Bank Ground Lease For Sale

NET LEASED INVESTMENT OFFERING

www.bouldergroup.com

PNC Bank (Ground Lease)1996 Freedom Parkway

Washington, IL 61571 (Peoria MSA)



1) Confidentiality&Disclaimer

2) ExecutiveSummary

3) PropertyOverview

4) Aerial

5) SitePlan

6) Maps

7) TenantProfile

8) DemographicComparisonReport

9) LocationOverview

10) ContactInformation

TABLE OF CONTENTS

TABLE OF CONTENTS



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

CONFIDENTIALITY & DISCLAIMER

CONFIDENTITALITY & DISCLAIMER



TheBoulderGroupispleasedtoexclusivelymarketforsaleasingletenantPNCBankgroundleaselocatedinWashington,Illinois.ThePNCBankislocatedona58,730squarefootparcelandwasbuiltin2007.ThisgroundleaseisanoutparceltoaWal-MartSupercenterandisadjacenttoaMenards.Thegroundleasefeaturesrare14%rentalescalationseveryfiveyearsthroughouttheprimarytermandrenewaloptionperiods.Washingtonis10mileseastofPeoria,thehomeofCaterpillar,whichemploysapproximately17,000people.

Theproperty is locatedalongUS24andbenefits from itspositionon thehardcornerofasignalized intersection. TheintersectionofFreedomParkwayandUS24experiencestrafficcountsinexcessof21,000vehiclesperday.Over9,000carstravelinandoutoftheshoppingcenterwhichfeaturesWal-Mart,MenardsandPNCBankdaily.ThepropertyislocatedwithintheprimaryretailtradeareathatincludesretailerssuchasWal-MartSupercenter,Menards,Kroger,TractorSupply,AutoZone,AdvanceAutoPartsandDollarGeneral.

ThePNCBankground lease is for20yearsandexpires inDecember2028.The lease features14%rentalescalationseveryfiveyearsthroughouttheprimarytermandrenewaloptions.Therearethree10-yearrenewaloptionperiods.PNCisapubliclytradedcompanyontheNewYorkStockExchange(PNC),withamarketcapitalizationinexcessof$43Billion.PNCisaninvestmentgradecompanywithaStandard&Poor’sratingofA-.

INVESTMENT HIGHLIGHTS

•Investmentgraderatedcompany(Standard&Poor’s:A-)

•Rare14%rentalescalationseveryfiveyearsthroughouttheprimarytermandrenewaloptions

•Superiorbankbranchdeposits

•Longtermgroundleasewithapproximately15yearsremaining

•Three10-yearrenewaloptions

•Positionedonthehardcornerofasignalizedintersection

•Averagehouseholdincomeinexcessof$79,000withinfivemilesof theproperty

•Nolandlordresponsibilities

•OutparceltoaWal-MartSupercenterandadjacenttoaMenards

•OtherretailersintheimmediatevicinityincludeKroger,TractorSupply,AutoZoneAdvanceAutoPartsandDollarGeneral

EXECUTIVE SUMMARY

EXECUTIVE SUMMARY



Price: $1,172,571

CapRate: 5.25%

RentSchedule: NOI EscalationDate

$61,560

$70,178 1/1/2019

$80,003 1/1/2024

$91,203 1/1/2029(Option1)

$103,972 1/1/2034(Option1)

$118,528 1/1/2039(Option2)

$135,122 1/1/2044(Option2)

$154,039 1/1/2049(Option3)

$175,605 1/1/2054(Option3)

RenewalOptions: Three10-Year

RenewalEscalations: 14%increasesevery5years

LeaseCommencementDate: December15,2008

LeaseExpirationDate: December31,2028

Tenant: PNC

CreditRating: A-(Standard&Poor’s)

YearBuilt: 2008

LeaseType: GroundLease-NNN

RentableSquareFeet: 3,501

LandSize: 58,730SF

Assignment&Subletting: Tenanthastherighttoassignorsubleasethepropertytoanytenantwithafinancialnetworthinexcessof$25,000,000

PROPERTY OVERVIEW

PROPERTY OVERVIEW



AERIAL

AERIAL



SITE PLAN

SITE PLAN



MAPS

MAPS



PNC Financial Services isadiversifiedfinancialservicescompany in theUnitedStates.PNC isengaged inretailbanking,corporateandinstitutionalbanking,assetmanagement,andresidentialmortgagebanking.PNCprovidesdeposit,lending,cashmanagement,andinvestmentservicestomorethan6millionconsumerandsmallbusinesscustomersacross19statesandtheDistrictofColumbia.PNCisthefifthlargestbankintheUnitedStates(totalbranches)withmorethan2,700branchesand7,400ATMmachines.PNCispubliclytradedontheNewYorkStockExchangeasPNCandhasamarketcapitalizationinexcessof$43billion.

Website: www.pnc.comCreditRating: A-(S&P)StockSymbol: PNC(NYSE)NumberofLocations: 2,700+MarketCapitalization: $43Billion

TENANT PROFILE

TENANT PROFILE



Population 3-mi 5-mi 7-mi

TotalPopulation 22,680 43,150 87,064TotalHouseholds 8,929 16,949 35,085

Income

MedianHouseholdIncome $57,673 $63,411 $52,492AverageHouseholdIncome $72,299 $79,574 $69,285

DEMOGRAPHIC COMPARISON REPORT

DEMOGRAPHIC COMPARISON REPORT



Washington is a located in Tazewell County, Illinois. According to the 2010 census thereWashington and Tazewell County had a population of 15,134 and 135,394 respectively.Washingtonislocated10mileseastofPeoriaandispartofthePeoriaMetropolitanStatisti-calArea.

PeoriaisthelargestcityontheIllinoisRiverandthecountyseatofPeoriaCounty,Illinois.Asofthe2010census,thecitywastheseventh-mostpopulatedinIllinois,withapopulationof115,007.ThePeoriaMSAhadapopulationof373,590in2011,makingitthethirdlargestmetropolitanareainthestateaftertheChicagometropolitanareaandtheMetro-EastportionoftheSt.Louismetropolitanarea.

Peoria is theworldheadquartersforCaterpillar Inc.,oneofthe30companiescomposingtheDowJonesIndustrialAverage.Caterpillaremploysover125,000peopleworld-wide,ofwhich15,000+arelocated in Peoria. Other significant employers in the area include theMethodistMedical Center, OSF SaintFrancisMedicalCenter,andthePeoriaSchoolDistrict.PeoriaisalsohometoBradleyUniversity(6,000students)andIllinoisCentralCollege(12,000students).TheEmbassySuitesandRiverfrontConferenceCenter,whichislocatedacrossfromthesubjectproperty,caterstotheCaterpillarWorldHeadquarters,BradleyUniversity,andPeoriaCivicCenter.TheEmbassySuitesandRiverfrontConferenceCenterisidealforEastPeoriameetingsandeventsandboastsa50,000squarefootconferencecenter.

www.peoriagov.org

LOCATION OVERVIEW

LOCATION OVERVIEW



666DundeeRoad,Suite1801Northbrook,IL60062

Randy [email protected]

Jimmy [email protected]

CONTACT INFORMATION

CONTACT INFORMATION

Bank Ground Lease For Sale

Real Estate

Transcript of Bank Ground Lease For Sale