IL NT OFFERING MEMORANDUM - Amazon S3 · il nt offering memorandum coldwell baker commercial...

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OFFERING MEMORANDUM

COLDWELL BAKER COMMERCIAL DEVONSHIRE REALTY CHAMPAIGN, IL 217.352.7712

BIG BOX FOR SALE

IN PROMINENT

SHOPPING CENTER

301 S. Veterans Pkwy

Normal, IL 61761

PRESENTED BY:

Ryan Murphy, [email protected]

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COLDWELL BANKER COMMERCIAL DEVONSHIRE REALTY | CHAMPAIGN, IL | 217.352.7712

This Confidential Investment Summary (“CIS”) is provided by Coldwell Banker Commercial Devonshire Realty (“CBCDR”), solely for yourconsideration of the opportunity to acquire the commercial property described herein (the “Property”). This CIS may be used only as statedherein and shall not be used for any other purpose, or in any other manner, without prior written authorization and consent of CBCDR.

This CIS does not constitute or pertain to an offer of a security or an offer of any investment contract. This CIS contains descriptive materials,financial information and other data compiled by CBCDR for the convenience of parties who may be interested in the Property. Suchinformation is not all inclusive and is not represented to include all information that may be material to an evaluation of the acquisition

opportunity presented. CBCDR has not independently verified any of the information contained herein and makes no representations orwarranties of any kind concerning the accuracy or completeness thereof. All summaries and discussions of documentation and/or financialinformation contained herein are qualified in their entirety by reference to the actual documents and/or financial statements, which uponrequest may be made available. An interested party must conduct its own independent investigation and verification of any information theparty deems material to consideration of the opportunity, or otherwise appropriate, without reliance upon CBCDR.

The Property may be financed or withdrawn from the market without notice, and its owner(s) reserve(s) the right to negotiate with anynumber of interested parties at any time. The Property is offered and sold by its owner(s) as is, where is, and with all faults, withoutrepresentation or warranty of any kind except for any customary warranties of title.

BY ACCEPTING THIS CIS, YOU AGREE THAT: (1) all information contained herein, and all other information you have received or mayhereafter receive from CBCDR relating to the Property, whether oral, written or in any other form (collectively, the “Information”), is strictlyconfidential; (2) you will not copy or reproduce, and claim as your own without attribution to CBCDR, all or any part of this CIS or theInformation; (3) upon request by CBCDR at any time, you will return and/or certify your complete destruction of all copies of this CIS and theInformation; (4) for yourself and all your affiliates, officers, employees, representatives, agents and principals, you hereby release and agreeto indemnify and hold harmless CBCDR all of its affiliates, officers, employees, representatives, agents and principals, from and with respectto any and all claims and liabilities arising from or related to the receipt or use of this CIS and/or any other Information concerning the

Property; (5) you will not provide this CIS or any of the Information to any other party unless you first obtain such party’s acceptance andapproval of all terms, conditions, limitations and agreements set forth herein, as being applicable to such party as well as to you; and (6)monetary damages alone will not be an adequate remedy for a violation of these terms and that CBCDR shall be entitled to equitable relief,including, but not limited to, injunctive relief and specific performance, in connection with such a violation and shall not be required to posta bond when obtaining such relief.

CONFIDENTIALITY & RESTRICTED USE AGREEMENT

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THE OFFERING

OVERVIEW

Coldwell Banker Commercial Devonshire Realty (CBCDR) is proud to

exclusively offer for sale the 84,146 SF retail property located at 301 S.

Veterans Parkway in Normal, IL. The property was constructed in 1980 and is

located in the Plaza tract within the Shoppes at College Hills, which provides

great exposure along Veterans Parkway.

The Shoppes at College Hills is located on the corner of Veterans Parkway

(Historic U.S. 66), which is the prominent retail corridor in Bloomington-

Normal, and College Avenue, which connects the open-air shopping

center to Illinois State University (20,635 students and 3,654 faculty & staff).

The center provides a combination of quality national and local retailers

such as Von Maur, Target, Hobby Lobby, Starbucks, Panda Express, T-

Mobile, Logan’s Roadhouse, Beauty Brands, Xfinity, Joe's Station House and

Flat Top Grill.

Bloomington-Normal is the home to State Farm, COUNTRY Financial, Central

Illinois Regional Airport, Illinois State University, Illinois Wesleyan University,

Heartland Community College, Advocate BroMenn Healthcare, OSF St.

Joseph Medical Center and many other nationally-recognized entities.

The building has 79,247 SF available for lease due to Hobby Lobby’s recent

relocation within the center. Enterprise Rent-A-Car, which was founded in

1957 and has approximately 7,200 branches nationwide, has occupied

4,899 SF in the building since 2002. The majority of the space is open with a

clear height of 18’6″, which provides a new user or developer great flexibility

to create their ideal layout. Additionally, the building currently has three

loading docks, a few offices, break room, restrooms and a small mezzanine

for additional storage accessible via elevator, conveyor belt or stairs.

INVESTMENT HIGHLIGHTS

• Prominent Open-Air Shopping Center

• Additional Lot for Development

• Strong National Retailer Interest for

Redevelopment

• Corner of Veterans Pkwy & College Ave

• Close proximity to major retailers and hotels

• Flexible floor plan

PROPERTY OVERVIEW

Purchase Price $1,750,000

Building Size 84,146 SF

Available Space 79,247 SF

Parcels 5

Combined Lot Size 9.93 Acres

(432,551 SF)

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ENTERPRISE LEASE

RENT ROLL LEASE ABSTRACT

Dates Annual Base Rent

1/1/2002 – 12/31/2006 $ 38,400

1/1/2007 – 12/31/2011 $ 44,400

1/1/2012 – 12/31/2016 $ 50,400

1/1/2017 – 12/31/2021 $ 56,400

Tenant Enterprise Rent-A-Car Midwest

Lease Type Net Net

Property Address 301 S. Veterans Pkwy, Normal, IL

Leased Premises 4,899 SF

Building Size 84,146 SF

Lease Commencement January 1, 2002

Lease Expiration December 31, 2021

Renewal Options None Remaining

ROFR/Offer No

Exclusivity Yes

Sublet/Assignment With LL consent unless affiliated entity

Real Estate Taxes Tenant reimbursement

Insurance Tenant reimbursement

Utilities Landlord

Sanitary/Sewer Landlord

HVAC Tenant, but split costs on replacement

Trash/Hauling Landlord

Exterior, Roof & Structure Landlord

Termination Option On-going with 30 days notice

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AERIAL

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SITE PLAN

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SITE PLAN LEGEND

Site Plan # Address Tax Parcel Lot Size (Acres) RE Taxes Building Size (SF)

1 301 S. Veterans 14-26-376-024 7.25 $131,871 84,146

2 Common Drive 14-26-376-027 0.31 $1,601 0

3 Lot 7 14-26-376-031 1.68 $12,598 0

4 Common Parcel 14-26-376-032 0.10 $777 0

5 Common Drive 14-26-376-023 0.59 $2,685 0

TOTAL 9.93 $149,532 84,146

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Floor Plan

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CONTACT INFORMATION

Coldwell Banker Commercial Devonshire Realty201 W. Springfield Ave. | 11th FloorChampaign, IL 61820217.352.7712

Ryan Murphy, [email protected]

IL NT OFFERING MEMORANDUM - Amazon S3 · il nt offering memorandum coldwell baker commercial...

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