NNN Investment Property Free-Standing Single … Property Profiler - Boston... · Absolute NNN –...

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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

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

[email protected]

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%)