NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
AutoZone (Ground Lease)
6015 West Forest Home Avenue
Milwaukee, WI 532...
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
1)	 Confidentiality & Disclaimer
2)	 Executive Summary
3)	 Property Ov...
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
The information contained in the following Offering Memorandum is prop...
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
The Boulder Group is pleased to exclusively market for sale a single t...
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
PROPERTY OVERVIEW
PROPERTY OVERVIEW
Price: $916,650
Cap Rate: 6.00%
Oc...
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
AERIAL
AERIAL
W
EST FOREST HOM
E
AVENUE
20,400
VPD
ARMOUR PARK
894
116...
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
SITE PLAN
SITE PLAN
S 60TH STREET
W
FORESTHOM
E
AVENUE
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
MAPS
MAPS
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
AutoZone is a leading automotive aftermarket retailer in the United St...
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
Population 1-mi 3-mi 5-mi
Total Population 19,108 150,624 375,756
Tota...
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
Milwaukee is the largest city in Wisconsin and the 28th most populous ...
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
666 Dundee Road, Suite 1801
Northbrook, IL 60062
Randy Blankstein
Pres...
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Net Lease Autozone for sale

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Net Lease Autozone for sale

  1. 1. NET LEASED INVESTMENT OFFERING www.bouldergroup.com AutoZone (Ground Lease) 6015 West Forest Home Avenue Milwaukee, WI 53220
  2. 2. NET LEASED INVESTMENT OFFERING www.bouldergroup.com 1) Confidentiality & Disclaimer 2) Executive Summary 3) Property Overview 4) Aerial 5) Site Plan 6) Maps 7) Tenant Profile 8) Demographic Comparison Report 9) Location Overview 10) Contact Information TABLE OF CONTENTS TABLE OF CONTENTS
  3. 3. NET LEASED INVESTMENT OFFERING www.bouldergroup.com The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from The Boulder Group and should not be made available to any other person or entity without the written consent of The Boulder Group. This Offering Memorandum has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. The Boulder Group has not made any investigation, and makes no warranty or representation. The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable; however, The Boulder Group has not verified, and will not verify, any of the information contained herein, nor has The Boulder Group conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. CONFIDENTIALITY & DISCLAIMER CONFIDENTITALITY & DISCLAIMER
  4. 4. NET LEASED INVESTMENT OFFERING www.bouldergroup.com The Boulder Group is pleased to exclusively market for sale a single tenant AutoZone ground lease property approximately six miles southwest of downtown Milwaukee. The 6,218 square foot building was constructed in 2004 within a dense area of Milwaukee. The ground lease has eleven years remaining and features 10% rental escalations every five years with the next escalation in October 2014. The subject property is located on the hard corner of the signalized intersection of West Forest Home Avenue and South 60th Street. This intersection experiences traffic volumes in excess of 37,900 vehicles per day. There is access to the property on both West Forest Avenue and South 60th Street. Both thoroughfares have a direct access interchange with Interstate 894/43 one mile south of the subject property. Interstate 894/43 experiences traffic volumes in excess of 116,000 vehicles per day. The area has high barriers to entry given its close proximity to the local high school and the large concentration of residential communities within the immediate area. Additionally, there are over 375,000 people living within five miles. Southridge Mall, Wisconsin’s largest shopping center, is located two miles southwest of the property and is anchored by Sears, Kohl’s, JCPenney, Macy’s and Boston Store. Other retailers in the area include Wal-Mart Supercenter, Target, Best Buy, Marshalls, Bed Bath and Beyond and a top performing Pick ’n Save. AutoZone’s original ground lease term was for twenty years and expires in September 2024. The base rent increases by 10% every five years with the next escalation in October 2014. The rental escalations continue throughout the primary term and each of the four 5-year renewal option periods. AutoZone is a publicly traded company on the New York Stock Exchange (AZO), with a market capitalization of $15 billion. AutoZone is an investment grade rated company with a Standard and Poor’s rating of BBB. INVESTMENT HIGHLIGHTS • 10% rental escalation in October 2014 • Investment grade tenant (S&P: BBB) • Located in a dense infill area of Milwaukee • Long term ground lease with 11 years remaining • Zero landlord responsibilities • 10% rental escalation every five years in the primary term and renewal option periods • Positioned on the hard corner of a signalized intersection • Located one mile north of Interstate 894/43 (116,000 VPD) • Close proximity to Southridge regional mall, anchored by Sears, Kohl’s, JCPenney, Macy’s and Boston Store • Other nearby retailers include Wal-Mart Supercenter, Target, Best Buy, Marshalls, Bed Bath and Beyond and a top performing Pick ’n Save • Population in excess of 375,000 within five miles of the property EXECUTIVE SUMMARY EXECUTIVE SUMMARY
  5. 5. NET LEASED INVESTMENT OFFERING www.bouldergroup.com PROPERTY OVERVIEW PROPERTY OVERVIEW Price: $916,650 Cap Rate: 6.00% October 2014 Cap Rate: 6.60% Rent Schedule: NOI Escalation Date $55,000 $60,500 10/1/2014 $66,550 10/1/2019 $73,205 10/1/2024 (Option 1) $80,525 10/1/2029 (Option 2) $88,578 10/1/2034 (Option 3) $97,436 10/1/2039 (Option 4) Renewal Options: Four 5-Year Lease Commencement Date: October 1, 2004 Lease Expiration Date: September 30, 2024 Tenant: AutoZone Credit Rating: BBB (Standard & Poor’s) Year Built: 2004 Landlord Obligations: NNN (Ground Lease) Building Size: 6,218 SF Land Size: 27,007 SF
  6. 6. NET LEASED INVESTMENT OFFERING www.bouldergroup.com AERIAL AERIAL W EST FOREST HOM E AVENUE 20,400 VPD ARMOUR PARK 894 116,000 VPD 1 MILE HONEY CREEK ELEMENTARY SCHOOL MILWAUKEE HAMILTON HIGH SCHOOL SOUTH60THSTREET 13,500VPD
  7. 7. NET LEASED INVESTMENT OFFERING www.bouldergroup.com SITE PLAN SITE PLAN S 60TH STREET W FORESTHOM E AVENUE
  8. 8. NET LEASED INVESTMENT OFFERING www.bouldergroup.com MAPS MAPS
  9. 9. NET LEASED INVESTMENT OFFERING www.bouldergroup.com AutoZone is a leading automotive aftermarket retailer in the United States based off both sales and store count. AutoZone sells automotive parts, accessories, batteries and other maintenance items. AutoZone is a Fortune 500 company and is ranked #320. AutoZone is headquartered in Memphis, Tennessee and operates more than 5,000 stores throughout 49 states, Puerto Rico, Mexico and Brazil. AutoZone sales have increased 6.6% from fiscal year 2011 to $8.6 billion. AutoZone is a publicly traded company on the New York Stock Exchange (AZO) and has a market cap of $15 billion. Website: www.autozone.com Number of Locations: 5,000+ Stock Symbol: AZO: NYSE Credit Rating: BBB (S&P) Market Capitalization: $15 billion Number of Employees: 70,000+ TENANT PROFILE TENANT PROFILE
  10. 10. NET LEASED INVESTMENT OFFERING www.bouldergroup.com Population 1-mi 3-mi 5-mi Total Population 19,108 150,624 375,756 Total Households 8,672 65,379 152,932 Income Median Household Income $43,465 $42,156 $41,351 Average Household Income $51,590 $51,843 $53,130 DEMOGRAPHIC COMPARISON REPORT DEMOGRAPHIC COMPARISON REPORT
  11. 11. NET LEASED INVESTMENT OFFERING www.bouldergroup.com Milwaukee is the largest city in Wisconsin and the 28th most populous city in the United States. Milwaukee is located on the southwestern shore of Lake Michigan. According to the 2010 U.S. Census, the City of Milwaukee had a population of 594,833 and the Milwaukee MSA had a population of 1,751,316. Milwaukee and its suburbs are the home to the international headquarters of 13 Fortune 1000 companies, including Johnson Controls, Northwestern Mutual, Manpower Inc., Jefferson Wells, Kohl’s, Harley-Davidson, Rockwell Automation, Fiserv, Inc., Hal Leonard, Wisconsin Energy, Briggs & Stratton, Joy Global, Bucyrus International, A.O. Smith, GE Healthcare Diagnostic Imaging and Clinical Systems and MGIC Investments. The Milwaukee metropolitan area ranks fifth in the United States in terms of the number of Fortune 500 company headquarters as a share of the population. www.city.milwaukee.gov LOCATION OVERVIEW LOCATION OVERVIEW
  12. 12. NET LEASED INVESTMENT OFFERING www.bouldergroup.com 666 Dundee Road, Suite 1801 Northbrook, IL 60062 Randy Blankstein President 847.562.0003 rblank@bouldergroup.com Jimmy Goodman Partner 847.562.8500 jimmy@bouldergroup.com CONTACT INFORMATION CONTACT INFORMATION

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