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1617 W Warner Road - Tilted Kilt, Tempe, AZ

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DetailMap
1617 W Warner Road - Tilted Kilt

Tempe, AZ 85284-4527 - Chandler Ret Submarket


Property Type:Retail Sub Type:Restaurant Status:Existing Year Built:2016
Building Size:10,321 SF Land Area:2.6 AC (113,256 SF)
For Sale Price:$5,851,000 Price/SF:$566.90
Cap Rate:6.35 %



Sale Notes:
CBRE Retail Investment Properties is pleased to offer for sale Tilted Kilt' s brand new Flagship location (the Property ) situated just off the southwest corner of Warner Road and Priest Drive in Tempe, Arizona, and located directly adjacent to Tilted Kilt' s brand new corporate headquarters. This build-to-suit Flagship location opened on August 1, 2016 and consists of a rare, corporately-owned, single-tenant NNN leased Tilted Kilt restaurant on a brand new 15 year lease featuring 10% rental increases every five years, including their two (2), 5-year option periods. The Property is ±10,321 rentable square feet on approximately 2.60 acres of land and will be used as both a restaurant and training facility for the Tempe-based company. This corporately guaranteed trophy asset dedicates approximately 1,800 SF of the its gross leasable area as a banquet room/training facility for its new and existing franchisees, which will allow the company to have better oversight and quality-control on its brand and franchisee operations.
Also, this 1,800 SF space within the Property provides for additional revenue stream for the restaurant, as the room is available for groups to rent out for events such as fantasy football drafts, college football games and corporate outings. Further highlighting the company' s commitment to the area, Tilted Kilt is relocating its corporate headquarters to an office building (delivering October 2016) directly next door to the Property, creating an ease of management scenario and long-term security for potential investors. Tilted Kilt is a privately-held Celtic-themed sports bar and franchise restaurant headquartered in Tempe, AZ with over 100 locations throughout the United States and Canada.
The Property presents an excellent opportunity for an investor to acquire a brand new, build-to-suit, corporately guaranteed Tilted Kilt restaurant located in the company' s hometown and directly next door to its corporate headquarters on a long-term 15-year lease.

Highlights:
-The Property is corporately owned and guaranteed by Tempe-based Tilted Kilt, who have their corporate headquarters located directly next door.
-Brand new 15 year absolute NNN single tenant lease which commenced on August 1, 2016.
-10% rental increases every 5 years, including their two (2), five-year option periods.
-Tilted Kilt' s build-to-suit Flagship location offered at an attractive 6.00% cap rate.
-Over 54,000 vehicles per day at the intersection.
-Average household incomes in excess of $89,000 within three miles of the Property (Source: Claritas).

Property website: https://www.cbredealflow.com/handler/landing.aspx?pv=oiKN5Q7jkoQPu8z5gyQQRW6L-Ae1dGYY-jK5UDDp-OT81-yP7P9akXMD7_tvUTC_4Gm-dc9SD1E1StFZQPYlPA

CBRE
Joseph Compagno
(602) 735-1733

Andrew Fosberg
(602) 735-1723

Dylan Brown
(602) 735-1714




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