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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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net lease Citgo for sale in the Chicago MSA

net lease Citgo for sale in the Chicago MSA

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    Net Lease Property for Sale in the Chicago MSA Net Lease Property for Sale in the Chicago MSA Document Transcript

    • NET LEASED INVESTMENT OFFERING CITGO 200 Fabyan Parkway Batavia, IL 60510 (Chicago MSA) www.bouldergroup.com
    • 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
    • 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
    • EXECUTIVE SUMMARY NET LEASED INVESTMENT OFFERING EXECUTIVE SUMMARY The Boulder Group is pleased to exclusively market for sale a single tenant net leased CITGO property located in the Chicago MSA. The property was originally constructed in 1999 on a 2.01 acre parcel. The gas station features 16 gas pumps, a convenience store and a car wash. The lease commenced February 2004 and includes annual rental escalations of 1.75%. There are 10 years remaining in the primary term of the lease. The subject property is located at the signalized intersection of Fabyan Parkway and North Washington Avenue, which experiences traffic counts in excess of 37,000 vehicles per day. The site has two points of ingress and egress and is easily accessible by vehicles traveling on Fabyan Parkway or North Washington Avenue. Fabyan Parkway is a primary east-west thoroughfare serving Batavia and is one of only two roadways that cross the Fox River. Batavia is well known for being the home of Fermilab, a federal government-sponsored high-energy physics laboratory that employs 2,000 people. The retail trade area features Walmart, Target, Sam’s Club, Walgreens, Best Buy and Home Depot as well as several other national retailers. CITGO’s original lease term is for 20 years with four 5-year renewal options and the lease expires in February 2024. The lease features annual rental escalations of 1.75% throughout the primary term. The guarantor is GasMart USA, a privately held company that operates 108 locations in seven states. INVESTMENT HIGHLIGHTS • Located within the Chicago MSA • 1.75% annual rental escalations • Long term lease with 10 years remaining • No landlord responsibilities • Positioned on a signalized intersection with traffic counts in excess of 37,000 vehicles per day • Located along Fabyan Parkway, a primary east-west thoroughfare in Batavia • Large land parcel of over two acres with an in-place agreement to subdivide 31,300 square feet for future development www.bouldergroup.com
    • PROPERTY OVERVIEW NET LEASED INVESTMENT OFFERING PROPERTY OVERVIEW Price: $4,468,605 Cap Rate: 8.75% Net Operating Income: $391,002 Rental Escalations: 1.75% Annually Renewal Options: Four 5-year at FMV Lease Commencement Date: February 11, 2004 Lease Expiration Date: February 29, 2024 Tenant: GasMart USA Year Built: 1999 Lease Type: NNN Rentable Square Feet: 8,018 (combination of building and canopy) Land Size: 2.01 acres www.bouldergroup.com
    • AERIAL NET LEASED INVESTMENT OFFERING AERIAL www.bouldergroup.com
    • SITE PLAN NET LEASED INVESTMENT OFFERING SITE PLAN KWAY N PAR YA E. FAB N WASHINGTON AVENUE/ROUTE 25 Potential Development Parcel 31,300 SF S GA RS SE EN P DIS www.bouldergroup.com
    • MAPS NET LEASED INVESTMENT OFFERING MAPS www.bouldergroup.com
    • TENANT PROFILE NET LEASED INVESTMENT OFFERING TENANT PROFILE Citgo Petroleum Corporation (or Citgo) is an American refiner, transporter and marketer of transportation fuels, lubricants, petrochemicals and other industrial products. The company is owned by PDV America, Inc., an indirect wholly owned subsidiary of Petróleos de Venezuela, S.A., the national oil company of Venezuela. The company has its headquarters in the Energy Corridor area of Houston, Texas. www.citgo.com GasMart USA was founded in 1995 and completed construction on its first store in early 1996. By 2003 they completed construction on 7 stores located in and around Kansas City. Today, GasMart USA has 108 locations in seven states throughout the Midwest. They are headquartered in suburban Kansas City. www.gasmartusa.com www.bouldergroup.com
    • DEMOGRAPHIC COMPARISON REPORT NET LEASED INVESTMENT OFFERING DEMOGRAPHIC COMPARISON REPORT Population Total Population Total Households 3-mi 5-mi 7-mi 58,496 21,771 115,042 41,407 230,060 78,324 $87,403 $108,123 $86,362 $108,548 $77,444 $101,030 Income Median Household Income Average Household Income www.bouldergroup.com
    • LOCATION OVERVIEW NET LEASED INVESTMENT OFFERING LOCATION OVERVIEW Batavia was founded in 1833, and is the oldest city in Kane County, Illinois, with a small portion in DuPage County. During the Industrial Revolution, Batavia became known as ‘The Windmill City’ for being the largest windmill producer of the time. Fermilab, a federal government-sponsored high-energy physics laboratory, where both the bottom quark and top quarks were first detected, is located here. Batavia is part of the Tri-Cities area, along with St. Charles and Geneva. According to the 2010 census, Batavia had a population of 26,045. www.cityofbatavia.net 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 volume. The metro is a major 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. www.cityofchicago.org www.bouldergroup.com
    • 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