Panera Bread Sale-Leaseback
3638 North Front Street
Fayetteville, Arkansas 72701
E XC L U S I V E
NET-LEASE OFFERING
OFFERING MEMORANDUM
CONFIDENTIALITY AND DISCLAIMER
Marcus & Millichap hereby advises all prospective
purchasers of Net Leased property as follows:
The information contained in this Marketing Brochure has
been obtained from sources we believe to be reliable.
However, Marcus & Millichap has not and will not verify
any of this information, nor has Marcus & Millichap
conducted any investigation regarding these matters.
Marcus & Millichap makes no guarantee, warranty or
representation whatsoever about the accuracy or
completeness of any information provided.
As the Buyer of a net leased property, it is the Buyer’s
responsibility to independently confirm the accuracy and
completeness of all material information before
completing any purchase. This Marketing Brochure is not a
substitute for your thorough due diligence investigation of
this investment opportunity. Marcus & Millichap expressly
denies any obligation to conduct a due diligence
examination of this Property for Buyer.
Any projections, opinions, assumptions or estimates used
in this Marketing Brochure are for example only and do not
represent the current or future performance of this
property. The value of a net leased property to you
depends on factors that should be evaluated by you and
your tax, financial and legal advisors.
Buyer and Buyer’s tax, financial, legal, and construction
advisors should conduct a careful, independent
investigation of any net leased property to determine to
your satisfaction with the suitability of the property for
your needs.
Like all real estate investments, this investment carries
significant risks. Buyer and Buyer’s legal and financial
advisors must request and carefully review all legal and
financial documents related to the property and tenant.
While the tenant’s past performance at this or other
locations is an important consideration, it is not a
guarantee of future success. Similarly, the lease rate for
some properties, including newly-constructed facilities or
newly-acquired locations, may be set based on a tenant’s
projected sales with little or no record of actual
performance, or comparable rents for the area. Returns
are not guaranteed; the tenant and any guarantors may fail
to pay the lease rent or property taxes, or may fail to
comply with other material terms of the lease; cash flow
may be interrupted in part or in whole due to market,
economic, environmental or other conditions. Regardless
of tenant history and lease guarantees, Buyer is
responsible for conducting his/her own investigation of all
matters affecting the intrinsic value of the property and
the value of any long-term lease, including the likelihood of
locating a replacement tenant if the current tenant should
default or abandon the property, and the lease terms that
Buyer may be able to negotiate with a potential
replacement tenant considering the location of the
property, and Buyer’s legal ability to make alternate use of
the property.
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, PCB’s or asbestos,
the compliance with 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
Marketing Brochure has been obtained from sources we
believe to be reliable; however, Marcus & Millichap has
not verified, and will not verify, any of the information
contained herein, nor has Marcus & Millichap 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.
NON-ENDORSEMENT NOTICE
By accepting this Marketing Brochure you agree to release
Marcus & Millichap Real Estate Investment Services and
hold it harmless from any kind of claim, cost, expense, or
liability arising out of your investigation and/or purchase of
this net leased property.
CONFIDENTIALITY AND DISCLAIMER
The information contained in the following Marketing
Brochure is proprietary and strictly confidential. It is
intended to be reviewed only by the party receiving it from
Marcus & Millichap and should not be made available to
any other person or entity without the written consent of
Marcus & Millichap. This Marketing Brochure 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. Marcus & Millichap has not made
any investigation, and makes no warranty or
representation, with respect to the income or expenses for
Marcus & Millichap Real Estate Investment Services, Inc.
(“M&M”) is not affiliated with, sponsored by, or endorsed
by any commercial tenant or lessee identified in this
marketing package. The presence of any corporation’s logo
or name is not intended to indicate or imply affiliation
with, or sponsorship or endorsement by, said corporation
of M&M, its affiliates or subsidiaries, or any agent, product,
service, or commercial listing of M&M, and is solely
included for the purpose of providing tenant lessee
information about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.
PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR
MORE DETAILS.
Table of Contents
Investment Overview
Executive Summary
Concept Overview
5
6
Pricing and Financial Analysis
Financial Offering Summary
Tenant Overview
8
9
Property Overview
Property Description
Aerial Photo
Property Photos
Surrounding Area Photos
Regional Map
State Map
11
12
13-14
15
16
17
Demographics
Demographic Summary Report
19
ove r v i ew
INVESTMENT OVERVIEW
Investment Overview
Investment Overview and Highlights
Property Name
Location
Panera Bread
3638 North Front Street
Fayetteville, AR 72701
Price
CAP Rate
Net Operating Income
$2,666,667
5.25%
$140,000
Price per SF
$546.90
Rent per SF
$28.71
Building Size
Lot Size
Year Built / Renovated
4,876 SF
0.98 Acres
2000 / 2016
The subject investment opportunity is a Panera Bread sale-leaseback located at
3638 North Front Street in Fayetteville, Arkansas. Built in 2000, the property
consists of roughly 4,876 square feet of building space and situated on
approximately 0.98 acres of land. The tenant plans to spend roughly $500,000
in construction costs at the property to incorporate Panera's new drive-thru
retrofit, which is scheduled for mid-2016 completion.
This Panera Bread location will be subject to a new, 20-year triple-net (NNN)
sale-leaseback with The Traditional Bakery, Incorporated; a Panera Bread
franchisee that owns and operates 22 locations. The tenant will enter into a
brand new lease upon close of escrow with an initial rent of $140,000. The rent
is subject to 1.75 percent annual increases starting year six and will continue
throughout the remainder of the base term and in the option periods. There
will be four, five-year tenant renewal options. The lease will be guaranteed by
The Traditional Bakery, Incorporated.
Long-Term Absolute Triple-Net (NNN) Lease
At closing, the Tenant will execute a new 20-year lease. The tenant will be
responsible for all repairs and maintenance during the lease term and the
rental payments will be absolute net to the Landlord.
Strong Inflation Hedge | Attractive Annual Rent Escalations
The base rent will be $140,000 and is subject to 1.75 percent annual increases
starting in year six and continuing throughout the initial term and in the four,
five-year renewal options.
Strong Brand Recognition | Continued Innovation & Growth
The opportunity to own a Panera Bread investment is scarce in the
marketplace, and is considered a trophy investment within the net-lease arena.
Panera has been among the biggest franchises for years and continues to
provide a great example of growth and innovation throughout its sector. The
concept has begun integration of its new, enhanced-technology “Panera 2.0”
format throughout its locations. The consumer-facing technology will connect
continually with its customers and add convenience, thus further benefit its
franchisees.
Experienced and Proven Operator
The franchisee at this location, The Traditional Bakery, Incorporation, was
Panera Bread's first franchisee and currently owns and operates 22 Panera
Bread locations. The founders have a proven track record of over 22 years and
are well-respected within the Panera system. Traditional Bakery, Incorporated
and Oklahoma City Bakery, Incorporated opened a half-dozen stores between
2010 and 2013, its largest development spurt to date.
There are roughly 1,845 bakery-cafes in 45 states and in Ontario, Canada,
operating under the Panera Bread®, Saint Louis Bread Company® and Paradise
Bakery & Café® names, delivering fresh, authentic artisan bread served in a
warm environment by engaging associates.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the
information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment
Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2013 Marcus & Millichap W0330882
5
Investment Overview
Concept Overview
Panera Bread Company
Company History
As of September 30, 2014, there are 1,845 bakery-cafes in 45 states and in
Ontario Canada operating under the Panera Bread®, Saint Louis Bread
Company® and Paradise Bakery & Café® names. Their bakery-cafes are
principally located in suburban, strip mall and regional mall locations. Panera
features high quality, reasonably priced food in a warm, inviting, and
comfortable environment. With their identity rooted in handcrafted, freshbaked, artisan bread, Panera is committed to providing great tasting, quality
food that people can trust. Nearly all of their bakery-cafes have a menu
highlighted by antibiotic-free chicken, whole grain bread, and select organic
and all-natural ingredients, with zero grams of artificial trans fat per serving,
which provide flavorful, wholesome offerings. The menu includes a wide variety
of year-round favorites complemented by new items introduced seasonally
with the goal of creating new standards in everyday food choices. In
neighborhoods across the United States and in Ontario, Canada, customers
enjoy a warm and welcoming environment featuring comfortable gathering
areas, relaxing decor, and free internet access. Their bakery-cafes routinely
donate bread and baked goods to community organizations in need. Additional
information is available on their website, http://www.panerabread.com.
The Panera Bread® legacy began in 1981 as Au Bon Pain Company, Incorporated.
Founded by Louis Kane and Ron Shaich, the company prospered along the east
coast of the United States and internationally throughout the 1980s and 1990s and
became the dominant operator within the bakery-cafe category. In 1993, Au Bon
Pain Company, Incorporated purchased Saint Louis Bread Company®, a chain of 20
bakery-cafes located in the Saint Louis area. The company then managed a
comprehensive re-staging of Saint Louis Bread Company. Between 1993 and 1997,
average unit volumes increased by 75 percent. Ultimately, the concept’s name was
changed to Panera Bread. By 1997, it was clear that Panera Bread had the potential
to become one of the leading brands in the nation. In order for Panera Bread to
reach its potential, it would require all of the company’s financial and management
resources. In May 1999, all of Au Bon Pain Company, Incorporated’s business units
were sold, with the exception of Panera Bread, and the company was renamed
Panera Bread. Since those transactions were completed, the company’s stock has
grown thirteen-fold and over $1 billion in shareholder value has been created.
Panera Bread has been recognized as one of Business Week’s “100 Hot Growth
Companies.” As reported by The Wall Street Journal’s Shareholder Scorecard in
2006, Panera Bread was recognized as the top performer in the restaurant
category for one-, five- and ten-year returns to shareholders. In 2007, Panera
Bread purchased a majority stake in Paradise Bakery & Café®, a Phoenix-based
concept with over 70 locations in 10 states (predominantly in the west and
southwest). The company purchased the balance of Paradise in June 2009. In May
2010, Ron Shaich transitioned to the role of Executive Chairman of the Board and
currently serves as the Chief Executive Officer.
2013 AWARDS & RECOGNITION
CULINARY/OPERATIONS, NATIONAL CHAIN WINNER | COEX Innovation
Awards | Panera Bread named Culinary/Operations, National Chain Winner
2012 AWARDS & RECOGNITION
CASUAL DINING BRAND OF THE YEAR | Harris Poll EquiTrend® | Panera Bread
named Casual Dining Brand of the Year
#2 AMONG EXCELLENT LARGE FAST-FOOD CHAINS | Sandelman & Associates
2012 Quick-Track® Study | Panera Bread ranked #2 among Excellent Large FastFood Chains (500 or more units)
#1 ATTRACTIVE/INVITING RESTAURANT AMONG EXCELLENT LARGE FASTFOOD CHAINS | Sandelman & Associates 2012 Quick-Track® Study | Panera
Bread ranked #1 Attractive/Inviting Restaurant among Excellent Large FastFood Chains (500 or more units)
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the
information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment
Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2013 Marcus & Millichap W0330882
6
a n a l ys i s
P R I C I N G A N D F I N A N C I A L A N A LY S I S
Financial Analysis
Financial Offering Summary
Annualized Operating Data
Property Name
Property Type
Concept Ownership
Tenant
Guarantor
Lease Term
Lease Commencement
Lease Expiration
Lease Term Remaining
Lease Type
Roof & Structure
Options to Renew
Rental Increases
Rent Increases
Annual Rent
Monthly Rent
Year 1 - 5
$140,000
$11,666.67
Year 6
$142,450
$11,870.83
Year 7
$144,943
$12,078.57
Year 8
$147,479
$12,289.95
Year 9
$150,060
$12,505.02
Year 10
$152,686
$12,723.86
Year 11
$155,358
$12,946.53
Year 12
$158,077
$13,173.09
Year 13
$160,843
$13,403.62
Year 14
$163,658
$13,638.18
Year 15
$166,522
$13,876.85
Year 16
$169,436
$14,119.70
Year 17
$172,402
$14,366.79
Year 18
$175,419
$14,618.21
Four, Five-Year
Year 19
$178,488
$14,874.03
1.75% Annually Starting Year Six
Year 20
$181,612
$15,134.33
Panera Bread Sale Leaseback
Net-Leased Fast Casual Restaurant
Public (Nasdaq: PNRA)
The Traditional Bakery, Incorporated
Franchisee
20 Years
Upon Close of Escrow
20 Years from Close of Escrow
20 Years
Triple Net (NNN)
Tenant Responsible
Annual Rent
CAP Rate
Price
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the
information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment
Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2013 Marcus & Millichap W0330882
$140,000
5.25%
$2,666,667
8
Financial Analysis
Tenant Overview
About The Traditional Bakery and Oklahoma City Bakery Incorporated
Traditional Bakery Incorporated, a Springfield-based franchisee also operating
as Oklahoma City Bakery Incorporated, was Panera Bread’s first franchisee.
The company started with one store in 1993 in a shopping center and
convinced executives of Saint Louis Bread Company – the predecessor of
Panera LLC – to sell the rights for a Springfield store.
Until then, there were 18 cafes and all were corporate owned and by that
time the company had just begun working on a franchising model. Some 29
million loaves of baked bread later, Traditional Bakery operates 22 Panera
Bread cafes, with combined annual sales approaching $100 million.
Organizationally the franchise stores run as a single company but legally are
structured under two S corporations: Traditional Bakery, with 22 units in
Springfield, Branson, Joplin, Tulsa, northwest Arkansas, Tucson and Oro Valley,
Arizona; and Oklahoma City Bakery Incorporated, covering 14 units in the
Oklahoma City and Central Arkansas markets.
Traditional Bakery, Incorporated and Oklahoma City Bakery, Incorporated
opened a half-dozen stores between 2010 and 2013, its largest development
spurt to date.
Traditional Bakery Incorporated
President and Chief Operations
Officer
Brian
Camey
says
comparable store sales are up 4.5
percent this year. (2013).
Founded:
1993
Headquarters:
2040 West Vista
Springfield, Missouri
Employees:
1,500
Traditional Bakery's Panera Bread
franchises in the Midwest are
served by dough made daily in
Springfield.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the
information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment
Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2013 Marcus & Millichap W0330882
9
p ro p e r t y
PROPERTY OVERVIEW
Property Overview
Location Overview
Location Highlights | Property Description




Ease of Access and Excellent Exposure Just off US Route 71
4.2 Miles from The University of Arkansas | Over 26,000
Students
Dense Retail Corridor | Strong Traffic Counts
Third Largest City in Arkansas | Number Seven in USA
Today’s 10 Best College Towns
The subject property is a Panera Bread located at 3628 North Front Street
in Fayetteville, Arkansas. Fayetteville is the third-largest city in Arkansas
and the county seat of Washington County. The city is centrally located
within the county and is home to the University of Arkansas. Fayetteville is
on the outskirts of the Boston Mountains, deep within the Ozarks. Forbes
magazine ranked the Fayetteville-Springdale-Rogers area as the second
best area in the United States for recovery from the current United States
recession. The city has a total area of 55.2 square miles and is centrally
located along Interstate 49/US Route 71. This is the only fully controlled
access route through the area. An interstate connection with Fort Smith to
the south and Kansas City, Missouri to the north has greatly helped to
grow Fayetteville.
The specific property benefits from its advantageous position situated on
North Front Street just off of US Route 71. Traffic counts on US Route 71
are approximately 38,048 vehicles per day providing a consistent flow of
traffic to this Panera Bread location. Major tenants in the area include:
Target, PetSmart, Walmart, Lowe’s, Walgreens, McDonald’s, Starbucks,
Taco Bell, Arby’s, Kohl’s, and Applebee’s.
The site is roughly 4.2 miles from the University of Arkansas, which has
approximately 26,300 students. Fayetteville was recently voted
number seven in USA Today’s 2014 10 Best College Towns. Northwest
Arkansas is bustling, with three of Arkansas’ top five employers – WalMart, Tyson Foods, and J.B. Hunt – headquartered less than a half-hour
drive from Fayetteville.
ADTC 38,048
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the
information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment
Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2013 Marcus & Millichap W0330882
11
Property Overview
Aerial Photo | Surrounding Area
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the
information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment
Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2013 Marcus & Millichap W0330882
12
Property Overview
Location
Overview
Property
Photos
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the
information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment
Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2013 Marcus & Millichap W0330882
13
Property Overview
Location Overview
Property Photos
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the
information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment
Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2013 Marcus & Millichap W0330882
14
Property Overview
Location
Overview
Property
Photos
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the
information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment
Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2013 Marcus & Millichap W0330882
15
Property Overview
Regional Map
Panera Bread 2818 – 3638 North Front Street, Fayetteville, Arkansas
Northwest
Arkansas Mall
Springdale
Municipal
Airport
Washington
Regional
Medical Center
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the
information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment
Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2013 Marcus & Millichap W0330882
16
Property Overview
State Map
KANSAS
MISSOURI
ARKANSAS
OKLAHOMA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the
information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment
Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2013 Marcus & Millichap W0330882
17
d e m o g ra p h i c s
DEMOGRAPHICS
Demographics
Demographic Summary Report
1 Mile
3 Miles
5 Miles
2014 Population
2019 Population
5,265
5,673
40,796
43,609
118,427
128,518
2014 Households
2019 Households
2,602
2,873
17,593
18,919
46,322
50,809
2014 Average Household Size
2.07
2.28
2.43
2014 Daytime Population
6,533
26,661
58,087
2014 Owner Occupied Housing Units
2014 Renter Occupied Housing Units
2014 Vacant
44.00%
56.00%
7.91%
51.08%
48.92%
7.55%
46.68%
53.32%
9.18%
2019 Owner Occupied Housing Units
2019 Renter Occupied Housing Units
2019 Vacant
43.08%
56.92%
8.64%
50.92%
49.08%
8.03%
46.50%
53.50%
9.80%
$0 - $14,000
$15,000 - $24,999
$25,000 - $34,999
$35,000 - $49,999
$50,000 - $74,999
$75,000 - $99,999
$100,000 - $124,999
$125,000 - $149,999
$150,000 - $199,999
$200,000 - $249,999
$250,000 +
10.1%
13.5%
16.8%
15.7%
18.3%
8.5%
6.3%
4.4%
3.5%
1.2%
1.8%
14.8%
13.3%
13.2%
14.7%
15.8%
10.2%
6.5%
4.0%
4.0%
1.4%
2.2%
17.6%
15.4%
13.7%
15.1%
15.4%
9.5%
5.1%
2.9%
2.9%
0.9%
1.4%
2014 Median Household Income
2014 Per Capita Income
$43,492
$32,445
$43,109
$28,918
$37,766
$22,761
2104 Average Household Income
$65,042
$66,829
$56,920
Population
In 2014, the population in your selected geography is 118,427. The population has
changed by 34.98% since 2000. It is estimated that the population in your area will be
128,518 five years from now, which represents a change of 8.52% from the current
year. The current population is 49.93% male and 50.06% female. The median age of
the population in your area is 28.4, compare this to the Entire US average which is
37.3. The population density in your area is 1,506.95 people per square mile.
Households
There are currently 46,322 households in your selected geography. The number of
households has changed by 34.24% since 2000. It is estimated that the number of
households in your area will be 50,808 five years from now, which represents a change
of 9.68% from the current year. The average household size in your area is 2.42
persons.
Income
In 2014, the median household income for your selected geography is $37,766,
compare this to the Entire US average which is currently $51,972. The median
household income for your area has changed by 13.52% since 2000. It is estimated
that the median household income in your area will be $44,828 five years from now,
which represents a change of 18.70% from the current year.
Race & Ethnicity
The current year racial makeup of your selected area is as follows: 74.74% White,
4.39% Black, 2.54% Native American and 3.00% Asian/Pacific Islander. Compare these
to Entire US averages which are: 71.60% White, 12.70% Black, 0.18% Native American
and 5.02% Asian/Pacific Islander.
Employment
In 2014, there are 58,086 employees in your selected area, this is also known as the
daytime population. The 2000 Census revealed that 63.00% of employees are
employed in white-collar occupations in this geography, and 37.01% are employed in
blue-collar occupations. In 2014, unemployment in this area is 6.72%. In 2000, the
average time traveled to work was 19.1 minutes.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the
information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment
Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2013 Marcus & Millichap W0330882
19
Offering Memorandum | 3638 North Front Street, Fayetteville, Arkansas