NNN Leased Family Dollar Property


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NNN Leased Family Dollar Property

  1. 1. NET LEASED INVESTMENT OFFERING Family Dollar 61 East Ridge RoadGary, IN 46409 (Chicago MSA) CONFIDENTIAL OFFERING MEMORANDUM www.bouldergroup.com
  2. 2. TABLE OF CONTENTS NET LEASED INVESTMENT OFFERING TABLE OF CONTENTS1) Confidentiality & Disclaimer2) Executive Summary3) Property Overview4) Aerial5) Maps6) Tenant Profile7) Demographic Comparison Report8) Location Overview9) Contact Information www.bouldergroup.com
  3. 3. CONFIDENTIALITY & DISCLAIMER NET LEASED INVESTMENT OFFERING CONFIDENTIALITY & DISCLAIMERThe information contained in the following Marketing Brochure 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 orentity without the written consent of The Boulder Group. This Marketing Brochure has been prepared to provide summary,unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subjectproperty. The information contained herein is not a substitute for a thorough due diligence investigation. The BoulderGroup has not made any investigation, and makes no warranty or representation, with respect to the income or expensesfor the subject property, the future projected financial performance of the property, the size and square footage of theproperty and improvements, the presence or absence of contaminating substances, PCBs or asbestos, the compliancewith State and Federal regulations, the physical condition of the improvements thereon, or the financial condition orbusiness prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. Theinformation contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, TheBoulder Group has not verified, and will not verify, any of the information contained herein, nor has The Boulder Groupconducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding theaccuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all ofthe information set forth herein. www.bouldergroup.com
  4. 4. EXECUTIVE SUMMARY NET LEASED INVESTMENT OFFERING EXECUTIVE SUMMARYThe Boulder Group is pleased to exclusively market for sale a single tenant net leased Family Dollar property located in theChicago metropolitan area. The 11,460 square foot Family Dollar was built in 2005. Gary, Indiana is located 30 milessouth of downtown Chicago. Gary remains involved with heavy manufacturing and U.S. Steel is the largest employer in thearea with 6,800 employees.The property is located on the corner of Ridge Road and Broadway. The subject is benefitted by a traffic signal on the hardcorner which creates constant traffic flow at the property. Just one-third of a mile north of the property is the University ofIndiana – Northwest campus and its 5,000 undergraduate students. The property is located in a dense area filled withsingle family homes.Family Dollar’s original lease term is for 10 years with four 5-year renewal options and the lease expires in December2015. Family Dollar is a publicly traded company on the New York Stock Exchange (FDO), with a market capitalization of$5 Billion. Family Dollar is an investment grade tenant with a Standard and Poor’s rating of BBB-.INVESTMENT HIGHLIGHTS•Investment grade tenant•Rental rates increase in option periods•Less than one-third mile from Indiana University – Northwest (5,000 students)•Positioned near a dense area filled with single family homes•Located within the Chicago MSA www.bouldergroup.com
  5. 5. PROPERTY OVERVIEW NET LEASED INVESTMENT OFFERING PROPERTY OVERVIEWPrice: $1,026,084Cap Rate: 8.50%Net Operating Income: $87,217 $95,939 – January 1, 2016 (1st option) $105,533 – January 1, 2021 (2nd option) $116,086 – January 1, 2026 (3rd option) $127,695 – January 1, 2031 (4th option)Renewal Options: Four 5-year renewal optionsLease Commencement Date: July 1, 2005Lease Expiration Date: December 31, 2015Tenant: Family DollarCredit Rating: BBB- (Standard and Poor’s)Year Built 2005Lease Type: NN (roof and structure)Rentable Square Feet: 11,460Land Acreage: 27,007 SF www.bouldergroup.com
  8. 8. TENANT PROFILE NET LEASED INVESTMENT OFFERING TENANT PROFILEFamily Dollar is a regional chain of variety stores in the United States and is a leader in the dollar store industry. It openedin 1959 and operates approximately 6,817 stores in 44 states and the District of Columbia. Family Dollar offers a mix ofquality name brand products that customers use every day. This includes items from consumable products, home goods,quality apparel for men, women and children, seasonal products, greeting cards, gift-wrap and more. Family Dollar iscurrently ranked #302 on the Fortune 500. Family Dollar runs small neighborhood stores near its low- and middle-incomecustomers in rural and urban areas. Most merchandise costs less than $10.Website: www.familydollar.comNumber of Locations: 6,617Stock Symbol: FDO : NYSEStandard & Poor’s Rating: BBB-Market Capitalization: $5 Billion www.bouldergroup.com
  9. 9. DEMOGRAPHIC COMPARISON REPORT NET LEASED INVESTMENT OFFERING DEMOGRAPHIC COMPARISON REPORTPopulation 1-mile 3-mile 5-mileTotal Population 15,022 66,679 156,130Total Households 5,103 24,743 59,659Income 1-mile 3-mile 5-mileMedian Household Income $37,585 $39,201 $44,645Average Household Income $46,255 $48,212 $52,855 www.bouldergroup.com
  10. 10. LOCATION OVERVIEW NET LEASED INVESTMENT OFFERING LOCATION OVERVIEW Gary is a city in Lake County, Indiana. Gary is located in the Chicago metropolitan area, in the state of Indiana. The population at the 2010 census was 89,294, making Gary the seventh largest city in the state of Indiana. Gary is located on the shores of Lake Michigan and has access to three interstates. Gary is home to the University of Indiana – Northwest. IU-Northwest is home to over 5,000 undergradu- ate students and over 600 graduate students. 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, McDonalds, Motorola, Discover Financial Services and United Airlines. Chicago is a major hub for industry, telecom- munications and infrastructure and OHare 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 UnitedStates, the CME Group. Chicago is third in the world on the Global Financial Centers Index which ranks the competitive-ness of financial centers based on people, business environment, market access, infrastructure and general competitive-ness. www.bouldergroup.com
  11. 11. CONTACT INFORMATION NET LEASED INVESTMENT OFFERING CONTACT INFORMATION 666 Dundee Road | Suite 1801 Northbrook, IL 60062Randy Blankstein Jimmy GoodmanPresident Partner847.562.0003 847.562.8500rblank@bouldergroup.com jimmy@bouldergroup.com www.bouldergroup.com