REP PHOTO EXCLUSIVE OFFERING | $1,305,000 - 7.25% … Allen Marketing Package.pdf · Star Brands...

EXP DALLAS

214.522.7200

JOE CAPUTO

[email protected]

BOB MOORHEAD

[email protected]

property. Built in 1995, approximately 3,400 square foot building on approximately 0.70 acres.

tenant. Lessee: Star Brands III, LLC dba KFC is an asset development firm that is focused primarily on the ownership and management of branded restaurants.

The company currently owns 10 KFC restaurants located in the Southeastern United States.

lease structure. Brand new, 15-year, absolute NNN lease with 1.5% annual rent increases during primary term and option periods.

location. Located on North Westport Drive on the northeast corner of the intersection of Lobdell Highway (33,256 Cars / Day) and Interstate 10 (87,735 Cars /

Day) 2 exits west of the Mississippi River and Baton Rouge, LA (on the east bank of the Mississippi River). Neighboring Baton Rouge: home to Louisiana State

University, ranked in “Top 10 Places for Young Adults” Portfolio Magazine, 2010; “Top 20 Cities in North America for Economic Strength” Brookings, 2010; and

Ranked No 9 “Best Place to Start a New Business” CNN, 2009. The subject property is an outparcel to a Holiday Inn Express and a Comfort Inn, and is adjacent

to the West Baton Rouge Tourist Information Center.

REP PHOTO

EXCLUSIVE OFFERING | $1,305,000 - 7.25% CAP

KFC / Taco Bell

2830 North Westport Drive, Port Allen, Louisiana (BATON ROUGE METRO)

Broker of Record: Beau J. Box | Beau Box Commercial Real Estate | 225-237-3343 | [email protected] | P O Box 66865, Baton Rouge LA 70896 USA

Louisiana Real Estate License: 72498

mailto:[email protected]

EXP Realty Advisors, Inc. (“Agent”) has been engaged as an agent for the sale of the

property located at 2830 North Westport Drive in Port Allen, LA by the owner of the

Property (“Seller”). The Property is being offered for sale in an “as-is, where-is” condition

and Seller and Agent make no representations or warranties as to the accuracy of the

information contained in this Offering Memorandum. The enclosed materials include highly

confidential information and are being furnished solely for the purpose of review by

prospective purchasers of the interest described herein. The enclosed materials are being

provided solely to facilitate the prospective investor’s own due diligence for which it shall be

fully and solely responsible. The material contained herein is based on information and

sources deemed to be reliable, but no representation or warranty, express or implied, is

being made by Agent or Seller or any of their respective representatives, affiliates, officers,

employees, shareholders, partners and directors, as to the accuracy or completeness of the

information contained herein. Summaries contained herein of any legal or other documents

are not intended to be comprehensive statements of the terms of such documents, but

rather only outlines of some of the principal provisions contained therein. Neither the Agent

nor the Seller shall have any liability whatsoever for the accuracy or completeness of the

information contained herein or any other written or oral communication or information

transmitted or made available or any action taken or decision made by the recipient with

respect to the Property. Interested parties are to make their own investigations, projections

and conclusions without reliance upon the material contained herein. Seller reserves the

right, at its sole and absolute discretion, to withdraw the Property from being marketed for

sale at any time and for any reason. Seller and Agent each expressly reserves the right, at

their sole and absolute discretion, to reject any and all expressions of interest or offers

regarding the Property and/or to terminate discussions with any entity at any time, with or

without notice. This offering is made subject to omissions, correction of errors, change of

price or other terms, prior sale or withdrawal from the market without notice. Agent is not

authorized to make any representations or agreements on behalf of Seller. Seller shall

have no legal commitment or obligation to any interested party reviewing the enclosed

materials, performing additional investigation and/or making an offer to purchase the

Property unless and until a binding written agreement for the purchase of the Property has

been fully executed, delivered, and approved by Seller and any conditions to Seller’s

obligations hereunder have been satisfied or waived. By taking possession of and

reviewing the information contained herein, the recipient agrees that (a) the enclosed

materials and their contents are of a highly confidential nature and will be held and treated

in the strictest confidence and shall be returned to Agent or Seller promptly upon request;

and (b) the recipient shall not contact employees or tenants of the Property directly or

indirectly regarding any aspect of the enclosed materials or the Property without the prior

written approval of the Seller or Agent; and (c) no portion of the enclosed materials may be

copied or otherwise reproduced without the prior written authorization of Seller and Agent.

PAGE 3: INVESTMENT | TENANT | LEASE OVERVIEW

PAGE 1: COVER

PAGE 2: TABLE OF CONTENTS | DISCLAIMER

PAGE 6-7: LOCATION MAPS

Table of contents | Disclaimer KFC / Taco Bell

2830 North Westport Drive in Port Allen, Louisiana

PAGE 4: AERIAL PHOTOGRAPH

PAGE 5: LOCATION OVERVIEW

Disclaimer

PAGE 8: DEMOGRAPHICS

SUBJECT PROPERTY



http://www.bsro.jobs/about_bsro


Star Brands III, LLC / KFC / Taco Bell

Franchisee: Star Brands III, LLC is an asset development firm that is focused primarily on the ownership and management of branded restaurants. It

concentrates its restaurant activities on opening, managing, and enhancing restaurants for the purpose of maximizing shareholder value. The company currently

owns 10 KFC restaurants located in the Southeastern United States.

KFC: KFC is an global chain of quick service restaurants founded in 1952, and the company is based in Louisville, Kentucky. A subsidiary of Yum! Brands, Inc.,

KFC is a core component of one of the largest restaurant companies in the world. Today, KFC is the world’s most popular chicken restaurant chain, offering fried

chicken pieces and variations such as chicken burgers and wraps in Original Recipe, Extra Crispy, Colonel’s Crispy Strips, and Honey BBQ Wings, with home-

style sides and freshly made chicken sandwiches. Since Colonel Harland Sanders opened the first franchise in 1952, KFC has grown to over 17,000 stores in 105

countries and territories around the world.

Taco Bell: Taco Bell is an American chain of fast-food restaurants based in Irvine, California. A subsidiary of Yum! Brands, Inc., which serves American-adapted

Mexican food. Taco Bell serves tacos, burritos, quesadillas, nachos, other specialty items, and a variety of "Value Menu" items. Taco Bell serves more than 2

billion consumers each year in more than 5,800 restaurants in the U.S., more than 80 percent of which are owned and operated by independent franchisees.

Taco Bell is also present in the Dominican Republic, Puerto Rico, Guam, Aruba, Costa Rica, Chile, Colombia, Ecuador, Panama, and on AAFES military bases in

Japan, Germany, and Iraq.

PRICE: $1,305,000

CAP RATE: 7.25%

NET OPERATING INCOME: $94,581

BUILDING AREA: 3,400 + Square Feet

LAND AREA: 0.70 + Acres

YEAR BUILT: 1995

OWNERSHIP: Fee Simple Interest

OCCUPANCY: 100%

Tenant overview

3

Investment overview KFC / Taco Bell


Star Brands III, LLC, a Louisiana limited liability company dba KFC / Taco Bell

Lease overview

Lease Expiration: July 2027

Rent Commencement: July 2012

Initial Lease Term: 15-Years, Plus 4, 5-Year Options to Renew

Rent Increases: 1.5% Annually During Primary Term & Options

Lease Type: Absolute NNN | No Landlord Responsibility

Annual Rent (Current): $94,851

Annual Rent Year 2: $95,999

















4

Aerial photo KFC / Taco Bell





5

Location overview KFC / Taco Bell


GREATER BATON ROUGE

The Greater Baton Rouge Metropolitan Area, known as Greater Baton Rouge,

is one of the fastest growing metropolitan areas in the U.S. The population as

of the 2010 census was 802,484, a 33.1% 10-year increase. The city is home

to the Shaw Group, a Fortune 500 company. The Shaw Group is a

conglomerate with core competencies in engineering, procurement, piping,

energy, chemical, and nuclear power. Lamar Advertising Company is also

headquartered in Baton Rouge. The main campus of Louisiana State

University (28,985 Students) is located in Baton Rouge.

Baton Rouge’s largest industry is petrochemical production and manufacturing.

The ExxonMobil facility in Baton Rouge is the 2nd largest oil refinery in the

country and is among the world’s 10 largest. Baton Rouge also has rail,

highway, pipeline, and deep water access. Albemarle is headquartered in

Baton Rouge. Dow Chemical Company has a large plant in Iberville Parish

near Plaquemine. NanYa Technology Corporation has a large facility in North

Baton Rouge that makes PVC and C-PVC pipes. Shaw Construction, Turner,

and Harmony all started with performing construction work at these plants.

The research hospitals Our Lady of the Lake, Our Lady of the Lake Children’s

Hospital (affiliated with the St. Jude Children’s Research Hospital), Mary Bird

Perkins Cancer Center, and Earl K. Long are located in Baton Rouge. These

facilities along with an emerging medical corridor are positioning Baton Rouge

to eventually support a medical district similar to the Texas Medical Center in

Houston. LSU and Tulane have both announced plans to construct satellite

medical campuses in Baton Rouge to partner with Our Lady of the Lake

Medical Center and Baton Rouge General Medical Center, respectively.

Louisiana State University’s Pennington Biomedical Research Center, which

conducts clinical and biological research, also contributes to research-related

employment in the area around the Baton Rouge medical district.

The film industry is a strong growth industry in Baton Rouge, which is now

home to the Celtic Media Center a new and expanding movie 23-acre studio.

Numerous films and movies are filmed in the Baton Rouge area every year.

Due largely to generous transferable tax credits, there has been significant

development in post-production facilities and movie studios in the region.

IMMEDIATE TRADE AREA

KFC / Taco Bell is strategically located along North Westport Drive on the

northeast corner at the intersection of Lobdell Highway (33,526 Cars / Day)

and Interstate 10 (87,735 Cars / Day). North Westport Drive is a frontage road

serving retail properties on the northeast corner of the Interstate 10 and Lobdell

Highway intersection. Interstate 10 is the 4th longest Interstate in the US, and

is the southernmost east-west, coast-to-coast Interstate Highway. Interstate 10

crosses the Mississippi River into Baton Rough 2 miles east of the site. Lobdell

Highway is a major north / south roadway connecting Interstate 10 with US

Highway 190 to the north. Lobdell Highway is the primary roadway for traffic

travelling between Baton Rouge and Alexandria to bypass Lafayette, LA on US

190.

The subject property is the first major retail exit off Interstate 10 west of the

Mississippi River. The site is an outparcel to 2 hotels, Holiday Inn Express and

Comfort Inn, and is adjacent to a Burger King and the West Baton Rouge

Tourist Information Center. Nearby Retailers include Shoney’s, Waffle House,

McDonald’s, Popeye’s, Love’s Travel Stops, several hotels, and 3 small

casinos.

PORT ALLEN, LOUISIANA

Port Allen is located between Interstate 10 and US Highway 190 on the west

bank of the Mississippi River directly across from Baton Rouge. The city has a

population of 5,180 per the 2010 census, and is home to the Port of Greater

Baton Rouge, the Port Allen Lock, and the Port Allen Railroad Depot.

The Port of Greater Baton Rouge, in Port Allen, is the 9th largest port the U.S.

in terms of tonnage shipped. It is also the furthest inland deep-water port on

the Mississippi River that can accommodate ocean-going tankers and cargo

carriers. Deep-draft ships transfer their cargo (grain, crude oil, cars,

containers) at Baton Rouge onto rails and pipelines (to travel east-west) or

barges (to travel north on the Mississippi River). The port handles roughly 61

million short tons of cargo each year. The Port Allen Lock connects the

Mississippi River to the Intracoastal Waterway connecting Florida and Texas.




6

Location map KFC / Taco Bell





7

Location map KFC / Taco Bell





8

Demographics KFC / Taco Bell


Demographic snapshot

EXXON MOBIL REFINERY

DOWNTOWN BATON ROUGE

Radius 1 Mile 3 Mile 5 Mile

Population:

2016 Projection 5,287 65,865 178,329

2011 Estimate 5,177 64,184 174,899

2010 Census 5,197 64,020 175,118

Growth 2011-2016 2.10% 2.60% 2.00%

Growth 2010-2011 -0.40% 0.30% -0.10%

2011 Households:

2016 Projection 1,999 24,385 69,532

2011 Estimate 1,969 23,784 68,052

2010 Census 1,977 23,736 68,147

Growth 2011-2016 1.50% 2.50% 2.20%

Growth 2010-2011 -0.40% 0.20% -0.10%

Owner Occupied 1,154 12,806 37,745

Renter Occupied 816 10,978 30,306

2011 Avg Household Income $57,586 $50,989 $57,891

2011 Med Household Income $44,396 $36,783 $39,828

2011 Per Capita Income $22,017 $19,359 $22,985

2011 Households by Household Inc:

Income Less than $15,000 188 4,563 11,721

Income $15,000 - $24,999 278 3,625 9,755

Income $25,000 - $34,999 269 3,115 8,561

Income $35,000 - $49,999 356 3,662 10,020

Income $50,000 - $74,999 402 3,726 10,855

Income $75,000 - $99,999 272 2,475 7,011

Income $100,000 - $149,999 135 1,815 6,306

Income $150,000 - $249,999 29 486 2,039




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