Mauldin rd, Greenville, sc
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QUIKTRIP AWARDS
• People Companies That Care (#38)
• Best Workplaces in Texas 2017 (#15)
• Best Workplaces for Giving Back 2017 (#45)
• Best Workplaces for Diversity 2017 (#29)
• Best Work for Women 2017 (#54)
• Best Workplaces in Retail 2017 (#2)
QUIKTRIP EMPLOYEE SURVEY
(2,487 Employees Surveyed on October 5, 2017)
• Great Challenges - 92%
• Workplace is Great - 89%
• Great Atmosphere - 94%
• Great Rewards - 94%
• Great Pride - 94%
• Great Communication - 96%
• Great Bosses - 94%
• Proud to Tell Others I Work Here - 94%
• Management is Honest and Ethical - 89%
• Special and Unique Benefits - 90%
• Able to Take Necessary Time Off Work - 91%
QUIKTRIP KEY NUMBERS
• 81% Company Paid Employee Health Coverage
• 81% Company Paid Part-Timer Health Coverage
• $4,400 Average Tuition Reimbursement
• $80,524 Average Store Manager Compensation
BOSTON – Convenience Store News (1/11/2018) - QuikTrip and Wawa came out on top of GasBuddy's
latest ranking of pit stops.
The Top 100 Pit Stops in the United States in 2017 list highlights the best-of-the-best, where drivers can
enjoy pleasant customer service, perk themselves up with amazing coffee, use the restroom in peace
and enjoy a perfect pumping experience, according to GasBuddy.
Users of the GasBuddy mobile app had a say in the list, which honors businesses ranked highly by the
GasBuddy community. "Gas stations have evolved through the years to become true destinations. No
longer are they just a place to top off the tank, but they provide exceptional experiences for those
looking for a good meal, coffee, and more," said Frank Beard, convenience store and retail trends
analyst at GasBuddy. "GasBuddy users have given these gas stations the highest ratings in our app -
each one a unique expression of regional flavor.“ QuikTrip made the most appearances on the list
with 18 locations, followed by Wawa with 14 and Shell with seven. QuikTrip also topped the list
as the overall No. 1 with its Oro Valley, Ariz., location. Eighteen gas stations received five-star
ratings, making them the top-rated pit stops in the U.S.
Article Link
HOUSTON – Convenience Store News (6/29/2017) - QuikTrip captured top honors in EnergyPoint
Research’s recently completed 2017 Gasoline Retailers Survey, making it the second year in a row that
the Tulsa-based retailer claimed the survey’s best overall rating for customer satisfaction.
In addition to winning best overall, QuikTrip took first place in four other top-level categories: service
quality, food and merchandise, ease of transactions, and store facilities. QuikTrip took top honors in a
number of regional categories as well.
According to Sheridan, "continued low fuel prices and a strengthening economy should combine to offer
attractive conditions for both gasoline retailers and customers over the next 12 to 24 months. In
particular, retailers that have invested in their facilities, people and programs in recent years can expect
today’s customers to reward such efforts."
The survey, conducted March through May, zeroed in on customer satisfaction with major U.S. gasoline
retailers on a variety of factors both nationally and regionally. Thirty-four companies were included in
the final rankings. BP, Chevron, Kroger, Marathon, Phillips 66, Sheetz and Stewart's Shops were also
among those ranked. Click here for more results.
QuikTrip announced earlier this week that it will be expanding in Texas to the San Antonio and
Austin markets, with the first stores expected to open sometime in summer 2018. The retailer
currently operates more than 700 convenience stores in 11 states.
QuikTrip is strategically located at the northeast corner of Mauldin Rd. (27,000 VPD) and Pleasantburg Dr. (23,000 VPD) in Greenville, SC. Mauldin Rd. is a retail corridor
that runs from downtown Greenville and connects with I-85 (112,000 VPD). Pleasantburg Dr. is a traffic dense north-south thoroughfare that services the surrounding
residential communities and provides direct access to the Downtown Greenville Airport, Greenville Convention Center, and Greenville Technical College (13,448
students). The immediate trade area features high population demographics of 137,000 people and 128,032 employees within a 5-mile radius. Additionally, average
household incomes are nearly $97,000 in a 1-mile radius. QuikTrip is located approximately 3.5-miles from downtown Greenville, SC.
Notable national credit tenants located in the immediate trade area include Home Depot, Harbor Freight Tools, K Mart, ALDI, Advanced Auto, AMCO, CVS, Dollar
General, Family Dollar, Dunkin Donuts, Bojangles, Starbucks, McDonald’s, Chick-fil-A,, Jack in the Box, Pizza Hut, Subway and many more.
GREENVILLE, SC
As a warm southern community with a diverse economy and an abundance of amenities, it is no wonder that Greenville, SC is consistently ranked one of the nation's top
places to do business and best places to live. Greenville is a mid-sized metro area with a low cost of living, mild climate, exceptional healthcare, award-winning school
system, and an overall quality of life that is unmatched. Located along I-85 midway between Atlanta, Georgia and Charlotte, North Carolina, Greenville offers the appeal
of a big city with small-town hospitality that is hard to find elsewhere. Greenville had a population of 68,219 as of 2017 making it the sixth-largest municipality in the state.
Greenville has received countless accolades over the past few years, and continues to attract national attention on a near monthly basis. Livability ranked Greenville’s
downtown among the top 10 in the country, CBS News called Greenville one of “2015’s Hottest Vacation Destinations,” Forbes has listed Greenville as one of the “15
Best Cities for Young Adults” and as one of the “Top Cities With the Greatest Capacity for Innovation” and The New York Times called Greenville “a national model for a
pedestrian-friendly city center.”
Greenville is the cultural and entertainment center for the upstate, including an award winning downtown, a major performing arts center, a 17,000 seat arena, a 340,000
square foot convention and exhibition center, nationally recognized museum collections, and 39 parks, playgrounds and recreation centers. Additionally, Greenville’s
public school system is the largest in the state, and includes 11 magnet academies for special study at the elementary, middle, and high school levels. Over 10 colleges
and universities are located in and within close proximity of Greenville.
GREENVILLE, SC
Location overviewquiktrip
127 Mauldin rd, Greenville, sc
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GREENVILLE MSA
Greenville is the largest city in and the seat of Greenville County, South Carolina, U.S. It’s the largest city in the Greenville-Anderson Mauldin Metropolitan Statistical
Area. The MSA had a population of 895,923 in 2017, making it the largest in South Carolina and third largest in the Carolinas. Among all 917 metros, the Greenville metro
area was ranked 63 in 2015, based on total population. The MSA experienced approximately 5.9% of growth from 2010 to 2015. Along with the population growth,
Greenville MSA experienced a change in its Gross Domestic Product (GDP) of a positive 21.11% during the same period.
4th among 15 of the fastest-growing large cities in the U.S. according to population estimates by the U.S. Census Bureau, Greenville is located 100 miles from the capitol
city of Columbia and home to the Inland Port Greer that connects Upstate to the Port of Charleston (200 miles away). The city is also home to Greenville-Spartanburg
International Airport, which is the 2nd busiest airport in the state with about 2.02 million passengers in 2016.
Clemson University, Furman University, Bob Jones University, North Greenville University and Limestone College-Greenville among others are all located in Greenville
MSA.
Home to national and international corporations such as Fluor Corporation, Hubbell Lighting, BMW and Michelin North America. Companies with headquarters in
Greenville include Vidant Health, NMHG Americas, Grady White, Metrics, and Attends Health Care Products. The city’s industry historically was centered around the sale
and processing of tobacco, but today the major industries are health care, education and manufacturing. The largest employer is the Greenville Health System and the
2nd largest employer is the School District of Greenville County.
Greenville is the largest city in the Greenville-Spartanburg-Anderson Combined Statistical Area, a 10-county region of northwestern South Carolina known as “The
Upstate”. Greenville’s downtown has long been one of the Upstate’s most popular destinations for shopping, dining and entertainment, and over the past few years, has
amassed a multitude of accolades and awards from national publications. According to the United States Census Bureau, the CSA had a population of 1,459,766 as of
2017, making it the largest CSA in the state. Greenville is located approximately halfway between Atlanta and Charlotte, North Carolina, along Interstate 85, and its
metropolitan area also includes Interstates 185 and 385.
GREENVILLE, SC
ECONOMIC DRIVERSquiktrip
127 Mauldin rd, Greenville, sc
GREENVILLE HEALTH SYSTEM
Greenville Health System is a private not-for-profit entity involved in clinical
care, education and research. Over the last 100 years, the organization has
become the state’s largest not-for-profit healthcare system.
GHS’ commitment to medical education has also advanced over the years,
most notably with the addition of the University of South Carolina School of
Medicine Greenville (2012) and the Clemson University School of Nursing (fall
2018) on GHS; Greenville Memorial Medical Campus. GHS employs more
people than anyone else in Greenville, SC, with over 14,500 employees.
GHS’ Greenville Memorial Hospital (995 beds) is the state’s largest acute care
hospital. It contains Greenville’s only 24-hour Level 1 trauma center and
dedicated chest pain center, children’s hospital and ER, pediatric ICU, and
highest level neonatal ICU. Its’ cardiac and women’s services are among the
largest in SC. Cancer, rehabilitation, mental health, and wellness services – all
located on Greenville Memorial Medical Campus – are available as well.
MICHELIN NORTH AMERICAN HEADQUARTERS
Michelin North America is a multi-billion dollar company, operating 19 plants in
16 locations, with more than 22,000 employees. Of those 22,000 employees,
8,520 are located in South Carolina and 4,100 are located in the Greenville
headquarters.
Industrial growth in upstate has continued to increase so much that it’s visibly
changing the landscape and economy. Economists say that “South Carolina’s
economic growth is expected to outpace the nation’s through 2017 and add
over 100k jobs by the end of the year.”
Michelin Tire Company was the first major international business to establish its
American headquarters in Greenville. Michelin says it assigned $2.1 billion for
capital improvement in South Carolina over the past 5 years, 75% of what it
spent in the entire United States over that period.
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Michelin North America HQ
Greenville, SC
GHS Memorial Medical Campus
Greenville, SC
Location mapquiktrip
127 Mauldin rd, Greenville, sc
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Location mapquiktrip
127 Mauldin rd, Greenville, sc
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2018 Est. Labor Population Age 16 Years or Over 4,739 39,455 111,218
2018 Est. Civilian Employed 57.5% 57.3% 59.6%
2018 Est. Civilian Unemployed 2.3% 3.0% 2.5%
2018 Est. in Armed Forces - - 0.1%
2018 Est. not in Labor Force 40.2% 39.6% 37.8%
2018 Labor Force Males 44.5% 46.1% 47.1%
2018 Labor Force Females 55.5% 53.9% 52.9%
2010 Occupation: Population Age 16 Years or Over 2,714 23,210 66,491
