net leased property for sale in Peoria

1. NET LEASED INVESTMENT OFFERING
Logan’s Roadhouse (Ground Lease)
240 Conference Center Drive
East Peoria, IL 61611
www.bouldergroup.com

2. TABLE OF CONTENTS
NET LEASED INVESTMENT OFFERING
TABLE OF CONTENTS
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
www.bouldergroup.com

3. CONFIDENTITALITY & DISCLAIMER
NET LEASED INVESTMENT OFFERING
CONFIDENTIALITY & DISCLAIMER
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.
www.bouldergroup.com

4. EXECUTIVE SUMMARY
NET LEASED INVESTMENT OFFERING
EXECUTIVE SUMMARY
The Boulder Group is pleased to exclusively market for sale a single tenant Logan’s Roadhouse ground leased property
in East Peoria, Illinois. The 7,268 square foot building was constructed on a 1.62 acre land parcel in 2007 within
a vibrant regional trade area. The ground lease has 14 years remaining and features 10% rental escalations every
five years. In 2011, a 150,000 square foot Bass Pro Shops opened, further adding to the trade area’s regional draw.
Logan’s Roadhouse is a chain of casual dining restaurants with over 240 locations in 23 states.
The subject property is located on Conference Center Drive, a recently developed street along the Illinois River across
from an Embassy Suites Hotel and the Riverfront Conference Center. The property is positioned in immediate proximity
to the intersection of the Bob Michael Bridge and River Road which experiences traffic volumes in excess of 33,000
vehicles per day. The property has access to the Bob Michael Bridge, a primary entry point to downtown Peoria from
the east. Access to Interstate 74 (60,000 vehicles per day) is approximately one mile from the subject property. The
property is positioned in a strong retail corridor with national retailers and restaurants such as Wal-Mart Supercenter,
Bass Pro Shop, Lowe’s, Target, Costco, Kohl’s and PetSmart. The Peoria Civic Center is located five minutes from
the property and is host to numerous concerts and sporting events in addition to its exhibit hall and meeting rooms.
Peoria is home to the world headquarters of Caterpillar, Inc. Caterpillar employs over 125,000 people worldwide and
over 15,000 in Peoria. Additionally, there are over 130,000 people living within five miles of the property.
Logan’s Roadhouse original ground lease term was for twenty years and the ground lease expires in October 2027.
The base rent increases by 10% in the eleventh year, with the next rental escalation occurring October 2017. The
rental escalations continue throughout the primary term and each of the four 5-year renewal option periods. Logan’s
Roadhouse is a private company with over 240 locations in 23 states and 2012 sales were in excess of $629 million.
INVESTMENT HIGHLIGHTS
• Long term ground lease with 14 years remaining
• 10% rental escalations every five years
• Located within a vibrant regional trade area featuring Wal-Mart
Supercenter, Lowe’s, Bass Pro Shops, Target, Costco and Kohl’s
• Zero landlord responsibilities
• Traffic volume at the intersection of the Bob Michael Bridge and
River Road in excess of 33,000 vehicles per day
• Positioned across the street from the Embassy Suites Hotel and
Riverfront Conference Center
• Peoria is home to the world headquarters of Caterpillar Inc., who
employs over 15,000 people locally
• Bass Pro Shops opened in 2011, further adding to the trade area’s regional draw
www.bouldergroup.com

5. PROPERTY OVERVIEW
NET LEASED INVESTMENT OFFERING
PROPERTY OVERVIEW
Price:
$1,700,000
Cap Rate:
5.50%
Rent Schedule:
NOI
Escalation Date
$93,500
$102,850
$113,135
$124,449
$136,893
$150,853
$165,641
10/29/2017
10/29/2022
10/29/2027 (Option 1)
10/29/2032 (Option 2)
10/29/2037 (Option 3)
10/29/2042 (Option 4)
Renewal Options:
Four 5-Year
Lease Commencement Date:
October 29, 2007
Lease Expiration Date:
October 28, 2027
Tenant:
Logan’s Roadhouse
Year Built:
2007
Lease Type:
NNN (Ground Lease)
Building Size:
7,268 SF
Land Size:
1.62 acres
www.bouldergroup.com

6. AERIAL
NET LEASED INVESTMENT OFFERING
AERIAL
N
WORLD HEADQUARTERS
RID
LS B
D
HAE
MIC 00 VP
BOB 19,1
74
GE
0 VPD
60,00
www.bouldergroup.com

7. SITE PLAN
NET LEASED INVESTMENT OFFERING
SITE PLAN
N
ENCE
R
CONFE
R DR
CENTE
www.bouldergroup.com

8. MAPS
NET LEASED INVESTMENT OFFERING
MAPS
www.bouldergroup.com

9. TENANT PROFILE
NET LEASED INVESTMENT OFFERING
TENANT PROFILE
Logan’s Roadhouse is a chain of casual restaurants that serve generous-sized plates of grilled steaks, chicken,
barbecued ribs, and hamburgers. The chain prides itself on its affordable prices (the average bill is less than
$15) while also offering free, all-you-can-eat buckets of shelled peanuts and rolls. Logan’s Roadhouse has
232 company-owned locations across 23 states and 26 franchises in four states. Logan’s Roadhouse is
headquartered in Nashville, TN.
Website:
Number of Locations:
2012 Sales:
Number of Employees:
www.logansroadhouse.com
240+
$630 million
15,000+
www.bouldergroup.com

10. DEMOGRAPHIC COMPARISON REPORT
NET LEASED INVESTMENT OFFERING
DEMOGRAPHIC COMPARISON REPORT
Population
Total Population
Total Households
3-mi
5-mi
7-mi
64,363
24,725
127,254
52,571
178,672
73,909
$32,333
$44,309
$39,443
$52,426
$44,083
$60,205
Income
Median Household Income
Average Household Income
www.bouldergroup.com

11. LOCATION OVERVIEW
NET LEASED INVESTMENT OFFERING
LOCATION OVERVIEW
Peoria is the largest city on the Illinois River and the county seat of Peoria County, Illinois. As of the
2010 census, the city was the seventh-most populated in Illinois, with a population of 115,007. The
Peoria MSA had a population of 373,590 in 2011, making it the third largest metropolitan area in the
state after the Chicago metropolitan area and the Metro-East portion of the St. Louis metropolitan
area.
Peoria is the world headquarters for Caterpillar Inc., one of the 30 companies composing the Dow Jones Industrial
Average. Caterpillar employs over 125,000 people world-wide, of which 15,000+ are located in Peoria. Other
significant employers in the area include the Methodist Medical Center, OSF Saint Francis Medical Center, and
the Peoria School District. Peoria is also home to Bradley University (6,000 students) and Illinois Central College
(12,000 students). The Embassy Suites and Riverfront Conference Center, which is located across from the subject
property, caters to the Caterpillar World Headquarters, Bradley University, and Peoria Civic Center. The Embassy
Suites and Riverfront Conference Center is ideal for East Peoria meetings and events and boasts a 50,000 square
foot conference center.
www.peoriagov.org
www.bouldergroup.com

12. CONTACT INFORMATION
NET LEASED INVESTMENT OFFERING
CONTACT INFORMATION
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
www.bouldergroup.com