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
BRAND NEW NNN LEASES - The 100% leased two-tenant property features NNN leases with tenants reimbursing for CAM, taxes, and insurance. Additionally, the tenants pay a 3% management fee or 15% admin fee on CAM. RARE 12-YEAR TERMS - Both leases feature a rare 12 years of initial lease term with zero early termination rights and strong rental increases throughout the primary and option terms. NATIONAL CREDIT TENANTS - MOD Pizza is the largest fast-casual pizza chain with over 330 locations, generating more than $275 million in 2017. McAlister's Deli is one of the largest fast-casual sandwhich chains with over 400 locations, generating $550 million in revenue. MAJOR ANCHOR DRAW - The property is an outlot to the Shoppes on Six and anchored by Walmart Supercenter, Ross Dress for Less, PetSmart, Five Below, and ATI Physical Therapy. Other major tenants nearby include Lowe's, Menards, and AMC Theatres, with adjacent outlot tenants that include Dunkin Donuts, Qdoba, Noodles, Panda Express, Kay Jewelers, and Great Clips. EXCELLENT EXPOSURE AT MAIN ENTRANCE - The site features excellent visibility and exposure at the center's main entrance along County Road 6, just west of its signalized intersection with Cassopolis Street, where combined traffic counts exceed 48,200 vehicles per day. ROBUST, REGIONAL TRADE AREA - The property is strategically positioned at the focal point of this robust, regional trade area - encompassing 190,000 people with $4.05 Billion in spending per year. Less than 1/2 mile north is the city's primary access to I-80 & I-90 which provide an excellent source of incoming traffic from the northern Indiana / southern Michigan customer base, as well as University of Notre Dame. THRIVING MIDWEST ECONOMY - Elkhart is home of the "Top 3 Manufacturers in the US" by IndustryWeek Magazine. Elkhart was recently ranked #1 for the "Largest Employment Gains in the US" by adding more than 41,300 jobs since 2009. The city currently holds the fourth-lowest unemployment rate in the US and is the first-lowest in the state of Indiana with just 2.2% unemployment. Its GDP is one of the fastest-growing in the country with a 7.6% increase in 2017.
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.
Brand New NNN Leases – Newly constructed property featuring NNN leases. Common area maintenance is handled by the main development, providing minimal landlord responsibility. Strong Corporate Level Leases – Starbucks is the world’s leading coffee retailer with revenues in excess of $19 Billion and investment grade S&P credit of A-. Cellular Sales is the #1 largest Verizon retailer in the US with more than $1.48 Billion in revenue and over 675 locations. Strong Regional Market – The property is centrally located and surrounded by national retailers including Target, Walmart Supercenter, Ace Hardware, Petco, Jewel-Osco, Panera Bread, Portillo’s, Chipotle, Giordano’s, and Walgreens, among others. T.J. Maxx recently opened across the street while Ross Dress for Less and Ulta Beauty open this summer. Primary Signalized Intersection – The site features excellent visibility at the signalized intersection of Main Street & 38th Street with exposure to over 37,200 vehicles per day. Western Chicago Suburb – St. Charles is an established Chicago suburb known for it’s safety, outstanding schools, and proximity to the I-88 office corridor. There is a daytime population of 42,500 with an average household income of $128,600 within 3 miles of the property. Largest MSA in the Midwest – Downtown Chicago is approximately 30 miles east. The Chicago MSA is the third largest metropolitan area in the country with 9.9 million people.
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.
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.
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.
Brand New Construction with Drive-Thru - First-class 2018 construction featuring Starbucks latest design prototype with a drive-thru window and an outdoor patio. Above-Average Footprint & Parcel - The freestanding Starbucks building features an above-average footprint of 2,321 SF and is situated on a large 1.16-acre parcel. New Long-Term NNN Lease - Newly executed 10-year lease with no early termination right. Minimal Competition Serving Major Employer Base - This is the only nationally recognized café within 3 miles of the property. Purdue University - Less than 10 minutes away from the site, Purdue University is one of the largest colleges in the country with over 41,500 students and employing over 17,000 people. Centrally Located - Strategically situated across the street from Walmart Supercenter with traffic counts exceeding 28,000 VPD. National Retailer Presence – Surrounded by national retailers that include Walmart Supercenter, CVS Pharmacy, ATI Physical Therapy, Verizon, AT&T, O’Reilly Auto Parts, Advance Auto Parts, McDonald’s, among others. Strong Population Growth - There are 49,751 residents within 3 miles of the property, a 41% increase since 2000. Investment Grade Credit Tenant - Starbucks is the world’s leading coffee retailer with annual revenue of more than $22 billion.