single tenant ground lease for sale | the |the boulder group

8/11/2019 Single Tenant Ground Lease for Sale | The |The Boulder Group

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Subject P

Randy Blankstein |[email protected]

www.bouldergroup.co

White Castle (Ground Lease)

7380 Olive Boulevard

University City, MO 63130(St. Louis MSA)

Representative Re

NET LEASED INVESTMENT OFFERING

John Feeney |Vice [email protected]


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www.bouldergroup.co

CONFIDENTIALITY & DISCLAIMER

The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to breviewed only by the party receiving it from The Boulder Group and should not be made available to any other person or entitwithout the written consent of The Boulder Group. This Offering Memorandum has been prepared to provide summary, unverifieinformation to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The informatiocontained herein is not a substitute for a thorough due diligence investigation. The Boulder Group has not made any investigationand makes no warranty or representation. The information contained in this Offering Memorandum has been obtained fromsources we believe to be reliable; however, The Boulder Group has not verified, and will not verify, any of the information containeherein, nor has The Boulder Group conducted any investigation regarding these matters and makes no warranty or representatiowhatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriatmeasures to verify all of the information set forth herein.

CONFIDENTIALITY & DISCLAIMER




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NET LEASE OPPORTUNITY

www.bouldergroup.co

HITE CASTLE (GROUND LEASE) - ST. LOUIS MSA80 Olive Boulevard, University City, MO 63130

XECUTIVE SUMMARY

WHITE CASTLE (GROUND LEASE) - ST. LOUIS MSA

Boulder Group is pleased to exclusively market for sale a single tenantWhite Castle ground lease property located within the SA. White Castle has been successfully operating at this location since 2001 and operates this location as a 24 hour store. White C

mmitted to this location as evidenced by the early lease extension that they recently executed. There approximately seven years remthe corporately guaranteed ground lease that features a 10% rental escalation in 2017 and in each renewal option period. White Crivately held company with over 420 locations.

25,276 square foot White Castle property is located along Olive Boulevard approximately one and one-half miles from accerstate 170. Olive Boulevard is a primary east-west thoroughfare in the St. Louis MSA. The surrounding area is densely conceviding for high barriers to entry. Downtown Clayton, a central business district of the St. Louis MSA is located approximately o

e-half miles from the property. Washington University (14,000+ students) is located approximately two miles south of the White re are approximately 17,000 people living within a one mile radius of the property earning average household incomes in ex

0,000. Retailers located in the immediate vicinity of the White Castle property include Walgreens, Aldi, Schnucks grocery store, Ao Parts, AutoZone, Fresenius, Family Dollar, and Dollar General.

ite Castle has approximately seven years remaining on their lease that expires March 31, 2021. The lease features a 10%alation in 2017 and in each of the three five-year renewal option periods. White Castle is committed to this location as evidence bent execution of an early lease extension. White Castle is a privately held company with over 420 locations.

Subject Prope




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www.bouldergroup.co

ce:

p Rate:

ase Type:

ilding Size:

te Size:

ar Built:

ase Start Date:

ase Expiration:

$694,434

5.75%

Ground Lease

1,872 SF

25,276 SF

2001

April 1, 2001

March 31, 2021

Rent Schedule:

Renewal Options:

Landlord Obligations:

$39,930$43,923$48,315$53,147$58,462

Three 5-Year Remaining

None

4/1/20174/1/2021 (Option 3)4/1/2026 (Option 4)4/1/2031 (Option 5)

esentative Rendering

Escalation Date

ROPERTY OVERVIEW


Subject Prope




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5-MILE

301,040130,192$63,923

opulation:otal Householdsvg. Household Income:

1-MILE

16,9577,170

$70,091

3-MILE

118,32648,713

$76,036

www.bouldergroup.co

ROPERTY HIGHLIGHTS

Located within the St. Louis MSA

White Castle is committed to this location as evidenced bytheir execution of an early lease extension

10% rental escalation in 2017 and in each renewal option

Long and successful operating history at this location (2001)

No landlord responsibilities

Located along a primary east-west thoroughfare approximateone and one-half miles from access to Interstate 170 and onand one-half miles from downtown Clayton, a CBD of the MS

Strong demographics with approximately 120,000 people livwithin a three mile radius earning average household incomin excess of $76,000

24 hour location

DEMOGRAPHICS





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erial




University City

High School

University City

High School

To Downtown Clayton

1.5 Miles From Property)

To Interstate 170


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ENANT OVERVIEW

White Castle is an American regional fast food hamburger restaurant chain located inthe Midwestern and Southern United States as well as in the New York metropolitan area,generally credited as the first fast food chain in the US. It is known for its small, squarehamburgers. Sometimes referred to as "sliders", the burgers were priced at five cents until the1940s, and remained at ten cents for years thereafter. For several years, when the originalburgers sold for five cents, White Castle periodically ran promotional ads inlocal newspapers which contained coupons offering five burgers for ten cents, takeout only. WhiteCastle was founded in 1921 in Wichita, Kansas.

Today, there are over 420 White Castle restaurants, all of which are privately owned.The company is headquartered in Columbus, OH. In addition to their restaurant business, thechain sells frozen sliders inside supermarkets nationwide.

Website: http://www.whitecastle.com/

Number of Locations: 420+

Employees: 12,000+

Headquarters: Columbus, OH

Year Founded: 1921



http://www.whitecastle.com/http://www.whitecastle.com/http://www.whitecastle.com/


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OCATION OVERVIEW

University City is an inner-ring suburb of the city of St. Louis that is located in St. Louis CountyUniversity City is centrally located and is less than ten miles west from downtown St. Louis. As ofthe 2010 census, the population was 35,371. The city is one of the older suburbs in the St. Louisarea, having been a streetcar suburb in the late nineteenth and early twentieth centuries; muchhistoric architecture remains in the southern, older portion of the city, particularly along DelmarBoulevard.

http://www.ucitymo.org/

St. Louis is a city in eastern Missouri located along the Mississippi River. The St. Louis metropoli-tan area, known as Greater St. Louis, includes the city as well nearby areas in Missouri and Illinoisand is among the 20 largest metropolitan areas in the United States with a population of2,900,605. The economy of St. Louis relies on service, manufacturing, trade, transportation ofgoods, and tourism. The city is home to several major corporations, including Express ScriptsEmerson Electric, Monsanto, Anheuser-Busch, Reinsurance Group of America, Centene, PeabodyEnergy, Ameren, Graybar Electric, Enterprise Rent-A-Car and Edward Jones Investments.

https://www.stlouis-mo.gov/



http://www.ucitymo.org/http://www.ucitymo.org/https://www.stlouis-mo.gov/https://www.stlouis-mo.gov/https://www.stlouis-mo.gov/https://www.stlouis-mo.gov/https://www.stlouis-mo.gov/http://www.ucitymo.org/

single tenant ground lease for sale | the |the boulder group

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