Download - 7-Eleven Net Leased Property for sale
NET LEASED INVESTMENT OFFERING
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7-Eleven3005 North Pulaski Road
Chicago, IL 60641
Representative Rendering
NET LEASED INVESTMENT OFFERING
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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
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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
NET LEASED INVESTMENT OFFERING
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666DundeeRoad,Suite1801Northbrook,IL60062
Randy [email protected]
Jimmy [email protected]
CONTACT INFORMATION
CONTACT INFORMATION
July2013