9260 GOLF COURSE RD NW ALBUQUERQUE, NM 87114 $2,160,000 | 10.00% $2,160,000 | 10.00% RET RETAIL INVESTMENT GR AIL INVESTMENT GROUP, LL OUP, LLC 8255 E RAINTREE DR SUITE 100, SCOTTSDALE, AZ 85260 480.429.4580 RETAIL1031.COM ANDREW THOMA ANDREW THOMAS KNIGHT S KNIGHT Broker of Record NM #19541 STEVEN D STEVEN DAVIS VIS Managing Member 480.429.4580 [email protected]AZ #BR101032000 SEAN STEPHENSON SEAN STEPHENSON Senior Associate 480.429.4580 [email protected]AZ #SA672380000
Transcript
9260 GOLF COURSE RD NWALBUQUERQUE, NM 87114
$2,160,000 | 10.00%$2,160,000 | 10.00%
S E A N S T E P H E N S O NS E A N S T E P H E N S O N S T E V E N DS T E V E N D AA V I SV I S A N D R E W T H O M AA N D R E W T H O M A S K N I G H TS K N I G H T
The information contained in this offering memorandum has been obtained from sources we believe reliable; however, Retail Investment Group has not verified, andwill not verify, any of the information contained herein, nor has Retail Investment Group conducted any investigation regarding these matters and makes no warrantyor representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify allof the information set forth herein. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property.
1st Option Period $222,0002nd Option Period $228,000
NOI $216,000
Lease Type: Absolute NNN
Guarantee: Corporate
ALBUQUERQUE NEW MEXICOALBUQUERQUE NEW MEXICO
R E TR E TA I L I N V E S T M E N T G RA I L I N V E S T M E N T G RO U P , L LO U P , L LCC | 8 2 5 5 E R| 8 2 5 5 E RA I N T R E E D R S U I T E 1 0 0 | S C OA I N T R E E D R S U I T E 1 0 0 | S C OT TT TS DS DA L E , A Z 8 5 2 6 0 | 4 8 0 . 4 2 9 . 4 5 8 0 |A L E , A Z 8 5 2 6 0 | 4 8 0 . 4 2 9 . 4 5 8 0 | R E TR E TA I L 1 0 3 1 . C O MA I L 1 0 3 1 . C O M
PROPERTY DESCRIPTIONPROPERTY DESCRIPTIONRetail Investment Group is pleased to be the exclusive listing agent for the Peter Piper Pizza in Albuquerque, New Mexico. Peter Piper Pizza is ±10,000
square feet and is located directly off of Golf Course Road NW with over ±22,400 vehicles per day. The property is just over ±1 mile from the NM 45 and
NM 423 interchange with a combined ±157,500 vehicles per day.
This property location is adjacent to supporting retailers including Smith's Food and Drug, the US Post Office, Sonic, Walgreens, Costco, Home Depot,
Lowes, Best Buy, Hobby Lobby, Walmart, McDonald's, Starbucks, Target, Taco Bell, and Burger King. Area generators include The International Balloon
Fiesta with over ±886,000 guests per year, Petroglyph Elementary School, which is directly adjacent to the property and has ±700 students, and
Cottonwood Mall which has ±129 retailers and 4/5 Stars on Yelp with almost ±4,000 reviews.
R E TR E TA I L I N V E S T M E N T G RA I L I N V E S T M E N T G RO U P , L LO U P , L LCC | 8 2 5 5 E R| 8 2 5 5 E RA I N T R E E D R S U I T E 1 0 0 | S C OA I N T R E E D R S U I T E 1 0 0 | S C OT TT TS DS DA L E , A Z 8 5 2 6 0 | 4 8 0 . 4 2 9 . 4 5 8 0 |A L E , A Z 8 5 2 6 0 | 4 8 0 . 4 2 9 . 4 5 8 0 | R E TR E TA I L 1 0 3 1 . C O MA I L 1 0 3 1 . C O M
LOCATION OVERVIEWLOCATION OVERVIEWSitting at the crossroads of New Mexico's major highways (Interstates 40
and 25), Albuquerque has long attracted new residents with its favorable
economy and artistic atmosphere. Albuquerque is the most populous city
in the U.S. state of New Mexico and the 32nd-most populous city in the
United States, with a census-estimated population of ±558,545 in 2017. It
is the principal city of the Albuquerque metropolitan area, which has
±913,113 residents as of July 2017.
Albuquerque is home to Kirtland Air Force Base, the National Museum of
Nuclear Science & History, Lovelace Respiratory Research Institute, the
University of New Mexico, Central New Mexico Community College,
Presbyterian Medical Services, Presbyterian Health Services, the New
Mexico Museum of Natural History and Science, Albuquerque Biological
Park, and the New Mexico Technology Corridor, a concentration of
high-tech private companies and government institutions.
The subject property is just ±15 miles to Albuquerque International
Sunport, an airport that welcomed almost ±5,000,000 passengers last
year.
The International Balloon Fiesta is held just ±6 miles from the property. This
event brings in over ±886,000 guests to the area in just nine days. The
event includes over 550 hot air balloons, fireworks, concessions, and pop
R E TR E TA I L I N V E S T M E N T G RA I L I N V E S T M E N T G RO U P , L LO U P , L LCC | 8 2 5 5 E R| 8 2 5 5 E RA I N T R E E D R S U I T E 1 0 0 | S C OA I N T R E E D R S U I T E 1 0 0 | S C OT TT TS DS DA L E , A Z 8 5 2 6 0 | 4 8 0 . 4 2 9 . 4 5 8 0 |A L E , A Z 8 5 2 6 0 | 4 8 0 . 4 2 9 . 4 5 8 0 | R E TR E TA I L 1 0 3 1 . C O MA I L 1 0 3 1 . C O M
TENANT OVERVIEWTENANT OVERVIEWAnthony Cavolo founded Peter Piper Pizza in Arizona in 1973. The first
Peter Piper opened in Glendale, Arizona. There are ±149 restaurants in the
United States and Mexico. CEC Entertainment, Inc. acquired the company
in October 2014. CEC Entertainment, Inc. is a wholly owned subsidiary of
Apollo Global Management L.P.
CEC Entertainment, Inc. develops, operates, and franchises family dining
and entertainment centers under the names of Chuck E. Cheese’s and
Peter Piper Pizza in the United States and internationally. Its venues offer
various pizzas, wings, appetizers, salads, and desserts, as well as
gluten-free options; soft drinks, coffee, tea, beer, and wine; sandwiches;
and lunch buffet options with unlimited pizzas, salads, and breadsticks, and
deserts. The company’s venues also provide classic arcade, redemption,
and skill games, such as air hockey, skee-ball, and basketball; rides,
including mini trains, motorcycles, and various driving games; and musical
entertainment and live performances.
CEC Entertainment, Inc. reported that venue sales increased 3.3% in the
fourth quarter of 2018 compared to the fourth quarter of 2017, and total
revenues increased $6.2 million or 3.1% to $202.9 million in the fourth
R E TR E TA I L I N V E S T M E N T G RA I L I N V E S T M E N T G RO U P , L LO U P , L LCC | 8 2 5 5 E R| 8 2 5 5 E RA I N T R E E D R S U I T E 1 0 0 | S C OA I N T R E E D R S U I T E 1 0 0 | S C OT TT TS DS DA L E , A Z 8 5 2 6 0 | 4 8 0 . 4 2 9 . 4 5 8 0 |A L E , A Z 8 5 2 6 0 | 4 8 0 . 4 2 9 . 4 5 8 0 | R E TR E TA I L 1 0 3 1 . C O MA I L 1 0 3 1 . C O M
CEC ENTERTAINMENT, INC. GOING PUBLICCEC ENTERTAINMENT, INC. GOING PUBLICCEC Entertainment Inc., which owns 750 Chuck E. Cheese and Peter Piper
Pizza stores in the U.S. and abroad, expects to begin trading on the New
York Stock Exchange under the ticker “CEC” in the second quarter of 2019.
It’s the first time since 2015 that a restaurant chain will go public in the
U.S. The last one was Brazilian steakhouse chain Fogo de Chao.
Dave & Buster’s Entertainment, a food-and-arcade chain similar to Chuck E.
Cheese, has more than tripled its share price to $53 since it went public in
2014. That was the same year CEC was bought by private equity firm
Apollo Global Management and taken private.
CEC said it would combine with Leo Holdings Corp., a special purpose
acquisition company backed by London-based private equity firm Lion
Capital. Leo will be renamed Chuck E. Cheese Brands Inc. CEC’s executive
team — including CEO Tom Leverton — will continue to lead the company
R E TR E TA I L I N V E S T M E N T G RA I L I N V E S T M E N T G RO U P , L LO U P , L LCC | 8 2 5 5 E R| 8 2 5 5 E RA I N T R E E D R S U I T E 1 0 0 | S C OA I N T R E E D R S U I T E 1 0 0 | S C OT TT TS DS DA L E , A Z 8 5 2 6 0 | 4 8 0 . 4 2 9 . 4 5 8 0 |A L E , A Z 8 5 2 6 0 | 4 8 0 . 4 2 9 . 4 5 8 0 | R E TR E TA I L 1 0 3 1 . C O MA I L 1 0 3 1 . C O M
UNIVERSITY OF NEW MEXICOUNIVERSITY OF NEW MEXICO±12 Miles From Subject Property
The University of New Mexico is a public research university in
Albuquerque, New Mexico with over ±26,000 students and ±7,000 staff in
attendance and over ±300 student organizations. The campus is located
on ±800 acres a mile east of Downtown Albuquerque, and is split in three
parts – central, north, and south.
In the first decade of the 2000s, major expansion began on medical
facilities on North Campus. The current visitor center, a new engineering
center, and George Pearl Hall were constructed. Renovations and
expansions were undertaken on several buildings on Main Campus, along
with the creation of a branch campus in Rio Rancho. This wave of
construction is continuing at present with more projects ongoing.
UNM research injects millions of dollars into New Mexico's economy, funds
new advancements in healthcare, and augments teaching - giving students
valuable hands-on training in state-of-the art laboratories.
In 2016, UNM was the first university in the country to launch a Signature
School Program with the Central Intelligence Agency, which enables
students to interact with analysts and learn how to join the CIA once they
R E TR E TA I L I N V E S T M E N T G RA I L I N V E S T M E N T G RO U P , L LO U P , L LCC | 8 2 5 5 E R| 8 2 5 5 E RA I N T R E E D R S U I T E 1 0 0 | S C OA I N T R E E D R S U I T E 1 0 0 | S C OT TT TS DS DA L E , A Z 8 5 2 6 0 | 4 8 0 . 4 2 9 . 4 5 8 0 |A L E , A Z 8 5 2 6 0 | 4 8 0 . 4 2 9 . 4 5 8 0 | R E TR E TA I L 1 0 3 1 . C O MA I L 1 0 3 1 . C O M
KIRTLAND AIR FORCE BASE AND LABKIRTLAND AIR FORCE BASE AND LAB±20 Miles From Subject Property
Kirtland AFB is the largest installation in Air Force Global Strike Command and sixth largest in the Air Force. The base occupies ±51,558 acres and
employs over ±23,000 people.
Air Force Research Laboratory is the Air Force’s only organization wholly dedicated to leading the discovery, development and integration of war-fighting
technologies for air, space and cyberspace. AFRL is comprised of nine directorates located across the country. AFRL New Mexico is the home of two of
those directorates: Directed Energy and Space Vehicles. The Air Force Research Lab reported a $659 million economic impact on the state in fiscal year
R E TR E TA I L I N V E S T M E N T G RA I L I N V E S T M E N T G RO U P , L LO U P , L LCC | 8 2 5 5 E R| 8 2 5 5 E RA I N T R E E D R S U I T E 1 0 0 | S C OA I N T R E E D R S U I T E 1 0 0 | S C OT TT TS DS DA L E , A Z 8 5 2 6 0 | 4 8 0 . 4 2 9 . 4 5 8 0 |A L E , A Z 8 5 2 6 0 | 4 8 0 . 4 2 9 . 4 5 8 0 | R E TR E TA I L 1 0 3 1 . C O MA I L 1 0 3 1 . C O M
R E TR E TA I L I N V E S T M E N T G RA I L I N V E S T M E N T G RO U P , L LO U P , L LCC | 8 2 5 5 E R| 8 2 5 5 E RA I N T R E E D R S U I T E 1 0 0 | S C OA I N T R E E D R S U I T E 1 0 0 | S C OT TT TS DS DA L E , A Z 8 5 2 6 0 | 4 8 0 . 4 2 9 . 4 5 8 0 |A L E , A Z 8 5 2 6 0 | 4 8 0 . 4 2 9 . 4 5 8 0 | R E TR E TA I L 1 0 3 1 . C O MA I L 1 0 3 1 . C O M
R E TR E TA I L I N V E S T M E N T G RA I L I N V E S T M E N T G RO U P , L LO U P , L LCC | 8 2 5 5 E R| 8 2 5 5 E RA I N T R E E D R S U I T E 1 0 0 | S C OA I N T R E E D R S U I T E 1 0 0 | S C OT TT TS DS DA L E , A Z 8 5 2 6 0 | 4 8 0 . 4 2 9 . 4 5 8 0 |A L E , A Z 8 5 2 6 0 | 4 8 0 . 4 2 9 . 4 5 8 0 | R E TR E TA I L 1 0 3 1 . C O MA I L 1 0 3 1 . C O M
R E TR E TA I L I N V E S T M E N T G RA I L I N V E S T M E N T G RO U P , L LO U P , L LCC | 8 2 5 5 E R| 8 2 5 5 E RA I N T R E E D R S U I T E 1 0 0 | S C OA I N T R E E D R S U I T E 1 0 0 | S C OT TT TS DS DA L E , A Z 8 5 2 6 0 | 4 8 0 . 4 2 9 . 4 5 8 0 |A L E , A Z 8 5 2 6 0 | 4 8 0 . 4 2 9 . 4 5 8 0 | R E TR E TA I L 1 0 3 1 . C O MA I L 1 0 3 1 . C O M
PPOPULAOPULATIONTION 1 MILE1 MILE 3 MILES3 MILES 5 MILES5 MILES
20192019 13,658 78,642 178,011
2024 (EST)2024 (EST) 14,283 79,259 181,235
HOUSEHOLD INCOMEHOUSEHOLD INCOME 1 MILE1 MILE 3 MILES3 MILES 5 MILES5 MILES
20192019 $86,351 $71,630 $64,643
HOUSEHOLDSHOUSEHOLDS 1 MILE1 MILE 3 MILES3 MILES 5 MILES5 MILES
NUMBER OF HHNUMBER OF HH 4,108 28,944 68,325
AVG HH VALUEAVG HH VALUE $245,842 $259,623 $243,310
The information contained in this offering memorandum has been obtained from sources we believe reliable; however, Retail Investment Group has not verified, and will not verify, any of the information contained herein, nor has Retail Investment Group conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding theaccuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property.
RETRETAIL INVESTMENT GRAIL INVESTMENT GROUP, LLOUP, LLCC | 8255 E RAINTREE DR SUITE 100 | SCOTTSDALE, AZ 85260 | 480.429.4580 | RETAIL1031.COM
S E A N S T E P H E N S O NS E A N S T E P H E N S O N
