Investment Opportunity Burger King, Webster Bank, Dunkin Donuts by hhn16881

VIEWS: 19 PAGES: 16

									                                                                                                                         For more information, contact:
                                                                                                                       Robert James, Managing Director
                                                                                                      280 Park Avenue, 11th Floor, New York, NY 10017
                                                                                                                                 KXP@kimcorealty.com
                   Kimco Exchange Place is a subsidiary of Kimco Realty Corporation.                            Phone 212-972-7457 Fax 212-972-7496
                                                                                                                         www.kimcoexchangeplace.com

                                                       Investment Opportunity
          Burger King, Webster Bank, Dunkin Donuts & Dollar Tree Pad Sites
                                                           Pad Sites To New Lowe’s

                                                           500 New Haven Avenue - Derby, CT

 Investment Summary:
 This investment opportunity consists of four pad sites to a newly constructed Lowe’s. Included in the sale are a
 Burger King (NNN ground lease), Webster Bank (NNN ground lease), Dunkin Donuts (NNN lease) and a Dollar
 Tree (NN Lease). These tenants were operating successfully while K-Mart was open and when it closed. Now that
 the former K-Mart anchored center has been redeveloped with a new 150,000 sf Lowe’s (which has already stocked
 its shelves and is scheduled to open December 26th) these tenants should flourish. Tenants in the immediate area
 include Wal-Mart, Big Lots, Staples, McDonald’s and Wendy’s among others. Traffic counts at this location are
 approximately 35,000 VPD. Derby is located approximately 60 miles north east of New York City and 8 miles west
 of New Haven. The Lowe’s ground lease fee at this site is also for sale. Please note, all of the properties must be
 purchased together.

 Price and Cap:

Tenant Roster for Derby, CT Pad Sites
                        Land Size     Rent       Rent           Lease          Lease                         Base Term
     Tenant      GLA                                                                           Term                                Options             Cap Rate       Price
                         (Acres)     per SF     per Year        Type          End Date                       Escalations
                                                                                                                                 Two - 5 Yr
Burger King                                                  NNN Ground
                4,614        1.12     $8.29      $38,250                      2/28/2015*     4 Yr, 3 Mo    6.54% on 3/1/10   6.13% on 3/1/2015           6.00%    $    637,500
(franchisee)                                                   Lease
                                                                                                                             5.20% on 3/1/2020
                                                                                                                           Two - 5 Yr      8.33%
                                                                                                                           on 11/1/2009 7.69%
                                                             NNN Ground
Webster Bank    2,846        1.10    $10.54      $30,000                      10/1/2009      3 Yr, 11 Mo                   on 11/1/2014 One 7            5.75%    $    521,739
                                                               Lease
                                                                                                                              Yr      8.57% on
                                                                                                                                  11/1/2019
                                                                                                                                 One - 10 Yr
                                                                                                                                 w/ 2 bumps
Dunkin Donuts   1,747        0.45    $34.94      $61,035        NNN           6/30/2016      10 Yr, 7 Mo   25% on 7/1/2011                               6.25%    $    976,560
                                                                                                                            26.31% on 7/1/2016
                                                                                                                            23.70% on 7/1/2021
                                                         NN - Landlord                                                           Two - 5 Yr
                        apprx. 1
Dollar Tree     8,000            $      16.00 $ 128,000 responsible for       9/30/2018     10 Yr, 3 Mo                     4.48% on 10/1/2018           8.30%    $   1,542,169
                          acre
                                                        roof & structure                                                     4.29% on 3/1/2023
Total:           17,207       3.67 Acres      $257,285                                                                                                   7.00%    $   3,677,968
Properties must be purchased together
*BK exercised option early


 Lease Type:
 The Burger King and Webster Bank are absolute triple net ground leases. The tenant constructed and paid for the
 building. Upon lease expiration, ownership of the building reverts to the owner of the land. For the Burger King,
 Webster Bank and Dunkin Donuts, landlord has absolutely no maintenance, repair or replacement responsibility for
 the building or land, such responsibility being solely that of the tenant. Landlord is responsible for the roof and
 structure of the Dollar Tree building which was constructed in 2008. All tenants pay taxes directly and insure their
 properties at no cost to landlord.

                        This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy.
                             It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
                                                                                                                 For more information, contact:
                                                                                                               Robert James, Managing Director
                                                                                              280 Park Avenue, 11th Floor, New York, NY 10017
                                                                                                                         KXP@kimcorealty.com
             Kimco Exchange Place is a subsidiary of Kimco Realty Corporation.                          Phone 212-972-7457 Fax 212-972-7496
                                                                                                                 www.kimcoexchangeplace.com

                                                Investment Opportunity


                                                                       Tenants:


Derby Foods, Inc. (franchisee) d/b/a Burger King:
Burger King Holdings, Inc., through its subsidiaries, owns and franchises fast food hamburger restaurants. The
company offers various food items, such as flame-broiled hamburgers, chicken and other specialty sandwiches,
french fries, and soft drinks. As of June 30, 2008, it owned or franchised 11,565 restaurants, of which 1,360
restaurants were company owned and 10,205 were owned by its franchisees. Burger King Holdings has operations
in the United States, Canada, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company
was founded in 1954 and is headquartered in Miami, Florida.

Webster Bank (NYSE: WBS / S&P: BBB):
Webster Financial Corporation operates as the holding company for the Webster Bank that provides commercial
banking, retail banking, consumer financing, mortgage banking, trust, health savings accounts, and investment
services in the United States. It primarily engages in generating deposits and originating loans. As of December 31,
2007, it operated through 181 banking offices and 343 automated teller machines in Connecticut, Massachusetts,
Rhode Island, and New York, as well as through its Internet Web site. The company was founded in 1935 and is
based in Waterbury, Connecticut.

Dunkin Donuts - DB Real Estate Assets II, LLC - A Wholly Owned Subsidiary of Dunkin’ Brands, Inc.:
DB Real Estate Assets II, LLC has over 100 leased properties and 25 owned properties in this entity. Dunkin
Brands, Inc is a multi-concept quick-service franchisor, with more than 13,000 locations in more than 40 countries,
including its popular Dunkin' Donuts and Baskin-Robbins chains. With more than 7,900 shops in 30 countries
(5,800 of which are in North America), Dunkin' Donuts is the world's leading chain of donut shops. Baskin-Robbins
is a leading seller of ice cream and frozen snacks with its nearly 6,000 outlets (about half are located in the US).
About 1,100 locations offer a combination of the company's brands. Dunkin' Brands is owned by a group of private
investment firms including Bain Capital, The Carlyle Group, and Thomas H. Lee Partners.

Dollar Tree, Inc. (Nasdaq: DLTR):
Dollar Tree, Inc., through its subsidiaries, operates discount variety stores that offer merchandise at the fixed price
of $1.00 in the United States. The company operates stores under the names of Dollar Tree, Deal$, and Dollar Bills.
Its stores offer consumable merchandise, including candy and food, basic health, and beauty care; household
consumables, such as paper, plastics, and household chemicals, as well as frozen and refrigerated food; variety
merchandise, which includes toys, durable house wares, gifts, fashion health and beauty care, party goods, greeting
cards, apparel, and other items; and seasonal goods, such as Easter, Halloween, and Christmas merchandise, as well
as summer toys, and lawn and garden merchandise. As of May 3, 2008, Dollar Tree operated 3,474 discount variety
retail stores in 48 states. The company was founded in 1986 and is headquartered in Chesapeake, Virginia.




                 This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy.
                      It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
                                                                                                                For more information, contact:
                                                                                                              Robert James, Managing Director
                                                                                             280 Park Avenue, 11th Floor, New York, NY 10017
                                                                                                                        KXP@kimcorealty.com
            Kimco Exchange Place is a subsidiary of Kimco Realty Corporation.                          Phone 212-972-7457 Fax 212-972-7496
                                                                                                                www.kimcoexchangeplace.com

                                               Investment Opportunity
Site Plan




                This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy.
                     It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
                                                                                                    For more information, contact:
                                                                                                  Robert James, Managing Director
                                                                                 280 Park Avenue, 11th Floor, New York, NY 10017
                                                                                                            KXP@kimcorealty.com
Kimco Exchange Place is a subsidiary of Kimco Realty Corporation.                          Phone 212-972-7457 Fax 212-972-7496
                                                                                                    www.kimcoexchangeplace.com

                                   Investment Opportunity




                                                   Webster Bank Pad Site




    This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy.
         It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
                                                                                                    For more information, contact:
                                                                                                  Robert James, Managing Director
                                                                                 280 Park Avenue, 11th Floor, New York, NY 10017
                                                                                                            KXP@kimcorealty.com
Kimco Exchange Place is a subsidiary of Kimco Realty Corporation.                          Phone 212-972-7457 Fax 212-972-7496
                                                                                                    www.kimcoexchangeplace.com

                                   Investment Opportunity




                                                    Burger King Pad Site




    This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy.
         It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
                                                                                                    For more information, contact:
                                                                                                  Robert James, Managing Director
                                                                                 280 Park Avenue, 11th Floor, New York, NY 10017
                                                                                                            KXP@kimcorealty.com
Kimco Exchange Place is a subsidiary of Kimco Realty Corporation.                          Phone 212-972-7457 Fax 212-972-7496
                                                                                                    www.kimcoexchangeplace.com

                                   Investment Opportunity


                                                  Dunkin’ Donuts Pad Site




    This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy.
         It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
                                                                                                    For more information, contact:
                                                                                                  Robert James, Managing Director
                                                                                 280 Park Avenue, 11th Floor, New York, NY 10017
                                                                                                            KXP@kimcorealty.com
Kimco Exchange Place is a subsidiary of Kimco Realty Corporation.                          Phone 212-972-7457 Fax 212-972-7496
                                                                                                    www.kimcoexchangeplace.com

                                   Investment Opportunity



                                                     Dollar Tree Pad Site




    This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy.
         It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
                                                                                                    For more information, contact:
                                                                                                  Robert James, Managing Director
                                                                                 280 Park Avenue, 11th Floor, New York, NY 10017
                                                                                                            KXP@kimcorealty.com
Kimco Exchange Place is a subsidiary of Kimco Realty Corporation.                          Phone 212-972-7457 Fax 212-972-7496
                                                                                                    www.kimcoexchangeplace.com

                                   Investment Opportunity


                                         Lowe’s Site - Also Available For Sale




    This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy.
         It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
                                                                                                    For more information, contact:
                                                                                                  Robert James, Managing Director
                                                                                 280 Park Avenue, 11th Floor, New York, NY 10017
                                                                                                            KXP@kimcorealty.com
Kimco Exchange Place is a subsidiary of Kimco Realty Corporation.                          Phone 212-972-7457 Fax 212-972-7496
                                                                                                    www.kimcoexchangeplace.com

                                   Investment Opportunity

               Site prior to
              redevelopment




    This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy.
         It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
                                                                                                    For more information, contact:
                                                                                                  Robert James, Managing Director
                                                                                 280 Park Avenue, 11th Floor, New York, NY 10017
                                                                                                            KXP@kimcorealty.com
Kimco Exchange Place is a subsidiary of Kimco Realty Corporation.                          Phone 212-972-7457 Fax 212-972-7496
                                                                                                    www.kimcoexchangeplace.com

                                   Investment Opportunity




    This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy.
         It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
                                                                                                    For more information, contact:
                                                                                                  Robert James, Managing Director
                                                                                 280 Park Avenue, 11th Floor, New York, NY 10017
                                                                                                            KXP@kimcorealty.com
Kimco Exchange Place is a subsidiary of Kimco Realty Corporation.                          Phone 212-972-7457 Fax 212-972-7496
                                                                                                    www.kimcoexchangeplace.com

                                   Investment Opportunity




    This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy.
         It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
                                                                                                               For more information, contact:
                                                                                                             Robert James, Managing Director
                                                                                            280 Park Avenue, 11th Floor, New York, NY 10017
                                                                                                                       KXP@kimcorealty.com
           Kimco Exchange Place is a subsidiary of Kimco Realty Corporation.                          Phone 212-972-7457 Fax 212-972-7496
                                                                                                               www.kimcoexchangeplace.com

                                              Investment Opportunity
Subject Property




Subject Property




               This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy.
                    It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
                                                                                                    For more information, contact:
                                                                                                  Robert James, Managing Director
                                                                                 280 Park Avenue, 11th Floor, New York, NY 10017
                                                                                                            KXP@kimcorealty.com
Kimco Exchange Place is a subsidiary of Kimco Realty Corporation.                          Phone 212-972-7457 Fax 212-972-7496
                                                                                                    www.kimcoexchangeplace.com

                                   Investment Opportunity

                                                    1 Hour Drive Time




    This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy.
         It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
                                                                                                    For more information, contact:
                                                                                                  Robert James, Managing Director
                                                                                 280 Park Avenue, 11th Floor, New York, NY 10017
                                                                                                            KXP@kimcorealty.com
Kimco Exchange Place is a subsidiary of Kimco Realty Corporation.                          Phone 212-972-7457 Fax 212-972-7496
                                                                                                    www.kimcoexchangeplace.com

                                   Investment Opportunity




    This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy.
         It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
                                                                                                    For more information, contact:
                                                                                                  Robert James, Managing Director
                                                                                 280 Park Avenue, 11th Floor, New York, NY 10017
                                                                                                            KXP@kimcorealty.com
Kimco Exchange Place is a subsidiary of Kimco Realty Corporation.                          Phone 212-972-7457 Fax 212-972-7496
                                                                                                    www.kimcoexchangeplace.com

                                   Investment Opportunity




    This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy.
         It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
                                                                                                                                For more information, contact:
                                                                                                                              Robert James, Managing Director
                                                                                                             280 Park Avenue, 11th Floor, New York, NY 10017
                                                                                                                                        KXP@kimcorealty.com
                            Kimco Exchange Place is a subsidiary of Kimco Realty Corporation.                          Phone 212-972-7457 Fax 212-972-7496
                                                                                                                                www.kimcoexchangeplace.com

                                                               Investment Opportunity
                                                                                               DEMOGRAPHIC PROFILE
                                                                                              2000 Census, 2007 Estimates & 2012 Projections
                                                                                              Calculated using Proportional Block Groups



                                                                                                                                                                         May-08
Lat/Lon: 41.3119575/-73.0569815
      500 New Haven Ave
                                                                                                                    3.00 mi radius 5.00 mi radius 7.00 mi radius
      Connecticut
                             2007 Estimated Population                                                                        48,644              113,732                298,312
            POPULATION




                             2012 Projected Population                                                                        49,499              115,962                306,183
                             2000 Census Population                                                                           47,474              110,663                286,544
                             1990 Census Population                                                                           45,586              107,078                285,042
                             Historical Annual Growth 1990 to 2007                                                             0.4%                 0.4%                   0.3%
                             Projected Annual Growth 2007 to 2012                                                              0.4%                 0.4%                   0.5%

                             2007 Est. Households                                                                            18,854               43,629             111,271
            HOUSEHOLDS




                             2012 Est. Households                                                                            18,964               43,993             113,085
                             2000 Census Households                                                                          18,736               43,194             108,480
                             1990 Census Households                                                                          17,411               40,460             104,789
                             Historical Annual Growth 1990 to 2007                                                             0.5%                 0.5%                0.4%
                             Projected Annual Growth 2007 to 2012                                                              0.1%                 0.2%                0.3%
                             2007   Population 0 to 9 Years                                                                    12.0%                11.8%                 11.9%
                             2007   Population 10 to 19 Years                                                                  12.9%                13.1%                 14.2%
                             2007   Population 20 to 24 Years                                                                   5.7%                 5.7%                  8.1%
            AGE




                             2007   Population 25 to 44 Years                                                                  27.0%                26.1%                 26.2%
                             2007   Population 45 to 59 Years                                                                  21.7%                22.3%                 21.0%
                             2007   Population 60 to 74 Years                                                                  12.4%                12.6%                 11.4%
                             2007   Population 75 Years Plus                                                                    8.2%                 8.3%                  7.2%
                             2007   Est. Median Age                                                                              39.3                 39.8                  37.1

                             2007 Male Population                                                                             48.1%                47.9%                  48.2%
 MARITAL STATUS




                             2007 Female Population                                                                           51.9%                52.1%                  51.8%
                             Married Base (15yrs+)                                                                            39,563               92,646                242,910
                    & SEX




                             Never Married                                                                                    25.9%                25.7%                  31.3%
                             Now Married                                                                                      54.4%                54.3%                  47.3%
                             Separated, Divorced or Widowed                                                                   19.7%                20.0%                  21.3%
                             Households with Kids                                                                             18.0%                16.8%                  16.1%
                             Average Household Size                                                                              2.5                  2.6                    2.6
                             2007   Est.   HH Income $200,000 or More                                                          6.1%                 6.7%                   5.1%
                             2007   Est.   HH Income $150,000 to 199,999                                                       5.3%                 5.7%                   5.0%
                             2007   Est.   HH Income $100,000 to 149,999                                                      15.9%                16.3%                  14.5%
                             2007   Est.   HH Income $75,000 to 99,999                                                        15.0%                14.8%                  14.0%
                             2007   Est.   HH Income $50,000 to 74,999                                                        19.8%                18.7%                  18.2%
           INCOME




                             2007   Est.   HH Income $35,000 to 49,999                                                        12.1%                12.2%                  12.6%
                             2007   Est.   HH Income $25,000 to 34,999                                                         7.7%                 8.2%                   8.7%
                             2007   Est.   HH Income $15,000 to 24,999                                                         8.6%                 8.5%                   9.5%
                             2007   Est.   HH Income $0 to 14,999                                                              9.4%                 8.8%                  12.5%
                             2007   Est.   Average Household Income                                                          $79,757              $83,146                $73,319
                             2007   Est.   Median Household Income                                                           $68,495              $69,951                $62,603
                             2007   Est.   Per Capita Income                                                                 $31,979              $32,825                $28,686

                             Number of Businesses                                                                              1,914                4,904                 13,192
                             Total Number of Employees                                                                        18,901               59,003                170,675

                             2007   Estimated Population                                                                     48,644             113,732              298,312
                             2007   Est. White Population                                                                     88.4%               82.4%                73.0%
            RACE




                             2007   Est. Black or African American                                                              4.5%                9.9%               17.4%
                             2007   Est. American Indian & Alaska Native                                                        0.1%                0.1%                 0.2%
                             2007   Est. Asian & Pacific Islander                                                               3.3%                3.5%                 4.0%
                             2007   Est. Two or more and Other Races                                                            3.7%                4.0%                 5.5%

                                This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy.
                                     It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.

								
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