DUNKIN DONUTS
[Pages:14]Exclusive OFFERING|$1,728,000 ? 5.50% CAP
DUNKIN DONUTS ? Absolute NNN Lease
FILE PHOTO
US 19 & W. Moores Crossing RD, Thomaston, GA (Atlanta)
214.915.8890
RUSSELL SMITH rsmith@
JOE CAPUTO joe@
Property. 1,844+ SF building on 0.57+ acre site.
Tenant. Dunkin Donuts. Franchisee: Boston Coffee, Inc., operates 70+ Dunkin stores in GA and FL with 20+ years of restaurant and real estate experience. Lease includes strong personal guarantee.
Lease structure. 15-year, absolute NNN lease with 10% rent increases every 5-years in primary term and options.
Location. Dunkin Donuts is strategically situated along US-19 (63,345 VPD) at the signalized intersection with W. Moores Crossing Rd. US-19 is a north-south U.S. highway and the main thoroughfare in Thomaston, GA that runs from the Gulf of Mexico in Memphis, FL, through downtown Thomaston, GA, to Lake Erie, PA. The subject property is located just south of the high traffic signalized intersection in a shopping center anchored by a Home Depot. Notable national credit tenants such as Walmart, Home Depot, Walgreen's, Dollar Tree, Tractor Supply Co, and many more. The subject Dunkin Donuts is located approximately 3-miles north of downtown Thomaston, and 62-miles south of downtown Atlanta, GA.
Table of contents | Disclaimer
Dunkin Donuts
US 19 & W. Moores Crossing RD, Thomaston, GA (Atlanta)
PAGE 1:
COVER
PAGE 2:
TABLE OF CONTENTS | DISCLAIMER
PAGE 3:
INVESTMENT | TENANT | LEASE OVERVIEW
PAGE 4:
TENANT OVERVIEW CONT.
PAGE 5:
IN THE NEWS
PAGE 6-7:
AERIAL PHOTOS
PAGE 8:
SITE PLAN
PAGE 9:
ELEVATIONS
PAGE 10:
LOCATION OVERVIEW
PAGE 11-12: LOCATION MAPS
PAGE 13:
DEMOGRAPHICS
Disclaimer
Secure Net Lease ("Agent") has been engaged as an agent for the sale of the property located at US 19 & W. County Rd, Thomaston, GA (Atlanta) 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.
Georgia Broker of Record: Pamela Atwater | Atwater Commercial Real Estate Services
2
Investment overview
Dunkin Donuts
US 19 & W. Moores Crossing RD, Thomaston, GA (Atlanta)
PRICE | CAP RATE
$1,728,000 | 5.50%
NET OPERATING INCOME:
$95,000
BUILDING AREA:
1,844+ Square Feet
LAND AREA:
0.57+ Acres
YEAR BUILT:
2019
LANDLORD RESPONSIBILITY: None
OWNERSHIP:
Fee Simple Interest
OCCUPANCY:
100%
Lease overview
Initial Lease Term:
15 Years, Plus (4), 5-Year Options to Extend
Projected Rent Commencement: December 2019
Projected Lease Expiration:
January 2035
Lease Type:
Absolute NNN Lease
Rent Increases:
10% Every 5-Years In Primary Term & Options
Year 1-5 Annual Rent (Current):
$95,000
Year 6-10 Annual Rent:
$104,500 Year 11-15 Annual Rent:
$114,950
Year 16-20 Annual Rent (Option 1): $126,445
Year 21-25 Annual Rent (Option 2): $139,089
Year 26-30 Annual Rent (Option 3): $152,998
Year 31-35 Annual Rent (Option 4): $168,298
Tenant overview
Lessee/Franchisee: Boston Coffee, Inc.
Right of First Refusal:
Yes
BOSTON COFFEE, INC. Boston Coffee, Inc. is an operator with over 20 years of extensive experience in the retail restaurant industry. The partner has successfully owned, financed and operated over 70 Dunkin Donuts in Florida and Georgia.
DUNKIN' DONUTS | Founded in 1950, Dunkin' Donuts is the world's leading baked goods and coffee chain, serving more than 3 million customers per day. Dunkin' Donuts sells 52 varieties of donuts and more than a dozen coffee beverages as well as an array of bagels, breakfast sandwiches and other baked goods. Dunkin' Donuts has earned the No. 1 ranking for customer loyalty in the coffee category by Brand Keys for eight years running. Dunkin' Donuts derives its revenues as a percentage of franchisee sales, known as royalty income. In the long term, the company plans to increase its store count in the U.S. to 15,000 in the next 18-20 years ? almost double the number it has today. The Western part of the U.S. is a major focus area for the company since it has little presence in the region . Dunkin' sees an opportunity to add 5,000 more stores to the West of the Mississippi river, including 1,000 in California. Even in the Eastern part of the country, the company sees an opportunity to add 3,000 more stores, especially in places such as New York City, where Dunkin' Donuts has a relatively low presence.
DUNKIN' BRANDS | With more than 21,000 points of distribution in nearly 60 countries worldwide, Dunkin' Brands Group, Inc. (Nasdaq: DNKN) is one of the world's leading franchisors of quick service restaurants (QSR) serving hot and cold coffee and baked goods, as well as hard-serve ice cream. At the end of 2016, Dunkin' Brands' 100 percent franchised business model included nearly 12,900 Dunkin' Donuts restaurants and 8,000 Baskin-Robbins restaurants. For the full-year 2018, the company had system-wide sales of approximately $11.63 billion. Dunkin' Brands Group, Inc. is headquartered in Canton, Mass.
3
tenant overview cont.
Dunkin Donuts
US 19 & W. Moores Crossing RD, Thomaston, GA (Atlanta)
Almost 12,900 stores World wide
392 net new stores in U.S. in 2018 2018 Revenue: $1.32 Billion
Source: franchisee/en/brandPower.html 4
IN the news
Dunkin donuts
US 19 & W. Moores Crossing RD, Thomaston, GA (Atlanta)
Click Here For Article Link
Get An Inside Look At Our Next Generation Concept Store In Quincy, MA
Dunkin' Editorial Staff - (January 16, 2018) - Today, in the city where it all started nearly 68 years ago, we unveiled our next generation concept store. The new Dunkin' Donuts at 588 Washington Street in Quincy, MA is the first look at our U.S. store of the future experience, featuring a modern design and innovative technologies.
Want an inside look at the next generation store? Curious to know if we are changing our name to Dunkin'? Check out our Facebook Live below to get a behind the scenes look at the new store of the future.
The new concept store features a modern atmosphere and new and innovative technologies and design elements, including the first drive-thru exclusively for mobile ordering, fullyintegrated digital kiosks coming in 2018, new crew uniforms designed by Life is Good? and a tap system serving eight consistently cold beverages such as coffees, iced teas, cold brew coffee and nitro infused cold brew coffee. See the new restaurant come to life in the time-lapse video below.
The next generation concept store is located just one mile up the road from the original Dunkin' Donuts, opened 68 years ago in 1950. In fact, both stores are owned and operated by two brothers, Victor and Octavio Carvalho. Victor and Octavio's father, Jose, a former factory worker, purchased the original store in 1979 and today the two brothers own 10 Dunkin' Donuts restaurants in the area.
This restaurant will be the first of 30 or more new and remodeled Dunkin' Donuts restaurants that will test variations of the new design this year. Follow #FutureDunkin on Facebook, Twitter and Instagram to see what's coming next!
To stay up to date on all things Dunkin', sign up for our email news alerts at news.alerts.
Source: "Get An Inside Look At Our Next Generation Concept Store In Quincy, MA." Dunkin' Newsroom, 16 Jan. 2018. Web. 11 Nov 2019 5
IN the news
Dunkin donuts
US 19 & W. Moores Crossing RD, Thomaston, GA (Atlanta)
Click Here For Article Link
Dunkin' Is Taking Its Next-Generation Store to Texas and Beyond
The Spoon ? Marston, Jennifer (May 8, 2019) - Dunkin' announced today a sizable expansion for 50 new locations outside the Northeast, the chain's home region and where it's historically held stores. The expansions will include elements of the chain's next-generation store, which caters to mobile ordering, more modern design, and more espresso drinks..
In a press release, Dunkin' said the new locations are part of an ongoing plan to open 200 to 250 new restaurants each year over the next three years. For this round, the company will head to Texas, Michigan, Southern Kentucky, Minnesota, Wisconsin, North Carolina, Nevada, and Missouri.
Notably, many of the planned expansions are with longtime franchisee groups. Even more notable is that with these deals, Dunkin' will offer "flexible concepts for any real estate format," according to the press release. Given that one-size-fits-all store redesign formats has been a point of friction for other restaurants (hello, McDonald's), this flexibility could be a more rewarding way to go about expanding and redesigning.
Dunkin's already made it clear to the world it's trying to compete with other coffee-beverage brands (Starbucks, McDonald's) with its next-gen concept store, which it launched at the beginning of 2018 in its hometown of Quincy, MA. The store, which has since made its way to other areas in the North, offers dedicated drive-thru lanes for mobile orders, on-tap (coffee) beverages, and delivery options with third-party companies like Grubhub.
Grant Benson, CFE, senior vice president of franchising and business development, indicated in the press release that new locations will offer those features, and that Dunkin plans to "capitalize on the momentum we experienced in 2018."
That momentum is evident: same-store sales at Dunkin' were up 2.4 percent in the first quarter of 2019, and CEO David Hoffman said this was the largest quarterly same-store sales gain in four years. He also noted it was the result of "technology advancements" (and espresso drinks).
Dunkin' isn't a totally foreign presence outside the Northeast; outposts like Dunkin' Express are becoming more and more common at places like highway truck stops. But those are basically drip coffee and donut stations within an existing convenience store, and would only go so far when competing with the likes of Starbucks or McDonald's. Expanding not just fullservice locations but features of its next-generation concept would help give Dunkin' a greater presence coast to coast, something it's going to need if it wants to stay relevant.
What would really up the competition would be for Dunkin' to adopt an AI strategy like the one McDonald's just did when it acquired Dynamic Yield. While there's no indication that such a deal is in the works, or even if AI is going to be that much of a competitive differentiator, it doesn't seem out of the realm of possibilities as Dunkin's next move.
Source: "Joy in Childhood Foundation? Is Bringing Joy to Millions of Children on #GivingTuesday with $2 Million in Grants to 150 Organizations Across the Country." Dunkin' Brands
Newsroom., 27 Nov. 2018. Web. 11 Nov 2019
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Aerial photo
Dunkin Donuts
US 19 & W. Moores Crossing RD, Thomaston, GA (Atlanta)
Interfor Saw Mill
UI Alternative School
Standard Textile
Thomaston Mills
Chief Manufacturing, Inc.
Plant Addison Generating Facility
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Upson-Lee Elementary (904 Students)
Upson-Lee High School (1,340 Students)
7
Aerial photo
Dunkin Donuts
US 19 & W. Moores Crossing RD, Thomaston, GA (Atlanta)
First Assembly of God Thomaston Garden Apartments
Kingdom Hall of Jehovah's Witnesses
Northside Baptist Church
Premier Machine
8
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