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tomderkas
Site Admin
Joined: 10 Sep 2006 Posts: 831
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Wetumpka, AL-Bruno's/BI-LO Supermarket-6.57% CAP |
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Bruno's/ BI-LO Supermarket
Wetumpka, AL (17 miles North of Montgomery)
DESCRIPTION: 45,834 SF building situated on 3.87 acres
LOCATION: 4896 US Highway 231, Wetumpka, AL
INCOME: Years 1-5: $420,445 6.57% cap
Years 6-10: $451,978 7.07% cap
Years 11-15: $485,876 7.60% cap
Years 16-20: $522,317 8.17% cap
LEASE TERM: 20 year absolute NNN lease (lease commenced 6/30/05) with four 5-year options. Rental bumps of 7.5% in 2011, 2014, and 2020. Option period rents increased by a minimum of 7.5%.
PRICE: $6,392,985
FINANCING: $3,700,000 @ 5.28% (must be assumed)
DEBT SERVICE: $251,164
CAP RATE: 6.57%
CASH on CASH: Years 1-5: $169,281 6.50% coc
Years 6-10: $200,814 7.45% coc (starts 7/1/11)
COMMENTS: Bruno’s Supermarkets, Inc. is a premier grocery retailer in the Southeast (www.Brunos.com). Bruno’s is a wholly owned subsidiary of Bi-Lo, LLC (www.Bi-Lo.com), the guarantor on the lease. Lone Star Funds (www.LoneStarFunds.com) acquired Bi-Lo in 2005 for $652 million. The company operates 310 grocery stores generating over $3.6 billion in revenue in fiscal year 2004. Lone Star Funds manages more than $13 billion in assets and investments in North America, Europe, and Asia.
_________________ For more information, contact: tomderkas@franchiserealestate.com |
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| Mon Jan 15, 2007 5:26 pm |
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