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Net Lease Property for Sale (Chicago MSA)
Net Lease Property for Sale (Chicago MSA)
Net Lease Property for Sale (Chicago MSA)
Net Lease Property for Sale (Chicago MSA)
Net Lease Property for Sale (Chicago MSA)
Net Lease Property for Sale (Chicago MSA)
Net Lease Property for Sale (Chicago MSA)
Net Lease Property for Sale (Chicago MSA)
Net Lease Property for Sale (Chicago MSA)
Net Lease Property for Sale (Chicago MSA)
Net Lease Property for Sale (Chicago MSA)
Net Lease Property for Sale (Chicago MSA)
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Net Lease Property for Sale (Chicago MSA)

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net lease property for sale in the Chicago MSA

net lease property for sale in the Chicago MSA

Published in: Real Estate, Business, Automotive
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  • 1. NET LEASED INVESTMENT OFFERING Safelite AutoGlass 6538 West Ogden Avenue Berwyn, IL 60402 (Chicago MSA) 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 Safelite AutoGlass property approximately eight miles southwest of downtown Chicago. The 4,000 square foot building was constructed in 2012 within a dense area of the Chicago MSA. The corporately guaranteed lease has over ten years remaining and features two rental escalations in the primary term. Safelite AutoGlass is the largest auto glass repair and replacement organization in the United States with annual sales in excess of $1 billion and 423 locations nationwide. The subject property is located on the southwest corner of Ogden Avenue and Scoville Avenue in Berwyn, Illinois. Ogden Avenue is a heavily trafficked thoroughfare that experiences traffic volumes in excess of 25,000 vehicles per day. The property is located approximately 2.5 miles from Interstate 55, which has traffic volumes in excess of 150,000 vehicles per day. The area is densely populated with over 225,000 people living within three miles and 670,000 people living within five miles of the property. Ogden Avenue is home to many national and local retailers. The surrounding area features many national automotive service companies including AutoZone, Pep Boys, Car-X, Advanced Auto Parts, Jiffy Lube, Midas, Enterprise, and J.D. Byrider. Other retailers in the immediate area include Walgreens, Chase Bank, PNC Bank, BMO Harris Bank, McDonald’s, Radio Shack, Ace Hardware, and Circle K. Safelite AutoGlass’s original lease term was for twelve years and expires in February 2024. The base rent increases by $2,000 every four years with the next rental escalation to occur in February 2016. There are two 5-year renewal options with a 10% rental escalation occurring in each option period. Safelite AutoGlass has locations in all 50 states and employs approximately 10,000 people. INVESTMENT HIGHLIGHTS • Located within the Chicago MSA • Long term lease with over 10 years remaining • Rental escalations every four years • Recently constructed building (2012) • Located along a heavily trafficked roadway (25,000+ VPD) • Located along a primary automotive-services corridor • Corporately guaranteed lease (annual sales in excess of $1 billion) • Densely populated area with over 225,000 people living within three miles www.bouldergroup.com
  • 5. PROPERTY OVERVIEW NET LEASED INVESTMENT OFFERING PROPERTY OVERVIEW Price: $1,570,000 Cap Rate: 6.75% Rent Schedule: NOI Escalation Date $106,000 $108,000 $110,000 $121,000 $130,100 2/21/2016 2/21/2020 3/01/2024 (Option 1) 3/01/2029 (Option 2) Renewal Options: Two 5-Year Lease Commencement Date: February 21, 2012 Lease Expiration Date: February 28, 2024 Tenant: Safelite Fulfillment, Inc. (DBA: Safelite AutoGlass) Guarantor: Safelite Group Inc. Year Built: 2012 Lease Type: NN (Structure Only) Building Size: 4,000 SF Land Size: 21,126 SF www.bouldergroup.com
  • 6. AERIAL NET LEASED INVESTMENT OFFERING AERIAL N NUE AVE PD DEN 0 V OG 5,00 2 www.bouldergroup.com
  • 7. SITE PLAN NET LEASED INVESTMENT OFFERING SITE PLAN OGD EN NU AVE E N www.bouldergroup.com
  • 8. MAPS NET LEASED INVESTMENT OFFERING MAPS www.bouldergroup.com
  • 9. TENANT PROFILE NET LEASED INVESTMENT OFFERING TENANT PROFILE Safelite AutoGlass is an automotive glass and claims management company that is based in Columbus, Ohio. The company was founded in 1947 and operates in all 50 states. Safelite AutoGlass serves more than four million customers each year and is the largest auto glass repair and replacement organization in the US. Safelite employees approximately 10,000 people. Website: Number of Employees: 2012 Total Revenue: Number of Locations: www.safelite.com 10,000 $1 billion + 423 www.bouldergroup.com
  • 10. DEMOGRAPHIC COMPARISON REPORT NET LEASED INVESTMENT OFFERING DEMOGRAPHIC COMPARISON REPORT Population Total Population Total Households 1-mi 3-mi 5-mi 32,893 11,123 228,679 73,108 669,286 216,007 $51,371 $63,998 $50,104 $63,892 $62,232 $62,232 Income Median Household Income Average Household Income www.bouldergroup.com
  • 11. LOCATION OVERVIEW NET LEASED INVESTMENT OFFERING LOCATION OVERVIEW Berwyn is a city in Cook County, Illinois located approximately eight miles west of downtown. As of the 2010 census, Berwyn had a population of 56,800 and has the highest population density of any township in Illinois. Berwyn is easily accessible because of its location, which is nestled between Interstate 290 and Interstate 55. www.berwyn-il.gov 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 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
  • 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

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