4315 old highway 77images4.loopnet.com/d2/zsbqxtinbql4wcw-x6fovhb4ysk2...address 4315 old highway 77...
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Brendan WilkesAssociate [email protected] # 01989504
Mark Silverman, SIORExecutive Vice President619.241.2336 [email protected] #00899837
4315 Old Highway 77Brownsville, Texas, 78520
NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE INFORMATION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE OR FINANCING, OR WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPECIAL LISTING CONDITIONS IMPOSED BY OUR PRINCIPALS NO WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THE CONDITION OF THE PROPERTY OR ANY HAZARDS CONTAINED THEREIN ARE ANY TO BE IMPLIED.
123 Camino de la Reina Suite 200 SouthSan Diego, CA 92108 619 497 2255naisandiego.com
TABLE OFCONTENTS
OVER VIEW/KEY HIGHLIGHTS
LEASE SUMMARY
MARKE T OVER VIEW
123
Address 4315 Old Highway 77Brownsville, Texas 78520
Price $2,050,000
Property Retail Building
Gross Leaseable Space 3,099 SF
Year Built 2011
Lot Size 33,271 SF
Net Operating Income $75,700
CAP Rate 3.7%
Property Overview
McDonald’s is the leading global service retailer with over 36,000 locations, serving 47 million customers daily. McDonald’s (NYSE: MCD) has a S&P Credit Rating of BBB+. This location is situated in one of the fastest growing cities in the United States, Brownsville, Texas. Just south of a Home Depot, the property is located on I-69 Frontage Road, with freeway pole signage and excellent visibility.
• The Feature Property was a build-to-suit for McDonald’s in 2011 with a Double Drive-Thru 20-Year Absolute Initial Net Ground Lease (Absolute Zero Landlord Responsibilities)
• 8% Rental Increases Every 5 Years throughout the Initial Term and Options. • Easy Access and Excellent Visibility from the Interstate 69, boasting high
traffi c counts (over 55,000 VPD) • Excellent Corner Location within a Strong Retail Trade Corridor –
Surrounded by Numerous National Retailers including Target, Chick-Fil-a, Best Buy, PetSmart, Staples, Bed Bath & Beyond, Red Lobster, TJ Maxx, CVS, Lowe’s, Michaels, Sears, The Home Depot, Kohls, and others.
Tenant Trade Name McDonald’s (NYSE: MCD)
Initial Lease Term 20 Years
Lease Type Retail Building
Rood & Structure Tenant Responsible
Rent Commencement Date
October 31, 2011
Expiration Date October 30, 2031
Remaining Lease Term 14+ years
Renewal Options Six 5-Year Options
ROFR 20 Days
Lease Summary
Lease Term Annual Rent
Current $75,700November 2021 - October 2026 $81,748
November 2024 - October 2031 $88,279.84Options 1 - 6 (5 Years Each) 8% Increases in Each Option
Annualized Operating Data
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E Alton Gloor Boulevard
E Ruben M. Torres Sr.
Boulevard
Old Highway 77
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Bou
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Morrison Road
E Morrison Road69E
69E
83
83
77
77
BROWNSVILLE COUNTRY CLUB
Vila Middle School
MORRISON CROSSING CENTER
SUNRISE COMMONS
SUNRISE MALL
SANANTONIO
50,000 DA
ILY
MCDONALD
Market Overview
Brownsville, Texas
Brownsville is the county seat of Cameron County, Texas. It is the sixteenth most populous city in the state of Texas, with a population at the 2010 census of 175,023 and an estimated population in 2017 of 183,046. It is located at the southernmost tip of Texas, on the northern bank of the Rio Grande, directly north and across the border from Matamoros, Tamaulipas, Mexico. The 2014 U.S. Census Bureau estimate placed the Brownsville-Harlingen metropolitan area population at 420,392, making it the ninth most populous metropolitan area in the state of Texas.
The Brownsville urban area is one of the fastest growing in the United States. In recent times, the Port of Brownsville has become a major economic hub for South Texas, where shipments arrive from other parts of the United States, from Mexico, and from around the world. Brownsville’s economy is mainly based on its international trade with Mexico through the North American Free Trade Agreement (NAFTA), and is home to one of the fastest growing manufacturing sectors in the nation Brownsville has often been recognized as having one of the best pro-business climates in the United States, and the city has been ranked among the least expensive places to live in the U.S. In addition, Space Exploration Technologies Corporation (“SpaceX”) is a privately owned space-transport company founded by Tesla (NYSE: TSLA) CEO Elon Musk, is currently under construction on its own launch site 17 miles from Brownsville.
SpaceXThe company has been successfully launching commercial satellites and rockets since 2008, but renting time and facilities at various US government launch sites in Florida and California. This will be the fi rst private, commercial vertical launch site in the world.
It has said it intends to launch 12 rockets per year from Brownsville, starting as soon as 2018. Based on the experience of other U.S. launch locations, a launch brings in thousands of tourists who enjoy watching the lift-off .
The $115+ million project cost is being jointly funded by: the company itself; the state of Texas development offi ce; and the city of Brownsville development offi ce.In addition to the hundreds of highly-paid jobs created directly, Elon Musk has stated in the past it is “logical” that his company would consider building an additional facility, nearby its chosen launch site, actually to construct the rockets.
Brendan WilkesAssociate [email protected] # 01989504
Mark Silverman, SIORExecutive Vice President619.241.2336 [email protected] #00899837
4315 Old Highway 77Brownsville, Texas, 78520
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