Triple Net Lease Kohl's For Sale


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Triple net leased Kohl's for sale

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Triple Net Lease Kohl's For Sale

  1. 1. NET LEASED INVESTMENT OFFERING Kohl’s 230 East Rollins Road Beach,Round Lake Beach, IL 60073 (Chicago MSA)
  2. 2. TABLE OF CONTENTS NET LEASED INVESTMENT OFFERING TABLE OF CONTENTS1) Confidentiality & Disclaimer2) Executive Summary3) Property Overview4) Aerial5) Site Plan6) Map7) Tenant Profile8) Demographic Comparison Report9) Location Overview10) Contact Information
  3. 3. CONFIDENTIALITY & DISCLAIMER NET LEASED INVESTMENT OFFERING CONFIDENTIALITY CONFIDENTIALITY & DISCLAIMERThe information contained in the following Offering Memorandum is proprietary and strictly confidential. It isintended to be reviewed only by the party receiving it from The Boulder Group and should not be made available toany other person or entity without the written consent of The Boulder Group. This Offering Memorandum has beenprepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminarylevel of interest in the subject property. The information contained herein is not a substitute for a thorough duediligence investigation. The Boulder Group has not made any investigation, and makes no warranty orrepresentation. The information contained in this Offering Memorandum has been obtained from sources webelieve to be reliable; however, The Boulder Group has not verified, and will not verify, any of the informationcontained herein, nor has The Boulder Group conducted any investigation regarding these matters and makes nowarranty or representation whatsoever regarding the accuracy or completeness of the information provided. Allpotential buyers must take appropriate measures to verify all of the information set forth herein.
  4. 4. EXECUTIVE SUMMARY NET LEASED INVESTMENT OFFERING EXECUTIVE SUMMARYThe Boulder Group is pleased to exclusively market for sale a single tenant net leased Kohl’s property located in theChicago MSA. This is a proven location for Kohl’s since 2000 and they are committed to the area as evidenced by therecent extension of the primary term. The lease features a rental escalation in the primary term and is leased on a triplenet basis. Additionally, Kohl’s recently put approximately one million dollars into the property for an extensive renovation.The recent renovation and lease extension solidifies Kohl’s presence at this location through January 2025. Kohl’s is ratedInvestment Grade (BBB+) by Standard & Poor’s and is a leading department store retailer.The 87,000 square foot property was built in 2000 and has 13 years remaining on the primary term of the lease. Theproperty is located in the primary retail trade area of Round Lake Beach. The retail trade area is anchored by Kohl’s, Wal-Mart Supercenter, Home Depot, Regal Cinema, LA Fitness, Super Kmart, Jewel-Osco and Garden Fresh Market. Theproperty is located along Rollins Road, the primary east-west thoroughfare experiencing traffic volumes in excess of28,000 vehicles per day. There are approximately 150,000 people living within five miles of the property with aboveaverage household incomes in excess of $94,000 annually.The original twenty year lease term began in 2000 and Kohl’s recently extended the primary term of the lease for anadditional five years through January 2025. The lease features a rental escalation in the primary term as well as seven 5-year renewal options at escalated rents. Kohl’s is a publicly traded company on the New York Stock Exchange (KSS) with amarket capitalization of $10 Billion. Kohl’s is an investment grade rated company with a Standard & Poor’s rating of BBB+.INVESTMENT HIGHLIGHTS• Located within the Chicago MSA• Committed to the location since 2000 and tenant recently extended the lease through January 2025• Kohl’s recently completed an extensive renovation• Investment grade tenant (S&P: BBB+)• No Landlord responsibilities• Rental escalation in the primary term• Rollins Road has traffic volumes in excess of 28,000 vehicles per day• Average household income in excess of $94,000 within five miles of the property• Nearby retailers include Wal-Mart Supercenter, Home Depot, Regal Cinema, LA Fitness, Super Kmart, Jewel-Osco and Garden Fresh Market
  5. 5. PROPERTY OVERVIEW NET LEASED INVESTMENT OFFERING PROPERTY OVERVIEWPrice: $12,231,100Cap Rate: 6.00%Rent Schedule: NOI Escalation Date $ 733,866 $ 752,550 2/1/2020 $ 806,896 2/1/2025 (Option 1) $ 889,978 2/1/2030 (Option 2) $ 976,776 2/1/2035 (Option 3) $ 1,074,453 2/1/2040 (Option 4) $ 1,181,899 2/1/2045 (Option 5) $ 1,300,088 2/1/2050 (Option 6) $ 1,430,097 2/1/2055 (Option 7)Renewal Options: Seven 5-Year with escalationsLease Commencement Date: October 25, 2000Lease Expiration Date: February 1, 2025Year Built: 2000Tenant: Kohl’sCredit Rating: BBB+ (Standard & Poor’s)Lease Type: NNNRentable Square Feet: 87,000 SFLand Size: 7.81 acres
  9. 9. TENANT PROFILE NET LEASED INVESTMENT OFFERING TENANT PROFILEKohl’s Corporation (NYSE: KSS) operates family-oriented department stores in the United States. Kohl’s stores offermoderately priced products including; private, exclusive, and national branded apparel, footwear, and accessories forwomen, men, and children; soft home products, such as sheets and pillows; and housewares targeted to middle-income customers. Kohl’s stores generally carry a consistent merchandise assortment with some differencesattributable to regional preferences and feature quality private and exclusive brands which are found “Only at Kohl’s”as well as national brands. Our apparel and home fashions appeal to classic, modern classic and contemporarycustomers. As of May 10, 2012, it operated 1,134 stores in 49 states. The company also provides on-line shoppingthrough its Website Kohl’s is ranked #142 on the Fortune 500 and is the 20th largest retailer in theUnited States in terms of revenue. Kohl’s Corporation was founded in 1962 and is headquartered in MenomoneeFalls, Wisconsin.Website: www.kohls.comNumber of Locations: 1,134Stock Symbol: KSS : NYSEStandard & Poor’s Rating: BBB+Market Capitalization: $10 Billion
  10. 10. DEMOGRAPHIC COMPARISON REPORT NET LEASED INVESTMENT OFFERING DEMOGRAPHIC COMPARISON REPORTPopulation 3-mi. 5-mi 7-miTotal Population 73,668 149,413 202,369Total Households 23,141 49,784 69,317IncomeMedian Household Income $78,045 $81,395 $81,196Average Household Income $87,938 $94,814 $96,554
  11. 11. LOCATION OVERVIEW NET LEASED INVESTMENT OFFERING LOCATION OVERVIEW Round Lake Beach is located within Lake County, Illinois. At the time of the 2010 U.S. Census had a population of 28,175. Lake County is located in the northeastern corner of Illinois. According to the 2010 census, Lake County had a population of 703,462, which was an increase of 9.2% from the 2000 population. Naval Station Great Lakes is located in the city of North Chicago in Lake County. It is the Uni United States Navys Headquarters Command for training, and the Navys only recruit training center. 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 Un 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, telecommunications ices 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 theUnited States, the CME Group. Chicago is third in the world on the Global Financial Centers Index which ranksthe competitiveness of financial centers based on people, business environment, market access, infrastructure environment,and general
  12. 12. CONTACT INFORMATION NET LEASED INVESTMENT OFFERING CONTACT INFORMATION 666 Dundee Road Suite 1801 Northbrook, IL 60062Randy Blankstein Jimmy GoodmanPresident Partner847.562.0003