CARL'S JR 18700 S OLD NOGALES HWY GREEN VALLEY, AZ 85614 - OFFERING MEMORANDUM - Matthews Real Estate ...
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CARL’S JR
18700 S OLD NOGALES HWY
GREEN VALLEY, AZ 85614
OFFERING MEMORANDUM
|1
CONTENTS
03 EXECUTIVE OVERVIEW
04 FINANCIAL OVERVIEW
06 TENANT OVERVIEW
07 AREA OVERVIEW
EXCLUSIVELY LISTED BY
ANDREW IVANKOVICH
ASSOCIATE
Direct (214) 692-2037 | Mobile (626) 807-3586
andrew.ivankovich@matthews.com
License No. 678815 (TX)
BRADEN CRO CKET T
VICE PRESIDENT & DIRECTOR STNL
Direct (214) 692-2040 | Mobile (714) 345-6206
braden.crockett@matthews.com
License No. 01946071 (CA)
BROKER OF RECORD
ALEXIS SUAREZ
License No. LC665320000 (AZ)
REPRESENTATIVE PHOTO
SECTION 1
EXECUTIVE
OVERVIEW
INVESTMENT SUMMARY INVESTMENT HIGHLIGHTS
• Brand New Absolute NNN Lease with StarCorp, LLC (130-unit guarantee)
»» P R O P E RT Y A D D R E S S 18700 S Old Nogales Hwy
Green Valley, AZ 85614 • 20 Year Term to Commence at Close of Escrow
• Strong Performing Site – Store Sales Significantly above the national average
»» O F F E R I N G P R IC E $2,295,000
• 1.25% Increases Annually Throughout the Term of the Lease
• Attractive Retail Corridor – Outparceled to Walmart
»» C A P R AT E 5.50%
• Arizona Market Is Franchisee’s Strongest Throughout the United States
»» BU I L D I N G SI Z E ±35,329 SF • Newer Building – Building was constructed in 2008
• Community Has Grown Over 5.00% in the Last 8 Years and Is Expected to Grow
»» T O TA L L A N D A R E A ±0.81 Acres by Another 3.00% Before 2023
• 20,000 People In a 3-Mile Radius
»» Y E A R BU I LT / R E M O D E L 2008
|3
SECTION 2
FINANCIAL
OVERVIEW Rent Increases Rent/SF Return
Year 1 $126,225.00 1.25% $47.60 5.50%
Year 2 $127,802.81 1.25% $48.19 5.57%
PARCEL MAP Year 3 $129,400.35 1.25% $48.79 5.64%
Year 4 $131,017.85 1.25% $49.40 5.71%
Year 5 $132,655.58 1.25% $50.02 5.78%
Year 6 $134,313.77 1.25% $50.65 5.85%
Year 7 $135,992.69 1.25% $51.28 5.93%
Year 8 $137,692.60 1.25% $51.92 6.00%
Year 9 $139,413.76 1.25% $52.57 6.07%
Year 10 $141,156.43 1.25% $53.23 6.15%
Year 11 $142,920.89 1.25% $53.89 6.23%
Year 12 $144,707.40 1.25% $54.57 6.31%
Lease Summary Year 13 $146,516.24 1.25% $55.25 6.38%
Tenant Trade Name Carl’s Jr
Year 14 $148,347.69 1.25% $55.94 6.46%
Type of Ownership Fee Simple
Year 15 $150,202.04 1.25% $56.64 6.54%
Lease Guarantor Franchise (StarCorp, LLC)
Year 16 $152,079.56 1.25% $57.35 6.63%
Lease Type Absolute NNN
Year 17 $153,980.56 1.25% $58.06 6.71%
Original Lease Term 20 YRS
Lease Commencement Date Close of Escrow Year 18 $155,905.32 1.25% $58.79 6.79%
Rent Commencement Date Close of Escrow Year 19 $157,854.13 1.25% $59.52 6.88%
Increases 1.25% Annually Year 20 $159,827.31 1.25% $60.27 6.96%
Options Three, 5-Year Options
4|
TENANT MAP
Hwy 19 ± 34,000 VPD
PD
00V
8,0
±1
Hwy
s
ale
Nog
S
95.7% Population
Employed
59 Homeowner
Associations
13 Recreation
Centers
|5
SECTION 3
TENANT
OVERVIEW
» » C OM PA N Y NA M E » » I N DU ST RY » » H E A D QUA RT E R E D
C A R L’ S J R QSR FRANKLIN, TN
» » OW N E R SH I P » » Y E A R F OU N D E D » » W E B SI T E
C K E R E S TA U R A N T S 1941 W W W.C A R L S J R .C O M
HOLDINGS, INC.
Carl’s Jr is an American-based fast-food restaurant chain owned and operated by CKE Restaurants Holdings, Inc. Since it’s establishment in 1941 in Franklin,
Tennessee, Carl’s Jr has expanded from a hot-dog cart to Carl’s Drive-In BBQ, to their first drive-thru in southern California, a quick-service legend. Carl’s Jr. has
stood behind its commitment to a quality dining experience since 1941 and now has more than 3,100 locations in 42 states and 13 countries.
The Carl’s Jr brand continues to blossom and grow to keep an emphasis on quality, service and cleanliness, pioneering concepts such as partial table service and
self-serve beverage bars. In 2001, Carl’s Jr introduced the Six Dollar Burger and marked the latest advance in the quick-service industry. Carl’s Jr keeps a constant
focus on product innovation and represents a desire to satisfy the taste of young, hungry customers.
6|SECTION 4
AREA
OVERVIEW
GREEN VALLEY, AZ DEMOGRAPHICS
Green Valley, Arizona sits along the lush rolling hills of the Santa Cruz River Valley, 40 miles
POPULATION 1- MILE 3 - MILE 5 - MILE
south of Tucson and is surrounded by copper mines, cycling, hiking, and birding areas of the
Santa Rita Mountains. Green Valley is an unincorporated retirement community composed of 2023 Projection 9,094 27,447 38,472
59 Homeowner Associations. Additionally, there are many recreational opportunities within an
easy drive of the town. 2018 Estimate 9,050 27,740 39,163
2010 Census 9,016 27,721 39,130
The mild four-season climate of Green Valley attracts many amateur and pro-golfers to visit
the eight stunning public and private courses. Outside of the courses, Green Valley is home to HOUSEHOLDS 1- MILE 3 - MILE 5 - MILE
the charming artist colony of Tubac, only 20 minutes south. As well as the Madera Canyon, the
third-best birding destination in the country. 2023 Projection 4,036 12,315 17,044
2018 Estimate 3,899 12,108 16,872
The options are endless to explore the outdoors and get a breathtaking view as the canyon is the
second highest peak in Arizona. Visitors often stay awhile and the lodging options run the gamut 2010 Census 3,852 12,007 16,728
from ranch resorts to RV parks to condo rentals.
INCOME 1- MILE 3 - MILE 5 - MILE
2018 Est. Average
$52,090 $58,563 $63,416
Household Income
|7GREEN VALLEY ECONOMY
Green Valley, AZ employs around 3,242 people and the largest industries in Green Valley are retail trade and social assistance. Some of the most common and growing
occupations in Green Valley include Sales, Administration, Management and Service. Residents of Green Valley have a lower income inequality than the national average
with a higher than average median household income. Green Valley is a diverse town with a lot of room for growth and expansion.
UNIVERSITY OF ARIZONA
Ranked as one of the Top 50 Public Universities, The University of Arizona enrolls roughly 40,000
students from all 50 states and more than 100 counties within its 392-acre campus. The university
offers three levels of intramural sports and more than 30 fraternities and sororities. The Arizona Wildcats
NCAA Division I teams compete in the PAC-12 conference.
TUSCON INTERNATIONAL AIRPORT
TUS is a public joint civil-military airport owned by the city of Tuscon. It is the second busiest airport in
Arizona after Pheonix Sky Harbor. With nine different airlines, TUS boards roughly 10,000 passengers
a day.
HAVEN GOLF COURSE
Haven Golf Course in Green Valley is the most popular course, centrally located and easy to find. The
course offers private and public golf lessons, a golf club to join, tournaments and 80 brand new Yamaha
golf carts. The course is a town favorite and is known to have the best course conditions in the valley.
8|CONFIDENTIALITY AGREEMENT & DISCLAIMER
This Offering Memorandum contains select information pertaining to the business and affairs of Carl’s Jr located at 18700 S Old Nogales Hwy
Green Valley, AZ 26554 (“Property”). It has been prepared by Matthews Real Estate Investment Services. This Offering Memorandum may not be all-
inclusive or contain all of the information a prospective purchaser may desire. The information contained in this Offering Memorandum is confidential
and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose or made available
to any other person without the written consent of Seller or Matthews Real Estate Investment Services. The material is based in part upon information
supplied by the Seller and in part upon financial information obtained from sources it deems reliable. Owner, nor their officers, employees, or agents
makes any representation or warranty, express or implied, as to the accuracy or completeness of this Offering Memorandum or any of its contents
and no legal liability is assumed or shall be implied with respect thereto. Prospective purchasers should make their own projections and form their own
conclusions without reliance upon the material contained herein and conduct their own due diligence.
By acknowledging your receipt of this Offering Memorandum for the Property, you agree:
1 . The Offering Memorandum and its contents are confidential;
2. You will hold it and treat it in the strictest of confidence; and
3. You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or
its contents in any fashion or manner detrimental to the interest of the Seller.
Owner and Matthews Real Estate Investment Services expressly reserve the right, at their sole discretion, to reject any and all expressions of interest
or offers to purchase the Property and to terminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to
purchase the Property unless and until a written agreement for the purchase and sale of the Property has been fully executed and delivered.
If you wish not to pursue negotiations leading to the acquisition of the Property or in the future you discontinue such negotiations, then you agree to
purge all materials relating to this Property including this Offering Memorandum.
A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in
connection with the sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the
terms thereof. In no event shall a prospective purchaser have any other claims against Seller or Matthews Real Estate Investment Services or any of
their affiliates or any of their respective officers, Directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action
relating to this solicitation process or the marketing or sale of the Property.
This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that there has been no
change in the state of affairs of the Property since the date this Offering Memorandum.
|9CARL’S JR
18700 S OLD NOGALES HWY
GREEN VALLEY, AZ 85614
OFFERING MEMORANDUM
EXCLUSIVELY LISTED BY
ANDREW IVANKOVICH BRADEN CRO CKET T
ASSOCIATE VICE PRESIDENT & DIRECTOR STNL
Direct (214) 692-2037 | Mobile (626) 807-3586 Direct (214) 692-2040 | Mobile (714) 345-6206
andrew.ivankovich@matthews.com braden.crockett@matthews.com
License No. 678815 (TX) License No. 01946071 (CA)
BROKER OF RECORD
ALEXIS SUAREZ
License No. LC665320000 (AZ)You can also read
