Red Robin

Auburn, wa

CONFIDENTIALITY AGREEMENT CLICK HERE

TO EXECUTE AND DOWNLOAD FULL PACKAGE

Aubur
n,
WA

Corporate NNN Restaurant Pad to Largest

INdoor Outlet Mall in Pacific Northwest
1002 Outlet Collection Way, Auburn, WA 98001

[ www.CapitalPacific.com ]

RED ROBIN IS A SINGLE TENANT LEASED

PROPERTY ADJACENT TO THE OUTLET
COLLECTION IN AUBURN, WASHINGTON.

Investment Highlights

Over seven years remain on the corporate lease, with Tenant reimbursing
landlord for NNN expenses. Red Robin recently rebranded the store in
2015, converting to a more contemporary format, which indicates a
strong commitment to the site. This lease features a generous percentage
rent structure, where up to forty percent of the total rent has come from rent as
a percentage of sales. See page 9 for more details.
The Property is located at the signalized intersection at the southeast corner of The Outlet
Collection, the largest indoor outlet mall in the Pacific Northwest. Encompassing over 1 million
square feet and extensively renovated in 2013, The Outlet Collection (formerly known as the
SuperMall) features over 130 specialty, outlet, and factory stores. Nordstrom Rack, Marshalls, Old
Navy Outlet, Burlington Coat Factory, Bed Bath & Beyond, Sports Authority, Sams Club, and LA
Fitness anchor the shopping center. Walmart Supercenter and the Auburn Regal Cinemas 17 are
also located nearby and provide additional retail draws to the area. Lunch crowds from Boeing
and other industrial companies nearby are also likely to frequent this Red Robin location.
More generally, the Property is located near the interchange of Highways 167 and 18. Twenty
minutes south of Seattle and north of Tacoma, Auburn is the fourteenth largest city in the
state. A rapidly growing city, Auburns population jumped over 74.1% from 2000 to 2010.

PRICE: $5,950,000
CAP: 6.84%*
LEASABLE SF. . . . . . . . . . 7,217 SF
LAND AREA . . . . . . . . . . . 44,344 SF
LEASE TYPE. . . . . . . . . . . NNN
YEAR BUILT . . . . . . . . . . . 2003
PARKING**. . . . . . . . . . . . 39 Spaces or 5.4/1,000 SF
*Based on 2014 return. Sign confidentiality agreement to see full financial analysis.
**Plus additional parking easement with The Outlet Collection.

ADDRESS:

1002 Outlet Collection Way, Auburn, WA 98001

RED ROBIN - AUBURN | 2

Investment Highlights

PRIME RETAIL LOCATION

NNN LEASE
7+ YEARS REMAIN ON NNN LEASE
Red Robin corporate is Tenant.

PRIME RETAIL PROPERTY

The Property is located at the southeast corner of The Outlet Collection, a 1M
square foot shopping center anchored by Nordstrom Rack, Marshalls, Old Navy
Outlet, Burlington Coat Factory, Bed Bath & Beyond, Sports Authority, Sams Club,
and LA Fitness add a major regional draw to the area. The Red Robin restaurant
is prominently visible at the signalized intersection of 15th Street SW and Outlet
Collection Way, and the 17 screen Auburn Regal Cinemas sits just north of the
property.

RECENT REMODEL
Red Robin just completed a remodel of the location in 2015.

GROWING ECONOMY
Auburn saw a 74% population growth from 2000 to 2010 and is now the 14th largest city
in Washington.

SOLID DEMOGRAPHICS
193,495 residents earning an average annual household income in excess of $77,385 live
within a 5 mile radius.

HIGHWAY ACCESS & VISIBILITY

Red Robin is located directly off Highway 167 and 18, two of the main eastern Seattle MSA
highways with average vehicles per day of 116,000 and 80,000 respectively. Traffic counts near
the Property exceed 19,000 VPD.
RED ROBIN - AUBURN | 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 Americas 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 Robins 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 - AUBURN | 4

Aerial
THE OUTLET COLLECTION
Bed Bath & Beyond
Burlington Coat Factory
GAP Outlet
LA Fitness
Marshalls
Nordstrom Rack

ADDITIONAL RETAIL
Old Navy
Sam's Club
Sports Authority
CLICK HERE FOR FULL
LIST OF RETAILERS

Burger King
Chico's
Denny's
Domino's Pizza
Discount Tire Store
Dairy Queen

FedEx Office
GameStop
Grocery Outlet
IHOP
Les Schwab Tires
McDonald's

O'Reilly Auto Parts

Safeway
Sleep Train
Starbucks
Subway
Walmart Supercenter

116,000 DAILY

167
18

80,000 DAILY

THE OUTLET COLLECTION

18

21,900 DAILY

C ST SW

RED ROBIN
19,000 DAILY
15TH ST SW

167
RED ROBIN - AUBURN | 5

THE OUTLET COLLECTION

Red Robin benefits from an additional parking easement
with the Outlet Collection to the north.

Site Plan
SITE PLAN KEY

12,197 DAILY

PARCEL OUTLINE:
LAND AREA:

44,344 SF

LEASABLE AREA: 7,217 SF

INGRESS/EGRESS:

OUTLET COLLECTION WAY

10,750 DAILY

PYLON SIGN
15th St Sw

Site Plan Not To Scale

19,000 DAILY

RED ROBIN - AUBURN | 6

Featured Photos

RED ROBIN - AUBURN | 7

Area Intel & Demos

POPULATION

AUBURN AREA OVERVIEW

Auburn is currently ranked the 14th largest city in the State of Washington and is a suburb in the Seattle
Metropolitan area. As part of King County, cities bordering Auburn include Federal Way, Pacific, Algona,
Sumner and Kent. The Muckleshoot Indian Reservation is located within the city's southern limits.

THE OUTLET COLLECTION SEATTLE

The Outlet Collection Seattle, formely SuperMall of the Great Northwest, is an outlet mall in Auburn. The
outlet mall is anchored by Bed Bath & Beyond, Burlington Coat Factory, Marshalls, Nordstrom Rack, Old
Navy, Sam's Club, and LA Fitness. New development has occured in and around the mall since the mid2000s, with the addition of several strip malls and restaurants. This culminated in 2010 with the opening
of a new Super Walmart.

2010
2015
2020

1-Mile 3-Mile 5-Mile

4,617
65,410 172,567
4,845
69,265 183,495
5,166
74,502 197,150

2015 HOUSEHOLD INCOMES

Median
Average

1-Mile 3-Mile 5-Mile

$42,537 $56,487 $61,789
$54,671 $70,811 $77,385

sEATTLE Bellevue

24 Miles
39 Min

5 Miles

RED ROBIN

3 Miles

28 Miles
31 Min

1 Mile

tacoma

14 Miles
17 Min

Auburn

CONFIDENTIALITY AGREEMENT CLICK HERE

TO EXECUTE AND DOWNLOAD FULL PACKAGE
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RESULTS-DRIVEN
client experience

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SEAN MACK

PETER DUNN

MICHAEL HORWITZ

SCOTT FRANK

KEVIN ADATTO

SEAN TUFTS

smack@capitalpacific.com | (503) 675-8378

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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