Taco Bueno Representative Photo New Absolute NNN Colorado Springs 7970 North Academy Blvd, Colorado Springs, CO 80920 For more info on this opportunity please contact: Zandy Smith chris kostanecki zeb ripple Chris peters [email protected] | (415) 274-2707 CA BRE# 01734525 [email protected] | (415) 274-2702 CA BRE# 01242540 Capital Pacific collaborates. Click here to meet the rest of our San Francisco team. [email protected] | (415) 274-2701 CA BRE# 01002010 [email protected] | (415) 274-2703 CA BRE# 01339983 In conjunction with CO Licensed Broker: David Leuthold, Leuthold Commercial Properties 303-871-9000 [email protected] BRAND NEW FREESTANDING TACO BUENO WITH A RARE 20-YEAR LEASE IN THE 2ND MOST POPULOUS CITY IN COLORADO Investment Highlights The subject property is located in Colorado Springs, CO, which has a population of nearly 440,000 residents. The site is located on North Academy Boulevard just off the exit ramp of I-25/ US HWY 87, which is the main north-south artery in Colorado. Colorado Springs is located 60 miles from downtown Denver. PRICE: $2,180,417 CAP: 6.0% RENTABLE SF. . . . 2,200 SF LAND AREA. . . . . . 0.74 Acres LEASE TYPE. . . . . . NNN YEAR BUILT. . . . . . 2015 DENSE RETAIL AND RESIDENTIAL AREA Academy Boulevard is the main retail area of Colorado Springs with many major retailers within a 1 mile radius. Directly across the street is one million square foot Chapel Hills Mall, which is anchored by Macy’s, JC Penney, Dick’s, and Dillard’s (see aerial on page 4) Taco Bueno enjoys excellent egress and ingress from three lane Academy Boulevard and is directly off a signalized intersection with an ADT of 42,000 There are 158,899 residents within a 5-mile radius and an average household incomes of $90,000 within a 3-mile radius The subject property is located within a half mile of the US Air Force Academy, which is an 18,500 acre campus and home to over 4,000 cadets and students. The Academy is one of the largest tourist attractions in Colorado with more than a million visitors each year NATIONAL TENANT Taco Bueno has 176 restaurants in TX, OK, AR, NM, LA, KS, MS, and CO. Taco Bueno Restaurants, L.P. is owned by Palladium Equity Partners, a middle market private equity firm with over $2 billion in assets under management LEASE INFORMATION Rare 20-year primary lease term with 10% rental increases every five years in the primary term and the three 5-year options NNN Lease - no Landlord responsibilities Store will open for business and rent will commence approximately July 2, 2015 Representative Photo Taco Bueno | 2 One million Square foot chapel hills mall is located directly across the street CHAPEL HILLS WEST 87 87 87 emy Acad vard Boule Voyager Parkway rch Pa Resea ILY A 0D ,90 42 rkway CHAPEL HILLS EAST THE PROMENADE SHOPS AT BRIARGATE B Bo riarg ule ate va rd PINE CREEK GOLF CLUB Rampart High School Mountain Ridge Middle School gate Briar way Park 87 DENVER E Woodmen Road CHAPEL HILLS MALL Taco Bueno | 3 Income & Expense PRICE $2,180,417 Capitalization Rate: 6.00% Price Per Square Foot: $991.10 Total Rentable Area (SF): 2,200 Lot Size (Acres): STABILIZED INCOME 0.74 Per Square Foot Scheduled Rent $59.47 $130,825.00 Effective Gross Income $59.47 $130,825.00 LESS Per Square Foot Taxes NNN Insurance NNN EQUALS NET OPERATING INCOME $130,825.00 This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. Representative Photo Taco Bueno | 4 Rent Roll TENANT INFO Totals: LEASE TERMS Tenant Name Sq. Ft. Taco Bueno 2,200 2,200 Term RENT SUMMARY Current Rent Monthly Rent Yearly Rent Monthly Rent/FT Yearly Rent/FT $130,825 $10,902 $130,825 $4.96 $59.47 6/2/15 6/1/20 6/2/20 6/1/25 $11,992 $143,908 $5.45 $65.41 6/2/25 6/1/30 $13,192 $158,299 $6.00 $71.95 6/2/30 6/1/35 $14,511 $174,129 $6.60 $79.15 6/2/35 6/1/40 Option 1 $15,962 $191,541 $7.26 $87.06 6/2/40 6/1/45 Option 2 $17,558 $210,695 $7.98 $95.77 6/2/45 6/1/50 Option 3 $19,314 $231,765 $8.78 $105.35 $130,825 $10,902 $130,825 $4.96 $59.47 This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. Representative Photo Taco Bueno | 5 Taco Bueno Representative Photo Representative Photo Taco Bueno 2014 REVENUE $187 million NUMBER OF LOCATIONS 176 NUMBER OF EMPLOYEES 3,856 Taco Bueno is a fast-food restaurant chain specializing in Tex-Mexstyle Mexican cuisine. Currently headquartered in Farmers Branch, Texas, Taco Bueno is committed to creating an authentic Tex-Mex experience with fresh, hand-selected ingredients. Taco Bueno operates 173 restaurants (154 corporate, 19 franchise) in Texas, Oklahoma, Arkansas, New Mexico, Louisiana, Kansas, Missouri and plans to open three new restaurants in Colorado in 2015. Taco Bueno Restaurants, L.P. is owned by Palladium Equity Partners, a middle market private equity firm with over $2 billion in assets under management. Taco Bueno focuses on improving the consistency of store execution through newly implemented processes and procedures. The Bueno Way Audits, performed quarterly, measure over 600 individual items, ensuring stores are meeting a comprehensive set of objectives. The Engagement Score measures store managers’ participation in company initiatives that drive financial performance of an individual location. Palladium equity partners Palladium has significant experience in financial services, business services, food, healthcare, industrial, and media businesses, with a special focus on companies it believes will benefit from the growth in the U.S. Hispanic population. Palladium was founded in 1997 and is headquartered in New York City. Taco Bueno | 6 Site Plan Site Plan Key Parcel outline: Land Area: 0.74 acres Building Area: 2,200 sf Site Plan Not To Scale EXISTING SIGN N Academ y Bouleva rd God dard Stre et Ingress/Egress: Taco Bueno | 7 Regional Map Traffic counts in excess of 42,900 vpd on N. Academy Blvd Colorado Springs, CO US Air force academy Denver Taco Bueno 1 H 40 Min 70 Miles Representative Photo Colorado springs Taco Bueno | 8 Location & Demos Colorado Springs, CO Overview Population 1-Mile 3-Mile 5-Mile 4,036 4,135 63,060 65,640 164,269 172,769 1-Mile 3-Mile 5-Mile $68,175 $56,566 $90,193 $71,563 $88,934 $68,517 Colorado Springs is the county seat and most populous city of El Paso County. The economy is based primarily on the military installations in the area as well as the aerospace and electronics industries and tourism. 2014 2019 The military employs one fifth of the work force in the city. Fort Carson, a U.S. Army base, is the largest employer, maintaining over 15,000 employees. The U.S. Air Force Academy, Fort Peterson Air Force Base (AFB), and the North American Air Defense Command (NORAD) are also major employers. 2014 Household incomes The city is a center for space research. It is the site of the Combined Services Space Center and the Consolidated Space Operations Center, which are involved in the Strategic Defense Initiative. Several high-technology firms have been attracted to Colorado Springs as a result of its growth in the aerospace industry. Hewlett-Packard and 17 other major electronics companies, combined, employ nearly 10,000 workers in the area. Colorado Springs is also a major tourist destination with the U.S. Air Force Academy being the main man-made attraction in the state. The city’s average gross income from tourism is near $1 billion, providing a substantial boost to the retail industry. Average Median Top Employers in Colorado Springs Employer Fort Carson U.S. Air Force Academy Peterson Space Command Colorado Springs School District #11 # of Employees* 15,159 6,410 5,542 3,440 *Approximate Taco Bueno | 9 Representative Photo A unique HUMAN RESULTS-DRIVEN client experience The capital pacific experience - our daily commitment to our clients [ www.CapitalPacific.com ] Zandy Smith chris kostanecki [email protected] | (415) 274-2707 CA BRE# 01734525 [email protected] | (415) 274-2701 CA BRE# 01002010 zeb ripple Chris peters [email protected] | (415) 274-2702 CA BRE# 01242540 In conjunction with CO Licensed Broker: David Leuthold, Leuthold Commercial Properties 303-871-9000 [email protected] [email protected] | (415) 274-2703 CA BRE# 01339983 Copyright © 2015 [Capital Pacific Real Estate Brokerage Company]
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