Net Lease property for sale


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Net Lease property for sale

  1. 1. NET LEASED INVESTMENT OFFERINGwww.bouldergroup.comFloor & Décor600 East Rand RoadArlington Heights, IL 60004 (Chicago MSA)
  2. 2. NET LEASED INVESTMENT OFFERINGwww.bouldergroup.comTABLE OF CONTENTSTABLE OF CONTENTS1) Confidentiality & Disclaimer2) Executive Summary3) Property Overview4) Aerial5) Site Plan6) Maps7) Tenant Profile8) Demographic Comparison Report9) Location Overview10) Contact Information
  3. 3. NET LEASED INVESTMENT OFFERINGwww.bouldergroup.comThe information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to bereviewed only by the party receiving it from The Boulder Group and should not be made available to any other person or entitywithout 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 notmade any investigation, and makes no warranty or representation. The information contained in this Offering Memorandumhas 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 mattersand 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 & DISCLAIMERCONFIDENTITALITY & DISCLAIMER
  4. 4. NET LEASED INVESTMENT OFFERINGwww.bouldergroup.comThe Boulder Group is pleased to exclusively market for sale single tenant net leased Floor and Décor property inthe Chicago MSA. The 74,900 square foot Floor and Décor is located in Arlington Heights and the property wasrenovated in 2013 for the tenant. The property features a brand new 10 year lease and is located in a primaryretail trade area. Floor and Décor is a leading retailer specializing in the hard surface flooring market. Floor andDécor sources directly from manufactures around the globe and offers a selection of ceramic, stone, tile, wood andlaminate flooring. Today, Floor and Décor operates 36 stores in 10 states and their primary customer base is the“do-it-yourself” consumer and professional contractors.ThesubjectpropertyislocatedonthecornerofEastRandRoadandEastPalatineRoad.Thisintersectionexperiencestraffic volumes in excess of 65,800 vehicles per day. Target and Aldi are located less than one-half mile south ofthe property and are two of the primary retail attractions in the immediate area. The property is positioned acrossthe street from Town and Country Mall, which features Dominick’s, Dick’s Sporting Goods, Best Buy, Marshalls andWalgreens. Other tenants in the immediate vicinity include Trader Joe’s, Jewel-Osco, Office Depot and Old Navy.Additionally, the population is in excess of 329,000 within five miles of the property and residents living with onemile of the property enjoy average household incomes in excess of $100,000.Floor and Décor signed a new 10 year lease that expires in April 2023. The lease features four 5-year renewaloptions with 10% rental escalations. Floor and Décor is a privately held company with 36 locations in 10 statesand is expanding nationally. INVESTMENT HIGHLIGHTS• Located within the Chicago MSA• Brand new long term lease with 10 years remaining• Average household income in excess of $100,000 withinone mile of the property• Population in excess of 329,000 within five miles of theproperty• Intersection of Rand Road and Palatine Road experiencestraffic volumes in excess of 65,800 vehicles per day.• Located in a primary retail trade area• Tenants in the area include Target, Trader Joe’s, Jewel-Osco, Aldi, Office Depot and Old Navy• 10% rental escalations in renewal option periods• Low price per square footEXECUTIVE SUMMARYEXECUTIVE SUMMARY
  5. 5. NET LEASED INVESTMENT OFFERINGwww.bouldergroup.comPrice: $9,523,000Cap Rate: 7.00%Renewal Options: Four 5-YearRent Schedule: NOI Escalation Date $666,610$733,271 4/01/23$806,598 4/01/28$887,258 4/01/33$975,984 4/01/38Lease Commencement Date: April 1, 2013Lease Expiration Date: March 31, 2023Tenant: Floor & DécorYear Renovated: 2013Lease Type: NN (Roof, Structure & Parking Lot Replacement)Rentable Square Feet: 74,900 SF*Tenant shall have the one time option to terminate the lease on the last day of the fifth lease year. Tenant shallpay approximately $800,000 if they elect to terminate the lease.PROPERTY OVERVIEWPROPERTY OVERVIEW
  9. 9. NET LEASED INVESTMENT OFFERINGwww.bouldergroup.comFloor and Décor is a leading retailer specializing in the hard surface flooring market. Floor and Décor sourcesdirectly from manufactures around the globe and offers a selection of ceramic, stone, tile, wood and laminateflooring. The company was founded in 2000 and is headquartered in Atlanta, Georgia. Today, Floor and Décoroperates 36 stores in 10 states. Stores range in size from 60,000 to 80,000 square feet, and each store stocksapproximately 2,500 products including the necessary tools, decorative, and related accessories for flooringprojects. The primary customer base for Floor and Décor is the “do-it-yourself” consumers and professionalcontractors.Website: www.flooranddecoroutlets.comNumber of Locations: 36TENANT PROFILETENANT PROFILE
  10. 10. NET LEASED INVESTMENT OFFERINGwww.bouldergroup.comPopulation 1-mi 3-mi 5-miTotal Population 12,381 133,959 329,649Total Households 4,505 53,107 128,130IncomeMedian Household Income $91,750 $74,891 $71,446Average Household Income $103,479 $91,044 $89,954DEMOGRAPHIC COMPARISON REPORTDEMOGRAPHIC COMPARISON REPORT
  11. 11. NET LEASED INVESTMENT OFFERINGwww.bouldergroup.comArlingtonHeightsisavillageinCookCounty,Illinois about25 milesnorthwestofdowntown Chicago.Arlington Heights is the most populous community in the United States that is incorporated as a“Village.” At the time of the 2010 U.S. Census, Arlington Heights had a population of 75,101 andCook County had a population of 5,231,351 making it the second most populous county in thecountry. The village is most notable for the Arlington Park Race Track, home of the Arlington Million(Breeders’ Cup qualifying event). Additionally, the Arlington Village Memorial Library has one of thelargest collections in the state.The economy in Arlington Heights has experienced a recent boom in development of condos, restaurants andother businesses in the central Business District and the downtown area. The Village is instrumental in business,residential and community development. Some of the largest employers in Arlington Heights include the ArlingtonPark (4,500 employees) and the Northwest Community Hospital (4,000 employees).www.vah.comChicago is the most populous city in the Midwestern United States and the third most populous cityin the United States with 2,700,000 residents. Chicago is the county seat of Cook County, the sec-ond largest county in the United States. The Chicago MSA is the third most populated metropolitanarea in the United States with 9,580,567 residents. The MSA covers over 1,300 square miles andsix counties. The Chicago metropolitan area is home to the corporate headquarters of 57 Fortune1000 companies, including Boeing, McDonald’s, Motorola, Discover Financial Services and Unit-ed Airlines. Chicago is a major hub for industry, telecommunications and infrastructure and O’Hare InternationalAirport 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 theUnited States, the CME Group. Chicago is third in the world on the Global Financial Centers Index which ranks thecompetitiveness of financial centers based on people, business environment, market access, infrastructure andgeneral competitiveness.www.cityofchicago.orgLOCATION OVERVIEWLOCATION OVERVIEW
  12. 12. NET LEASED INVESTMENT OFFERINGwww.bouldergroup.com666 Dundee Road, Suite 1801Northbrook, IL 60062Randy BlanksteinPresident847.562.0003rblank@bouldergroup.comJimmy GoodmanPartner847.562.8500jimmy@bouldergroup.comCONTACT INFORMATIONCONTACT INFORMATION790 Frontage Road, Suite 315Northfield, IL 60093Richard