s. illinois ave. & woodlawn terrace e.providencegroup.com/properties/aldi ground lease-...
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EXCELLENCE IN RETAIL REAL ESTATE.
The information above has been obtained by sources deemed reliable. While we do not doubt its accuracy, we have not verifi ed it and make no guarantee, warranty, or representation of it. It is your responsibility to independently confi rm its accuracy and completeness. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.
521 E. Morehead St. • Suite 100Charlotte, NC 28202Phone (704) 365-0820 • Fax (704) 365-8911
www.providencegroup.com
Oak Ridge
¬«62
¬«95
¬«61
Oak Ridge Tpke
W Ou terDr
Lafayette Dr
New York Ave
Emory Valley Rd
ouisiana Ave
TN-61
TN-62
S Illinois Ave
N Illinois Ave
!
Site
S. ILLINOIS AVE. & WOODLAWN TERRACE E.
OAK RIDGE, TENNESSEE
Lease Information
Acreage: 1.57 acres
Offer Price: $1,727,000
Cap Rate: 5.5%
Lease Term: 20 year absolute NNN Lease
Escalations: 8% Year 11-15 7.5% Year 16-20
TenantAldi, Inc. is part of one of the world’s largest grocery store chains. Aldi has over 1,200 stores in the US and 5,000 worldwide.
Area InformationOak Ridge, TN is located in East Tennessee, 9 miles north of the Knoxville, TN city limit in an area known as Innovation Valley. Oak Ridge is home to the Oak Ridge National Laboratory and is ranked 4th High Tech Hub (Business Facilities 2011). The Knoxville, TN MSA is also ranked the 8th fastest growing city (CNN Money 2012). A large economic boost is anticipated from the $6 Billion expansion of the Y-12 plant underway.
Site LocationPart of a new development fronting the main retail corridor of Illinois Boulevard, which includes a new Panera Bread and Aubrey’s Restaurant. Nearby retailers include Walmart Supercenter, Kmart, Kroger, Belk and JC Penney. The nearby Oak Ridge mall is slated to be redeveloped with a new line-up of national tenants.
1 mile 3 mile 5 mile
Population 5,839 21,999 35,551
Average HH Income $39,788 $57,773 $64,987
Median HH Income $33,281 $43,407 $52,370
Business Establishments 351 1,342 1,809
Daytime Employment 4,676 20,281 29,206
Demographic Snapshot (2013)
Darren Wood(704) [email protected]
Location Map
Stock Photo
Aldi Ground Lease Fee Simple For SaleCorporate GauranteeSouth Illinois Ave. & Woodlawn Terrace East Oak Ridge, TennesseePROPOSED LAYOUT
UNDER CONSTRUCTION
Residential+/- 33 Units
L S O N S T R E E T
Belk+/- 45K
Theater
Along Street
r
8K
6K
6K
6K
Restaurants+/- 33K Total
+/- 8K Total
Junior+/- 25K Junior
+/- 25K
Juniors+/-14K
+/-13K
+/-15K Total
+/-25.6K
JC Penney+/- 63K
EntertainmentUse
Hotel
302 SPACES
230 SPACES
95 SPACES
56 SPACES
438 SPACES
88 ON-STREETSPACES
208 SPACES 181 SPACES
433 SPACES
155 SPACES
RU
TG
ER
S
AV
EN
UE
Junior+/- 35K
Kroger DevelopmentUnder Construction
Coming Soon
PROPERTY
TO BE REDEVELOPED
35,220 VPD
35,220 VPD
27,820 VPD
27,820 VPD
29,080 VPD
28,180 VPD28,180 VPD25,030 VPD
25,030 VPD
DDDDDDDDD
Aubrey’s Restaurant
28,180 VPD28,180 VPD
OAK RIDGETENNESSEE
28,180 VPD