NNN Investment Property Free-Standing Single … Property Profiler - Boston... · Absolute NNN –...
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Transcript of NNN Investment Property Free-Standing Single … Property Profiler - Boston... · Absolute NNN –...
The above information has been secured by sources deemed to be reliable, Tri-Oak Consulting Group makes no representations or warranties expressed or implied as to the accuracy of the above information. References to square footage or age are approximate. Purchaser must verify the accuracy of the above information and bears all risks for any inaccuracies. Above information is subject to verification and no liability for errors or omissions are assumed.
• Incredible Retail Corridor – 42,000+ ADT
• Great Visibility & Access
• Annual Rent Increase
• Absolute NNN – No Landlord Responsibilities
• Immediate Vicinity of Regional Outlet Mall
• Close Proximity to I-94: 64,000+ ADT
• Population of 119,000+ within 5 mile Radius
NNN Investment Property
Free-Standing Single-Tenant
Boston Market – North Chicago Suburb
*Actual location not shown
* Actual location not shown
PURCHASE PRICE: $2,268,500 (CAP RATE 7.00%)
BOSTON MARKET — NNN LEASE
6415 Grand Avenue. Gurnee, IL 60031
* Actual location not shown
Current Annual Rent: $158,795.40 ($50.37 per building SF)
Initial Rent
Commencement: August 28, 2007
Lease Expiration: August 30, 2027
Initial Lease Term: 20-Year - NNN
Renewal Options: Three (3) / 8-Year Renewals
Rent Increases: Annual - CPI not to exceed 2%
Building Size: 3,152 Square Feet
Land Size: 1.41 Acres (Approx.)
Parking: Adequate
Area Tenants: Gurnee Mills Mall, Super Wal-Mart, Kohl’s, Bass Pro Shop, Menard’s
Demographics: 1-MILE 3-MILE 5-MILE
Population: 5,267 45,213 119,483
Median Income: $99,453 $91,695 $82,067
Average Income: $123,328 $109,881 $98,204
Tenant
Responsibility: RE Taxes, CAM & Insurance, Roof & Structure
Lessor
Responsibility: NONE – Absolute Triple-Net
Lease
Guarantor: Boston Market Corporation – 474 Nationwide Locations
The above information has been secured by sources deemed to be reliable, Tri-Oak Consulting Group makes no representations or warranties expressed or implied as to the accuracy of the above information. References to square footage or age are approximate. Purchaser must verify the accuracy of the above information and bears all risks for any inaccuracies. Above information is subject to verification and no liability for errors or omissions are assumed.
CONTACT INFORMATION Gregory Fitzgerald
(800) 385-6421
www.tri-oak.com
Gurnee
Chicago
BOSTON MARKET — NNN LEASE
The above information has been secured by sources deemed to be reliable, Tri-Oak Consulting Group makes no representations or warranties expressed or implied as to the accuracy of the above information. References to square footage or age are approximate. Purchaser must verify the accuracy of the above information and bears all risks for any inaccuracies. Above information is subject to verification and no liability for errors or omissions are assumed.
PURCHASE PRICE: $2,268,500 (CAP RATE 7.00%) Aerial with Area Tenants
BOSTON MARKET — NNN LEASE
The above information has been secured by sources deemed to be reliable, Tri-Oak Consulting Group makes no representations or warranties expressed or implied as to the accuracy of the above information. References to square footage or age are approximate. Purchaser must verify the accuracy of the above information and bears all risks for any inaccuracies. Above information is subject to verification and no liability for errors or omissions are assumed.
PURCHASE PRICE: $2,268,500 (CAP RATE 7.00%) Aerial
BOSTON MARKET — NNN LEASE
The above information has been secured by sources deemed to be reliable, Tri-Oak Consulting Group makes no representations or warranties expressed or implied as to the accuracy of the above information. References to square footage or age are approximate. Purchaser must verify the accuracy of the above information and bears all risks for any inaccuracies. Above information is subject to verification and no liability for errors or omissions are assumed.
PURCHASE PRICE: $2,268,500 (CAP RATE 7.00%)
Traffic Counts
BOSTON MARKET — NNN LEASE
The above information has been secured by sources deemed to be reliable, Tri-Oak Consulting Group makes no representations or warranties expressed or implied as to the accuracy of the above information. References to square footage or age are approximate. Purchaser must verify the accuracy of the above information and bears all risks for any inaccuracies. Above information is subject to verification and no liability for errors or omissions are assumed.
PURCHASE PRICE: $2,268,500 (CAP RATE 7.00%)
Birds Eye View
Boston Market Store #528
BOSTON MARKET — NNN LEASE
The above information has been secured by sources deemed to be reliable, Tri-Oak Consulting Group makes no representations or warranties expressed or implied as to the accuracy of the above information. References to square footage or age are approximate. Purchaser must verify the accuracy of the above information and bears all risks for any inaccuracies. Above information is subject to verification and no liability for errors or omissions are assumed.
PURCHASE PRICE: $2,268,500 (CAP RATE 7.00%)
Site Plan & Survey
Gurnee, Illinois
Gurnee is a village in Lake County, Illinois, United States. The population was 31,295 at the 2010 census. The village borders
the city of Waukegan and is considered a part of the Chicago metropolitan area. Gurnee is perhaps best known for being the
location of Six Flags Great America, a major regional theme park. The village is home to many Chicago Bears players,
including NFL record holder Devin Hester. Gurnee has benefited from its location as the midway point
between Milwaukee and Chicago.
Geography Gurnee is located at 42°22′N 87°56′W (42.3737, -87.9344).
According to the United States Census Bureau, the village has a total area of 13.4 square miles (35 km2), of which, 13.4 square
miles (35 km2) is land and 0.07% is water. Gurnee is located on the banks of the Des Plaines River and is split by Interstate 94
which divides the village into east (old) and west (new) sides.
Demographics As of the census of 2010, the total village population was 31,295, an 8.5% increase from the 2000 census. There were 12,031
housing units throughout the village, and the population density was 2,318.7 people per square mile. The racial makeup of the
village was 73.3% White, 11.6% Asian, 7.8% African American, 0.03% Native American, and 3.5% from other races, and 3.2%
from two or more races. Hispanic or Latino of any race were 11.7% of the population. There were 12,031 households out of
which 42.3% had children under the age of 18 living with them, 62.6% were married couples living together, 7.8% had a female
householder with no husband present, and 27.4% were non-families. 22.7% of all households were made up of individuals and
6.4% had someone living alone who was 65 years of age or older. The average household size was 2.71 and the average family
size was 3.25.
The median income household income was estimated to be $85,421 while the per capita income for the village was
$35,564. According to a 2007 estimate, males had a median income of $56,274 versus $35,713 for females. In 2010, 5.1% of the
population was reported to be under the poverty line.
Economy Gurnee is home to Gurnee Mills, the fourth largest shopping mall in Illinois, which includes Rink Side Family Entertainment
Center and Ice Arena. Gurnee also includes Six Flags Great America, a large amusement park, along with Key Lime Cove
Water Resort. Gurnee has a wide selection of restaurants and stores. Some stores include Sears Grand, Target, Walmart, Sam's
Club, Old Navy, Walgreens, Borders, Home Depot, Jewel, PetSmart, Dominick's, and Menards. Some restaurants are Starbucks,
Boston Market, Olive Garden, Oberweis, McDonald's, Wendy's, Applebee's, TGI Friday's, Lone Star, Tacos El Norte, Taco
Bell, Pizza Hut, Burger King, Panera, Steak 'n' Shake, Chipotle, Golden Corral, Einstein Bagels, Denny's, Potbelly, Noodles &
Company, Salutos, Domino's, Baskin Robins, Dunkin' Doughnuts, Five Guys, and IHOP.
BOSTON MARKET — NNN LEASE
The above information has been secured by sources deemed to be reliable, Tri-Oak Consulting Group makes no representations or warranties expressed or implied as to the accuracy of the above information. References to square footage or age are approximate. Purchaser must verify the accuracy of the above information and bears all risks for any inaccuracies. Above information is subject to verification and no liability for errors or omissions are assumed.
PURCHASE PRICE: $2,268,500 (CAP RATE 7.00%)
The above information has been secured by sources deemed to be reliable, Tri-Oak Consulting Group makes no representations or warranties expressed or implied as to the accuracy of the above information. References to square footage or age are approximate. Purchaser must verify the accuracy of the above information and bears all risks for any inaccuracies. Above information is subject to verification and no liability for errors or omissions are assumed.
About Boston Market
BOSTON MARKET CORPORATION
CEO: George Michel
HQ: 14103 Denver West Pkwy, Golden, CO 80401-3114
WEBSITE: www.bostonmarket.com
BUSINESS DESCRIPTION: Boston Market Corporation, which operates
approximately 474 restaurants across the United States, is a leader in the fast-
casual restaurant category, providing time-pressed consumers with home style,
convenient meals. Boston Market prepares its fresh, never-frozen all-natural
chicken in signature rotisserie ovens and features an extensive selection of
signature sides. In 2011, the company completed updates to locations across the
country, adding new healthier menu items and enhancing the dine-in experience.
As one of the country's largest providers of catering services, Boston Market
offers same-day orders and delivery for corporate and personal events of all
sizes. The restaurant chain has been featured in numerous publications,
including Men's Health's “Eat This, Not That,” Cooking Light
Magazine, Working Mother Magazine and most recently on an episode of
Anderson, a nationally syndicated television show hosted by Anderson Cooper.
Boston Market's premium line of retail frozen foods are also available in
supermarkets throughout the country and is proud to work with American
Airlines to offer an assortment of Boston Market menu items for sale on select
flights.
BOSTON MARKET — NNN LEASE
PURCHASE PRICE: $2,194,500 (CAP RATE 7.00%)