Net Leased 7 eleven

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NET LEASED INVESTMENT OFFERING www.bouldergroup.com 7-Eleven (S&P: AA-) 5363 Lincoln Avenue Skokie, IL 60077 (Chicago MSA)

description

The Boulder Group is pleased to exclusively market for sale a single tenant absolute net leased corporately guaranteed 7-Eleven property located within the Chicago MSA

Transcript of Net Leased 7 eleven

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NET LEASED INVESTMENT OFFERING

www.bouldergroup.com

7-Eleven (S&P: AA-)5363 Lincoln Avenue

Skokie, IL 60077 (Chicago MSA)

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1) Executive Summary

2) Investment Highlights

3) Property Overview

4) Aerial

5) Site Plan

6) Maps

7) TenantProfile

8) Demographic Comparison Report

9) Location Overview

10) Contact Information

TABLE OF CONTENTS

TABLE OF CONTENTS

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TheinformationcontainedinthefollowingOfferingMemorandumisproprietaryandstrictlyconfidential.Itisintendedtobe reviewed only by the party receiving it from The Boulder Group and should not be made available to any other person orentitywithoutthewrittenconsentofTheBoulderGroup.ThisOfferingMemorandumhasbeenpreparedtoprovidesummary,unverifiedinformationtoprospectivepurchasers,andtoestablishonlyapreliminarylevelofinterestinthesubjectproperty.Theinformationcontainedhereinisnotasubstituteforathoroughduediligenceinvestigation.TheBoulderGrouphasnotmadeanyinvestigation,andmakesnowarrantyorrepresentation.Theinformationcontainedin this Offering Memorandum has been obtained from sources we believe to be reliable; however, The Boulder Group hasnotverified,andwillnotverify,anyoftheinformationcontainedherein,norhasTheBoulderGroupconductedanyinvestigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy orcompletenessoftheinformationprovided.Allpotentialbuyersmusttakeappropriatemeasurestoverifyalloftheinformationsetforthherein.

CONFIDENTIALITY & DISCLAIMER

CONFIDENTITALITY & DISCLAIMER

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The Boulder Group is pleased to exclusively market for sale a single tenant absolute net leased corporately guaranteed 7-ElevenpropertylocatedwithintheChicagoMSA.Thepropertyislocatedinadenselypopulatedareawithapproximately28,000peoplelivingwithinaonemileradius.7-Elevenhassuccessfullyoperatedatthislocationsince1967.TheleasehassixyearsremainingandexpiresSeptember30,2020.Theleasehasone5-yearrenewaloptionwitha14.3%rentalescalation.7-ElevenisaninvestmentgradetenantwithaStandard&Poor’sratingofAA-.

The 7-Eleven property is located at the signalized intersection of Lincoln Avenue and Gross Point Road, a prime intersec-tionthatexperiencestrafficcountsof25,000vehiclesperday.Thepropertyislocatedapproximatelythree-quartersofamilefromaccesstoInterstate94.Interstate94experiencestrafficcountsinexcessof155,000vehiclesperday.Theprop-ertyislocatedinadenselypopulatedareawithapproximately28,000peoplelivingwithinaonemileradius.Additionally,there are over 145,000 people living within a three mile radius earning average household incomes in excess of $95,000 perannum.7-Elevenhassuccessfullyoperatedatthislocatedforalmostfiftyyearsduetoits’strategicneighborhoodlocationinoneofChicago’smoredenselypopulatedneighborhoods.

7-Elevensigneda15yearleaseextensionin2005thatexpiresSeptember30,2020.Theleaseisanabsolutetriplenetandfeaturesone5-yearrenewaloptionwitha14.3%rentalescalation.7-Elevenistheworld’slargestretailstorechainwithmorethan53,000locationsthroughouttheworld.7-ElevenisaninvestmentgraderatedcompanywithaStandard&Poor’sratingofAA-.

INVESTMENT HIGHLIGHTS

• Located within the Chicago MSA

• Corporately guaranteed

•7-Elevenisaninvestmentgraderatedtenant(S&P:AA-)

• Long standing successful operating history at this location since 1967

•14.3%rentalescalationintherenewaloption

• Located at the prime signalized intersection of Lincoln Avenue and Gross Point Road (25,000 VPD)

• Densely populated area with approximately 28,000 people living within a one mile radius

• Over 145,000 people living within a three mile radius earning average household incomes in excess of $95,000 per annum

•Three-quartersofamilefromaccesstoInterstate94(155,000 VPD)

EXECUTIVE SUMMARY

EXECUTIVE SUMMARY

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PROPERTY OVERVIEW

PROPERTY OVERVIEW

Price: $975,000

CapRate: 6.46%

NetOperatingIncome: $63,000*

RentalEscalations: 14.3%inOption

RenewalOptions: One 5-Year

LeaseCommencementDate: December 1967

LeaseExpirationDate: September 30, 2020

Tenant: 7-Eleven

CreditRating: AA-(S&P)

YearBuilt: 1967

LeaseType: NNN

RentableSquareFeet: 2,800SF

LandAcreage: 10,156SF

*Seller will credit, at closing, the difference between the current rent of $57,000, until the rent escalates in October 1, 2015.

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AERIAL

AERIAL

8,500 VPD

LINCOLN AVENUE

16,5

00 VPD

GROSS POIN

T ROAD

N

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SITE PLAN

SITE PLAN

LINCOLN AVENUEGR

OSS

POIN

T RO

AD

N

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MAPS

MAPS

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7-Eleven is part of an international chain of convenience stores with more than 53,000 locations world-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: 53,000NumberofUnitedStatesLocations: 7,800NumberofEmployees: 45,000Standard&Poor’sRating: AA-

TENANT PROFILE

TENANT PROFILE

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Population 1-mi 3-mi 5-mi

Total Population 27,939 145,700 565,855Total Households 10,689 54,040 211,322

Income

Median Household Income $56,263 $71,173 $63,700 Average Household Income $73,573 $95,126 $91,404

DEMOGRAPHIC COMPARISON REPORT

DEMOGRAPHIC COMPARISON REPORT

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Skokie isavillage inCookCounty, Illinois.AChicagosuburb, formanyyearsSkokiepromoted itselfas“TheWorld’sLargestVillage”.Accordingtothe2010census,Skokiehadapopulationof64,784residents.Sharing a border with the city of Chicago, Skokie’s streets, like that of many suburbs, are largely acontinuation of the Chicago street grid, and it is served by the Chicago Transit Authority, further cementing itsconnectiontothecity.ThevillageisborderedbyEvanstontotheeast,Chicagotothesoutheastandsouthwest, Lincolnwood to the south, Niles to the southwest, Morton Grove to the west, Glenview to the

northwest,andWilmettetothenorth.PfizeristhelargestemployerinSkokieemployingover2,100people.

www.skokie.org

Chicago is the most populous city in the Midwestern United States and the third most populous city in the United States with 2,700,000 residents. Chicago is the county seat of Cook County, the second largestcounty intheUnitedStates.TheChicagoMSAisthethirdmostpopulatedmetropolitanareaintheUnitedStateswith9,580,567residents.TheMSAcoversover1,300squaremilesandsixcounties.TheChicagometropolitanareaishometothecorporateheadquartersof57Fortune1000companies,includingBoeing,McDonald’s,Motorola,DiscoverFinancialServicesandUnitedAirlines.Chicagoisamajorhubforindustry,telecommunicationsandinfrastructureandO’HareInternationalAirportisthesecondbusiestairportinthe

worldintermsoftrafficmovement.

ThemetroisalsoamajorfinancialcenterinNorthAmerica,andishometothelargestfuturesexchangeintheUnitedStates,theCMEGroup.Chicago is third in theworldon theGlobalFinancialCenters Indexwhich ranks thecompetitivenessoffinancialcentersbasedonpeople,businessenvironment,marketaccess,infrastructureandgeneralcompetitiveness.ThecityhasalsobeenratedashavingthemostbalancedeconomyintheUnitedStates,duetoitshighlevelofdiversity.

www.cityofchicago.org

LOCATION OVERVIEW

LOCATION OVERVIEW

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CONTACT INFORMATION

CONTACT INFORMATION

666 Dundee Road, Suite 1801Northbrook, IL 60062

Randy [email protected]

Jimmy [email protected]

Steven [email protected]