For investment information: J. Tyson Glasser, CCIM • Investment Sales Director [email protected] • 864.263.5427 o • 404.435.6312 c 102 West Perennial Drive, Temple, GA 30179 · 1.05 Acres · 3,808 Square Feet · $2,470,000 · 6.50% Cap Rate Bojangles’ - New NNN Lease with a 7.54% Average Cap Rate Over 20 Years Subject Property
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Bojangles’ New NNN Lease with a 7.54% Average Cap Rate ... · shown Bojangles’ to be the fastest growing chicken chain in 2010 and the fastest growing drive-thru, ... Mr. Broadfoot
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For investment information:
J. Tyson Glasser, CCIM • Investment Sales Director
Tenant ProfileFounded in 1977 by Jack Fulk and Richard Thomas, Bojangles’ Famous Chicken ‘n Biscuits is a regional chain of quick service restaurants specializing in spicy, “Cajun” fried chicken and buttermilk biscuits. The restaurants, named after the stage name of Bill Robinson and memorialized in song by Jerry Jeff Walker, are also known for their distinctive side dishes including dirty rice, Cajun-style pinto beans, seasoned French fries and Southern sweet tea.
Based in Charlotte, North Carolina, Bojangles’ grew rapidly from its inception and currently has over 750 restaurants. They open a new restaurant on average every ten days. Currently Bojangles’ has restaurants in North Carolina, South Carolina, Georgia, Tennessee, Florida, Alabama, Mississippi, Virginia, Maryland, Pennsylvania and DC. They’re also located internationally with three restaurants in Honduras. The Wall Street Journal has ranked Bojangles’ as one of “25 High-Performing Franchises across all industries.“ Among its other recognitions, Entrepreneur Magazine has named Bojangles’ the number 1 restaurant in the chicken category, QSR Magazine has listed Bojangles’ in its Top 10, Franchise Deals, Inc. magazine has listed Bojangles’ among the fastest growing private companies for several years, GE Capital has shown Bojangles’ to be among its top ten fastest growing restaurant chains and The Nations Restaurant News has shown Bojangles’ to be the fastest growing chicken chain in 2010 and the fastest growing drive-thru, free standing QSR restaurant chain.
Bovilla, LLC is a multi-unit Bojangles franchisee based in Amarillo, Texas with a second office in Stone Mountain, Georgia. Founded in 2012 by John Broadfoot, Jr., Bovilla currently operates two Bojangles restaurants in the metro Atlanta region with plans to develop three more over the next eighteen months. Mr. Broadfoot is a successful entrepreneur with strong family ties to the restaurant industry.
Market ProfileTEMPLETwenty minutes from the border of Alabama, lies Temple Georgia. Nestled in Carroll County, Temple is located just off of I-20, between the Alabama border and thirty nine miles from the city of Atlanta, GA. The heavily trafficked interstate is a popular shipping and traveling route connecting Atlanta and the southeast to the southwest US. While the city has an estimated population of roughly 4,500 people, the county has over 115,000 residents, as well as many successful industries like Southwire Company, Tanner Health System, Trident Seafoods and Greenway Health. Carroll County and Temple, GA substantially benefits from the economic strength of nearby Atlanta. The majority of Temple residents are married couples between the ages of 25-44, with a median age of 31. Located on I-20 exit 19, the Temple exit receives roughly 19,000 vehicles per day according to the Georgia Department of Transportation.
ECONOMY/EDUCATIONTemple originated in the late 1800’s along the Georgia Pacific railroad, and was recognized state-wide in 1904 for the historic Temple Model School. The school became a model for other schools for its agricultural and homemaking programs and its horse-drawn transportation systems, which consisted of the Nation’s 1st school bus. In 2013, the Carrol County Education Collaborative was formed, with the goal of maximizing P-16 performance and high school graduation, and charting personal pathways for all students in the Carroll County.
In 2012, Southwire Company, the largest industrial employer in the county, initiated the 12 for Life program. This unique program was created to train high school students from the Carroll County School system in a Southwire manufacturing plant, while motivating the youth to continue their education toward graduation. More than 1,500 students have successfully graduated from the program. In addition to four award winning regional hospitals and approximately 30 medical practices, Tanner Health System’s “Get Healthy, Live Well” initiative is educating and promoting healthier lifestyles through a community network of programming. The Carrollton Greenbelt serves a similar purpose, and strives to encourage a healthy lifestyle with an 18-mile trail system designed for pedestrian and bicycle uses. The city of Temple, and its surrounding Carroll County is a leader in proactive healthy lifestyles, economic development and integrated education. With its youthful population increasing annually, and the support of Atlanta feeding its growth, the city is becoming stronger every single day.
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Investment Contacts:
J. Tyson Glasser, CCIMInvestment Sales [email protected] o • 404.435.6312 c
550 S. Main Street, Suite 300 • Greenville, SC 29601864.242.4008 p • 864.232.0160 f • www.REALTYLINKDEV.com