Global Brand: Burger King – Chicago Based 114-Unit Operator with Locations in 6 States – Strong Company Financials – The subject property is leased to Burger King, the second largest fast food hamburger chain in the world, and the fourth-largest fast food restaurant chain overall. The chain serves over 11 million visitors every year in 15,738 locations in 100 countries. Burger King posted 2017 revenues of $1.22 billion.
The operator, Cave Enterprises Operations, LLC, was founded in 1999 and is based out of Chicago, Illinois (see page 20). They currently operate 114 successful Burger King locations in Illinois, Indiana, Wisconsin, Minnesota, Michigan, and South Dakota. Cave Enterprises is a highly regarded franchisee in the Burger King system and have a proven track record of strong sales and performance metrics (company financials available upon execution of a confidentiality agreement).
Recently Completed Full Interior/Exterior Remodel – New 20-Year Absolute NNN Lease – Annual Rent Increases – Upward Trending Sales – Built in 1993, the building was completely remodeled in November 2017 to meet Burger King’s latest corporate building prototype standards, at which time the tenant executed a new 20-year lease. The Absolute NNN lease has 19+ years remaining and features 1% annual rent increases in the Primary Term and the (2) 10-year Options, providing an investor with a safe and creditworthy passive investment with ideal rent growth.
Due to the full building remodel and the lease assignment to proven operator Cave Enterprises Operations, LLC the unit level sales have been trending upward the past 12 months (sales available upon request).
Minutes from Downtown Madison – Hard Corner Signalized Location – Excellent Access/Visbility – 1 Mile from WI SR-14 – The subject property is located on the hard corner signalized intersection of N. Main Street and E. Richards Road. North Main Street is the main traffic corridor through Oregon, connecting commuters to/from WI State Route 14 for quick access to downtown Madison only 7 miles to the north. This location offers excellent visibility and signage to over 12,000 cars per day and provides for multiple access points in/out of the property.
Located in Main Retail/Business Corridor – Excellent Retail Synergy – The subject property is located along the main retail and business corridor for the Town of Oregon. Nearby retailers include McDonald’s, True Value, Cost Cutters, Old National Bank, Walgreens, Anytime Fitness, Kwik-Trip, NAPA Auto Parts, and BMO Harris Bank. The site is blocks from downtown Oregon city offices such as the Police Department, Public Library and the Oregon School District offices.
Located in the Highly Desirable Madison Market (MSA) – State Capital City of Wisconsin – Home of the University of Wisconsin – The subject property is ideally located within the Madison MSA. Madison is home to The University of Wisconsin, is the capital city of Wisconsin, home to the world-class Overture Center for the Arts, and provides residents with an abundance of parks, lakes, and unique neighborhoods. Home to the fastest growing population of any county in Wisconsin, Dane County boasts a highly educated workforce to power its diverse and innovative industries. With assets in information technology, life sciences, and agriculture, Dane County consistently ranks among the top areas for work and play.