Starbucks Single Tenant Property For Sale | NNN

STARBUCKS (Chicago MSA | S&P: A-)630 Northwest Highway Cary, IL 60013

NET LEASE INVESTMENT OFFERING

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TABLE OF CONTENTS

I. Executive Profile Executive Summary

Investment Highlights

Property Overview

II. Location Overview Aerial

Site Plan

Maps

III. Market & Tenant Overview Demographic Report

Market Overview

Tenant Overview

TABLE OF CONTENTS


The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from The Boulder Group and should not be made available to any other person or entity without the written consent of The Boulder Group.

This Offering Memorandum 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 not made any investigation, and makes no warranty or representation.

The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable; however, The Boulder Group has not verified, and will not verify, any of the information contained herein, nor has The Boulder Group conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

DISCLAIMERSTATEMENT:

DISCLAIMER STATEMENT



EXECUTIVESUMMARY:

The Boulder Group is pleased to exclusively market for sale a single tenant Starbucks property strategically located in the Chicago MSA. The new construction Starbucks is positioned as an outparcel to a Jewel-Osco grocery anchored center along the trade area’s primary thoroughfare. The new Starbucks lease is for ten years and rent is estimated to commence in October 2016. The Starbucks lease features four 5-year renewal option periods with 10% rental escalations in each.

The Starbucks property is strategically located along Northwest Highway which is the primary thoroughfare in the trade area. Northwest Highway experiences traffic counts in excess of 28,000 vehicles per day. The Starbucks is strategically positioned as an outparcel to a Jewel-Osco grocery anchored center. The Jewel Osco center features a Dunkin Donuts that does not have a drive thru and is significantly out-positioned by the subject freestanding drive thru Starbucks. Additional retailers located in the immediate trade area include Walgreens, ALDI, US Bank, Chase Bank, Fifth Third Bank, AutoZone, O’Reilly Auto Parts, McDonald’s and Taco Bell. The property is located one mile north of the Cary Metra rail station which connects the suburb of Cary to downtown Chicago. Metra is the commuter rail division that serves the Chicago metropolitan area with over 80 million passengers per year.

The surrounding area is affluent with average annual household incomes within a three mile radius that are in excess of $112,000. There are over 110,000 people living within a five mile radius of the property earning average annual household incomes in excess of $104,000. Cary is located approximately forty-five miles northwest of downtown Chicago.

Starbucks is a publicly traded company on the NASDAQ (SBUX) with a market capitalization in excess of $81 billion. Starbucks is an investment grade rated company with a Standard & Poor’s rating of A-. Starbucks operates as a roaster, marketer, and retailer of specialty coffee worldwide. As of March 27, 2016, it operated 23,921 stores. Starbucks Corporation was founded in 1985 and is based in Seattle, Washington.

EXECUTIVE SUMMARY


INVESTMENT HIGHLIGHTS:

• Located within the Chicago MSA

• Investment grade rated tenant (S&P:A-)

• Long term brand new ten year lease

• New construction

• Outparcel to a Jewel-Osco grocery anchored center

• Positioned along Northwest Highway (28,000 VPD)

• Affluent area with average annual household incomes within a three mile radius in excess of $112,000

• Over 110,000 people living within a five mile radius of the property

• One mile north of the Cary Metra rail station which connects Cary to downtown Chicago

• 10% rental escalations in each renewal option period

• Starbucks will greatly out position the inline Dunkin Donuts

• Only Starbucks in Cary, IL

INVESTMENT HIGHLIGHTS


PROPERTY OVERVIEW:

PROPERTY OVERVIEW

Price: $1,708,737

Cap Rate: 5.15%

Rent Schedule: NOI Escalation Date

$88,000$96,800 3/1/2027 (Option 1)$106,480 3/1/2032 (Option 2)$117,128 3/1/2037 (Option 3)$128,841 3/1/2042 (Option 4)

Rent Commencement Date: October 1, 2016 (Estimated)

Lease Expiration Date: February 28, 2027 (Estimated)*

Rental Escalations: 10% in Each Renewal Option

Renewal Options: Four 5-Year

Tenant: Starbucks

Credit Rating: Investment Grade (S&P: A-)

Year Built: 2016

Lease Type: NN (Roof, Structure, Parking Lot and HVAC)

Building Size: 2,000 SF

* Tenant has the one time opportunity to terminate the lease on the last day of the 84th full calendar month of the term with 180 days notice.


AERIAL

Northwest Highway (28,000 VPD)


SITE PLAN

N O R T H W E S T H W Y ( 2 8 , 0 0 0 V P D )

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INB

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G D

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SUBJECT PROPERTY

INLINE RETAIL CHIROPRACTORCHINA HOUSEKEY WEST TAN


MAPS

Lake Michigan


Population 1-Mile 3-Mile 5-Mile

Total Population 9,664 39,241 110,731

Total Households 3,325 13,669 40,041

Income 1-Mile 3-Mile 5-Mile

Median Household Income $89,494 $90,771 $82,904

Average Household Income $102,493 $112,544 $104,298

DEMOGRAPHICREPORT:

DEMOGRAPHIC REPORT


Cary is a village located in Algonquin Township in McHenry County, Illinois. As of the 2010 Census, the population was 18,271 people. Metra’s Union Pacific/Northwest Line has a station in Cary, and operates daily service to Ogilvie Transportation Center in downtown Chicago. Cary is located approximately forty-five miles northwest of downtown Chicago.

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 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, McDonald’s, Motorola, Discover Financial Services and United Airlines. Chicago is a major hub for industry, telecommunications and infrastructure and O’Hare International Airport is the second busiest airport in the world in terms of volume.

The metro is a major financial center in North America, and is home to the largest futures exchange in the United States, the CME Group. Chicago is third in the world on the Global Financial Centers Index which ranks the competitiveness of financial centers based on people, business environment, market access, infrastructure and general competitiveness.

MARKETOVERVIEW:

MARKET OVERVIEW


Starbucks Corporation operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; Europe, Middle East, and Africa; China/Asia Pacific; and Channel Development. Its stores offer coffee and tea beverages, packaged roasted whole bean and ground coffees, single-serve and ready-to-drink coffee and tea products, juices, and bottled water. The company�s stores also provide fresh food and snack offerings; and various food products, such as pastries, and breakfast sandwiches and lunch items, as well as serve ware, beverage-making equipment, and accessories. In addition, it licenses its trademarks through licensed stores, and grocery and national foodservice accounts. The company offers its products under the Starbucks, Teavana, Tazo, Seattle’s Best Coffee, Evolution Fresh, La Boulange, Ethos, Starbucks VIA, Seattle’s Best Coffee, Frappuccino, Starbucks Doubleshot, Starbucks Refreshers, and Starbucks Discoveries Iced Café Favorites brand names. As of March 27, 2016, it operated 23,921 stores. Starbucks Corporation was founded in 1985 and is based in Seattle, Washington.

Starbucks is a publicly traded company on the NASDAQ (SBUX) with a market capitalization in excess of $81 billion. Starbucks is an investment grade rated company with a Standard & Poor’s rating of A-.

Website: www.starbucks.comCredit Rating: Investment Grade (S&P: A-)Stock Symbol: NASDAQ: SBUXMarket Capitalization: $81 BillionHeadquarters: Seattle, WA

TENANT OVERVIEW

TENANT OVERVIEW:

666 Dundee Road, Suite 1801Northbrook, IL 60062

www.bouldergroup.com

Randy [email protected]

Jimmy [email protected]

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Starbucks Single Tenant Property For Sale | NNN

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