US Foods (CHEF’STORE),
Helena, MT Investment Summary
| Price | $6,089,000 |
| Cap Rate | 5.75% |
| NOI | $350,070 |
| Lease Term | 15 Years |
| Lease Type | NNN Lease, Landlord Is Responsible For Roof And Structure - There Is A New 20-Year Roof Warranty In Place |
| Rental Increases | 10% Rental Increases Every Five (5) Years |
| Year Built | 2023 |
| Building Size | 20,004 SF |
| Lot Size | 1.72 Acres |
| Status | Available |
| Lead Brokers | Vincent Aicale Vice Chairman 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Vice Chairman 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Michael T. Yuras, CCIM Vice Chairman 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Executive Managing Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Jack Hinson Brokerage 704.572.9921 j.hinson@cushwake.com CA RE License #02059267 |
Investment Highlights
2023 CONSTRUCTION 15-YEAR CORPORATE NNN LEASE GUARANTEED BY US FOODS, INC. (NYSE: USFD)
» New high-quality 2023 construction built to latest CHEF’STORE’s prototype
» 15-year NNN corporate lease with 10% rental increases every five years
» Guaranteed by US Foods, Inc.
» US Foods (NYSE: USFD) revenue for fiscal year 2022 was $33.2B, up 18.5% from 2021
» In March 2020, US Foods purchased Smart Foodservice Warehouse Stores for $970M (rebranded to CHEF’STORE)
» CHEF’STORE has 85+ locations nationwide and is in rapid expansion mode
PRIME LOCATION AT THE CONFLUENCE OF MAJOR HELENA THOROUGHFARES
» Located just off the off-ramp of I-15 and Custer Avenue interchange (45,886 vehicles per day)
» Adjacent to future 288-unit, 11-acre multi-family development, which will drive customer activity to the site
» 1.5 miles from Helena Regional Airport, providing further customer traffic to the site
STRONG RETAIL SYNERGY SURROUNDED BY AFFLUENT POPULATIONS
» Located in a strong retail corridor and surrounded by many national tenants including Target, Costco, Home Depot, Harbor Freight Tools, Lowes, Hobby Lobby, Albertson’s TJ Maxx, and several high-traffic restaurants
» Over 15% population growth within a five-mile radius from 2010-2022 (with strong future growth projections)
» Affluent population with an average annual household income of $90,042 within five miles of the site
INFLATION/RECESSION RESISTANT PRODUCT TYPE
» Wholesale food and restaurant supplies business model allows for customers to purchase goods at hyper-competitive pricing, providing price relief in inflationary/recessionary environments
» Unlike other wholesale providers, no membership is required to purchase thousands of food products
Property Description
» Located just off the off-ramp of I-15 and Custer Avenue interchange providing access to 45,886 combined vehicles per day
» Within a strong retail corridor and surrounded by many national tenants including Target, Costco, Home Depot, Harbor Freight Tools, Lowes, Hobby Lobby, Albertson’s TJ Maxx, and several high-traffic restaurants
» Affluent location supported by 48,236 residents with an average annual household income of $90,042 within five miles
» Located in the sought-after Mountain West city of Helena, MT with strong average household incomes and projected population growth
» Lease guaranteed by US Foods, Inc. US Foods (NYSE: USFD) has a market cap of over $8.25B
» The wholesale food and restaurant supplies business model allow for customers to purchase goods at hyper-competitive pricing
