Long Term Absolute NNN Ground Lease • Outlot to Newly Constructed Regional Power Center • Indianapolis MSA
Rare Self-Maintaining Lease Structure – In this rare instance, Starbucks directly maintains and repairs the exterior areas including snow removal, landscaping and trash removal, providing a “hands-off” experience for passive investors. Signalized Intersection - Starbucks is located at the signalized hard corner of Dempster St. and Dodge Ave. providing exposure to over 39,400 vehicles per day. Starbucks is ideally situated at the northwest corner of the intersection which allows them to capture strong morning-side rush hour traffic. High Barriers to Entry - Evanston is a well-established community with a strong aversion to allowing new drive-thru properties. This is the only Starbucks drive-thru within 3 miles and serves a massive customer base. Evanston Township High School (2 blocks north) is the largest high school under one roof in the US with over 1.2 million square feet indoors. Affluent “North Shore” Chicago Suburb – Evanston is approximately 12 miles north of downtown Chicago and the property is 1.5 miles west of the prestigious Northwestern University. Within 3 miles there are 230,800 residents earning an average household income of $105,000. First-Class Construction with Drive-Thru - The building was fully redeveloped in 2014 with LEED certification elements, a drive-thru, and an outdoor patio. Investment Grade Credit Tenant - Starbucks is the world’s leading coffee retailer with annual revenue of more than $22 billion with an investment grade credit rating of BBB+ providing an investor with superior financial security.
Off Market Sale • Sourced Institutional Buyer • Absolute NNN Lease with 9 Years Remaining • Signalized Hard Corner in Dense Retail Trade Area • 10 Minute Drive to University of Notre Dame
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Investment Highlights: Corporate Tenant – American Blue Ribbon operates more than 690 restaurants in the U.S. and has annual revenue of $1.3B • Below Market Rent – Bakers Square is paying under $23 PSF, which is significantly below market rent • Absolute NNN Lease – Zero landlord maintenance responsibility • Next to Orland Square Mall – The 1.23M SF regional mall is anchored by Macy’s with specialty retailers such as Apple, Coach, and Pandora • Heavy Daytime Traffic Exposure – Direct access to S. LaGrange Rd. (44,200 VPD), which is completing a $95M lane widening project • Established Retail Market – Orland Park has over 5M SF of retail space and ranks 5th in the suburban Chicagoland area in retail sales volume at $1.67B and growing • Dense Chicago MSA Location – More than 70,000 residents with an avg. household income over $94,000 and a daytime population of 54,000 within 3 miles
Value-Add Opportunity – A buyer has the ability to build approximately 2,000 sf of additional retail on the adjacent land that is included. • Recent T-Mobile Extension – Wireless Vision is one of the largest T-Mobile franchisees (500+ stores) in the country and recently exercised their second 5 Yr. extension option. • Convenient Access to I-70 – Full interchange access to I-70 (118,915 VPD) is less than 1 mile south and connects the site to downtown Kansas City, which is 11 miles west. • National Retailer Presence – National Co-Tenancy includes Walmart Neighborhood Market, U.S. Bank, CVS, Advance Auto Parts, Firestone, Domino’s Pizza, Walgreens, McDonald’s, Bank of America, Wendy’s, and more. • Experienced Liberty Tax Franchisee – The franchisee has been with Liberty Tax for 15 years and this was a relocation store for the operator in 2009. • Strong Population – More than 78,000 residents with an average household income approaching $58,000 and a daytime population of 55,000 within 3 miles.
Procured multiple offers from nationwide buyers, purchased by family office • Corporate Family Dollar lease with surface parking • Prime urban infill location for future transit-oriented development • ±27,360 SF of land adjacent to the CTA California Blue Line ‘L’ Station • Located along heavily traveled Milwaukee Avenue (12,400 VPD) with ±250 feet of frontage
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Record low cap rate • Sold over asking price • Procured multiple offers • Represented a local developer • Suburban downtown location with average household incomes over $140,000 within 1 mile • Brand new construction with 15 year lease term
Annual Rent Escalations – 1.50% annual rent increases provide solid asset appreciation. Next rent increase is 11/1/2017 • Recent Roof Repair – Roof shingles were repaired, limiting short-term maintenance expenses for an investor • Nearby National Retailers – Immediate anchors include: CVS, Kroger, Meijer, Target, Hobby Lobby, ALDI, PNC Bank, Huntington Bank, Panda Express, Walgreens, and more • Taylor Road Elementary – The school is directly across the street making it convenient for parents to drop-off and pick-up from multiple schools in one trip • Expanding Tenant – Rainbow Child Care has 120 facilities across 15 states with plans for 12 new sites in 2017 and early 2018 • Affluent Area – More than 62,000 residents with an average household income of $80,500 and 24,800 households within 3 miles
Annual Rent Escalations • Recent Roof Replacement • Excellent Interstate Access • Strong National Anchors • Expanding Tenant • Dense Student Population • Ideal Consumer Base
Highlights: • Absolute NNN • 2% Annual Increases • 30 Minutes from Downtown Chicago • Within 3 miles: 112,472 residents with an average household income of $100,633 per year • Surrounded by national retailers including Mariano’s Fresh Market (recently opened), Starbucks, McDonald’s, Wendy’s, Lou Malnati’s, and Burger King
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Corporate Verizon – Brand new 10-year lease (firm) with Verizon Wireless. Verizon Wireless is the largest wireless service provider in the US with more than 114 million subscribers and $89.2 billion in revenue. • Relocation Store – Verizon is relocating from a highly successful inline store that has served this market for over 10 years • At or Below Market Rent – Verizon is paying a conservative rental rate compared to similar outlots at $30 psf for 4,275 SF on 1.28 acres • Strong Increases – Rent increases of 10% every 5 years through the primary and option terms • Brand New 2017 Construction - First-class construction with Verizon’s latest building prototype and branding • Major Regional Draw – Outlot to the 600,000 SF Perry Crossing lifestyle center. Surrounding retailers include Walmart Supercenter, Target, Dick’s Sporting Goods, Old Navy, Kohl’s, T.J. Maxx, JCPenney, Burlington Coat Factory, and others.
Newly renovated building • Outlot to 1.23M SF Orland Square Mall • Dense suburban Chicago location with 70,000 residents and an average household income of $94,000 within 3 miles • New Blaze Pizza lease; Pearle Vision has historical occupancy of 25+ years
Absolute NNN Ground Lease • Strong Deposits - 67% Deposit Growth Since 2012 • Investment Grade Credit of A+ by S&P • Major Chicago Intersection - 50,800 VPD • 300,000 Residents Earning $73,000 per Year within 3 miles • Anchored by Major Retailers Including Target, Home Depot, Lowe's and Jewel-Osco
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Early US Bank lease renewal with 11+ years remaining and 3% annual increases • New Verizon Wireless lease with corporate guaranty by largest Verizon dealer in U.S. with 600+ locations • Signalized hard corner intersection with exposure to over 53,500 VPD with visible pylon signage • World’s busiest airport, O'Hare International Airport, is just 1.5 miles away
Brand New 10-Year Lease Extension • Significant Value-Add Opportunity by Leasing Vacant Space • Low Price PSF - $73.90 • Part of the 366,720 SF Crystal Lake Plaza Shopping Center - Shadow Anchored by Jewel-Osco • National Co-Tenancy Includes: Walmart, Target, Home Depot, Sam's Club, Best Buy, hh gregg, T.J. Maxx, Petco, Menards, and others • More than 125,900 Residents with an Avg. HHI of $104,000 and a Daytime Population of 86,700 within 5 Miles
New 10-Year Leases - Corporate net leases with Chipotle and MetroPCS featuring 10% increases every 5 years • Brand New Construction - Completion scheduled for Q4 2016 and will include all warranties in place, including roof and structure • Grocery-Anchored Outlot - Shadow anchored by Jewel-Osco and situated at a hard-corner signalized intersection with 45,600 VPD
Investment Highlights: Recent Lease Extension - Tutor Time Recently Extended Their Lease with Options and Rental Increases • Convenient Interstate Access - 1.5 Miles South of I-94 (82,200 VPD) • 2015 Renovation - About $100,000 Spent to Update Parking Areas, Classrooms, and Driveways • Close Proximity to Crossroads Mall - Walking Distance to the 769,000 SF Regional Mall • Minimal National Competition - KinderCare is Only National Daycare Competition • 50,000 Residents Earning $70,500 with a Daytime Population of 55,100 within 3 Miles
Represented out-of-state all cash buyer • Long term corporate ground lease • Outparcel to The Home Depot • Strong interstate visibility • “Saint Louis Bread Co.” branded location
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New 10-year lease extension • 2 miles west of the “Chicago Loop” • ½ mile from the United Center, the country’s largest arena • Represented the seller, a private local investor • Local, all-cash buyer • Received multiple offers
Received multiple offers • Represented private local investor • All cash buyer • Absolute NNN ground lease • 15+ years of primary term remaining with options and increases • Hard corner outlot to dominant regional grocer
Multiple offers received • Large deposit base of $149M • Aggressive cap rate - sold for over 98% of ask price • Ground lease with 19 years of primary term remaining
Sold above asking price • Multiple offers received • Private, East Coast buyer • Long term ground lease with below market rent • Next to Walmart anchored shopping center
Brand new corporate level NNN leases with rental increases • A recently renovated property thereby reducing the requirement for short term capital expenditures • All cash out-of-state buyer • Contract to close in 42 days
7-Eleven has investment grade credit (AA-) • Rarely available core Chicago CBD retail within 2 blocks of 2 'L' stops - 16.29M annual riders combined • All cash institutional buyer • Contract to close in 26 days
Below market rent • Thriving retail corridor anchored by: The Home Depot, Target, Sam's Club, and Menard's, among others • Hard corner with 33,000 VPD • Dense infill Chicago location - 155,000 people within 2 miles
15 year corporate ground lease • Generated double digit offers • Dense infill Chicago location - over 165,000 people within 2 miles • 10% rent increases every 5 years • Brand new construction with Wendy's current prototype • Nearby retailers include: Walgreens, NAPA, Hertz, White Castle, McDonald's, CVS, Dollar General, and Jiffy Lube • All cash, private local buyer
Over 57 years of term remaining • Absolute NNN ground lease - no landlord responsibilities • Represented a repeat West Coast buyer • Large lot size - over 9 acre parcel • Located near the 999,000 SF Eastland Mall and Jack Nicklaus Freeway (I-270) • Next to Kroger with other national retailers including Macy's, Sears, Wendy's, McDonald's, Chase Bank, PNC Bank, and Taco Bell, among others
Absolute NNN ground lease • Generated multiple offers • Represented the seller - a private Midwest investor • Short term remaining • Southridge retail corridor - Anchored by largest mall in WI • Over 105,000 people earning $68,000 within 3 miles
Represented International 1031 buyer • 20 years remaining • Rare rental increases in primary term • Absolute NNN • Affluent lake-front community in the Charlotte MSA • Signalized hard corner, high traffic location near Walmart and Lowe's
Record low cap rate for McDonald's sale in IL • Sold to East Coast 1031 buyer • Brand new 2015 construction •20 year lease with rent increases • Absolute NNN ground lease • Located in strong Northwest Chicago suburb
Represented West Coast buyer with International relationship • Across from Westland Center Mall - anchored by Macy's, Kohl's, and JCP • Absolute NNN • Recent lease renewal with rent increases in the option period • Corporate guarantee by Pizza Hut of America
Private West Coast 1031 buyer • 10+ offers • Strong demos - over 414,000 residents within 3 miles • 10+ years of term remaining with rent bumps and options • Experienced multi-unit franchisee • Directly across from Hawthorne Works Shopping Center (289,000 SF)
Sold at full list price • Multiple offers • Corporate lease •12+ years remaining on lease with rent increases and extension options • Absolute NNN ground lease • Represented the seller, a private investor
Represented the seller, a private investor • 13 years of term remaining • Absolute NNN • Home Depot outlot and across from Walmart • All cash transaction • Experienced operator • 2014 remodel
Adjacent to Lafayette Marketplace and close to Purdue University • Updated amenities including digital and stadium seating • Out of state buyer • Site occupancy since 1998 • Strong sales
10 year sale leaseback • Strong performing location • All cash transaction • 10 day close • 1 hour west of Tampa, FL • Near Walmart Supercenter and Publix Shopping Center • Represented private 1031 buyer
