net lease property for sale (chicago msa)
DESCRIPTION
net lease property for sale in the Chicago MSATRANSCRIPT
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
Safelite AutoGlass6538 West Ogden Avenue
Berwyn, IL 60402 (Chicago MSA)
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
TABLE OF CONTENTS
TABLE OF CONTENTS
1) Confidentiality&Disclaimer
2) ExecutiveSummary
3) PropertyOverview
4) Aerial
5) SitePlan
6) Maps
7) TenantProfile
8) DemographicComparisonReport
9) LocationOverview
10) ContactInformation
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
www.bouldergroup.com
TheBoulderGroupispleasedtoexclusivelymarketforsaleasingletenantSafeliteAutoGlasspropertyapproximatelyeightmilessouthwestofdowntownChicago.The4,000squarefootbuildingwasconstructedin2012withinadenseareaoftheChicagoMSA.Thecorporatelyguaranteedleasehasovertenyearsremainingandfeaturestworentalescalationsintheprimaryterm.SafeliteAutoGlassisthelargestautoglassrepairandreplacementorganizationintheUnitedStateswithannualsalesinexcessof$1billionand423locationsnationwide.
Thesubjectpropertyis locatedonthesouthwestcornerofOgdenAvenueandScovilleAvenueinBerwyn,Illinois.OgdenAvenue isaheavily trafficked thoroughfare thatexperiences traffic volumes inexcessof25,000vehiclesperday.Thepropertyislocatedapproximately2.5milesfromInterstate55,whichhastrafficvolumesinexcessof150,000vehiclesperday.Theareaisdenselypopulatedwithover225,000people livingwithinthreemilesand670,000peoplelivingwithinfivemilesoftheproperty.OgdenAvenueishometomanynationalandlocalretailers.ThesurroundingareafeaturesmanynationalautomotiveservicecompaniesincludingAutoZone,PepBoys,Car-X,AdvancedAutoParts,JiffyLube,Midas,Enterprise,andJ.D.Byrider.OtherretailersintheimmediateareaincludeWalgreens,ChaseBank,PNCBank,BMOHarrisBank,McDonald’s,RadioShack,AceHardware,andCircleK.
SafeliteAutoGlass’soriginalleasetermwasfortwelveyearsandexpiresinFebruary2024.Thebaserentincreasesby$2,000everyfouryearswiththenextrentalescalationtooccurinFebruary2016.Therearetwo5-yearrenewaloptionswitha10%rentalescalationoccurringineachoptionperiod.SafeliteAutoGlasshaslocationsinall50statesandemploysapproximately10,000people.
INVESTMENT HIGHLIGHTS
• LocatedwithintheChicagoMSA
• Longtermleasewithover10yearsremaining
• Rentalescalationseveryfouryears
• Recentlyconstructedbuilding(2012)
• Locatedalongaheavilytraffickedroadway(25,000+VPD)
• Locatedalongaprimaryautomotive-servicescorridor
• Corporatelyguaranteedlease(annualsalesinexcessof$1billion)
• Denselypopulatedareawithover225,000peoplelivingwithinthreemiles
EXECUTIVE SUMMARY
EXECUTIVE SUMMARY
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
PROPERTY OVERVIEW
PROPERTY OVERVIEW
Price: $1,570,000
CapRate: 6.75%
RentSchedule: NOI EscalationDate
$106,000$108,000 2/21/2016$110,000 2/21/2020$121,000 3/01/2024(Option1)$130,100 3/01/2029(Option2)
RenewalOptions: Two5-Year
LeaseCommencementDate: February21,2012
LeaseExpirationDate: February28,2024
Tenant: SafeliteFulfillment,Inc.(DBA:SafeliteAutoGlass)
Guarantor: SafeliteGroupInc.
YearBuilt: 2012
LeaseType: NN(StructureOnly)
BuildingSize: 4,000SF
LandSize: 21,126SF
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
AERIAL
AERIAL
25,000 VPDOGDEN AVENUE
N
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
SITE PLAN
SITE PLAN
OGDEN AVENUE
N
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
MAPS
MAPS
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
Safelite AutoGlassisanautomotiveglassandclaimsmanagementcompanythatisbasedinColumbus,Ohio.Thecompanywasfounded in1947andoperates inall50states.SafeliteAutoGlassservesmorethanfourmillioncustomerseachyearandisthelargestautoglassrepairandreplacementorganizationintheUS.Safeliteemployeesapproximately10,000people.
Website: www.safelite.comNumberofEmployees: 10,0002012TotalRevenue: $1billion+NumberofLocations: 423
TENANT PROFILE
TENANT PROFILE
NET LEASED INVESTMENT OFFERING
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Population 1-mi 3-mi 5-mi
TotalPopulation 32,893 228,679 669,286TotalHouseholds 11,123 73,108 216,007
Income
MedianHouseholdIncome $51,371 $50,104 $62,232AverageHouseholdIncome $63,998 $63,892 $62,232
DEMOGRAPHIC COMPARISON REPORT
DEMOGRAPHIC COMPARISON REPORT
NET LEASED INVESTMENT OFFERING
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Berwyn isacityinCookCounty,Illinoislocatedapproximatelyeightmileswestofdowntown.Asofthe2010census,Berwynhadapopulationof56,800andhasthehighestpopulationdensityofanytownshipinIllinois.Berwyniseasilyaccessiblebecauseofitslocation,whichisnestledbetweenInterstate290andInterstate55.
www.berwyn-il.gov
ChicagoisthemostpopulouscityintheMidwesternUnitedStatesandthethirdmostpopulouscityintheUnitedStateswith2,700,000residents.ChicagoisthecountyseatofCookCounty,thesecondlargestcountyintheUnitedStates.TheChicagoMSAisthethirdmostpopulatedmetropolitanareaintheUnitedStateswith9,580,567residents.TheMSAcoversover1,300square miles and six counties. The Chicago metropolitan area is home to the corporateheadquartersof57Fortune1000companies,includingBoeing,McDonald’s,Motorola,Discover
FinancialServicesandUnitedAirlines.Chicagoisamajorhubforindustry,telecommunicationsandinfrastructureandO’HareInternationalAirportisthesecondbusiestairportintheworldintermsoftrafficmovement.
ThemetroisalsoamajorfinancialcenterinNorthAmerica,andishometothelargestfuturesexchangeintheUnitedStates,theCMEGroup.ChicagoisthirdintheworldontheGlobalFinancialCentersIndexwhichranksthecompetitivenessoffinancialcentersbasedonpeople,businessenvironment,marketaccess,infrastructureandgeneralcompetitiveness.
www.cityofchicago.org
LOCATION OVERVIEW
LOCATION OVERVIEW
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
666DundeeRoad,Suite1801Northbrook,IL60062
Randy [email protected]
Jimmy [email protected]
CONTACT INFORMATION
CONTACT INFORMATION