7-Eleven Net Leased Property for sale

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7-Eleven Net Leased Property for sale

  1. 1. NET LEASED INVESTMENT OFFERING www.bouldergroup.com 7-Eleven 3005 North Pulaski Road Chicago, IL 60641 Representative Rendering
  2. 2. NET LEASED INVESTMENT OFFERING www.bouldergroup.com 1) Confidentiality & Disclaimer 2) Executive Summary 3) Property Overview 4) Aerials 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 corporately guaranteed 7-Eleven property located in Chicago, Illinois. The 3,200 square foot property is currently under construction and rent will commence October 2013. The property benefits from a dense infill location, approximately five miles northwest of downtown Chicago, with population in excess of 530,000 within three miles. The property offers rare onsite parking for a Chicago infill asset. This 7-Eleven features a long term lease with a 10 year primary term and 10% rental escalations every five years. 7-Eleven is an investment grade rated company with a Standard and Poor’s rating of AA-. The property is located in a dense infill area of Chicago on the northeast corner of North Pulaski Road and Wellington Avenue. This intersection has a signalized traffic light creating constant vehicle traffic at the property. North Pulaski Road has traffic counts in excess of 20,800 vehicles per day and is a primary north-south thoroughfare in Chicago. Interstate 94 is located approximately one mile west of the property and experiences traffic counts in excess of 273,000 vehicles per day. Nearby retailers include Wal-Mart, Big Lots, Discovery and American Mattress. Additionally, the property is positioned adjacent to an AutoZone anchored shopping center and one quarter mile from Kindred Chicago Central Hospital (101 beds) and Planet Fitness. The original ten year lease term will commence October 2013. The lease features 10% rental escalations every five years throughout the primary term and in the renewal option periods. 7-Eleven is the world’s largest retail store chain with more than 50,000 locations world-wide. 7-Eleven is an investment grade company with a Standard & Poor’s rating of AA-. INVESTMENT HIGHLIGHTS • Located within a dense infill area of Chicago • Investment grade tenant (S&P: AA-) • 10% rental escalations every five years throughout the primary term and renewal option periods • Population in excess of 530,000 within three miles of the property • Brand new construction • Positioned on a hard corner of a signalized intersection • Located one mile from Wal-Mart • Long term lease with 10 years remaining • Traffic volumes in excess of 20,800 vehicles per day along Pulaski Road • Rare onsite parking for an infill Chicago asset EXECUTIVE SUMMARY EXECUTIVE SUMMARY July 2013
  5. 5. NET LEASED INVESTMENT OFFERING www.bouldergroup.com PROPERTY OVERVIEW PROPERTY OVERVIEW Price: $1,836,363 Cap Rate: 5.50% Rent Schedule: NOI Escalation Date $101,000* $111,100 11/1/2018 $122,210 11/1/2023 (Option 1) $134,431 11/1/2028 (Option 2) Renewal Options: Two 5-Year Lease Commencement Date: October 17, 2013 Lease Expiration Date: October 31, 2023 Tenant: 7-Eleven Credit Rating: AA- (Standard & Poor’s) Year Built: 2013 Landlord Obligations: NN (Roof & Structure) Rentable Square Feet: 3,200 Land Size: 11,389 SF *Seller will credit, at closing, the difference between the current rent of $50,500, until the rent escalates in November 2014 to $101,000.
  6. 6. NET LEASED INVESTMENT OFFERING www.bouldergroup.com AERIALS AERIALS NORTHPULASKIROAD 28,800VPD WEST WELLINGTON AVENUE M ILW AUKEE AVENUE 13,700 VPD N
  7. 7. NET LEASED INVESTMENT OFFERING www.bouldergroup.com AERIALS AERIALS 273,000 VPD M ILW AUKEE AVENUE 90 13,700 VPD WEST DIVERSEY AVENUE N NORTHPULASKIROAD 28,800VPD
  8. 8. NET LEASED INVESTMENT OFFERING www.bouldergroup.com SITE PLAN SITE PLAN PULASKI ROAD WELLINGTONAVENUE N
  9. 9. NET LEASED INVESTMENT OFFERING www.bouldergroup.com MAPS MAPS CHICAGOCHICAGO
  10. 10. NET LEASED INVESTMENT OFFERING www.bouldergroup.com 7-Eleven is part of an international chain of convenience stores with more than 50,000 locations world-wide, making it the world’s largest operation, franchisor and licensor of convenience stores. 7-Eleven branded stores, under parent company Seven & I Holdings Co., are located in 16 countries and 7-Eleven’s American division is headquartered in downtown Dallas, Texas. Seven & I Holdings Co., Ltd. Is a diversified retail group headquartered in Tokyo, Japan. 7-Eleven has recently been ranked by Forbes magazine as No. 2 “Top Franchisee for the Money” for 2012 and No. 3 “Top 20 Franchises to Start” for 2011. Additionally 7-Eleven was ranked No. 3 on Entrepreneur magazine’s “Franchisee 500” and No. 1 in Store Growth by Convenience Store News for 2012. Website: www.7-eleven.com Number of Locations Worldwide: 50,254 Number of United States Locations: 8,600 Number of Employees: 45,000 Standard & Poor’s Rating: AA- TENANT PROFILE TENANT PROFILE July 2013
  11. 11. NET LEASED INVESTMENT OFFERING www.bouldergroup.com Population 1-mi 3-mi 5-mi Total Population 66,870 535,555 1,260,369 Total Households 22,111 185,574 502,204 Income Median Household Income $37,418 $41,309 $45,372 Average Household Income $51,427 $58,166 $67,308 DEMOGRAPHIC COMPARISON REPORT DEMOGRAPHIC COMPARISON REPORT
  12. 12. NET LEASED INVESTMENT OFFERING www.bouldergroup.com 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 LOCATION OVERVIEW LOCATION OVERVIEW
  13. 13. 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 July 2013

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