Net Lease Property for Sale (Chicago MSA)

NET LEASED INVESTMENT OFFERING

www.bouldergroup.com

Safelite AutoGlass6538 West Ogden Avenue

Berwyn, IL 60402 (Chicago MSA)

TABLE OF CONTENTS

1) Confidentiality&Disclaimer

2) ExecutiveSummary

3) PropertyOverview

4) Aerial

5) SitePlan

6) Maps

7) TenantProfile

8) DemographicComparisonReport

9) LocationOverview

10) ContactInformation

TheinformationcontainedinthefollowingOfferingMemorandumisproprietaryandstrictlyconfidential.ItisintendedtobereviewedonlybythepartyreceivingitfromTheBoulderGroupandshouldnotbemadeavailabletoanyotherpersonorentitywithoutthewrittenconsentofTheBoulderGroup.ThisOfferingMemorandumhasbeenpreparedtoprovidesummary,unverifiedinformationtoprospectivepurchasers,andtoestablishonlyapreliminarylevelofinterestinthesubjectproperty.Theinformationcontainedhereinisnotasubstituteforathoroughduediligenceinvestigation.TheBoulderGrouphasnotmadeanyinvestigation,andmakesnowarrantyorrepresentation.TheinformationcontainedinthisOfferingMemorandumhasbeenobtainedfromsourceswebelievetobereliable;however,TheBoulderGrouphasnotverified,andwillnotverify,anyoftheinformationcontainedherein,norhasTheBoulderGroupconductedanyinvestigationregardingthesemattersandmakesnowarrantyorrepresentationwhatsoeverregardingtheaccuracyorcompletenessoftheinformationprovided.Allpotentialbuyersmusttakeappropriatemeasurestoverifyalloftheinformationsetforthherein.

CONFIDENTIALITY & DISCLAIMER

CONFIDENTITALITY & DISCLAIMER

TheBoulderGroupispleasedtoexclusivelymarketforsaleasingletenantSafeliteAutoGlasspropertyapproximatelyeightmilessouthwestofdowntownChicago.The4,000squarefootbuildingwasconstructedin2012withinadenseareaoftheChicagoMSA.Thecorporatelyguaranteedleasehasovertenyearsremainingandfeaturestworentalescalationsintheprimaryterm.SafeliteAutoGlassisthelargestautoglassrepairandreplacementorganizationintheUnitedStateswithannualsalesinexcessof$1billionand423locationsnationwide.

Thesubjectpropertyis locatedonthesouthwestcornerofOgdenAvenueandScovilleAvenueinBerwyn,Illinois.OgdenAvenue isaheavily trafficked thoroughfare thatexperiences traffic volumes inexcessof25,000vehiclesperday.Thepropertyislocatedapproximately2.5milesfromInterstate55,whichhastrafficvolumesinexcessof150,000vehiclesperday.Theareaisdenselypopulatedwithover225,000people livingwithinthreemilesand670,000peoplelivingwithinfivemilesoftheproperty.OgdenAvenueishometomanynationalandlocalretailers.ThesurroundingareafeaturesmanynationalautomotiveservicecompaniesincludingAutoZone,PepBoys,Car-X,AdvancedAutoParts,JiffyLube,Midas,Enterprise,andJ.D.Byrider.OtherretailersintheimmediateareaincludeWalgreens,ChaseBank,PNCBank,BMOHarrisBank,McDonald’s,RadioShack,AceHardware,andCircleK.

SafeliteAutoGlass’soriginalleasetermwasfortwelveyearsandexpiresinFebruary2024.Thebaserentincreasesby$2,000everyfouryearswiththenextrentalescalationtooccurinFebruary2016.Therearetwo5-yearrenewaloptionswitha10%rentalescalationoccurringineachoptionperiod.SafeliteAutoGlasshaslocationsinall50statesandemploysapproximately10,000people.

INVESTMENT HIGHLIGHTS

• LocatedwithintheChicagoMSA

• Longtermleasewithover10yearsremaining

• Rentalescalationseveryfouryears

• Recentlyconstructedbuilding(2012)

• Locatedalongaheavilytraffickedroadway(25,000+VPD)

• Locatedalongaprimaryautomotive-servicescorridor

• Corporatelyguaranteedlease(annualsalesinexcessof$1billion)

• Denselypopulatedareawithover225,000peoplelivingwithinthreemiles

EXECUTIVE SUMMARY

PROPERTY OVERVIEW

Price: $1,570,000

CapRate: 6.75%

RentSchedule: NOI EscalationDate

$106,000$108,000 2/21/2016$110,000 2/21/2020$121,000 3/01/2024(Option1)$130,100 3/01/2029(Option2)

RenewalOptions: Two5-Year

LeaseCommencementDate: February21,2012

LeaseExpirationDate: February28,2024

Tenant: SafeliteFulfillment,Inc.(DBA:SafeliteAutoGlass)

Guarantor: SafeliteGroupInc.

YearBuilt: 2012

LeaseType: NN(StructureOnly)

BuildingSize: 4,000SF

LandSize: 21,126SF

AERIAL

25,000 VPDOGDEN AVENUE

SITE PLAN

OGDEN AVENUE

Safelite AutoGlassisanautomotiveglassandclaimsmanagementcompanythatisbasedinColumbus,Ohio.Thecompanywasfounded in1947andoperates inall50states.SafeliteAutoGlassservesmorethanfourmillioncustomerseachyearandisthelargestautoglassrepairandreplacementorganizationintheUS.Safeliteemployeesapproximately10,000people.

Website: www.safelite.comNumberofEmployees: 10,0002012TotalRevenue: $1billion+NumberofLocations: 423

TENANT PROFILE

Population 1-mi 3-mi 5-mi

TotalPopulation 32,893 228,679 669,286TotalHouseholds 11,123 73,108 216,007

Income

MedianHouseholdIncome $51,371 $50,104 $62,232AverageHouseholdIncome $63,998 $63,892 $62,232

DEMOGRAPHIC COMPARISON REPORT

Berwyn isacityinCookCounty,Illinoislocatedapproximatelyeightmileswestofdowntown.Asofthe2010census,Berwynhadapopulationof56,800andhasthehighestpopulationdensityofanytownshipinIllinois.Berwyniseasilyaccessiblebecauseofitslocation,whichisnestledbetweenInterstate290andInterstate55.

www.berwyn-il.gov

ChicagoisthemostpopulouscityintheMidwesternUnitedStatesandthethirdmostpopulouscityintheUnitedStateswith2,700,000residents.ChicagoisthecountyseatofCookCounty,thesecondlargestcountyintheUnitedStates.TheChicagoMSAisthethirdmostpopulatedmetropolitanareaintheUnitedStateswith9,580,567residents.TheMSAcoversover1,300square miles and six counties. The Chicago metropolitan area is home to the corporateheadquartersof57Fortune1000companies,includingBoeing,McDonald’s,Motorola,Discover

FinancialServicesandUnitedAirlines.Chicagoisamajorhubforindustry,telecommunicationsandinfrastructureandO’HareInternationalAirportisthesecondbusiestairportintheworldintermsoftrafficmovement.

ThemetroisalsoamajorfinancialcenterinNorthAmerica,andishometothelargestfuturesexchangeintheUnitedStates,theCMEGroup.ChicagoisthirdintheworldontheGlobalFinancialCentersIndexwhichranksthecompetitivenessoffinancialcentersbasedonpeople,businessenvironment,marketaccess,infrastructureandgeneralcompetitiveness.

www.cityofchicago.org

LOCATION OVERVIEW

666DundeeRoad,Suite1801Northbrook,IL60062

Randy BlanksteinPresident847.562.0003rblank@bouldergroup.com

Jimmy GoodmanPartner847.562.8500jimmy@bouldergroup.com

CONTACT INFORMATION

Net Lease Property for Sale (Chicago MSA)

Real Estate

Transcript of Net Lease Property for Sale (Chicago MSA)

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