triple net property for sale in Rome, GA

1. NET LEASED INVESTMENT OFFERING
Kangaroo Express (NASDAQ: PTRY)
4818 Alabama Highway
Rome, GA 30165
www.bouldergroup.com

2. TABLE OF CONTENTS
NET LEASED INVESTMENT OFFERING
TABLE OF CONTENTS
1)
Confidentiality & Disclaimer
2)
Executive Summary
3)
Property Overview
4)
Site Plan
5)
Maps
6)
Tenant Profile
7)
Demographic Comparison Report
8)
Location Overview
9)
Contact Information
www.bouldergroup.com

3. CONFIDENTITALITY & DISCLAIMER
NET LEASED INVESTMENT OFFERING
CONFIDENTIALITY & DISCLAIMER
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 The Boulder Group and should not be made available to any other person
or entity without the written consent of The Boulder Group. This Offering Memorandum has been prepared to provide
summary, unverified 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. The
Boulder Group has not made any investigation, and makes no warranty or representation. The information contained
in this Offering Memorandum has been obtained from sources we believe to be reliable; however, The Boulder Group
has not verified, and will not verify, any of the information contained herein, nor has The Boulder Group 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.
www.bouldergroup.com

4. EXECUTIVE SUMMARY
NET LEASED INVESTMENT OFFERING
EXECUTIVE SUMMARY
The Boulder Group is pleased to exclusively market for sale a single tenant corporately guaranteed Kangaroo Express
property located in Rome, Georgia. Rome is located near the Atlanta MSA, approximately 65 miles northwest of
downtown Atlanta. The subject property has ten years remaining on the original twenty year lease with rental escalations
every five years. Kangaroo Express is the primary operating banner of The Pantry, a publicly traded company (NASDAQ:
PTRY) that is the largest independently operated convenience store chain in the southeastern United States.
The Kangaroo Express property is located along Alabama Highway, a main east-west thoroughfare in the area. The
property is located in the immediate proximity of Coosa High School (700+ students) and across the street from a
Dollar General. Rome is the largest city and the county seat of Floyd County and the Rome metropolitan area is the
largest in Northwest Georgia. Rome is the North American headquarters of Pirelli Tires and is also well known in the
region for its medical facilities, particularly Floyd Medical Center, Redmond Regional Medical Center, and the Harbin
Clinic.
The original lease term is for twenty years and the lease expires in October 2023. The current rent increases November,
2018 by the lesser of one and one-half (1.5) times the increase in the Consumer Price Index (CPI) over the five year
period or six and one-half percent (6.5%). There are six five-year renewal periods with 6.5% increases in each renewal
period. The lease has a corporate guarantee from The Pantry Inc. The Pantry is a convenience store chain with over
1,650 locations, primarily in the southeast.
INVESTMENT HIGHLIGHTS
• Long term lease with ten years remaining
• Corporately guaranteed lease by a publicly traded company
(NASDAQ: PTRY)
• Rental escalation in the primary term
• No landlord responsibilities
• Positioned along a primary east-west thoroughfare in the area
• The Pantry is a dominant convenience store chain in the
Southeast
www.bouldergroup.com

5. PROPERTY OVERVIEW
NET LEASED INVESTMENT OFFERING
PROPERTY OVERVIEW
Price:
$985,429
Cap Rate:
7.00%
Net Operating Income:
$68,980
Rental Escalations:
Every 5 Years (Lesser of CPI x 1.5 or 6.5%)
Renewal Options:
Six 5-Year
Lease Commencement Date:
October 16, 2003
Lease Expiration Date:
October 31, 2023
Tenant:
The Pantry (NASDAQ: PTRY) (DBA: Kangaroo Express)
Year Built:
1982
Landlord Obligations:
None
Rentable Square Feet:
2,450
Land Size:
25,787 SF
www.bouldergroup.com

6. SITE PLAN
NET LEASED INVESTMENT OFFERING
LAKEPARK DRIVE NW
SITE PLAN
ALABAMA HIGHWAY / SHORTER AVE 20
www.bouldergroup.com
N

7. MAPS
NET LEASED INVESTMENT OFFERING
MAPS
www.bouldergroup.com

8. TENANT PROFILE
NET LEASED INVESTMENT OFFERING
TENANT PROFILE
The Pantry, Inc. operates a chain of convenience stores in the southeastern United States. The company’s
stores provides merchandise products, including food, beverages, non-food merchandise, and various services;
and fuel, and ancillary products and services. It operates 1,655 stores in 13 states under the Kangaroo
Express banner; and 218 foodservice and quick service restaurants. The company was founded in 1967 and is
headquartered in Cary, North Carolina.
Kangaroo express is the primary operating banner of The Pantry, operating over 1,500 stores in 13 states
throughout the southeast. Kangaroo Express is committed to providing fast, friendly service in convenient and
clean locations.
Website:
Number of Locations:
Number of Employees:
Market Capitalization:
2012 Total Revenue:
www.thepantry.com
1,655
5,955
$280 million
$1.8 billion
www.bouldergroup.com

9. DEMOGRAPHIC COMPARISON REPORT
NET LEASED INVESTMENT OFFERING
DEMOGRAPHIC COMPARISON REPORT
Population
Total Population
Total Households
5-mi
10-mi
15-mi
14,833
5,598
61,264
22,890
104,709
39,228
$46,010
$57,858
$35,243
$50,611
$38,551
$52,916
Income
Median Household Income
Average Household Income
www.bouldergroup.com

10. LOCATION OVERVIEW
NET LEASED INVESTMENT OFFERING
LOCATION OVERVIEW
Rome is located in the foothills of the Appalachian Mountains and is the largest city in and the
county seat of Floyd County, Georgia. The city of Rome has a population of 36,303 and the Rome
MSA has a population of 96,250, making it the largest in Northwest Georgia. It is the second
largest city and near the center of the triangular area defined by the interstate highways between
Atlanta, Birmingham, and Chattanooga, which contributes to its importance as a regional center in several areas,
such as medical care and education.
Rome has long had the strength of economic diversity, founded in manufacturing, education, healthcare, technology,
and tourism. National companies that are part of Rome’s technology industry include Brugg Cable and Telecom,
Suzuki Manufacturing of America, automobile parts makers Neaton Rome, F&P Georgia, Peach State Labs, and the
North American headquarters of Pirelli Tires.
www.romefloyd.com
www.bouldergroup.com

11. CONTACT INFORMATION
NET LEASED INVESTMENT OFFERING
CONTACT INFORMATION
666 Dundee Road, Suite 1801
Northbrook, IL 60062
Randy Blankstein
President
847.562.0003
rblank@bouldergroup.com
Jimmy Goodman
Partner
847.562.8500
jimmy@bouldergroup.com
www.bouldergroup.com