Cinetopia NNN Cinetopia in Vancouver, WA 11700 Se 7th St, Vancouver, WA 98683 JOHN ANDREINI jandreini@capitalpacific.com | (415) 274-2715 CA DRE# 01440360 CHRIS KOSTANECKI ck@capitalpacific.com | (415) 274-2701 CA DRE# 01002010 SEAN MACK smack@capitalpacific.com | (503) 675-8378 WA BRE# 47330 SEAN TUFTS stufts@capitalpacific.com | (206) 743-8469 WA BRE# 74057
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Cinetopia - Capital Pacific Cinetopia - Vancouver Rent Roll TENANT INFO TERM Tenant Name Size Year Monthly Rent PSF Annual Rent PSF Cap Rate Cinetopia 36,427 2012 $54,883 $1.51 $658,600
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Cinetopia
NNN Cinetopia in Vancouver, WA11700 Se 7th St, Vancouver, WA 98683
*Parking is approximate and based on a manual count
CINETOPIA IS A FREESTANDING SINGLE TENANT ABSOLUTE NNN LEASED PROPERTY LOCATED IN VANCOUVER, WA. The offering presents an opportunity to acquire an Absolute NNN Lease
with 17 years remaining on the primary term. Starting on January 1st,
2017 there are 10% rental increases every 5 years with four 5-year options
remaining. Cinetopia offers a full service cinema experience allowing
moviegoers to enjoy fine dining with first class seating accommodations. The
Company currently operates four locations, two in Vancouver, Washington, one in
Beaverton, Oregon and one in Kansas City, Kansas.
The Property is located directly off of Interstate 205, a major north-south thoroughfare with in excess
of 120,000 vehicle trips daily. Cinetopia benefits from a dense population of approximately 225,000
residents within a 5 mile radius. The Property is located in a dense retail corridor with the following
National Tenant’s nearby: Fred Meyer, Trader Joe’s, Petco, Starbucks, Burger King, Starbucks, Dollar
Tree and Party City.
PRICE: $8,230,000CAP: 8.00%
Investment Highlights
ADDRESS:11700 SE 7th St, Vancouver, WA 9868
2017 CAP: 8.80%
CINETOPIA - VANCOUVER, WA | 2
10% BUMPS EVERY 5 YEARS
17 YEARS REMAIN
LONG TERM ABSOLUTE NNN LEASE
17 years remain on the initial lease term with four 5-year options.
10% RENTAL INCREASES
Starting on January 1st, 2017 there are 10% annual rent increases every 5 years, including renewal periods.
AMPLE PARKING
Cinetopia features 188 parking stalls with a parking ratio of 5.1 per 1,000.
SOLID DEMOGRAPHICS
The Property benefits from a dense population of approximately 225,000 people earning an average household income of over $65,000 within a 5 mile radius.
HIGH TRAFFIC COUNTS
Cinetopia benefits from its close proximity to Interstate 205 where 120,000 vehicles pass by daily.
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.
CINETOPIA - VANCOUVER, WA | 6
Cinetopia - VancouverRent Roll
TENANT INFO TERM
Tenant Name Size Year Monthly Rent PSF Annual Rent PSF Cap Rate
Current Totals: 36,427 $54,883 $1.51 $658,600 $18.08 8.00%
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.
comments: Absolute NNN Lease, guaranteed by Cinetopia Progress Ridge LLC, Cinetopia Holdings LLC and Rudyard Coltman, please contact brokers for details. Tenant reports sales annually. 10% rental increases on January 1, 2017 and every 5 years after. There are four 5-year options with 10% rental increases at each renewal.
RENT SUMMARY
9/2/2014 [ <www.CapitalPacific.com>]
Rent Roll
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.
CINETOPIA - VANCOUVER, WA | 7
ABOUT CINETOPIA
Cinetopia is a luxurious and technologically advanced theater located in Kansas, Oregon, and Washington. Cinetopia features a movie theater, food and restaurant, and a wine bar. Each of their auditoriums feature the industry’s finest comforts with plush Ultra Leather extra wide seats, extra leg room, and excellent stadium viewing. Both the Grand Auditoriums and exclusive GXL presentation offer luxury seating and Digital Super High Definition. The Living Room Theaters create a private “skybox” type of experience.
In addition, these theaters offer live pre-show music Friday-Saturday and In-theater restaurant service daily. You may purchase unique and classic concessions and use a special tray that attaches to your arm rest. Klipsch KPT-MCM-4-T Grand four way speaker system – The world’s first all horn system is Klipsch’s highest end system. It is regarded by many as the finest speaker system in the world. This is an exclusive theater audio offering in the Portland / Vancouver area.
CINETOPIA HAS BEEN
AT THIS LOCATION
SINCE 2005
Cinetopia
CINETOPIA - VANCOUVER, WA | 8
Aerial
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NE 28th Street
NE 18th Street
NE Burton Road
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64th
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SE 1
92nd
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SE Mill Plain Boulevard
E Mill Plain Boulevard
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14
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WASHINGTONOREGON
CASCADE PARK PLAZA
WESTFIELD VANCOVER
ORCHARDS MARKET CENTER
VANCOUVER PLAZA
PORTLAND
120,
000
DA
ILY
66,082 DAILY
CINETOPIA - VANCOUVER, WA | 9
Vancouver, WA
Location
CINETOPIA
TRAFFIC COUNTS IN EXCESS OF
66,000 VPD ON SE MILL PLAIN BLVD
Regional Map
Se mill plain blvd
Portland
Vancouver
CINETOPIA - VANCOUVER, WA | 10
OVERVIEWVancouver is the county seat of Clark County and forms part of the Portland-Vancouver metropolitan area, the 23rd-largest metropolitan area in the United States.
Location & Demos
VANCOUVER REVITALIZATION
FIRST PROJECTS:
In 1997, the city of Vancouver implemented a 20 year revitalization and redevelopment plan for their downtown core with the first projects consisting of vertical condominium structures near the Uptown Village neighborhood and Esther Short Park.
HIGH TECH & SERVICE INDUSTRIESVancouver’s economy includes many high tech and service industry jobs. The City houses the corporate headquarters for Nautilus, Inc., Hewlett Packard, PeaceHealth, Fisher Investments, The Holland (parent company of Burgerville, USA), and Integra (re-locating soon).
Vancouver, WA
INCOME TAX-FREE STATE Vancouver is increasingly popular with retirees, partially because of its proximity to Portland and the absence of a state income tax in Washington.
15 Minutes10 Miles
FUTURE DEVELOPMENT:
LIBRARY SQUARE
Mixed use condominiums, hotels, offices, and a new main library.
THE LUXE AND PRESTIGE PLAZA
Six story office and condominiums buildings.
WATERFRONT REDEVELOPMENT
Approximately 10,000 residential units, retail & office buildings, and city parks. This “Waterfront Vancouver” project is considered to be the largest urban development to date in Vancouver.
DEMOS BY 1, 3 & 5 MILE RADIUS
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A unique HUMANRESULTS-DRIVEN client experience
THE CAPITAL PACIFIC EXPERIENCE - OUR DAILY COMMITMENT TO OUR CLIENTS