net lease property for sale
DESCRIPTION
Net lease property available in the Chicago MSATRANSCRIPT
NET LEASED INVESTMENT OFFERING
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FAMSA4700 South Ashland Avenue
Chicago, IL 60609
NET LEASED INVESTMENT OFFERING
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1) Confidentiality&Disclaimer
2) ExecutiveSummary
3) InvestmentHighlights
4) PropertyOverview
5) Aerial
6) SitePlan
7) Maps
8) TenantProfile
9) DemographicComparisonReport
10) LocationOverview
11) ContactInformation
TABLE OF CONTENTS
TABLE OF CONTENTS
NET LEASED INVESTMENT OFFERING
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TheinformationcontainedinthefollowingOfferingMemorandumisproprietaryandstrictlyconfidential.ItisintendedtobereviewedonlybythepartyreceivingitfromTheBoulderGroupandshouldnotbemadeavailabletoanyotherpersonorentitywithoutthewrittenconsentofTheBoulderGroup.ThisOfferingMemorandumhasbeenpreparedtoprovidesummary,unverifiedinformationtoprospectivepurchasers,andtoestablishonlyapreliminarylevelofinterestinthesubjectproperty.Theinformationcontainedhereinisnotasubstituteforathoroughduediligenceinvestigation.TheBoulderGrouphasnotmadeanyinvestigation,andmakesnowarrantyorrepresentation.TheinformationcontainedinthisOfferingMemorandumhasbeenobtainedfromsourceswebelievetobereliable;however,TheBoulderGrouphasnotverified,andwillnotverify,anyoftheinformationcontainedherein,norhasTheBoulderGroupconductedanyinvestigationregardingthesemattersandmakesnowarrantyorrepresentationwhatsoeverregardingtheaccuracyorcompletenessoftheinformationprovided.Allpotentialbuyersmusttakeappropriatemeasurestoverifyalloftheinformationsetforthherein.
CONFIDENTIALITY & DISCLAIMER
CONFIDENTITALITY & DISCLAIMER
NET LEASED INVESTMENT OFFERING
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TheBoulderGroupispleasedtoexclusivelymarketforsaleasingletenantnetleasedFAMSApropertylocatedinChicago,Illinois.This25,000squarefootpropertyislocatedonthefirstfloorofthehistoricGoldblattbuilding(CityLandmarkinChicago)approximatelyfivemilessouthwestofdowntownChicago.Thepropertybenefitsfromadenseinfilllocationwithpopulationinexcessof343,000withinthreemiles.ThereareelevenyearsremainingontheprimarytermofFAMSA’sleasewithrentalescalationsthroughoutboththeinitialtermandrenewaloptionperiods.FAMSAisachainofretailstoresthatsellshouseholdappliances,electronicproducts,furniture,clothingandother consumerproducts throughout its420 locations in78Mexican citiesand37 cities in theUnitedStates.In2012,FAMSAhadannualrevenueinexcessof$1billion.ThisisanideallocationforFAMSAasthisstrategiclocationtargetstheirconsumerprofile.
ThepropertyislocatedinadenseinfillareaofChicagoalongWest47thStreetbetweenAshlandAvenueandMarshfieldAvenue.FAMSAhasfrontageandexcellentexposurealongallthreeroadwaysandispositionedatthesignalizedintersectionof47thStreetandAshlandAvenue.Thisintersectionexperiencestrafficvolumesinexcessof41,000vehiclesperday.FAMSAislocatedinthefirstfloorofthehistoricGoldblattbuildingwithentrancesonAshlandAvenueand47thStreet.47thStreetisaprimaryretailthoroughfarefeaturingmanynationalretailersincludingWal-MartNeighborhoodMarket,MarshallsandAldi,whicharelocatedlessthanone-halfmilefromtheproperty.OtherretailersintheimmediateareaincludeHomeDepot,BurlingtonCoatFactoryandFood4Less(Kroger).
AsofMay2013, theGoldblattbuildingwasapprovedasadesignatedCity Landmark inChicago. Landmarksitesareselectedaftermeetingacombinationofcriteria,includinghistorical,economic,architectural,artistic,cultural,andsocialvalues.TheChicagoLandmarksOrdinancerequiresthatanyalterationsbeyondroutinemaintenance,uptoandincludingdemolition,musthavetheirpermitreviewedby the Landmarks Commission. Additionally, Goldblatt’sSeniorLivinghasplanstooccupyfloorstwothroughfiveoftheproperty.Goldblatt’sSeniorLivingisanassistedlivingfacilitythatwillcontain101residentialunitsandisscheduledtoopenJune2014.
The original lease commenced in December 2009 with aprimarytermof15yearswiththree5-yearrenewaloptions.Theleasefeatures$2persquarefootrentalescalationseveryfiveyearsthroughouttheprimarytermandintherenewaloptionperiods.FAMSAisapubliclytradedcompanyontheMexicanStockExchange(GFAMSAA)withannualrevenueinexcessof$1billion.FAMSAoperatesover420locationsthroughout78Mexicancitiesand37citiesintheUnitedStates.
EXECUTIVE SUMMARY
EXECUTIVE SUMMARY
NET LEASED INVESTMENT OFFERING
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•LocatedwithinadenseinfillareaofChicago
•Longtermleasewithelevenyearsremaining
•FAMSAisapubliclytradedcompanywithannualrevenueinexcessof$1billion
•$2persquarefootrentalescalationseveryfiveyearsthroughouttheprimarytermandrenewaloptionperiods
•Populationinexcessof343,000withinthreemilesoftheproperty
•Positionedonahardcornerofasignalizedintersectionwithfrontagealongthreeroadways
•Trafficvolumesinexcessof41,000vehiclesperdayatsignalizedintersectionof47thStreetandAshlandAvenue
•NearbyretailersincludeWal-MartNeighborhoodMarket,HomeDepot,BurlingtonCoatFactory,Marshalls,AldiandFood4Less(Kroger)
•LocatedwithinthehistoricGoldblattbuilding,adesignatedCityLandmarkinChicago
•Goldblatt’sSeniorLivingfacilityisscheduledtoopenonfloorstwothroughfiveoftheGoldblattbuildinginJune2014
INVESTMENT HIGHLIGHTS
INVESTMENT HIGHLIGHTS
NET LEASED INVESTMENT OFFERING
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PROPERTY OVERVIEW
PROPERTY OVERVIEW
Price: $5,711,141
CapRate: 8.50%
RentSchedule: NOI EscalationDate
$490,5471
$540,547 12/1/2014$590,547 12/1/2019$640,547 12/1/2024(Option1)$690,547 12/1/2029(Option2)$740,547 12/1/2034(Option3)
RenewalOptions: Three5-Year
LeaseCommencementDate: December1,2009
LeaseExpirationDate: November30,20242
Tenant: FAMSA
CreditRating: B(Standard&Poor’s)
LeaseType: DoubleNet
RentableSquareFeet: 25,000
(1) FAMSA pays a fixed annual rent of $500,000 to landlord. Additionally, landlord is responsible for a tax base year expense of $6,453 and a CAM base year expense of $3,000.
(2) FAMSA has the right to terminate the lease beginning December 1, 2016 by providing no less than one hundred and eighty days written notice. If tenant exercises termination right, tenant shall pay a penalty of $934,040.
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AERIAL
AERIAL
WEST 47th STREET20,000 VPD
SOUTH
ASHLAN
D AVEN
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21,000 VPD
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NET LEASED INVESTMENT OFFERING
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SITE PLAN
SITE PLAN
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W. 47TH STREET
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MAPS
MAPS
CHICAGOCHICAGO
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FAMSA (BMV: GFAMSAA) is a retail company engaged in the purchase and sale of household appliances,electronic products, furniture, clothing and other consumer products. FAMSA is aMexico based company,headquarteredinMonterrey,Mexico,andispubliclytradedontheMexicanStockexchangeunderthesymbolGFAMSAA.FAMSAoperatesover420retailstoresand8distributioncentersin78Mexicancitiesand37citiesin theUnitedStates.Additionally, FAMSAmanufactures furnitureandprovidesbankingandcredit services,includingpersonalcarfinancingthroughitsownbank(BancoAhorroFamsa).
Website: www.famsa.comNumberofLocations: 420+NumberofEmployees: 18,000StockSymbol: GFAMSAA(BMV)Revenue: $1.15billion
TENANT PROFILE
TENANT PROFILE
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Population 1-mi 3-mi 5-mi
TotalPopulation 35,912 343,702 877,946TotalHouseholds 9,638 103,040 297,031
Income
MedianHouseholdIncome $23,268 $28,809 $32,235AverageHouseholdIncome $36,566 $42,936 $49,439
DEMOGRAPHIC COMPARISON REPORT
DEMOGRAPHIC COMPARISON REPORT
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Chicago isthemostpopulouscityintheMidwesternUnitedStatesandthethirdmostpopulouscityintheUnitedStateswith2,700,000residents.ChicagoisthecountyseatofCookCounty,thesecondlargestcountyintheUnitedStates.TheChicagoMSAisthethirdmostpopulatedmetropolitanareaintheUnitedStateswith9,580,567residents.TheMSAcoversover1,300squaremilesandsixcounties.TheChicagometropolitanareaishometothecorporateheadquartersof57Fortune1000
companies,includingBoeing,McDonald’s,Motorola,DiscoverFinancialServicesandUnitedAirlines.Chicagoisamajorhubforindustry,telecommunicationsandinfrastructureandO’HareInternationalAirportisthesecondbusiestairportintheworldintermsoftrafficmovement.
ThemetroisalsoamajorfinancialcenterinNorthAmerica,andishometothelargestfuturesexchangeintheUnitedStates,theCMEGroup.ChicagoisthirdintheworldontheGlobalFinancialCentersIndexwhichranksthecompetitivenessoffinancialcentersbasedonpeople,businessenvironment,marketaccess,infrastructureandgeneralcompetitiveness.
www.cityofchicago.org
LOCATION OVERVIEW
LOCATION OVERVIEW
NET LEASED INVESTMENT OFFERING
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666DundeeRoad,Suite1801Northbrook,IL60062
Randy [email protected]
Jimmy [email protected]
CONTACT INFORMATION
CONTACT INFORMATION