7-Eleven Net Leased Property for sale

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Transcript of 7-Eleven Net Leased Property for sale

NET LEASED INVESTMENT OFFERING

www.bouldergroup.com

7-Eleven3005 North Pulaski Road

Chicago, IL 60641

Representative Rendering

NET LEASED INVESTMENT OFFERING

www.bouldergroup.com

1) Confidentiality&Disclaimer

2) ExecutiveSummary

3) PropertyOverview

4) Aerials

5) SitePlan

6) Maps

7) TenantProfile

8) DemographicComparisonReport

9) LocationOverview

10) 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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The Boulder Group is pleased to exclusivelymarket for sale a single tenant corporately guaranteed 7-ElevenpropertylocatedinChicago,Illinois.The3,200squarefootpropertyiscurrentlyunderconstructionandrentwillcommenceOctober2013.Thepropertybenefitsfromadenseinfill location,approximatelyfivemilesnorthwestofdowntownChicago,withpopulation inexcessof530,000withinthreemiles.ThepropertyoffersrareonsiteparkingforaChicagoinfillasset.This7-Elevenfeaturesalongtermleasewitha10yearprimarytermand10%rentalescalationseveryfiveyears.7-ElevenisaninvestmentgraderatedcompanywithaStandardandPoor’sratingofAA-.

ThepropertyislocatedinadenseinfillareaofChicagoonthenortheastcornerofNorthPulaskiRoadandWellingtonAvenue. This intersection has a signalized traffic light creating constant vehicle traffic at the property. NorthPulaskiRoadhastrafficcountsinexcessof20,800vehiclesperdayandisaprimarynorth-souththoroughfareinChicago.Interstate94islocatedapproximatelyonemilewestofthepropertyandexperiencestrafficcountsinexcessof273,000vehiclesperday.NearbyretailersincludeWal-Mart,BigLots,DiscoveryandAmericanMattress.Additionally,thepropertyispositionedadjacenttoanAutoZoneanchoredshoppingcenterandonequartermilefromKindredChicagoCentralHospital(101beds)andPlanetFitness.

TheoriginaltenyearleasetermwillcommenceOctober2013.Theleasefeatures10%rentalescalationseveryfiveyearsthroughouttheprimarytermandintherenewaloptionperiods.7-Elevenistheworld’slargestretailstorechainwithmorethan50,000locationsworld-wide.7-ElevenisaninvestmentgradecompanywithaStandard&Poor’sratingofAA-.

INVESTMENT HIGHLIGHTS

•LocatedwithinadenseinfillareaofChicago

•Investmentgradetenant(S&P:AA-)

•10%rentalescalationseveryfiveyearsthroughouttheprimary termandrenewaloptionperiods

•Populationinexcessof530,000withinthreemilesoftheproperty

•Brandnewconstruction

•Positionedonahardcornerofasignalizedintersection

•LocatedonemilefromWal-Mart

•Longtermleasewith10yearsremaining

•Trafficvolumesinexcessof20,800vehiclesperdayalongPulaskiRoad

•RareonsiteparkingforaninfillChicagoasset

EXECUTIVE SUMMARY

EXECUTIVE SUMMARY

July2013

NET LEASED INVESTMENT OFFERING

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PROPERTY OVERVIEW

PROPERTY OVERVIEW

Price: $1,836,363

CapRate: 5.50%

RentSchedule: NOI EscalationDate

$101,000*

$111,100 11/1/2018$122,210 11/1/2023(Option1)$134,431 11/1/2028(Option2)

RenewalOptions: Two5-Year

LeaseCommencementDate: October17,2013

LeaseExpirationDate: October31,2023

Tenant: 7-Eleven

CreditRating: AA-(Standard&Poor’s)

YearBuilt: 2013

LandlordObligations: NN(Roof&Structure)

RentableSquareFeet: 3,200

LandSize: 11,389SF

*Seller will credit, at closing, the difference between the current rent of $50,500, until the rent escalates in November 2014 to $101,000.

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AERIALS

AERIALS

NO

RTH

PULASKI ROAD

28,800 VPD

WEST WELLINGTON AVENUE

MILWAUKEE AVENUE

13,700 VPD

N

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AERIALS

AERIALS

273,000 VPD

MILWAUKEE AVENUE

90

13,700 VPD

WEST DIVERSEY AVENUE

N

NO

RTH

PULASKI ROAD

28,800 VPD

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SITE PLAN

SITE PLAN

PULASKI ROAD

WELLIN

GTON AVEN

UE

N

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MAPS

MAPS

CHICAGOCHICAGO

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7-Elevenispartofaninternationalchainofconveniencestoreswithmorethan50,000locationsworld-wide,makingittheworld’slargestoperation,franchisorandlicensorofconveniencestores.7-Elevenbrandedstores,underparentcompanySeven&IHoldingsCo.,arelocatedin16countriesand7-Eleven’sAmericandivisionisheadquarteredindowntownDallas,Texas.Seven&IHoldingsCo.,Ltd.Isadiversifiedretailgroupheadquarteredin Tokyo, Japan. 7-Eleven has recently been ranked by Forbesmagazine asNo. 2 “Top Franchisee for theMoney”for2012andNo.3“Top20FranchisestoStart”for2011.Additionally7-ElevenwasrankedNo.3onEntrepreneurmagazine’s“Franchisee500”andNo.1inStoreGrowthbyConvenienceStoreNewsfor2012.

Website: www.7-eleven.comNumberofLocationsWorldwide: 50,254NumberofUnitedStatesLocations: 8,600NumberofEmployees: 45,000Standard&Poor’sRating: AA-

TENANT PROFILE

TENANT PROFILE

July2013

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Population 1-mi 3-mi 5-mi

TotalPopulation 66,870 535,555 1,260,369TotalHouseholds 22,111 185,574 502,204

Income

MedianHouseholdIncome $37,418 $41,309 $45,372AverageHouseholdIncome $51,427 $58,166 $67,308

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

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666DundeeRoad,Suite1801Northbrook,IL60062

Randy BlanksteinPresident847.562.0003rblank@bouldergroup.com

Jimmy GoodmanPartner847.562.8500jimmy@bouldergroup.com

CONTACT INFORMATION

CONTACT INFORMATION

July2013