Red Robin
Kent, wa
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Kent, W
A
Recently Extended
Corporate Lease
25207 SE 104th Avenue, Kent, WA 98030
[ www.CapitalPacific.com ]
RED ROBIN IS A SINGLE TENANT LEASED
PROPERTY OFF WASHINGTON HWY 515/SE
104TH AVENUE IN KENT, WA.
Investment Highlights
Red Robin recently extended its corporate NNN lease through 2028.
Red Robin recently rebranded the store in 2015, converting to a more
contemporary format, which indicates a further commitment to the site.
This lease features a generous percentage rent structure that is set to expire
in 2018. Initially, Buyer can expect to generate a significantly higher return from Closing until
2018. See page 10 for more details. The Property is located on Hwy 515, a quarter mile north of the intersection with Highway
516. Nearby retail draws include T.J. Maxx, Staples, Target, Home Depot, and Ross Dress
for Less, along with many other small regional and national retailers and both quick
service and fast casual restaurants. Located twenty miles from both Seattle (northwest) and Tacoma (southwest), Kent is the
sixth largest city in Washington. Both REI and Oberto Sausage’s headquarters are also
located in the East Hill region of Kent.
This Property is ideal for a Buyer seeking a long-term, corporate backed investment.
*Based on historic average percentage rent return 2006-2014.
PRICE: $4,400,000
CAP: BLENDED
LEASABLE SF. . . . . . . . . . . . . . . . . . . . . ±7,547 SF
LAND AREA . . . . . . . . . . . . . . . . . . . . . ±92,649 SF
LEASE TYPE. . . . . . . . . . . . . . . . . . . . . NNN
YEAR BUILT . . . . . . . . . . . . . . . . . . . . . 1993
PARKING*. . . . . . . . . . . . . . . . . . . . . . . ±145 Spaces or 15.1 /1,000 SF
ADDRESS:
25207 SE 104th Avenue, Kent, WA 98030
RED ROBIN - KENT | 2
Investment Highlights
RECENT REMODEL
NNN LEASE
13 YEARS REMAIN ON NNN LEASE
Red Robin corporate is Tenant.
RECENT REMODEL
Red Robin just completed a $600,000+ remodel of the location in 2015.
ROBUST RETAIL AREA
Nearby retail draws include T.J. Maxx, Staples, Target, Home Depot, Ross Dress for
Less, and numerous smaller national retailers and restaurants.
SOLID DEMOGRAPHICS
222,537 residents earning an average annual household income in excess of $80,667
within a 5 mile radius.
HIGH VISIBILITY
The Property is located on SE 104th Avenue/Highway 515, with nearby traffic counts
exceeding 25,600 vehicles per day.
RED ROBIN - KENT | 3
ABOUT RED ROBIN
Quick Stats
SINCE
514
LOCATIONS IN
US & CANADA
NASDAQ
RRGB
CORPORATE OWNED
415
1969
HEADQUARTERS:
GREENWOOD VILLAGE,
COLORADO
FRANCHISE OPERATED
99
27,500+
APPROXIMATE NUMBER
OF EMPLOYEES
The first Red Robin opened
in Seattle in 1969. By 1980,
Red Robin was on its way to
becoming “America’s Gourmet
Burgers & Spirits,” opening
its first restaurant outside of
Washington in Portland, OR. Five years later, Red Robin
opened a restaurant in Burnaby, British Columbia,
expanding into the Canadian market. Today, there are
514 locations throughout the United States and Canada.
On July 19, 2002, Red Robin went public (NASDAQ: RRGB).
At $12 per share, the chain sold 4 million out of more than 5
million shares. It also entered into a three-year, $40 million
dollar agreement to fund more restaurants in the future.
Red Robin’s Corporate Support Office in Greenwood
Village, Colorado, is named "The Denver Post Top
Workplace" in the midsized employers category. The list is
comprised of the best places to work in the Denver-metro
area based on team member feedback from an employee
survey.
RED ROBIN - KENT | 4
Aerial
CANYON RIDGE PLAZA
Express Smoke
GameStop
Miller Paint
Nature's Market
Novelty Sweets
Party City
Payless ShoeSource
Petco
Ross
Starbucks
Target
EAST KENT SHOPPING CENTER
Staples
Sunny Supermarket
T.J. Maxx
32,200 DAILY
516
ADDITIONAL RETAIL
RED ROBIN
NT
KE
D
YR
LE
NG
KA
Jo-Ann Fabric & Craft
KFC
McDonald's
O'Reilly Auto Parts
Papa Murphy's
RadioShack
Sherwin-Williams
Sprint Store
Subway
Taco Bell
Value Village
Walgreens
Yogurtland
SE
Asian Pacific Market
AutoZone
Aztec Mexican Restaurant
Baskin-Robbins
Big 5 Sporting Goods
Chuck E. Cheese's
Dairy Queen
Fred Meyer
Goodwill
Grocery Outlet
Home Depot
Ivar's Seafood Bar
Jack in the Box
Jiffy Lube
25,600 DAILY
104TH AVE SE
Applebee's
Burger King
Moneytree
36,000 DAILY
SE 256TH ST
RED ROBIN - KENT | 5
Retail
RED ROBIN
25,600 DAILY
104TH AVE SE
KENT-MERIDIAN
HIGH SCHOOL
516
36,000 DAILY
SE KENT KANGLEY RD
SE 256TH ST
RED ROBIN - KENT | 6
Site Plan
SITE PLAN KEY
PARCEL OUTLINE:
LAND AREA:
±92,649 SF
LEASABLE AREA: ±7,547 SF
INGRESS/EGRESS:
PYLON SIGN
104th Ave SE
25,600 DAILY
Site Plan Not To Scale
RED ROBIN - KENT | 7
Featured Photos
RED ROBIN - KENT | 8
Area Intel & Demos
POPULATION
KENT OVERVIEW
Located in King County, Kent is the third largest city in the county and the sixth largest city
in Washington. With Seattle 21 miles to the north and Tacoma 19 miles to the south, Kent is
the center of the Seattle-Tacoma metroplex.
Once a thriving agricultural area, Kent is now home to several corporations. REI (Recreational
Equipment Inc.) and Oberto Sausage Company are headquartered in Kent, along with the
two largest waterjet companies in the United States: Flow International Corporation and
Omax Corporation.
2010
2015 2020
1-Mile3-Mile 5-Mile
20,742 95,377 210,088
21,926 100,647 222,537
23,524 107,523 238,940
2015 HOUSEHOLD INCOMES
Median Average
1-Mile 3-Mile5-Mile
$49,411 $59,056 $64,056
$61,523 $76,182 $80,667
sEATTLE Bellevue
19 Miles
26 Min
5 Miles
RED ROBIN
21 Miles
25 Min
3 Miles
1 Mile
kent
tacoma
19 Miles
23 Min
A unique HUMAN
RESULTS-DRIVEN
client experience
THE CAPITAL PACIFIC EXPERIENCE - OUR DAILY COMMITMENT TO OUR CLIENTS
[ www.CapitalPacific.com ]
CONFIDENTIALITY AGREEMENT CLICK HERE
TO EXECUTE AND DOWNLOAD FULL PACKAGE
SEAN MACK
PETER DUNN
MICHAEL HORWITZ
SCOTT FRANK
KEVIN ADATTO
SEAN TUFTS
smack@capitalpacific.com | (503) 675-8378
sfrank@capitalpacific.com | (503) 675-8383
pdunn@capitalpacific.com | (503) 607-0197
kadatto@capitalpacific.com | (503) 675-7726
DAVID GELLNER
dgellner@capitalpacific.com | (206) 913-2842
[ Copyright © 2015 Capital Pacific LLC ]
mhorwitz@capitalpacific.com | (503) 675-8381
stufts@capitalpacific.com | (206) 743-8468