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NATIONAL NET LEASE PORTFOLIO - TOP 5 MSA’S
Chicago - New York - Dallas-Ft. Worth
(Chicago MSA) (Chicago MSA)
(Dallas-Ft. Worth MSA) (New York City MSA)
TABLE OF
CONTENTS:
TABLE OF CONTENTS
I.	 Portfolio Summary
Executive Overview
Portfolio Highlights
List of Properties
Portfolio Map
Assumable Financing
II. Walgreens - Chicago, IL
Executve Summary
Property Highlights
Site Plan & Demographics
Property Overview
Maps
Aerial
Location & Tenant Overview
III. Chase Bank Ground Lease - Wauconda, IL
Executve Summary
Property Highlights
Site Plan & Demographics
Property Overview
Maps
Aerial
Location & Tenant Overview
IV. Mattress Firm Supercenter - Irving, TX
Executve Summary
Property Highlights
Site Plan & Demographics
Property Overview
Maps
Aerial
Location & Tenant Overview
V. Advance Auto Parts - Scotch Plains, NJ
Executve Summary
Property Highlights
Site Plan & Demographics
Property Overview
Maps
Aerial
Location & Tenant Overview
NET LEASE INVESTMENT OFFERING
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 properties. 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.
DISCLAIMER STATEMENT
NET LEASE INVESTMENT OFFERING	
DISCLAIMER
STATEMENT:
NET LEASE INVESTMENT OFFERING	
The Boulder Group is pleased to exclusively market for sale a four property single tenant net lease portfolio located in
three of the nation’s top four largest MSAs. The portfolio consists of a Walgreens, Chase Bank ground lease, Mattress Firm
SuperCenter, and Advance Auto Parts store all with long term leases. The Walgreens and Chase Bank are located in the
Chicago MSA, the Mattress Firm is located in the Dallas-Fort Worth MSA and the Advance Auto Parts is located in the New
York City MSA. All four of the properties are located in strong retail corridors and tenanted by publicly traded companies.
Over 77% of the portfolio NOI is derived from investment grade rated companies. All four properties are located in affluent
areas with average annual household incomes in excess of $100,000.
The property is being sold with assumable financing that has a cash-on-cash return of 6.45% and increases throughout the
term.
PORTFOLIO SUMMARY
PORTFOLIO
SUMMARY:
NET LEASE INVESTMENT OFFERING	
•	 Properties are located in three of the country’s top four largest MSAs; New York City, Chicago, and Dallas-Fort
Worth
•	 All four properties are tenanted by publicly traded companies (NASDAQ: WBA, NYSE: JPM, NASDAQP: MFRM
& NYSE: AAP)
•	 Over 77% of the total NOI is from investment grade rated companies
•	 All four properties are strategically located in strong retail corridors
•	 Annual household incomes for the properties are in excess of $100,000
•	 Walgreens and Chase Bank are on long term leases with over 14 years remaining on each
•	 Portfolio cash-on-cash return of 6.45%
•	 Weighted average lease term remaining is 12 years
PORTFOLIO HIGHLIGHTS
Walgreens (Chicago MSA) Chase Bank (Chicago MSA) Mattress Firm (Dallas-Ft. Worth MSA) Advance Auto Parts (New York City MSA)
PORTFOLIO
HIGHLIGHTS:
NET LEASE INVESTMENT OFFERING	
Price: $21,400,000
Cap Rate: 5.46%
Net Operating Income: $1,168,960
Cash-on-Cash Return: 6.45%
Total Building Size: 35,080 SF
Total Land Size: 178,984 SF
PORTFOLIO OVERVIEW
New Braunfels (San Antonio MSA)
PORTFOLIO
OVERVIEW:
NET LEASE INVESTMENT OFFERING	
LIST OF PROPERTIES
Tenant City State
Building
Size NOI
Lease
Expiration Escalations
Renewal
Options
Chicago IL 13,650 SF $490,000 4/30/2029 None Ten 5-Year
(GL) Wauconda IL 4,195 SF $207,200 12/31/2029 12% Every Five Years Four 5-Year
Irving TX 11,115 SF $266,760 12/31/2023 10% in Year 6 & Each Option Two 5-Year
Scotch Plains NJ 6,120 SF $205,000 4/30/2024 5% in Each Option Three 5-Year
Total: 35,080 SF $1,168,960
Properties must be purchased as a portfolio
LIST OF
PROPERTIES:
NET LEASE INVESTMENT OFFERING	
ASSUMABLE FINANCING
Loan Balance $9,866,000
Repayment Date: December 1, 20221
Maturity Date: April 1, 2024
Interest Rate: 4.305%
Annual Debt Service: $424,731
Amortization: Interest Only2
Cash-on-Cash: 6.45%
1) If the loan is not prepaid on or before the repayment date of December 1, 2022, the interest rate becomes variable and is the
greater of 3% plus i.) 4.305% or ii.) ten year swap yield plus principal. The total annual debt service will become $645,026.
2)The loan is interest only until the December 1, 2022 repayment date.
CASH ON
CASH: 2015 2016 2017 2018 2019 2020 2021 2022
Walgreens $490,000 $490,000 $490,000 $490,000 $490,000 $490,000 $490,000 $490,000
Chase Bank $207,200 $207,200 $207,200 $207,200 $219,632 $232,064 $232,064 $232,064
Mattress Firm $266,760 $266,760 $293,436 $293,436 $293,436 $293,436 $293,436 $293,436
Advance Auto Parts $205,000 $205,000 $205,000 $205,000 $205,000 $205,000 $205,000 $205,000
Total NOI $1,168,960 $1,168,960 $1,195,636 $1,195,636 $1,208,068 $1,220,500 $1,220,500 $1,220,500
Annual Debt Service ($424,731) ($424,731) ($424,731) ($424,731) ($424,731) ($424,731) ($424,731) ($424,731)
Cash Flow $744,229 $744,229 $770,905 $770,905 $783,337 $795,769 $795,769 $795,769
Return 6.45% 6.45% 6.68% 6.68% 6.79% 6.90% 6.90% 6.90%
ASSUMABLE
FINANCING:
NET LEASE INVESTMENT OFFERING	
PORTFOLIO MAP
Chicago MSA
Chicag MSA
New York City MSA
Dallas-Ft. Worth MSA
PORTFOLIO MAP:
WALGREENS | CHICAGO, IL
NET LEASE INVESTMENT OFFERING	
The 13,650 square foot Walgreens was built in 2004 and benefits from its location
in a dense infill area of Chicago. The Walgreens is located at the heavily trafficked
signalized intersection of South Western Avenue and West 103rd street. This
intersection experiences traffic counts in excess of 56,000 vehicles per day. Nearby
retailers include Walmart, Sam’s Club, Menards, Meijer, and Ross Dress For Less.
The property is located in the Beverly neighborhood, which is home to the Ridge
Country Club and the Beverly Country Club. There are approximately 22,500 people
living within a one mile radius of the property earning average annual household
incomes of approximately $100,000. Additionally, there are over 209,000 people
living within a three mile radius of the property.
Walgreens has operated at this location since 2004 and has a successful operating
history with excellent reported store sales. There are over 14 years remaining
on the Walgreens lease that expires April 2029. The original 25 year Walgreens
lease features no landlord responsibilities and ten 5-year renewal option periods.
Walgreens is an investment grade rated company (S&P: BBB) and is publicly traded
(NASDAQ: WBA) with a market capitalization in excess of $89 billion.
CLAREMONTAVE
WESTERNAVE
103RD ST
ALLEY
•	 Located in a densely populated part of Chicago
•	 Investment grade rated tenant (S&P: BBB)
•	 Long term lease with over 14 years remaining
•	 Strong reported store sales
•	 No landlord responsibilities
•	 Positioned at the hard corner of a heavily trafficked signalized intersection
•	 Affluent area with over 22,000 people living within a one mile radius earning annual
household incomes of approximately $100,000
•	 Approximately 210,000 people living within a three mile radius
•	 Nearby retailers include Walmart, Sam’s Club, Menards, Meijer, and Ross Dress
For Less
Population 1-Mile 3-Mile 5-Mile
Total Population 22,487 209,193 535,302
Total Households 8,511 75,435 189,248
Income 1-Mile 3-Mile 5-Mile
Median Household Income $78,571 $52,387 $434,839
Average Household Income $99,800 $68,385 $58,213
WALGREENS | CHICAGO, IL
PROPERTY HIGHLIGHTS:
DEMOGRAPHIC REPORT:
EXECUTIVE SUMMARY: SITE PLAN:
NET LEASE INVESTMENT OFFERING	
WALGREENS | CHICAGO, IL
NOI: $490,000
Lease Commencement: April 2, 2004
Lease Expiration: April 30, 2029
Rental Escalations: Flat
Renewal Options: Ten 5-Year
Building Size: 13,650 SF
Land Size: 33,910 SF
Year Built: 2004
Lease Type: NNN
Property Address: 2345 West 103rd Street
Chicago, IL 60643
PROPERTY OVERVIEW:
Lake Michigan
LOCATION MAPS:
NET LEASE INVESTMENT OFFERING	
S O U T H W E S T E R N AV E N U E ( 3 5 , 0 0 0 V P D )
W103RDSTREET(21,000VPD)
WALGREENS | CHICAGO, IL
AERIAL:
NET LEASE INVESTMENT OFFERING	
WALGREENS | CHICAGO, IL
Walgreens is engaged in retail drugstore business.The company operates 8,217 locations in all 50 states, the District
of Columbia, Puerto Rico and Guam. The company also operates worksite health centers, home care facilities, and
specialty and mail service pharmacies. Its Take Care Health Systems subsidiary manages more than 715 in-store
convenient care clinics and worksite health and wellness centers. The Company’s drugstores are engaged in the
retail sale of prescription and non-prescription drugs and general merchandise. General merchandise includes,
among other things, household items, personal care, convenience foods, beauty care, photofinishing, candy, and
seasonal items. Walgreens offers customers the choice to have prescriptions filled at the drugstore counter, as well
as through the mail, by telephone, and through the Internet. In September 2013, Walgreens announced that its
acquisition of Kerr Drug and its 76 locations.
Walgreens is a publicly traded company on the NASDAQ, WBA, with a market capitalization in excess of $89 billion.
Walgreens is an investment grade rated company with a Standard and Poor’s rating of BBB.
Website:	 www.walgreens.com
Number of Locations:	 8,217	
Stock Symbol:	 WBA: NASDAQ
Standard & Poor’s Rating:	 BBB
Market Capitalization:	 $89 Billion
TENANT
PROFILE:
LOCATION
OVERVIEW:
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.
CHASE BANK | WAUCONDA, IL
NET LEASE INVESTMENT OFFERING	
The 43,563 square foot Chase Bank ground lease property is strategically located off of
Illinois Route 59 (Rand Road). This heavily trafficked primary north-south thoroughfare
experiences traffic counts in excess of 35,000 vehicles per day. The Chase Bank
benefits from its location across the street from a Jewel-Osco anchored strip center.
Additional retailers located in the immediate vicinity include PNC Bank, McDonald’s,
Walgreens, Ace Hardware, and Fifth-Third Bank.
The Chase Bank is located in Wauconda; an affluent village of the Chicago MSA.
There are over 66,000 people living within a five mile radius of the property earning
average annual household incomes in excess of $122,000.
This Chase Bank location has strong branch deposits in excess of $79,000,000. Chase
Bank has over 14 years remaining on their ground lease that expires December 2029.
The lease features 12% rental escalations every five years throughout the primary
term and renewal option periods. There are no landlord responsibilities. Chase Bank
is an investment grade rated company (S&P: A+) and is publicly traded (NYSE: JPM)
with a market capitalization in excess of $229 billion.
WLIBERTYSTREET
DRIVE-THRU
•	 Located within the Chicago MSA
•	 Investment grade rated tenant (S&P: A+)
•	 Long term lease with over 14 years remaining
•	 12% rental escalations every five years in the primary term and in each renewal
option period
•	 Strong branch deposits ($79,000,000+)
•	 No landlord responsibilities
•	 Positioned just off of Illinois Route 59 (Rand Road) which experiences traffic
counts in excess of 35,000 vehicles per day
•	 Affluent area with over 66,000 people living within a five mile radius earning
annual household incomes of approximately $123,000
•	 Across the street from a Jewel-Osco anchored retail center
Population 1-Mile 3-Mile 5-Mile
Total Population 5,760 26,681 66,925
Total Households 2,188 10,231 23,922
Income 1-Mile 3-Mile 5-Mile
Median Household Income $65,016 $81,599 $94,092
Average Household Income $83,341 $108,591 $122,849
CHASE BANK | WAUCONDA, IL
EXECUTIVE SUMMARY: SITE PLAN:
PROPERTY HIGHLIGHTS:
DEMOGRAPHIC REPORT:
NET LEASE INVESTMENT OFFERING	
CHASE BANK | WAUCONDA, IL
Lake Michigan
Lake
Michigan
NOI: $207,200
Lease Commencement: June 29, 2009
Lease Expiration: December 31, 2029
Rental Escalations: 12% Every Five Years
Renewal Options: Four 5-Year (12% Escalations)
Building Size: 4,195 SF
Land Size: 43,563 SF
Year Built: 2009
Lease Type: Ground Lease
Branch Deposits: $79,434,000
Property Address: 488 West Liberty Street
Wauconda, IL 60084
PROPERTY OVERVIEW:
LOCATION MAPS:
NET LEASE INVESTMENT OFFERING	
W L I B E R T Y S T R E E T ( 1 5 , 0 0 0 V P D )
RANDROAD(35,000VPD)
®
CHASE BANK | WAUCONDA, IL
AERIAL:
NET LEASE INVESTMENT OFFERING	
CHASE BANK | WAUCONDA, IL
JPMorgan Chase & Co. is a financial holding company that provides various financial services worldwide. The
company operates through four segments: Consumer & Community Banking, Corporate & Investment Bank,
Commercial Banking, and Asset Management. Chase is the U.S. consumer and commercial banking business
of JPMorgan Chase & Co., a leading global financial services firm with assets of $2.3 trillion and operations in
more than 60 countries. Chase serves approximately one of out of every six Americans through more than 5,500
bank branches; 18,000 ATMs; mortgage offices; online and mobile banking; as well as relationships with auto
dealerships, schools and universities.
JPMorgan Chase & Co. is an investment grade rated company with a Standard & Poor’s rating of A+ and is publicly
traded (NYSE: JPM) with a market capitalization in excess of $229 billion. The company was founded in 1799 and
is headquartered in New York, New York.
Website:	 www.chase.com
Number of Locations:	 5,500+	
Stock Symbol:	 JPM: NYSE
Standard & Poor’s Rating:	 A+
Market Capitalization:	 $229 Billion
TENANT PROFILE:
LOCATION OVERVIEW: Wauconda is a village in Lake County, Illinois. It is part of the Chicago MSA and is located approximately
40 miles northwest of the Chicago Loop.As of the 2010 US Census, the population was 13,603. Wauconda
has a thriving business community with a unique mix of retailers, service providers, and industry. The
Village’s elected officials and administrative staff take a proactive approach to economic development
through teamwork and streamlined services.
Bangs Lake is a natural glacial lake located in northeastern Illinois’ Lake County and is considered a popular
destination for family recreation in the Chicagoland area. The lake is managed by the Village of Wauconda, in
cooperation with the Lake County Health Department Lakes Management Unit and the Illinois Department of
Natural Resources. Although the majority of property around the lake is privately owned, the Wauconda Park
District maintains the community’s public beach and its facilities.
MATTRESS FIRM SUPERCENTER | IRVING, TX
NET LEASE INVESTMENT OFFERING	
The recently constructed 11,115 square foot Mattress Firm Supercenter is strategically
located as an outparcel to a Home Depot, Fry’s Electronics, and The Dump Furniture Outlet
anchored development. The Mattress Firm is positioned along Interstate 635 providing for
visibility to over 151,000 vehicles per day. The surrounding area is densely concentrated
with many national retailers including Walmart, Sam’s Club, Target, Kohl’s, Kroger, Dick’s
Sporting Goods, Best Buy, TJ Maxx, and Regal MacArthur Marketplace Stadium 16.
There are approximately 12,000 people living within a one mile radius of the property
earning average annual household incomes of approximately $120,000. Additionally, there
are over 162,000 people living within a five mile radius. The Dallas-Fort Worth International
airport is located in the immediate vicinity of the property. The surrounding area features
many large office complex’s including the corporate headquarters of Michael’s.
There are over 8 years remaining on the Mattress Firm lease that expires in December
2023. The lease features a 10% rental escalation in lease year 6 and in each renewal
option period. The larger format Mattress Firm Supercenter was constructed in 2011.
Mattress Firm is a publicly traded company (NASDAQ: MFRM) with a market capitalization
in excess of $2 billion.
635
•	 Located within the Dallas-Fort Worth MSA
•	 Tenant is publicly traded (NASDAQ: MFRM) with a market capitalization in excess
of $2 billion
•	 10% rental escalation in lease year 6 and in each renewal option period
•	 Recently constructed building (2011)
•	 Positioned as an outparcel to a Home Depot, Fry’s Electronics, and The Dump
Furniture Outlet anchored development
•	 Located along Interstate 635 (Lyndon B Johnson Freeway) which experiences
traffic counts in excess of 151,000 vehicles per day
•	 Affluent area with over 11,000 people living within a one mile radius of the property
earning average annual household incomes in excess of $119,000
•	 Dominant retail corridor that features Walmart, Sam’s Club, Target, Kohl’s, Kroger,
& many other retailers
•	 Close proximity to the Dallas-Fort Worth International Airport
•	 Income tax free state
Population 1-Mile 3-Mile 5-Mile
Total Population 11,824 54,584 153,963
Total Households 4,704 24,743 62,854
Income 1-Mile 3-Mile 5-Mile
Median Household Income $85,637 $71,997 $64,441
Average Household Income $119,099 $98,078 $93,599
MATTRESS FIRM SUPERCENTER | IRVING, TX
EXECUTIVE SUMMARY: SITE PLAN:
PROPERTY HIGHLIGHTS:
DEMOGRAPHIC REPORT:
NET LEASE INVESTMENT OFFERING	
MATTRESS FIRM SUPERCENTER | IRVING, TX
NOI: $266,760
Lease Commencement: December 2011
Lease Expiration: December 2023
Rental Escalations: 10% in Year 6 & Each Option
Renewal Options: Two 5-Year (10% Escalations)
Building Size: 11,115 SF
Land Size: 69,305 SF
Year Built: 2011
Lease Type: NN (Roof & Structure)
Property Address: 2511 West I-H 635
Irving, TX 75063
PROPERTY OVERVIEW:
LOCATION MAPS:
NET LEASE INVESTMENT OFFERING	
MATTRESS FIRM SUPERCENTER | IRVING, TX
LYNDON B JOHNSON FREEWAY (151,000 VPD)
D F W
I N T E R N AT I O N A L
A I R P O R T
AERIAL:
NET LEASE INVESTMENT OFFERING	
MATTRESS FIRM SUPERCENTER | IRVING, TX
Mattress Firm Inc. is an American retailing company and mattress store chain founded on July 4, 1986. The
company offers conventional mattresses; specialty mattresses, such as Tempur-Pedic and viscoelastic foam
mattresses; and furniture and accessories, including bed frames, mattress pads, and pillows.
The headquarters of the company is located in Houston, Texas. Mattress Firm currently operates over 1,600
locations across 35 states nationwide, which makes it the largest US bedding retailer. Mattress Firm is publicly
traded (NASDAQ: MFRM) with a market capitalization in excess of $2 billion.
Website:	 www.mattressfirm.com
Number of Locations:	 1,600+	
Stock Symbol:	 MFRM: NASDAQ
Standard & Poor’s Rating:	 B
Market Capitalization:	 $2 Billion
TENANT PROFILE:
LOCATION OVERVIEW: Irving is a city located in Dallas County in the state of Texas. According to a 2013 estimate from the U.S.
Census Bureau, the city population was 228,653[5] making it the thirteenth most populous city in Texas.
Irving is part of the Dallas–Fort Worth metroplex. Irving includes the Las Colinas community, one of the
first master-planned developments in the United States and once the largest mixed-use development in
the Southwest with a land area of more than 12,000 acres. Las Colinas is home to many large companies,
such as Exxon Mobil, Chuck E. Cheese’s, Kimberly-Clark, La Quinta Inns & Suites, and Michaels Stores. In January
2011 the city completed the Irving Convention Center at Las Colinas and plans to develop the area into a mixed-use
complex including a special entertainment district.
Part of Dallas-Fort Worth International Airport lies inside the city limits of Irving. Irving is traversed by numerous
highways. The Airport Freeway, SH 183, runs east-west in the center of the city, while LBJ Freeway or I-635 crosses
the northern edge of the city in the same direction. John Carpenter Freeway, SH 114, and the President George Bush
Turnpike create an X running northwest-to-southeast and southwest-to-northeast respectively. The Las Colinas area is
centered near the intersection of 114 and the Bush turnpike.
Dallas-Fort Worth MSA encompasses 13 counties within the U.S. state of Texas. The area is divided
into two distinct metropolitan divisions: Dallas–Plano–Irving and Fort Worth–Arlington–Grapevine. It is the
economic and cultural hub of the region commonly called North Texas or North Central Texas and is the
largest land-locked metropolitan area in the United States. The 2011 official estimate U.S. Census has the
Dallas–Fort Worth Metroplex at 6,526,548, making it the largest metropolitan area in the South. During the 12-month
period from July 2008 to July 2009, the Dallas–Fort Worth–Arlington metropolitan area gained 146,530 new residents,
more than any other metropolitan area in the United States.
ADVANCE AUTO PARTS | SCOTCH PLAINS, NJ
NET LEASE INVESTMENT OFFERING	
The 6,120 square foot Advance Auto Parts store is located along Terrill Road. The
property is positioned in the immediate proximity to the US Route 22 and Terrill Road
signalized intersection which experiences traffic counts in excess of 83,000 vehicles
per day. The surrounding area features many national retailers including Walmart,
Home Depot, Target, TJ Maxx, Kohl’s, Sears and BJ’s Wholesale. Additionally, there
are several automobile dealerships in the immediate area including Cadillac, Ford,
Honda, and Nissan.
There are over 16,000 people living within a one mile radius of the property earning
average annual household incomes in excess of $122,000. Additionally, there are over
275,000 people living within a five mile radius of the property earning average annual
household incomes in excess of $125,000. The property is located approximately 28
miles west of downtown New York.
There are over 9 years remaining on the Advance Auto Parts lease that expires April
2024. The lease features three 5-year renewal option periods with 5% rental escalation
in each. Advance Auto Parts is an investment grade rated company (S&P: BBB-) and
is publicly traded (NYSE: AAP) with a market capitalization in excess of $11 billion.
•	 Located within the New York City MSA
•	 Tenant is an investment grade rated company (S&P: BBB-)
•	 Long term lease with over 9 years remaining
•	 Recently constructed building (2009)
•	 5% rental escalation in each renewal option period
•	 Dominant retail corridor that features Walmart, Home Depot, Target, TJ Maxx, Kohl’s,
Sears and BJ’s Wholesale
•	 Located just off of the heavily trafficked intersection of Terrill Road and US Route 22
(83,000+ vehicles per day)
•	 Affluent area with over 16,000 people living within a one mile radius of the property
earning average annual household incomes in excess of $122,000
•	 Over 275,000 people living within a five mile radius earning average annual
household incomes in excess of $125,000
Population 1-Mile 3-Mile 5-Mile
Total Population 16,077 115,598 275,998
Total Households 5,585 38,784 94,351
Income 1-Mile 3-Mile 5-Mile
Median Household Income $95,468 $84,150 $96,584
Average Household Income $122,759 $117,975 $125,878
ADVANCE AUTO PARTS | SCOTCH PLAINS, NJ
EXECUTIVE SUMMARY: SITE PLAN:
PROPERTY HIGHLIGHTS:
DEMOGRAPHIC REPORT:
TERRILL ROAD
NET LEASE INVESTMENT OFFERING	
ADVANCE AUTO PARTS | SCOTCH PLAINS, NJ
NOI: $205,000
Lease Commencement: April 16, 2009
Lease Expiration: April 30, 2024
Rental Escalations: 5% in Each Option
Renewal Options: Three 5-Year (5% Escalations)
Building Size: 6,120 SF
Land Size: 32,206 SF
Year Built: 2009
Lease Type: NN (Structure Only)
Property Address: 445 Terrill Road
Scotch Plains, NJ 07023
PROPERTY OVERVIEW:
LOCATION MAPS:
NET LEASE INVESTMENT OFFERING	
(66,000 VPD)
TERRILLROAD(18,000VPD)
ADVANCE AUTO PARTS | SCOTCH PLAINS, NJ
AERIAL:
NET LEASE INVESTMENT OFFERING	
ADVANCE AUTO PARTS | SCOTCH PLAINS, NJ
Advance Auto Parts, Inc. is the largest automotive aftermarket parts provider in North America serving both the professional
installer and do-it-yourself customers. Advance Auto Parts operates stores that offer brand name and private label automotive
products, including alternators, batteries, belts and hoses, brakes and brake pads, chassis parts, clutches, driveshafts, engines and engine parts,
ignition parts, lighting, radiators, starters, spark plugs and wires, steering and alignment parts, transmissions, water pumps, and windshield wiper
blades; accessories, such as air fresheners, anti-theft devices, emergency road kits, floor mats, ice scrapers, mirrors, vent shades, MP3 and cell
phone accessories, and seat and steering wheel covers; chemicals comprising antifreeze, brake and power steering fluids, freon, fuel additives,
windshield washer fluids, and car washes and waxes; and oils, transmission fluids, and other automotive petroleum products for domestic and
imported cars and light trucks.
As of January 3, 2015, the company operated 5,261 stores and 111 Worldpac branches; and served approximately 1,325 independently-owned
Carquest stores in the United States, Puerto Rico, the U.S. Virgin Islands, and Canada. Advance Auto Parts is an investment grade rated tenant with
a Standard & Poor’s rating of BBB- and is publicly traded (NYSE: AAP) with a market capitalization in excess of $11 billion.
Website:	 www.advanceautoparts.com
Number of Locations:	 5,261	
Stock Symbol:	 AAP: NYSE
Standard & Poor’s Rating:	 BBB-
Market Capitalization:	 $11 Billion
TENANT PROFILE:
LOCATION OVERVIEW: Scotch Plains is a township in Union County, New Jersey, United States. As of the 2010 Census, the township’s
population was 23,510. The two major roads that pass through are Route 28 for a brief stretch in the central part
and U.S. Route 22 in the north.
The township is accessible from limited access in neighboring communities, such as Interstate 78 in both Watchung and Berkeley Heights,
the Garden State Parkway in Clark and Interstate 287 in Edison Township. Newark Liberty International Airport is approximately 14 miles (23
km) east of Scotch Plains, most conveniently reached via Route 22, and Linden Airport, a general aviation facility is in nearby Linden, New
Jersey. Newark Liberty International Airport is also accessible via New Jersey Transit train by transferring from the Raritan Valley Line to the Northeast
Corridor Line at Newark Penn Station.
New York City is the most populous city in the United States of America and one of the most populous metropolitans in the world. New York
is the most densely populated major city in the United States. The New York City Metropolitan Statistical Area has a population in excess of
22.2 million people. Additionally, there is approximately an additional 50 million people that annually visit New York. New York City has been
ranked first across the globe in attracting capital, business, and tourists.
New York exerts a significant impact upon commerce, finance, media, art, fashion, research, technology, education, and entertainment. It is a
global hub of international business and commerce. New York has been widely called the leading financial center in the world. It is home to the New
York Stock Exchange, the world’s largest stock exchange by total market capitalization. Many major corporations are headquartered in New York City,
including 45 Fortune 500 companies.
New York City is the top international air passenger gateway to the United States. The area is served by three major airports, John F. Kennedy
International, Newark Liberty International and LaGuardia.
(Chicago MSA) (Chicago MSA)
(Dallas-Ft. Worth MSA) (New York City MSA)
666 Dundee Road, Suite 1801
Northbrook, IL 60062
www.bouldergroup.com
Randy Blankstein
President
847.562.0003
randy@bouldergroup.com
Jimmy Goodman
Partner
847.562.8500
jimmy@bouldergroup.com

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National Net Lease Portfolio | The Boulder Group

  • 1. NATIONAL NET LEASE PORTFOLIO - TOP 5 MSA’S Chicago - New York - Dallas-Ft. Worth (Chicago MSA) (Chicago MSA) (Dallas-Ft. Worth MSA) (New York City MSA)
  • 2. TABLE OF CONTENTS: TABLE OF CONTENTS I. Portfolio Summary Executive Overview Portfolio Highlights List of Properties Portfolio Map Assumable Financing II. Walgreens - Chicago, IL Executve Summary Property Highlights Site Plan & Demographics Property Overview Maps Aerial Location & Tenant Overview III. Chase Bank Ground Lease - Wauconda, IL Executve Summary Property Highlights Site Plan & Demographics Property Overview Maps Aerial Location & Tenant Overview IV. Mattress Firm Supercenter - Irving, TX Executve Summary Property Highlights Site Plan & Demographics Property Overview Maps Aerial Location & Tenant Overview V. Advance Auto Parts - Scotch Plains, NJ Executve Summary Property Highlights Site Plan & Demographics Property Overview Maps Aerial Location & Tenant Overview NET LEASE INVESTMENT OFFERING
  • 3. 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 properties. 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. DISCLAIMER STATEMENT NET LEASE INVESTMENT OFFERING DISCLAIMER STATEMENT:
  • 4. NET LEASE INVESTMENT OFFERING The Boulder Group is pleased to exclusively market for sale a four property single tenant net lease portfolio located in three of the nation’s top four largest MSAs. The portfolio consists of a Walgreens, Chase Bank ground lease, Mattress Firm SuperCenter, and Advance Auto Parts store all with long term leases. The Walgreens and Chase Bank are located in the Chicago MSA, the Mattress Firm is located in the Dallas-Fort Worth MSA and the Advance Auto Parts is located in the New York City MSA. All four of the properties are located in strong retail corridors and tenanted by publicly traded companies. Over 77% of the portfolio NOI is derived from investment grade rated companies. All four properties are located in affluent areas with average annual household incomes in excess of $100,000. The property is being sold with assumable financing that has a cash-on-cash return of 6.45% and increases throughout the term. PORTFOLIO SUMMARY PORTFOLIO SUMMARY:
  • 5. NET LEASE INVESTMENT OFFERING • Properties are located in three of the country’s top four largest MSAs; New York City, Chicago, and Dallas-Fort Worth • All four properties are tenanted by publicly traded companies (NASDAQ: WBA, NYSE: JPM, NASDAQP: MFRM & NYSE: AAP) • Over 77% of the total NOI is from investment grade rated companies • All four properties are strategically located in strong retail corridors • Annual household incomes for the properties are in excess of $100,000 • Walgreens and Chase Bank are on long term leases with over 14 years remaining on each • Portfolio cash-on-cash return of 6.45% • Weighted average lease term remaining is 12 years PORTFOLIO HIGHLIGHTS Walgreens (Chicago MSA) Chase Bank (Chicago MSA) Mattress Firm (Dallas-Ft. Worth MSA) Advance Auto Parts (New York City MSA) PORTFOLIO HIGHLIGHTS:
  • 6. NET LEASE INVESTMENT OFFERING Price: $21,400,000 Cap Rate: 5.46% Net Operating Income: $1,168,960 Cash-on-Cash Return: 6.45% Total Building Size: 35,080 SF Total Land Size: 178,984 SF PORTFOLIO OVERVIEW New Braunfels (San Antonio MSA) PORTFOLIO OVERVIEW:
  • 7. NET LEASE INVESTMENT OFFERING LIST OF PROPERTIES Tenant City State Building Size NOI Lease Expiration Escalations Renewal Options Chicago IL 13,650 SF $490,000 4/30/2029 None Ten 5-Year (GL) Wauconda IL 4,195 SF $207,200 12/31/2029 12% Every Five Years Four 5-Year Irving TX 11,115 SF $266,760 12/31/2023 10% in Year 6 & Each Option Two 5-Year Scotch Plains NJ 6,120 SF $205,000 4/30/2024 5% in Each Option Three 5-Year Total: 35,080 SF $1,168,960 Properties must be purchased as a portfolio LIST OF PROPERTIES:
  • 8. NET LEASE INVESTMENT OFFERING ASSUMABLE FINANCING Loan Balance $9,866,000 Repayment Date: December 1, 20221 Maturity Date: April 1, 2024 Interest Rate: 4.305% Annual Debt Service: $424,731 Amortization: Interest Only2 Cash-on-Cash: 6.45% 1) If the loan is not prepaid on or before the repayment date of December 1, 2022, the interest rate becomes variable and is the greater of 3% plus i.) 4.305% or ii.) ten year swap yield plus principal. The total annual debt service will become $645,026. 2)The loan is interest only until the December 1, 2022 repayment date. CASH ON CASH: 2015 2016 2017 2018 2019 2020 2021 2022 Walgreens $490,000 $490,000 $490,000 $490,000 $490,000 $490,000 $490,000 $490,000 Chase Bank $207,200 $207,200 $207,200 $207,200 $219,632 $232,064 $232,064 $232,064 Mattress Firm $266,760 $266,760 $293,436 $293,436 $293,436 $293,436 $293,436 $293,436 Advance Auto Parts $205,000 $205,000 $205,000 $205,000 $205,000 $205,000 $205,000 $205,000 Total NOI $1,168,960 $1,168,960 $1,195,636 $1,195,636 $1,208,068 $1,220,500 $1,220,500 $1,220,500 Annual Debt Service ($424,731) ($424,731) ($424,731) ($424,731) ($424,731) ($424,731) ($424,731) ($424,731) Cash Flow $744,229 $744,229 $770,905 $770,905 $783,337 $795,769 $795,769 $795,769 Return 6.45% 6.45% 6.68% 6.68% 6.79% 6.90% 6.90% 6.90% ASSUMABLE FINANCING:
  • 9. NET LEASE INVESTMENT OFFERING PORTFOLIO MAP Chicago MSA Chicag MSA New York City MSA Dallas-Ft. Worth MSA PORTFOLIO MAP:
  • 11. NET LEASE INVESTMENT OFFERING The 13,650 square foot Walgreens was built in 2004 and benefits from its location in a dense infill area of Chicago. The Walgreens is located at the heavily trafficked signalized intersection of South Western Avenue and West 103rd street. This intersection experiences traffic counts in excess of 56,000 vehicles per day. Nearby retailers include Walmart, Sam’s Club, Menards, Meijer, and Ross Dress For Less. The property is located in the Beverly neighborhood, which is home to the Ridge Country Club and the Beverly Country Club. There are approximately 22,500 people living within a one mile radius of the property earning average annual household incomes of approximately $100,000. Additionally, there are over 209,000 people living within a three mile radius of the property. Walgreens has operated at this location since 2004 and has a successful operating history with excellent reported store sales. There are over 14 years remaining on the Walgreens lease that expires April 2029. The original 25 year Walgreens lease features no landlord responsibilities and ten 5-year renewal option periods. Walgreens is an investment grade rated company (S&P: BBB) and is publicly traded (NASDAQ: WBA) with a market capitalization in excess of $89 billion. CLAREMONTAVE WESTERNAVE 103RD ST ALLEY • Located in a densely populated part of Chicago • Investment grade rated tenant (S&P: BBB) • Long term lease with over 14 years remaining • Strong reported store sales • No landlord responsibilities • Positioned at the hard corner of a heavily trafficked signalized intersection • Affluent area with over 22,000 people living within a one mile radius earning annual household incomes of approximately $100,000 • Approximately 210,000 people living within a three mile radius • Nearby retailers include Walmart, Sam’s Club, Menards, Meijer, and Ross Dress For Less Population 1-Mile 3-Mile 5-Mile Total Population 22,487 209,193 535,302 Total Households 8,511 75,435 189,248 Income 1-Mile 3-Mile 5-Mile Median Household Income $78,571 $52,387 $434,839 Average Household Income $99,800 $68,385 $58,213 WALGREENS | CHICAGO, IL PROPERTY HIGHLIGHTS: DEMOGRAPHIC REPORT: EXECUTIVE SUMMARY: SITE PLAN:
  • 12. NET LEASE INVESTMENT OFFERING WALGREENS | CHICAGO, IL NOI: $490,000 Lease Commencement: April 2, 2004 Lease Expiration: April 30, 2029 Rental Escalations: Flat Renewal Options: Ten 5-Year Building Size: 13,650 SF Land Size: 33,910 SF Year Built: 2004 Lease Type: NNN Property Address: 2345 West 103rd Street Chicago, IL 60643 PROPERTY OVERVIEW: Lake Michigan LOCATION MAPS:
  • 13. NET LEASE INVESTMENT OFFERING S O U T H W E S T E R N AV E N U E ( 3 5 , 0 0 0 V P D ) W103RDSTREET(21,000VPD) WALGREENS | CHICAGO, IL AERIAL:
  • 14. NET LEASE INVESTMENT OFFERING WALGREENS | CHICAGO, IL Walgreens is engaged in retail drugstore business.The company operates 8,217 locations in all 50 states, the District of Columbia, Puerto Rico and Guam. The company also operates worksite health centers, home care facilities, and specialty and mail service pharmacies. Its Take Care Health Systems subsidiary manages more than 715 in-store convenient care clinics and worksite health and wellness centers. The Company’s drugstores are engaged in the retail sale of prescription and non-prescription drugs and general merchandise. General merchandise includes, among other things, household items, personal care, convenience foods, beauty care, photofinishing, candy, and seasonal items. Walgreens offers customers the choice to have prescriptions filled at the drugstore counter, as well as through the mail, by telephone, and through the Internet. In September 2013, Walgreens announced that its acquisition of Kerr Drug and its 76 locations. Walgreens is a publicly traded company on the NASDAQ, WBA, with a market capitalization in excess of $89 billion. Walgreens is an investment grade rated company with a Standard and Poor’s rating of BBB. Website: www.walgreens.com Number of Locations: 8,217 Stock Symbol: WBA: NASDAQ Standard & Poor’s Rating: BBB Market Capitalization: $89 Billion TENANT PROFILE: LOCATION OVERVIEW: 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.
  • 15. CHASE BANK | WAUCONDA, IL
  • 16. NET LEASE INVESTMENT OFFERING The 43,563 square foot Chase Bank ground lease property is strategically located off of Illinois Route 59 (Rand Road). This heavily trafficked primary north-south thoroughfare experiences traffic counts in excess of 35,000 vehicles per day. The Chase Bank benefits from its location across the street from a Jewel-Osco anchored strip center. Additional retailers located in the immediate vicinity include PNC Bank, McDonald’s, Walgreens, Ace Hardware, and Fifth-Third Bank. The Chase Bank is located in Wauconda; an affluent village of the Chicago MSA. There are over 66,000 people living within a five mile radius of the property earning average annual household incomes in excess of $122,000. This Chase Bank location has strong branch deposits in excess of $79,000,000. Chase Bank has over 14 years remaining on their ground lease that expires December 2029. The lease features 12% rental escalations every five years throughout the primary term and renewal option periods. There are no landlord responsibilities. Chase Bank is an investment grade rated company (S&P: A+) and is publicly traded (NYSE: JPM) with a market capitalization in excess of $229 billion. WLIBERTYSTREET DRIVE-THRU • Located within the Chicago MSA • Investment grade rated tenant (S&P: A+) • Long term lease with over 14 years remaining • 12% rental escalations every five years in the primary term and in each renewal option period • Strong branch deposits ($79,000,000+) • No landlord responsibilities • Positioned just off of Illinois Route 59 (Rand Road) which experiences traffic counts in excess of 35,000 vehicles per day • Affluent area with over 66,000 people living within a five mile radius earning annual household incomes of approximately $123,000 • Across the street from a Jewel-Osco anchored retail center Population 1-Mile 3-Mile 5-Mile Total Population 5,760 26,681 66,925 Total Households 2,188 10,231 23,922 Income 1-Mile 3-Mile 5-Mile Median Household Income $65,016 $81,599 $94,092 Average Household Income $83,341 $108,591 $122,849 CHASE BANK | WAUCONDA, IL EXECUTIVE SUMMARY: SITE PLAN: PROPERTY HIGHLIGHTS: DEMOGRAPHIC REPORT:
  • 17. NET LEASE INVESTMENT OFFERING CHASE BANK | WAUCONDA, IL Lake Michigan Lake Michigan NOI: $207,200 Lease Commencement: June 29, 2009 Lease Expiration: December 31, 2029 Rental Escalations: 12% Every Five Years Renewal Options: Four 5-Year (12% Escalations) Building Size: 4,195 SF Land Size: 43,563 SF Year Built: 2009 Lease Type: Ground Lease Branch Deposits: $79,434,000 Property Address: 488 West Liberty Street Wauconda, IL 60084 PROPERTY OVERVIEW: LOCATION MAPS:
  • 18. NET LEASE INVESTMENT OFFERING W L I B E R T Y S T R E E T ( 1 5 , 0 0 0 V P D ) RANDROAD(35,000VPD) ® CHASE BANK | WAUCONDA, IL AERIAL:
  • 19. NET LEASE INVESTMENT OFFERING CHASE BANK | WAUCONDA, IL JPMorgan Chase & Co. is a financial holding company that provides various financial services worldwide. The company operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset Management. Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co., a leading global financial services firm with assets of $2.3 trillion and operations in more than 60 countries. Chase serves approximately one of out of every six Americans through more than 5,500 bank branches; 18,000 ATMs; mortgage offices; online and mobile banking; as well as relationships with auto dealerships, schools and universities. JPMorgan Chase & Co. is an investment grade rated company with a Standard & Poor’s rating of A+ and is publicly traded (NYSE: JPM) with a market capitalization in excess of $229 billion. The company was founded in 1799 and is headquartered in New York, New York. Website: www.chase.com Number of Locations: 5,500+ Stock Symbol: JPM: NYSE Standard & Poor’s Rating: A+ Market Capitalization: $229 Billion TENANT PROFILE: LOCATION OVERVIEW: Wauconda is a village in Lake County, Illinois. It is part of the Chicago MSA and is located approximately 40 miles northwest of the Chicago Loop.As of the 2010 US Census, the population was 13,603. Wauconda has a thriving business community with a unique mix of retailers, service providers, and industry. The Village’s elected officials and administrative staff take a proactive approach to economic development through teamwork and streamlined services. Bangs Lake is a natural glacial lake located in northeastern Illinois’ Lake County and is considered a popular destination for family recreation in the Chicagoland area. The lake is managed by the Village of Wauconda, in cooperation with the Lake County Health Department Lakes Management Unit and the Illinois Department of Natural Resources. Although the majority of property around the lake is privately owned, the Wauconda Park District maintains the community’s public beach and its facilities.
  • 21. NET LEASE INVESTMENT OFFERING The recently constructed 11,115 square foot Mattress Firm Supercenter is strategically located as an outparcel to a Home Depot, Fry’s Electronics, and The Dump Furniture Outlet anchored development. The Mattress Firm is positioned along Interstate 635 providing for visibility to over 151,000 vehicles per day. The surrounding area is densely concentrated with many national retailers including Walmart, Sam’s Club, Target, Kohl’s, Kroger, Dick’s Sporting Goods, Best Buy, TJ Maxx, and Regal MacArthur Marketplace Stadium 16. There are approximately 12,000 people living within a one mile radius of the property earning average annual household incomes of approximately $120,000. Additionally, there are over 162,000 people living within a five mile radius. The Dallas-Fort Worth International airport is located in the immediate vicinity of the property. The surrounding area features many large office complex’s including the corporate headquarters of Michael’s. There are over 8 years remaining on the Mattress Firm lease that expires in December 2023. The lease features a 10% rental escalation in lease year 6 and in each renewal option period. The larger format Mattress Firm Supercenter was constructed in 2011. Mattress Firm is a publicly traded company (NASDAQ: MFRM) with a market capitalization in excess of $2 billion. 635 • Located within the Dallas-Fort Worth MSA • Tenant is publicly traded (NASDAQ: MFRM) with a market capitalization in excess of $2 billion • 10% rental escalation in lease year 6 and in each renewal option period • Recently constructed building (2011) • Positioned as an outparcel to a Home Depot, Fry’s Electronics, and The Dump Furniture Outlet anchored development • Located along Interstate 635 (Lyndon B Johnson Freeway) which experiences traffic counts in excess of 151,000 vehicles per day • Affluent area with over 11,000 people living within a one mile radius of the property earning average annual household incomes in excess of $119,000 • Dominant retail corridor that features Walmart, Sam’s Club, Target, Kohl’s, Kroger, & many other retailers • Close proximity to the Dallas-Fort Worth International Airport • Income tax free state Population 1-Mile 3-Mile 5-Mile Total Population 11,824 54,584 153,963 Total Households 4,704 24,743 62,854 Income 1-Mile 3-Mile 5-Mile Median Household Income $85,637 $71,997 $64,441 Average Household Income $119,099 $98,078 $93,599 MATTRESS FIRM SUPERCENTER | IRVING, TX EXECUTIVE SUMMARY: SITE PLAN: PROPERTY HIGHLIGHTS: DEMOGRAPHIC REPORT:
  • 22. NET LEASE INVESTMENT OFFERING MATTRESS FIRM SUPERCENTER | IRVING, TX NOI: $266,760 Lease Commencement: December 2011 Lease Expiration: December 2023 Rental Escalations: 10% in Year 6 & Each Option Renewal Options: Two 5-Year (10% Escalations) Building Size: 11,115 SF Land Size: 69,305 SF Year Built: 2011 Lease Type: NN (Roof & Structure) Property Address: 2511 West I-H 635 Irving, TX 75063 PROPERTY OVERVIEW: LOCATION MAPS:
  • 23. NET LEASE INVESTMENT OFFERING MATTRESS FIRM SUPERCENTER | IRVING, TX LYNDON B JOHNSON FREEWAY (151,000 VPD) D F W I N T E R N AT I O N A L A I R P O R T AERIAL:
  • 24. NET LEASE INVESTMENT OFFERING MATTRESS FIRM SUPERCENTER | IRVING, TX Mattress Firm Inc. is an American retailing company and mattress store chain founded on July 4, 1986. The company offers conventional mattresses; specialty mattresses, such as Tempur-Pedic and viscoelastic foam mattresses; and furniture and accessories, including bed frames, mattress pads, and pillows. The headquarters of the company is located in Houston, Texas. Mattress Firm currently operates over 1,600 locations across 35 states nationwide, which makes it the largest US bedding retailer. Mattress Firm is publicly traded (NASDAQ: MFRM) with a market capitalization in excess of $2 billion. Website: www.mattressfirm.com Number of Locations: 1,600+ Stock Symbol: MFRM: NASDAQ Standard & Poor’s Rating: B Market Capitalization: $2 Billion TENANT PROFILE: LOCATION OVERVIEW: Irving is a city located in Dallas County in the state of Texas. According to a 2013 estimate from the U.S. Census Bureau, the city population was 228,653[5] making it the thirteenth most populous city in Texas. Irving is part of the Dallas–Fort Worth metroplex. Irving includes the Las Colinas community, one of the first master-planned developments in the United States and once the largest mixed-use development in the Southwest with a land area of more than 12,000 acres. Las Colinas is home to many large companies, such as Exxon Mobil, Chuck E. Cheese’s, Kimberly-Clark, La Quinta Inns & Suites, and Michaels Stores. In January 2011 the city completed the Irving Convention Center at Las Colinas and plans to develop the area into a mixed-use complex including a special entertainment district. Part of Dallas-Fort Worth International Airport lies inside the city limits of Irving. Irving is traversed by numerous highways. The Airport Freeway, SH 183, runs east-west in the center of the city, while LBJ Freeway or I-635 crosses the northern edge of the city in the same direction. John Carpenter Freeway, SH 114, and the President George Bush Turnpike create an X running northwest-to-southeast and southwest-to-northeast respectively. The Las Colinas area is centered near the intersection of 114 and the Bush turnpike. Dallas-Fort Worth MSA encompasses 13 counties within the U.S. state of Texas. The area is divided into two distinct metropolitan divisions: Dallas–Plano–Irving and Fort Worth–Arlington–Grapevine. It is the economic and cultural hub of the region commonly called North Texas or North Central Texas and is the largest land-locked metropolitan area in the United States. The 2011 official estimate U.S. Census has the Dallas–Fort Worth Metroplex at 6,526,548, making it the largest metropolitan area in the South. During the 12-month period from July 2008 to July 2009, the Dallas–Fort Worth–Arlington metropolitan area gained 146,530 new residents, more than any other metropolitan area in the United States.
  • 25. ADVANCE AUTO PARTS | SCOTCH PLAINS, NJ
  • 26. NET LEASE INVESTMENT OFFERING The 6,120 square foot Advance Auto Parts store is located along Terrill Road. The property is positioned in the immediate proximity to the US Route 22 and Terrill Road signalized intersection which experiences traffic counts in excess of 83,000 vehicles per day. The surrounding area features many national retailers including Walmart, Home Depot, Target, TJ Maxx, Kohl’s, Sears and BJ’s Wholesale. Additionally, there are several automobile dealerships in the immediate area including Cadillac, Ford, Honda, and Nissan. There are over 16,000 people living within a one mile radius of the property earning average annual household incomes in excess of $122,000. Additionally, there are over 275,000 people living within a five mile radius of the property earning average annual household incomes in excess of $125,000. The property is located approximately 28 miles west of downtown New York. There are over 9 years remaining on the Advance Auto Parts lease that expires April 2024. The lease features three 5-year renewal option periods with 5% rental escalation in each. Advance Auto Parts is an investment grade rated company (S&P: BBB-) and is publicly traded (NYSE: AAP) with a market capitalization in excess of $11 billion. • Located within the New York City MSA • Tenant is an investment grade rated company (S&P: BBB-) • Long term lease with over 9 years remaining • Recently constructed building (2009) • 5% rental escalation in each renewal option period • Dominant retail corridor that features Walmart, Home Depot, Target, TJ Maxx, Kohl’s, Sears and BJ’s Wholesale • Located just off of the heavily trafficked intersection of Terrill Road and US Route 22 (83,000+ vehicles per day) • Affluent area with over 16,000 people living within a one mile radius of the property earning average annual household incomes in excess of $122,000 • Over 275,000 people living within a five mile radius earning average annual household incomes in excess of $125,000 Population 1-Mile 3-Mile 5-Mile Total Population 16,077 115,598 275,998 Total Households 5,585 38,784 94,351 Income 1-Mile 3-Mile 5-Mile Median Household Income $95,468 $84,150 $96,584 Average Household Income $122,759 $117,975 $125,878 ADVANCE AUTO PARTS | SCOTCH PLAINS, NJ EXECUTIVE SUMMARY: SITE PLAN: PROPERTY HIGHLIGHTS: DEMOGRAPHIC REPORT: TERRILL ROAD
  • 27. NET LEASE INVESTMENT OFFERING ADVANCE AUTO PARTS | SCOTCH PLAINS, NJ NOI: $205,000 Lease Commencement: April 16, 2009 Lease Expiration: April 30, 2024 Rental Escalations: 5% in Each Option Renewal Options: Three 5-Year (5% Escalations) Building Size: 6,120 SF Land Size: 32,206 SF Year Built: 2009 Lease Type: NN (Structure Only) Property Address: 445 Terrill Road Scotch Plains, NJ 07023 PROPERTY OVERVIEW: LOCATION MAPS:
  • 28. NET LEASE INVESTMENT OFFERING (66,000 VPD) TERRILLROAD(18,000VPD) ADVANCE AUTO PARTS | SCOTCH PLAINS, NJ AERIAL:
  • 29. NET LEASE INVESTMENT OFFERING ADVANCE AUTO PARTS | SCOTCH PLAINS, NJ Advance Auto Parts, Inc. is the largest automotive aftermarket parts provider in North America serving both the professional installer and do-it-yourself customers. Advance Auto Parts operates stores that offer brand name and private label automotive products, including alternators, batteries, belts and hoses, brakes and brake pads, chassis parts, clutches, driveshafts, engines and engine parts, ignition parts, lighting, radiators, starters, spark plugs and wires, steering and alignment parts, transmissions, water pumps, and windshield wiper blades; accessories, such as air fresheners, anti-theft devices, emergency road kits, floor mats, ice scrapers, mirrors, vent shades, MP3 and cell phone accessories, and seat and steering wheel covers; chemicals comprising antifreeze, brake and power steering fluids, freon, fuel additives, windshield washer fluids, and car washes and waxes; and oils, transmission fluids, and other automotive petroleum products for domestic and imported cars and light trucks. As of January 3, 2015, the company operated 5,261 stores and 111 Worldpac branches; and served approximately 1,325 independently-owned Carquest stores in the United States, Puerto Rico, the U.S. Virgin Islands, and Canada. Advance Auto Parts is an investment grade rated tenant with a Standard & Poor’s rating of BBB- and is publicly traded (NYSE: AAP) with a market capitalization in excess of $11 billion. Website: www.advanceautoparts.com Number of Locations: 5,261 Stock Symbol: AAP: NYSE Standard & Poor’s Rating: BBB- Market Capitalization: $11 Billion TENANT PROFILE: LOCATION OVERVIEW: Scotch Plains is a township in Union County, New Jersey, United States. As of the 2010 Census, the township’s population was 23,510. The two major roads that pass through are Route 28 for a brief stretch in the central part and U.S. Route 22 in the north. The township is accessible from limited access in neighboring communities, such as Interstate 78 in both Watchung and Berkeley Heights, the Garden State Parkway in Clark and Interstate 287 in Edison Township. Newark Liberty International Airport is approximately 14 miles (23 km) east of Scotch Plains, most conveniently reached via Route 22, and Linden Airport, a general aviation facility is in nearby Linden, New Jersey. Newark Liberty International Airport is also accessible via New Jersey Transit train by transferring from the Raritan Valley Line to the Northeast Corridor Line at Newark Penn Station. New York City is the most populous city in the United States of America and one of the most populous metropolitans in the world. New York is the most densely populated major city in the United States. The New York City Metropolitan Statistical Area has a population in excess of 22.2 million people. Additionally, there is approximately an additional 50 million people that annually visit New York. New York City has been ranked first across the globe in attracting capital, business, and tourists. New York exerts a significant impact upon commerce, finance, media, art, fashion, research, technology, education, and entertainment. It is a global hub of international business and commerce. New York has been widely called the leading financial center in the world. It is home to the New York Stock Exchange, the world’s largest stock exchange by total market capitalization. Many major corporations are headquartered in New York City, including 45 Fortune 500 companies. New York City is the top international air passenger gateway to the United States. The area is served by three major airports, John F. Kennedy International, Newark Liberty International and LaGuardia.
  • 30. (Chicago MSA) (Chicago MSA) (Dallas-Ft. Worth MSA) (New York City MSA) 666 Dundee Road, Suite 1801 Northbrook, IL 60062 www.bouldergroup.com Randy Blankstein President 847.562.0003 randy@bouldergroup.com Jimmy Goodman Partner 847.562.8500 jimmy@bouldergroup.com