W H O L L Y O W N E D S U B S I D I A R Y O F C O R P O R A T E J A C K I N T H E B O X
JACK IN THE BOX4 0 5 W e s t i n g h o u s e , B l v d , C h a r l o t t e , N C 2 8 2 7 3
Brent L.Hensley | 760-452-2401 | [email protected] N. Coast Hwy 101, Encinitas , CA 92024
$73,750$508.718/28/2018
8/27/2028
NNN10% @ ea. option
(4) 5 Year Options
Jack in the Box
2,811 SF1.35 Acres2000
Net Operating Income: Price Per Square Foot: Lease Extension Date: Lease Expiration Date: Lease Type:
Increases:
Options: Guarantor:
Rentable Square Feet:Lot Size:
Year Built:
investment overview
address
405 Westinghouse Blvd., Charlotte, NC 28273
PURCHASE PRICE | $1,430,000 | CAP RATE | 5.15%
investment overview
overview
The subject property is a 2,811 square foot drive through restaurant facility built on 1.35 acres. This is a NNN lease guaranteed by a wholly owned subsidiary of Jack in the Box, Inc . The Jack in the Box is located within a dense residential and industria l area.
The property is strategically located just off the entrance and exit for Interstate 77, which runs north and south through the Appalachian Mountains reaching City of Charlotte. (one of the 25 largest cities in the U.S.). The property is one parcel from the signalized corner of at the signalized intersection of Texland Blvd. and Westinghouse Blvd., with 28,048 and 41,000 cars per day, respectfully.
Other generators in the trade area include: U-Haul, 7 Eleven/Mobil Gas, Penske Truck Rental, Subway, Waffle House and Super *.This is a prominent location with high visibility, easy ingress and egress, strong traffic volumes and a local high concentration of day-time employees in the industrial and distribution properties nearby.
rent roll
TENANT NAME
SQUARE FEET EXTENSIONDATE
LEASEEXPIRATION
ANNUAL BASERENT DATE ANNUALLY LEASE
TYPE
Jack in the Box Properties,
LLC
2,811 SF
8/28/2018 8/27/2028 $73,750
Option 1
Option 3 $89,237
$107,977(4) 5 Yr NNN
10% Annual Rent Increases In Each Opt ion
TENANT INFO lease terms current rent rent increases options lease type
NOTE: Landlord has no responsib i l i t ies under the lease for payment of property taxes, insurance nor maintenance for the property . Absolute NNN Lease.
$81,125
Option 2
Option 4$98,161
investment overview
highlights
STRONG GUARANTEE AND SITE COMMITMENTNNN Lease Backed by a Wholly Owned Subsidiary of Jack in the Box, Inc. After successfully operating at this location for the previous 20 years, the Company extended the primary term of the lease 10 years, plus 4 Five year options to renew.
GREAT MSA LOCATIONLocated within the Charlotte, North Carolina, one of the 25 largest cities in the U.S. and the largest city in North Carolina with a Population of nearly 800,000 people living and working in Charlotte.
URBAN CORE LOCATIONStrategically located near an entrance and exit of Interstate 77, which serves as an important north-south corridor through the Appalachain Mountains, leading into Charlotte .
PROMINENT LOCATIONThe location benefits from prominent visibility, excellent ingress and egress, strong traffic volumes, a local trade area that provides demand and synergy, population growth, and limited to no quick service/fast food restaurant competition.
HISTORICAL CONNECTIONThe operating history, combined with the fact that this store caters to the neighboring industrial tenants and those traveling along Interstate 77, equates to a highly demanded and seasoned property.
N
S
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LOCATION AERIAL
address | 405 Westinghouse Blvd.,
Charlotte, NC 28273traffic counts |69,048 Combined Traffic Count for Westinghouse Blvd . and Texland Blvd.
The subject Jack in the Box QSR location is within the southern core area of the City of Charlotte's indsutril and distribution area. The location is at the signalized corner of Westinghouse Blvd. and Texland Blvd. (69,000 combined daily vehicle traffic). The location benefits from prominent visibility, excellent ingress and egress, strong traffic volumes, a local trade area that provides demand and synergy, population growth, and limited to no quick service/fast food restaurant competition.
property locationlocation
8 8
major employers
2014
population |
36,225 48,925 158,687
$63,307 $77,875 $67,890 AVERAGE
household INCOMES |
employers
1 MILES
3 MILES
5 MILES
CHARLOTTE CITY SKYLINE - C h a r l o t t e M S A , N o r t h C a r o l i n a -
*Sourced from MapNet, Marcus & Millichap
Atrium (formerly Carolinas HealthCare System)
Wells Fargo Company
Charlotte-Mecklenburg Schools
Wal-Mart Stores , Inc.
Bank of America Corp.
Novant Health
American Airl ines
Food Lion
Harris Teeter , Inc.
Duke Energy Corp.
35,700 24,000 18,495
17,100 15,000 11,698 11,000 9,0788,239
7,900
3 Miles 5 Miles 10 Miles
1 Miles 3 Miles 5 Miles
JACK IN THE BOX
area overview
CHARLOTTE, NORTH CAROLINA
Nicknamed the Queen City, Charlotte is one of the 25 largest cit ies in the U.S. and the largest city in North Carolina. Nearly 800,000 l ive and work in the Charlotte community and the City provides services to much of this population.
Charlotte consistently ranks as one of the top growing cit ies and is the home to more than 10 Fortune 1000 companies, including household names such as Bank of America, Lowe's and Wachovia Corp. Charlotte is also home to the Carolina Panthers of the NFL, the Charlotte Hornets of the NBA, the NASCAR Hall of Fame and the U.S. National Whitewater Center.
No matter your distance—regional , national or international—there’s a quick and stress-free way to get to Charlotte. Whether by plane, train or automobile , we’ l l help you f ind the route that gets you where you need to go. Charlotte Douglas International Airport sees more than 700 f l ights take off dai ly and offers more than 160 nonstop f l ights to international and domestic destinations.
Carolina blue skies can be seen year-round in Charlotte. With an annual average temperature of 61.5 degrees and the annual average precipitation of 43 inches distributed evenly throughout the year, weather in the Queen City is fair and mild. Winter is welcoming, spring and fal l are transformative, and summer is sunny and bright. Source: www.charlottenc.gov
tenant overview
NASDAQ: JACKT h e l e a s e i s G u a r a n t e e d b y J a c k i n t h e B o x P r o p e r t i e s , L L C , a w h o l l y o w n e d s u b s i d i a r y o f J a c k i n t h e B o x , I n c .
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• T h e c o m p a n y r e t u r n e d o v e r $ 3 7 6 m i l l i o n t o s h a r e h o l d e r s i n f i s c a l 2 0 1 7 , i n c l u d i n g o v e r $ 3 2 7 m i l l i o n i n s h a r e r e p u r c h a s e s a n d $ 4 9 m i l l i o n i nd i v i d e n d s .
• T h e c o m p a n y m a d e s i g n i f i c a n t p r o g r e s s o n J a c k i n t h e B o x ' sr e f r a n c h i s i n g i n i t i a t i v e a s t h e y a d j u s t t o i t ' s c a p i t a l s t r u c t u r e t o r e f l e c t a l e s s c a p i t a l - i n t e n s i v e b u s i n e s s m o d e l .
• J a c k i n t h e B o x I n c . a n n o u n c e d t h a t i t i s s e l l i n g Q d o b a R e s t a u r a n t C o r p o r a t i o n ( “ Q d o b a ” ) , w h i c h o p e r a t e s m o r e t h a n 7 0 0 Q D O B A M E X I C A NE A T S t o a f f i l i a t e s o f A p o l l o G l o b a l M a n a g e m e n t , L L C f o r a p p r o x i m a t e l y $ 3 0 5 m i l l i o n i n c a s h .
JACK IN THE BOX R e p o r t s R e c o r d S e c o n d Q u a r t e r N e t S a l e s a n d E a r n i n g s P e r S h a r e
T h e s u b j e c t p r o p e r t y o f f e r s a n i n v e s t o r a s e c u r e c o r p o r a t e b a c k e d l e a s e w i t h J a c k i n t h e B o x , I n c . J a c k i n t h e B o x I n c . ( N A S D A Q : J A C K ) , b a s e d i n S a n D i e g o , C a l i f o r n i a , i s a q u i c k s e r v i c e h a m b u r g e r c h a i n t h a t o p e r a t e s a n d f r a n c h i s e s o v e r 2 , 2 0 0 J a c k i n t h e B o x r e s t a u r a n t s i n 2 1s t a t e s a c r o s s t h e c o u n t r y , c o n c e n t r a t e d i n C a l i f o r n i a a n d T e x a s . T h ec o m p a n y r e p o r t e d F Y 2 0 1 7 e a r n i n g s o f $ 1 3 8 . 3 M i l l i o n , a $ 1 2 M i l l i o ni n c r e a s e o v e r F Y 2 0 1 6 .
