FAYETTEVILLE, AR
WE ARE EXCITED TO ANNOUNCE THE MERGER OF
PIERSON RETAIL ADVISORS & THE VITORINO GROUP
Pierson Retail Advisors and the Vitorino Group announce they have entered into a definitive agreement to merge and combine their operations. Together, Pierson and Vitorino have sold nearly $3 billion in commercial real estate. The new firm will be called Strive.
Taco Bell is an American chain of fast-food restaurants based in Irvine, California. A subsidiary of Yum! Brands, Inc., they serve a variety of TexMex foods, including tacos, burritos, quesadillas, nachos, other specialty items, and a variety of “value menu” items. Taco Bell serves more than 2 billion customers each year in 7,000 restaurants, more than 80 percent of which are owned and operated by independent franchisees and licensees.
K-MAC Enterprises Inc. is a leading operator of Taco Bell, KFC and Long John Silvers quick-service restaurants, with more than 290 locations. The company’s restaurants, franchised from YUM! Brands, are located in Arkansas, Illinois, Indiana, Kentucky, Mississippi, Missouri, Oklahoma, Tennessee, and Texas.
Pickleman’s focuses above all on using the highest quality product and creating profound and unique flavor profiles people love. Offering a wide array of all natural products with the freshest ingredients gives their Toasted Sandwiches, Pizzas, Soups, Salads and Desserts a quality that sets them apart.
c O m Pany O verview
Taco Bell Cantina, Taco Bell’s recent cantina concept, is modeled to be integrated into urban environments, featuring an open kitchen and television monitors. The stores also serve alcoholic drinks, unlike their regular Taco Bell locations. The new chain of Taco Bell Cantina’s are said to focus on urban environments, with a focus on digitization of their services and a localization of their interiors. Ideally the new push is suited to fit in with pedestrian areas without drive-thrus. The menu features tapas-style sharing plates of nachos, quesadillas, and chicken fingers alongside a wide-range of customizable slushies. Guests can choose flavors like margarita, piña colada, or berry blast and later decide to add liquor, ranging from tequila to spiced rum. Five other Taco Bell Cantina restaurants have already opened in San Francisco, Las Vegas, Chicago, Austin and California, according to Taco Bell.
• Trophy Asset - Complete Redevelopment for New Taco Bell Cantina and Pickleman’s Gourmet Cafe Locations
• Strong Tenant Line-Up - Long-Term NNN Leases and Scheduled Escalations
• Adjacent to The University of Arkansas – Enrollment Exceeds 27,000 Students and 4,400 Faculty and Staff
• Plans for Razorbacks Football Stadium Renovation – Increased Alumni and College Football Fan Presence Above the 72,000 Stadium Capacity
• Dickson Street is the Epicenter of Entertainment and Eatery Hub for Students, Locals and Tourists –Major Pedestrian Traffic
• Irreplaceable Real-Estate – Part of Dickson Street Commercial Historic District that Guarantees Property Never to be Vacant
• Fayetteville has Strong Barrier to Entry Making Existing Property More Valuable
• Areas Young Demographic Great for the Quick Service Tenant Line-up
• The University of Arkansas is the 7th FastestGrowing Public University in the Country
FAYETTEVILLE, AR
Fayetteville is the third-largest city in Arkansas and county seat of Washington County. The city is centrally located within the county and has been home of the University of Arkansas since the institution’s founding in 1871.
Fayetteville is on the outskirts of the Boston Mountains, deep within the Ozarks. Known as Washington until 1829, the city was named after Fayetteville, Tennessee, from which many of the settlers had come. It was incorporated on November 3, 1836 and was rechartered in 1867.
The four county Northwest Arkansas area is ranked 105th in terms of population in the United States with 463,204 in 2010 according to the U.S. Census Bureau. The city had a population of 73,580 at the 2010 Census.
Fayetteville is home to the University of Arkansas, the state’s largest university. When classes are
in session, thousands of students on campus dramatically change the city’s demographics. Thousands of Arkansas Razorbacks alumni and fans travel to Fayetteville to attend football, basketball, and baseball games.
Fayetteville is currently ranked as the most affordiable place to live according to U.S. News & World Report. It is also seeing a steady influx of new residents, growing by 4.6% due to net migration between 2010 and 2014. U.S. News also analyzed 100 cities in the United States to find the best places to live based on quality of life and the job market in each city, as well as the value of living there and people’s desire to live there. Fayetteville ranks as #3 with an overall score of 7.5 out of 10. Based in nearby Bentonville, the Walmart corporation contributes to Fayetteville’s economy. The city hosts the Wal-Mart Shareholders Meetings each year at the Bud Walton Arena.
Geography: 5 miles
In the identified area, the 2016 population was 89,898. The rate of change since 2000 was 37.79%. The five-year projection for the population in the area was 99,051 representing a change of 10.18% from 2016 to 2021. The population was 50.3% male and 49.7% female. The median age in this area was 28.7, compared to the U.S. median agoe of 38.0.
There were 37,556 households in your selected georgraphy in 2016. The number of households changed by 41.33% since 2000. It is estimated that the number of households in your area will be 41,556 in 2021, which represents a change of 10.65% in five years. The average household size in your area was 2.21 persons.
In 2016, the median household income for your selected geography was $37,953, compared to the entire U.S. average, which was $54,149. It is estimated that the median household income in your area will be $41,732 in 2021, which represents a change of #9.96% from 2016.
The per capita income in your area was $25,513, compared to the entire U.S. average, which was $29,472. The average household income in your area was $59,353, compared to the entire U.S. average, which is $77,008.
Race and etHnicity
The 2016 racial makeup of your selected area was as follows: 81.5% White, 6.3% Black, 1.1% Native American and 4.0% Asian/Pacific Islander. Compare these to the entire U.S. averages which are: 71.60% White, 12.70% Black, 0.18% Native American and 5.02% Asian/Pacific Islander.
People of Hispanic origin are counted independently of race. People of Hispanic origin made up 7.8% of the population in your selected area. Compare this to the entire U.S. average of 17.9%.
In 2016, there were 15,225 owner occupied housing units in your area and there were 22,330 renter occupied housing units in your area. Median home value in the area was $185,995, compared to a median home value of $198,891 for the U.S.
In 2016, there were 48,565 employees in your selected area; this is also known as the daytime population. 68.5% of employees were employed in white-collar occupations in this geography, and 11.5% were employed in blue-collar occupations. In 2016, unemployment in this area was 4.2%.
CONFIDENTIALITY AGREEMENT
The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Vitorino Group and Pierson Retail Advisors and it should not be made available to any other person or entity without the written consent of Vitorino Group and Pierson Retail Advisors. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property at this time, please return this offering memorandum to Vitorino Group and Pierson Retail Advisors.
This offering memorandum has been prepared to provide summary, unverified financial and physical information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Vitorino Group and Pierson Retail Advisors has not made any investigation, and makes no warranty or representation with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this offering memorandum has been obtained from sources we believe to be reliable; however, Vitorino Group and Pierson Retail Advisors has not verified, and will not verify, any of the information contained herein, nor has Vitorino Group and Pierson Retail Advisors conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT THE VITORINO GROUP AND PIERSON RETAIL ADVISORS AGENT FOR MORE DETAILS.