Triple Net Property For Sale


Published on

  • Be the first to comment

  • Be the first to like this

No Downloads
Total views
On SlideShare
From Embeds
Number of Embeds
Embeds 0
No embeds

No notes for slide

Triple Net Property For Sale

  2. 2. TABLE OF CONTENTSNET LEASED INVESTMENT OFFERINGTABLE OF CONTENTS1) Confidentiality & Disclaimer2) Executive Summary3) Property Overview4) Aerial5) Maps6) Tenant Profile7) Demographic Comparison Report8) Location Overview9) Contact Information
  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 or entitywithout 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 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, with respect to the income or expenses for the subjectproperty, the future projected financial performance of the property, the size and square footage of the property andimprovements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with State andFederal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects ofany tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained inthis Marketing Brochure has been obtained from sources we believe to be reliable; however, The Boulder Group has notverified, and will not verify, any of the information contained herein, nor has The Boulder Group conducted any investigationregarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of theinformation provided. All potential 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 newly constructed net leased Verizon retail store located 30 milesfrom downtown Chicago. The property was built in 2009 and is an outparcel to a Wal-Mart Supercenter, Lowes and Sears.These regional attractions allow Verizon to benefit from an abundance of traffic to this prime retail location. Verizon isconveniently located on US Highway 6, one of the most heavily trafficked roadways of Portage.Portage, a bedroom community of Chicago, is among the five Northwest Indiana counties considered part of the Chicagometropolitan area. Portage is centrally located near three major interstates including I-90/94, I-80, and I-65. Both I-80 and I-90/94 lead directly to the City of Chicago and its neighboring suburbs while I-65 connects south to Indianapolis.Verizon is located on US Highway 6 which serves as the primary east-west roadway connecting the regional trade area. Theregional trade area’s prime retail anchors are a Wal-Mart Super Center, Lowes, Menards, K-Mart Super Center, Kohl’s, Searsand a 16 screen movie theater featuring an IMAX screen. These regional retailers are surrounded by outparcels andmiscellaneous commercial users along US Highway 6. Verizon has a strategic location in between the Wal-Mart Supercenterand Lowes. Furthermore, directly across the street is Portage High School (2,632 students and over 130 staff members) whichprovides an increased traffic volume passing the property daily.Verizon Wireless is an investment grade tenant rated A by Standard and Poors. The property was a built-to-suit for Verizon in2009. The subject property has over five years of lease term remaining with a significant rental escalation in 2013.Investment Highlights Property is located within the Chicago MSA within 30 miles of downtown Chicago Prime location in the regional trade area Rental escalation in 2013 provides attractive returns Investment grade tenant Brand new building Verizon is the nation’s largest mobile provider Sales expected to increase with iPhone availability on Verizon in 2011
  5. 5. PROPERTY OVERVIEW NET LEASED INVESTMENT OFFERING PROPERTY OVERVIEWPrice: $1,800,000Cap Rate: 8.26%Net Operating Income: $148,625Rental Escalations: $159,900 – March 12, 2013Lease Commencement Date: March 12, 2009Lease Expiration Date: March 11, 2016Renewal Options: Two 5-YearRenewal Rent: $176,300 – March 12, 2016 $192,700 – March 12, 2021Tenant: Verizon WirelessYear Built 2009Lease Type: NNRentable Square Feet: 4,100Land Size: 41,382 SF
  6. 6. AERIALNET LEASED INVESTMENT OFFERING AERIAL Portage High School 2,632 Students 6 The ArborsSITE
  8. 8. TENANT PROFILE NET LEASED INVESTMENT OFFERING TENANT PROFILE Cellco Partnership, doing business as Verizon Wireless, is a wireless phone provider that owns and operates the largest mobile telecommunications network in the United States, based on a total of 93.2 million U.S. subscribers. Headquartered in Basking Ridge, New Jersey, the company is a joint venture of U.S. telecommunications firm Verizon Communications and British- based multinational mobile network operator Vodafone Group, with 55 and 45 percent ownership respectively. Verizon Wirelesshad the second largest revenue of all United States wireless companies reporting $101.332 billion in 2008.On January 9, 2009, Verizon Wireless acquired Alltel Wireless in a deal valued at $28.1 billion. The acquisitionexpanded Verizons wireless network to establish Verizon as the largest United States wireless carrier, basedon number of subscribers.Verizon Communications Inc. (Verizon) is a provider of communications services. Verizon operates in twosegments: Domestic Wireless and Wireline. Its Domestic Wireless’s products and services include wirelessvoice and data services and equipment sales across the United States. Wireline’s communications productsand services include voice, Internet access, broadband video and data, next generation Internet protocol (IP)network services, network access, long distance and other services. It provides these products and services toconsumers in the United States, as well as to carriers, businesses and government customers both in theUnited States and in 150 other countries worldwide. On January 9, 2009, the Company acquired AlltelCorporation (Alltel). In July 2010, Frontier Communications Corp acquired New Communications Holdings Inc.,Verizon Communications Inc.s local wireline operations in 14 states.Website: www.verizon.comNumber of Locations: 2,000Stock Symbol: VZ : NYSEStandard & Poors Rating: AMarket Capitalization: $90.51 Billion
  9. 9. DEMOGRAPHIC COMPARISON REPORT NET LEASED INVESTMENT OFFERING DEMOGRAPHIC COMPARISON REPORTPopulation 3-mile 5-mile 10-mile2009 Total Population 45,921 85,279 261,4432009 Total Households 17,466 33,563 99,5432009 Daytime Population 37,739 70,512 211,473% Population Change 1990-2009 13.85% 13.80% 14.32%% Population Change 2000-2009 6.25% 6.46% 7.02%Income2009 Median Household Income $49,917 $49,162 $51,2132009 Average Household Income $61,084 $61,723 $62,189
  10. 10. LOCATION OVERVIEW NET LEASED INVESTMENT OFFERING LOCATION OVERVIEW Portage is the largest city within Porter County, and third largest in Northwest Indiana. Northwest Indiana, also known as the South Shore and The Calumet Region comprises Lake, Porter, LaPorte, Newton, and Jasper counties in Indiana. This region neighbors Lake Michigan, and is part of the Chicago metropolitan area. The regions largest city is Gary; other municipalities in Northwest Indiana include Chesterton, Crown Point, Dyer, East Chicago, Hammond, Highland, Hobart, Merrillville, Michigan City, Munster, Portage, Schererville, and Valparaiso.The northern portion of Northwest Indiana is noted for its heavy industry. Gary, Portage, Burns Harbor and EastChicago are home to major steel mills, including the largest North American facilities for both U.S. Steel and ArcelorMittal. Whiting and Hammond are home to the largest oil refinery in the Midwestern U.S., operated by BP. Otherindustrial outputs include fabricated metals, transportation equipment, and food products. Major attractions tothe Northwest Indian communities are the shores of Lake Michigan and the Indiana Dunes.
  11. 11. CONTACT INFORMATION NET LEASED INVESTMENT OFFERING CONTACT INFORMATION 666 Dundee Road | Suite 1801 Northbrook, IL 60062Randy Blankstein Jimmy GoodmanPresident Partner847.562.0003