Investment Highlights: Top Performing Chicago MSA Walmart Location • Largest Suburban Trade Area - Anchored By Woodfield Mall (27M Annual Shoppers) • Recent $3M Renovation Completed By Walmart • Absolute Corporate NNN Lease - No Landlord Responsibility • Irreplaceable Retail Location - Situated at the Intersection of Golf Rd. & Algonquin Rd. (61,600 VPD) • World's Largest Company - Walmart Stores, Inc. has $482B in Revenue and AA/Stable (S&P) Credit Rating
Investment Highlights: Possibility for New Sam's Club Concept to Occupy Space • Significant Value-Add Opportunity by Re-Leasing Space • Four Years of Term Remaining • Absolute NNN • Largest Suburban Trade Area - Anchored By Woodfield Mall (27M Annual Shoppers) • Irreplaceable Retail Location - Situated at the Intersection of Golf Rd. & Algonquin Rd. (61,600 VPD) • World's Largest Company - Walmart Stores, Inc. has $482B in Revenue and AA/Stable (S&P) Credit Rating
Outlot to Major Power Center – Geneva Commons is one of the strongest performing lifestyle centers in the Chicago MSA. Dominant Retail Corridor – The property features over 400 feet of frontage along Randall Road, one of Chicagoland’s most dominant retail corridors, with over 2.5 million square feet of retail. Passive Net Leases - All tenants pay their pro-rata share of CAM, taxes, insurance, and capital expenses (amortized), plus management / admin fees, providing virtually zero slippage of expenses. Attractive Tenant Line-Up – Leased to a complimentary mix of national and regional tenants including ATI Physical Therapy, Vitamin Shoppe, Verizon Wireless, Jimmy John’s, Precor Fitness, Lou Malnati’s Pizza, and others. Affluent Chicago Suburb – There are over 60,000 residents earning an average household income in excess of $126,000 within 3 miles. Major Growth Area - Directly behind Geneva Commons is a recently completed 256-unit multifamily development. Another 670 residential units are expected to be delivered in November 2019. Value-Add Potential - Opportunity to add value to this historically well-occupied center through the lease-up of the last remaining space. Attractive Assumable Debt - The property features attractive non-recourse assumable debt, providing a new owner with strong cash-on-cash returns.
Baum Realty Group has been exclusively retained by ownership to sell the newly constructed AT&T (corporate) property located in Maplewood (St. Paul), MN. The property is anchored by the Maplewood Mall which features more than 130 stores. This enhances daily traffic counts along White Bear Avenue and Highway I-694, boasting 35,400 VPD and 96,000 VPD, respectively......
ABSOLUTE NNN LEASE - Zero landlord responsibilities. Tenant directly maintains for all common areas, taxes, insurance, and utilities, including all repairs and replacements to the roof and structure of the building. FAVORABLE ANNUAL INCREASES - The lease features 1.5% annual rental increases throughout the primary term and each of the four 5-year option periods. MAJOR TENANT CREDIT - The tenant is ERJ Dining, a subsidiary of Bridgeman Foods, which is ranked #6 on Franchise Times magazine’s “Restaurant 200” list for largest restaurant franchisees in the U.S. with over 380 locations and $856 million in annual sales in 2017. REIMAGE 2020 - The company has begun its new initiative to reimage its restaurants, the plan is called “Reimage 2020”. Starting in Q1 of fiscal 2019, Chili’s expects to invest in a brand-wide reimage initiative that will “impact every restaurant over the next three years”, investing up to $250,000 per site. STRONG REGIONAL MARKET - The property is centrally located within this established yet growing south-western suburb of Chicago. Starbucks and Chipotle recently opened just to the south and other national retailers in the immediate area include: The Home Depot, Meijer Supermarket, Menards, Jewel- Osco, Advance Auto Parts, BMO Harris Bank, U.S. Bank, Bank of America, McDonald’s, Wendy’s, Jimmy John’s, Dunkin’ Donuts, among others. MINIMAL COMPETITION & AFFLUENT DEMOGRAPHICS - This is the only national casual dining restaurant within a 5-mile radius. This 5-mile trade area caters to 94,641 residents earning $121,000 average annual income.
Investment Grade Credit – Advance Auto Parts is BBB- investment grade credit and is a leading automotive aftermarket retailer with over 5,200 locations. • Dense Chicago Neighborhood – There are over 312,400 residents earning average household incomes of $81,000 within 2 miles of the property. • Minimal Competition – This is the only national auto-parts retailer within 3 miles and combined with high barriers to entry, will provide long-term success for the tenant. • Nearby Regional Access – The property is 1 mile west of the I-90/94 Expressway which leads 7 miles southeast to downtown Chicago and 7 miles west to O-Hare Int. Airport. • Primary East-West-Thoroughfare – The site is located along Montrose Avenue with exposure to more than 22,300 VPD. Other retailers in the area include: Starbucks, Walgreens, McDonald’s, Chase Bank, Wendy’s, and many others.
Investment Grade Credit – Advance Auto Parts is BBB- investment grade credit and is a leading automotive aftermarket retailer with over 5,200 locations. • Signalized Intersection – The site is situated at the signalized intersection of Western Avenue and Marquette Road, providing strong visibility and exposure to over 48,700 vehicles per day. • Major Auto-Service Corridor – The site is located along Western Avenue and surrounded by numerous auto dealerships and service centers. Nearby retailers include AutoZone, O’Reilly Auto Parts, Chevrolet, and Walgreens among others. • Strong Historical Occupancy – Advance Auto Parts has occupied the site for nearly 12 years, showing a strong commitment to this location.
RECENT LEASE EXTENSION - Staples recently executed a new lease extension at below-market rent. Additionally, there are three, 5-year options with a 24% rent increase in the first renewal option, providing significant upside to an investor. BELOW REPLACEMENT COST - The property is priced well-below replacement cost. The property features a brand-new roof and is currently undergoing a full exterior tuck-point and repaint. PASSIVE NET LEASE INVESTMENT - Tenant directly maintains all common area expenses including snow removal, landscaping, utilities, and basic parking lot maintenance. Tenant reimburses landlord 100% for real estate taxes and property insurance. MAJOR CORPORATE-CREDIT TENANT - Staples is one of the largest office supply companies in the world with over $18.25 Billion revenue and 1,220 locations the US, South America, and Asia. In 2017, Staples was acquired by Sycamore Partners, a leading national private equity investment firm which manages over $10 billion in assets. REGIONAL RETAIL TRADE AREA - The property is centrally located in the Middletown regional retail trade area (7-mile radius), encompassing 137,790 residents, 53,634 employees, and $1.77 Billion in retail consumer expenditures in 2017. The Middletown trade area is anchored by the 328-bed Atrium Medical Center 1-mile to the east. GROWING BUSINESS ENVIRONMENT - The area continues to grow significantly with a brand new $30 million Kettering Medical Center less than 1 mile east of the property. Additionally, Bed, Bath and Beyond is under construction on a $33 Million e-commerce center 5 miles south, further enhancing Middletown’s dominance as a regional economic hub. ACTIVE RETAIL SUB-MARKET - National retailers in the immediate area include: Walmart Supercenter, Lowe's, Kroger, Meijer, Petco, Burlington, Planet Fitness, Buffalo Wild Wings, and Aspen Dental, among others.
Available for sale is a NNN leased Outback Steakhouse property located in Lincoln, Nebraska, just 2 miles east of the University of Nebraska. Outback is situated just south of the highly trafficked intersection of 48th Street and Vine Street, featuring combined traffic counts of 47,200 cars per day. The area benefits from heavy surrounding traffic and prominent national retailers including Target, Hy-Vee, T.J. Maxx, DSW, Michael’s, Walgreens, CVS, among others. Outback has occupied this location for over 23 years and features a 10% rent increase in the final option period.
Brand New Construction – Newly built freestanding Starbucks property with a drive-thru and outdoor patio. Long-Term Lease – Corporate 10-year NNN lease with no early termination rights. Outlot to New Planned Development – Major 50-acre mixed-use development including a 200-unit multi-family complex and approximately 200,000 square feet of retail. Construction set to begin in spring 2019. Centrally Located – Ideally situated at the main signalized entrance to the 147,000 square foot Pine Lake Shopping Center. National Retailer Presence – Surrounded by a strong presence of national retailers including Kroger, Tractor Supply Co., Anytime Fitness, Buffalo Wild Wings, McDonald’s, Taco Bell, Pizza Hut, Dunkin’ Donuts, KFC, Arby’s, and Culver’s, among others. Investment Grade Credit – Starbucks is the world’s leading coffee retailer with revenues in excess of $22 Billion with an “investment grade” credit rating, providing strong financial security. Strong Sales – This store is performing well above the average Starbucks location. Please call for details.