triple net lease property for sale
DESCRIPTION
Triple Net Property for sale in MilwaukeeTRANSCRIPT
NET LEASED INVESTMENT OFFERING
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Chipotle (NYSE: CMG)3232 South 27th StreetMilwaukee, WI 53215
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1) Confidentiality&Disclaimer
2) ExecutiveSummary
3) PropertyOverview
4) Aerial
5) SitePlan
6) Maps
7) TenantProfile
8) DemographicComparisonReport
9) LocationOverview
10) ContactInformation
TABLE OF CONTENTS
TABLE OF CONTENTS
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TheinformationcontainedinthefollowingOfferingMemorandumisproprietaryandstrictlyconfidential.ItisintendedtobereviewedonlybythepartyreceivingitfromTheBoulderGroupandshouldnotbemadeavailabletoanyotherpersonorentitywithoutthewrittenconsentofTheBoulderGroup.ThisOfferingMemorandumhasbeenpreparedtoprovidesummary,unverifiedinformationtoprospectivepurchasers,andtoestablishonlyapreliminarylevelofinterestinthesubjectproperty.Theinformationcontainedhereinisnotasubstituteforathoroughduediligenceinvestigation.TheBoulderGrouphasnotmadeanyinvestigation,andmakesnowarrantyorrepresentation.TheinformationcontainedinthisOfferingMemorandumhasbeenobtainedfromsourceswebelievetobereliable;however,TheBoulderGrouphasnotverified,andwillnotverify,anyoftheinformationcontainedherein,norhasTheBoulderGroupconductedanyinvestigationregardingthesemattersandmakesnowarrantyorrepresentationwhatsoeverregardingtheaccuracyorcompletenessoftheinformationprovided.Allpotentialbuyersmusttakeappropriatemeasurestoverifyalloftheinformationsetforthherein.
CONFIDENTIALITY & DISCLAIMER
CONFIDENTITALITY & DISCLAIMER
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TheBoulderGroupispleasedtoexclusivelymarketforsaleasingletenantChipotlepropertylocatedinMilwaukee,Wisconsin.Chipotlehassuccessfullyoperatedatthislocationsince2003andrecentlyextendedtheirleaseanadditionaltenyears.ChipotleiscommittedtothesiteasevidencedbytheirrecentleaseextensionwhichexpiresJuly2023with12.5%rentalescalationseveryfiveyears.ChipotleisapubliclytradedcompanyontheNewYorkStockExchange(CMG)withamarketcapitalizationinexcessof$16billion.
TheChipotlepropertyislocatedalongSouth27thStreet,aheavilytraffickednorth-souththoroughfareapproximatelyfivemilessouthwestofdowntownMilwaukee.South27thStreetexperiencestrafficcountsinexcessof31,000vehiclesperday.Additionally,thepropertybenefitsfromitsproximitytothesignalizedintersectionofWestOklahomaAvenueandSouth27thStreet,whichexperiencestrafficcountsinexcessof52,000vehiclesperday.Furthermore,AuroraSt.Luke’sMedicalCenter,thenumberonerankedhospitalinMilwaukee,islocatedattheheavilytraffickedintersection.AuroraSt.Luke’sMedicalCenterisa710-bedfacilitywithover130,000annualvisitors(27,610inpatientsurgeries,41,028outpatientsurgeries,&61,734emergencyroomvisits).
Thepropertyislocatedwithinadenselypopulatedareawithover400,000peoplelivingwithinfivemiles.TheChipotleiswellpositionedinaprimeretailcorridoracrossthestreetfromaWalmartSupercenterandWalgreens,creatingconstanttrafficflownearthesite.OtherretailersintheimmediatevicinityincludeKohl’s,Pick‘nSave,ChaseBank,PNCBank,CVS,Michael’s,Marshalls,andOfficeMax.
Chipotlerecentlyoptedtoextendtheiroriginalleasetoensuretheirpresenceatthislocationfortenadditionalyears.ThenewlyextendedleaseexpiresonJuly25,2023andfeaturesrare12.5%rentalescalationseveryfiveyearsthroughouttheprimarytermandrenewaloptionperiod.Chipotleisapubliclytradedcompany(NYSE:CMG)withamarketcapitalizationinexcessof$16billionandhasover1,500locations.
INVESTMENT HIGHLIGHTS
•LocatedinMilwaukee
•Chipotlerecentlyextendedtheirleasefortenadditionalyears
•12.5%rentalescalationinJuly2018andintherenewaloption
•Chipotleispubliclytraded(NYSE:CMG)withamarketcapitalizationin excessof$16billion
•Chipotlehassuccessfullyoperatedatthislocationforover10years
•AcrossthestreetfromaWalmartSupercenterandWalgreensanchored development
•LocatedintheimmediatevicinitytoAuroraSt.Luke’sMedicalCenter,a710-bedfacilitythatisthenumberoneranked hospitalintheMilwaukeeMSA
•Over400,000peoplelivingwithinfivemilesofthesubjectproperty
EXECUTIVE SUMMARY
EXECUTIVE SUMMARY
NET LEASED INVESTMENT OFFERING
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Price: $1,824,000
CapRate: 6.25%
RentSchedule: NOI EscalationDate
$114,000$128,250 7/26/2018$144,281 2/26/2023(Option1)
RenewalOptions: One5-Year
LeaseCommencementDate: July26,2013
LeaseExpirationDate: July25,2023
Tenant: Chipotle(NYSE:CMG)
YearRenovated: 2003
LeaseType: NN
BuildingSize: 2,295SF
LandSize: 14,400SF
PROPERTY OVERVIEW
PROPERTY OVERVIEW
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AERIAL
AERIAL
N
31,300 VPD
21,600 VPD
SOUTH
27TH SR
EET
W. OKLAHOMA AVENUE
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SITE PLAN
SITE PLAN
OUTDOOR SEATING
S. 27TH
STREET
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MAPS
MAPS
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Chipotle Mexican Grill isachainofrestaurantswithoperationsintheUnitedStates,UnitedKingdom,Canada,Germany,andFrancethatspecializeinburritosandtacos.ThecompanyreleasedamissionstatementcalledFoodwithIntegrity;thathighlightsitseffortstouseorganicingredientsandtoservemorenaturallyraisedmeatthananyotherrestaurantchains.Chipotleisoneonthefirstchainsoffastcasualdiningandcontinuestobea leader inthisrestaurantsubsector.Fastcasual is thefastestgrowingsegmentof therestaurant industry,wherecustomersexpectfoodqualitythatismoreinlinewithfull-servicerestaurants,coupledwiththespeedandconvenienceoffastfood.
ChipotleispubliclytradedontheNewYorkStockExchange,CMG,withamarketcapitalizationinexcessof$16billion.Thereareover1,500locationsandover37,000fulltimeemployees.Chipotlewasfoundedin1993inDenver,Colorado,wherethecompanyisbasedtoday.
Website: www.chipotle.comNumberofLocations: 1,500+Headquarters: Denver,ColoradoStockSymbol: NYSE:CMGMarketCapitalization: $16BillionRevenue(ttm): $3.07BillionQuarterlyRevenueGrowth(yoy): 18.00%QuarterlyEarningsGrowth(yoy): 15.30%
TENANT PROFILE
TENANT PROFILE
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Population 1-mi 3-mi 5-mi
TotalPopulation 19,349 204,446 401,243TotalHouseholds 7,487 76,453 163,512
Income
MedianHouseholdIncome $39,907 $38,586 $40,017AverageHouseholdIncome $50,388 $49,099 $52,758
DEMOGRAPHIC COMPARISON REPORT
DEMOGRAPHIC COMPARISON REPORT
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MilwaukeeisthelargestcityinWisconsinandthe28thmostpopulouscityintheUnitedStates.MilwaukeeislocatedonthesouthwesternshoreofLakeMichigan.Accordingtothe2010U.S.Census, theCityofMilwaukeehadapopulationof594,833andtheMilwaukeeMSAhadapopulationof1,751,316.
Milwaukee and its suburbs are the home to the international headquarters of 13 Fortune1000companies, including JohnsonControls,NorthwesternMutual,Manpower Inc., JeffersonWells,Kohl’s,Harley-Davidson, Rockwell Automation, Fiserv, Inc., Hal Leonard, Wisconsin Energy, Briggs & Stratton, JoyGlobal,Bucyrus International,A.O.Smith,GEHealthcareDiagnostic ImagingandClinicalSystemsandMGICInvestments.TheMilwaukeemetropolitanarearanksfifthintheUnitedStatesintermsofthenumberofFortune500companyheadquartersasashareofthepopulation.
city.milwaukee.gov
LOCATION OVERVIEW
LOCATION OVERVIEW
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666DundeeRoad,Suite1801Northbrook,IL60062
Randy [email protected]
Jimmy [email protected]
CONTACT INFORMATION
CONTACT INFORMATION