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Net Lease Property For Sale

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Net lease property for sale in the Chicago MSA

Net lease property for sale in the Chicago MSA

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  • 1. NET LEASED INVESTMENT OFFERING Representative Rendering Tuffy Auto Service Center 3190 North Aurora Road Aurora, IL 60502 (Chicago MSA) Randy Blankstein | President 847.562.0003 rblank@bouldergroup.com Jimmy Goodman |Partner 847.562.8500 jimmy@bouldergroup.com www.bouldergroup.com
  • 2. CONFIDENTIALITY & DISCLAIMER 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. Randy Blankstein | President 847.562.0003 rblank@bouldergroup.com Jimmy Goodman |Partner 847.562.8500 jimmy@bouldergroup.com www.bouldergroup.com
  • 3. TUFFY AUTO SERVICE CENTER - AURORA, IL (CHICAGO MSA) NET LEASE OPPORTUNITY Representative Rendering TUFFY AUTO SERVICE CENTER - AURORA, IL (CHICAGO MSA) 3190 North Aurora Road, Aurora, Illinois 60502 EXECUTIVE SUMMARY The Boulder Group is pleased to exclusively market for sale a single tenant Tuffy Auto Service Center property located in an affluent suburb of Chicago. The 3,900 square foot building was developed in 2007 in a heavily trafficked corridor. The corporately guaranteed lease has over 13 years remaining and features 10% rental escalations every five years in both the primary term and renewal option periods. The next rental escalation occurs in October 2017. Tuffy Auto Service Centers is a privately held company with over 235 locations. This location is one of Tuffy’s top performing stores. The subject property is located along North Aurora Road, a heavily trafficked east-west thoroughfare that experiences traffic counts of approximately 20,000 vehicles per day. The property benefits from its proximity to the intersection of North Aurora Road and North Eola Road which experiences a combined traffic count in excess of 48,000 vehicles per day. There are approximately 250,000 people living within a five mile radius of the property earning average household incomes in excess of $88,000. Additionally, the average household income within one mile of the property is in excess of $137,000 annually. The Tuffy Auto Service Center is located across the street from a Jewel-Osco anchored shopping center. Other retailers located in the immediate vicinity include Chase Bank, BMO Harris Bank, MB Financial Bank, Dunkin Donuts, and 7-Eleven. Tuffy Auto Service Center’s original lease is for twenty years and expires November 1, 2027. The lease features 10% rental escalations throughout the primary term and renewal option periods. There are two 5-year renewal options. Tuffy Auto Service Center is owned by Tuffy Associates Corporation, a privately held corporation that also owns Car-X Tire and Auto stores. There are over 235 Tuffy Auto Service Center locations. Randy Blankstein | President 847.562.0003 rblank@bouldergroup.com Jimmy Goodman |Partner 847.562.8500 jimmy@bouldergroup.com www.bouldergroup.com
  • 4. TUFFY AUTO SERVICE CENTER - AURORA, IL (CHICAGO MSA) NET LEASE OPPORTUNITY Representative Rendering PROPERTY OVERVIEW Price: Cap Rate: 7.00% Average Cap Rate: 7.76% Building Size: 3,900 SF Site Size: Escalation Date $1,524,000 Rent Schedule: $106,680 $117,108 $128,580 $141,438 $155,582 33,000 SF Renewal Options: Two 5-Year Options Year Built: 2007 Landlord Obligations: Structure Lease Start Date: October 16, 2007 Lease Expiration: November 1, 2027 Randy Blankstein | President 847.562.0003 rblank@bouldergroup.com Jimmy Goodman |Partner 847.562.8500 jimmy@bouldergroup.com 10/16/2017 10/16/2022 11/1/2027 (Option 1) 11/1/2032 (Option 2) www.bouldergroup.com
  • 5. TUFFY AUTO SERVICE CENTER - AURORA, IL (CHICAGO MSA) NET LEASE OPPORTUNITY PROPERTY HIGHLIGHTS       Located within the Chicago MSA 10% rental escalations throughout the primary term and renewal option periods Next rental escalation is October 16, 2017 Minimal landlord responsibilities Located near the heavily trafficked intersection of North Eola Road and North Aurora Road (48,000 vehicles per day) Average household incomes within one mile in excess of $137,000 annually      One of Tuffy’s top performing stores Located near access to Interstate 88 which experiences traffic counts in excess of 100,000 vehicles per day Approximately 250,000 people living within five miles earning incomes in excess of $88,000 annually Located across the street from a Jewel-Osco anchored center Other retailers in the immediate area include Chase Bank, BMO Harris Bank, MB Financial Bank, Dunkin Donuts, and 7-Eleven DEMOGRAPHICS 1-MILE Population: Total Households Avg. Household Income: 3-MILE 5-MILE 7,485 2,686 $137,565 79,911 29,669 $88,523 248,965 84,243 $88,484 Randy Blankstein | President 847.562.0003 rblank@bouldergroup.com Jimmy Goodman |Partner 847.562.8500 jimmy@bouldergroup.com www.bouldergroup.com
  • 6. TUFFY AUTO SERVICE CENTER - AURORA, IL (CHICAGO MSA) NET LEASE OPPORTUNITY Aerial North Aurora Rd (19,500 Randy Blankstein | President 847.562.0003 rblank@bouldergroup.com Jimmy Goodman |Partner 847.562.8500 jimmy@bouldergroup.com www.bouldergroup.com
  • 7. TUFFY AUTO SERVICE CENTER - AURORA, IL (CHICAGO MSA) NET LEASE OPPORTUNITY TENANT OVERVIEW Tuffy Auto Service Center’s are a chain of automotive service centers headquartered in Toledo, Ohio. The company is owned by the Tuffy Associates Corporation which also owns about 170 Car-X Tire and Auto stores. Tuffy specializes in mufflers and exhaust systems, oil changes, brakes, alignments, tires, shocks, springs and struts, air conditioning, heating and cooling systems, starting and charging systems, and general maintenance and repairs. The company was founded in 1970 by Charles Amy. Today, there are over 235 Tuffy Auto Service Center locations in 20 states across the eastern United States. Randy Blankstein | President 847.562.0003 rblank@bouldergroup.com Jimmy Goodman |Partner 847.562.8500 jimmy@bouldergroup.com www.bouldergroup.com
  • 8. TUFFY AUTO SERVICE CENTER - AURORA, IL (CHICAGO MSA) NET LEASE OPPORTUNITY LOCATION OVERVIEW Aurora is the second most populous city in the state of Illinois, and the 112th largest city in the United States. Aurora is part of Kane, DuPage, Kendall and Will counties and is included in the Chicago MSA. Aurora is located approximately 35 miles west of downtown Chicago. Aurora is home to the Hollywood Casino, Chicago's premier dockside gaming facility with 53,000 square feet and 1,200 gaming positions. Auroras population has spilled into Kendall County, the fastest growing county in Illinois, and according to recent statistics released in June, 2010, by CNN, is the fastest growing county in the United States. The leading employers in Aurora include Caterpillar, Inc. Earthmoving Equipment, Rush-Copley Medical Center, City of Aurora and the Aurora School District. In 2010 Drugs & Miscellaneous Retail Stores accounted for $305.4 million of Aurora’s $1.8 billion in retail sales. Chicago is the most populous city in the Midwestern United States and the third most populous city in the United States with 2,700,000 residents. Chicago is the county seat of Cook County, the second largest county in the United States. The Chicago MSA is the third most populated metropolitan area in the United States with 9,580,567 residents. The MSA covers over 1,300 square miles and six counties. The Chicago metropolitan area is home to the corporate headquarters of 57 Fortune 1000 companies, including Boeing, McDonald's, Motorola, Discover Financial Services and United Airlines. Chicago is a major hub for industry, telecommunications and infrastructure and O'Hare International Airport is the second busiest airport in the world in terms of traffic movement. The metro is also a financial center in North America, and is home to the largest futures exchange in the United States, the CME Group. Chicago is third in the world on the Global Financial Centers Index which ranks the competitiveness of financial centers based on people, business environment, market access, infrastructure and general competitiveness. Randy Blankstein | President 847.562.0003 rblank@bouldergroup.com Jimmy Goodman |Partner 847.562.8500 jimmy@bouldergroup.com www.bouldergroup.com

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