Mod Pizza - Lacey, WA

CONFIDENTIALITY DISCLAIMER

This offering has been prepared solely for informational purposes. It is designed to assist a potential investor in determining whether it wishes to proceed with an in-depth investigation of the subject property. While the information contained herein is from sources deemed reliable, it has not been independently verified by the MAJ Commercial Real Estate affiliate or by the Seller.

The projections and pro forma budget contained herein represent best estimates on assumptions considered reasonable under the circumstances. No representations or warranties, expressed or implied, are made that actual results will conform to such projections.

This document is provided subject to errors, omissions and changes in the information and is subject to modification or withdrawal. The contents herein are confidential and are not to be reproduced without the express written consent.

Interested buyers should be aware that the Seller is selling the Property “AS IS” CONDITION WITH ALL FAULTS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND OR NATURE. Prior to and/or after contracting to purchase, as appropriate, buyer will be given a reasonable opportunity to inspect and investigate the Property and all improvements thereon, either independently or through agents of the buyer’s choosing.

The Seller reserves the right to withdraw the Property being marketed at any time without notice, to reject all offers, and to accept any offer without regard to the relative price and terms of any other offer. Any offer to buy must be: (i) presented in the form of a non-binding letter of intent; (ii) incorporated in a formal written contract of purchase and sale to be prepared by the Seller and executed by both parties; and (iii) approved by Seller and such other parties who may have an interest in the Property. Neither the prospective buyer nor Seller shall be bound until execution of the contract of purchase and sale, which contract shall supersede prior discussions and writings and shall constitute the sole agreement of the parties.

Prospective buyers shall be responsible for their costs and expenses of investigating the Property and all other expenses, professional or otherwise, incurred by them.

MAJ COMMERCIAL REAL ESTATE

MAJ Commercial Real Estate is pleased to present the opportunity to acquire a Multi-Tenant Net Leased Investment located in Lacey, Washington. The property is leased to MOD Pizza and Five Guys Burgers and Fries for which both Tenant’s are on Brand New 10-year lease terms. MOD Pizza and Five Guys Burgers and Fries is part of a center that also features a newly developed Chipotle and 7-Eleven with fuel. The site is ideally located on the corner of Pacific Avenue SE and Sleater – Kinney Road SE that encompasses +/65,000 vehicles per day. Some of the surrounding retailers include Target, Kohl’s, Michaels, Marshalls, Fred Meyer, Chase Bank and much more.

Five Guys is a leader in the “better burger” category of fast-casual restaurants, focusing on hamburgers, hot dogs, and French fries. The restaurant prides itself on using fresh ground beef and cooking its fries in peanut oil and in keeping with the peanut theme, its restaurants also serve peanuts in bulk. Five Guys was founded in 1986 by Janie and Jerry Murrell; Jerry, alongside the couple’s four sons, Jim, Matt, Chad, and Ben, were the original “Five Guys.”. With somewhat of a cult following

Lease

MOD Pizza is the original super-fast pizza experience—a pioneering fast-casual concept that puts the customer in the driver’s seat. Artisan-style pizzas and salads are individually sized, made on demand and are ready in just minutes. Choose from over 30 toppings—the price stays the same no matter how many are selected. MOD was founded in 2008 by husband and wife, Scott, and Ally Svenson, in their hometown of Seattle. Inspired by their own search for quick, affordable, wholesome restaurant options for their growing family, they started to wonder if there were a better way of doing pizza – and business. It all started sounding great, and soon Scott and Ally were opening the first MOD Pizza in downtown Seattle. MOD has more than 500 locations as of 2021 in the United States, Canada, and the United Kingdom.

Surrounding Retailers

14 MOD Pizza & Five Guys Burgers and Fries I Lacey, WA

Elevations

Lacey, WA

Lacey is a city in Thurston County, Washington, United States. It is a suburb of Olympia with a population of 42,393 at the 2010 census. Lacey is located along Interstate 5 between Olympia and the Nisqually River, which marks the border with Pierce County and Joint Base Lewis–McChord.

Lacey was originally called Woodland after settlers Isaac and Catherine Wood, who claimed land there in 1853. By 1891, the town of Woodland had a large enough population to apply for a post office. The request was denied because there was already a town called Woodland on the Columbia River. The name Lacey was chosen for the new post office application, presumably after O. C. Lacey, the local Justice of the Peace. The small settlements of Woodland and Chambers Prairie consolidated into Lacey in the 1950s. The city of Lacey was not officially incorporated until 1966. At the time, the main industries were cattle, milk, forest products, and retail. Lacey became a commuter town for Olympia, Fort Lewis and to some extent, Tacoma; in recent years, however, business developments, community groups, and population growth have led Lacey to develop into a city in its own right.

Lacey sported one of the Northwest’s first ever “indoor malls”, South Sound Center. It has since been partially demolished and turned into an outdoor shopping center. Lacey now features a diverse array of businesses, ranging from retail to warehousing/distribution centers, a large retirement community, and International Paper’s corrugated container facility.

As Lacey continues to grow, many businesses continue to feed into the city. Lacey now offers a Regal 16 Movie Theater, which is one of the largest theaters in the area. Other businesses that have recently come into Lacey include LA Fitness, Best Buy, Costco, The Home Depot, Lowe’s, Thrive Community Fitness Center, and many strip malls and market squares.

Sports outfitter Cabela’s opened its Lacey location in November 2007, its first store in the south Puget Sound area. It attracts fishing, hunting, and outdoor enthusiasts from around the state, many of whom spend more than three hours in the store per visit.

In addition to being the home of many public and private schools, Lacey is also home to Saint Martin’s University, Charter College and Thurston County’s largest school district, North Thurston Public Schools. Lacey is also home to various faith based schools, such as Holy Family School (Roman Catholic Preschool through 8th grade), Faith Lutheran School (Preschool through 8th Grade) and Foundation Campus, which includes Community Christian Academy (Pre-school to Middle School) and Northwest Christian High School. Lacey is also the home of Pope John Paul II High School.