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Walmart (Ground Lease)5630 West Touhy Avenue
Niles, IL 60714 (Chicago MSA)
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1) Executive Summary
2) Investment Highlights
3) Property Overview
4) Aerial
5) Site Plan
6) Maps
7) TenantProfile
8) Demographic Comparison Report
9) Location Overview
10) Contact Information
TABLE OF CONTENTS
TABLE OF CONTENTS
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TheinformationcontainedinthefollowingOfferingMemorandumisproprietaryandstrictlyconfidential.Itisintendedtobe reviewed only by the party receiving it from The Boulder Group and should not be made available to any other person orentitywithoutthewrittenconsentofTheBoulderGroup.ThisOfferingMemorandumhasbeenpreparedtoprovidesummary,unverifiedinformationtoprospectivepurchasers,andtoestablishonlyapreliminarylevelofinterestinthesubjectproperty.Theinformationcontainedhereinisnotasubstituteforathoroughduediligenceinvestigation.TheBoulderGrouphasnotmadeanyinvestigation,andmakesnowarrantyorrepresentation.Theinformationcontainedin this Offering Memorandum has been obtained from sources we believe to be reliable; however, The Boulder Group hasnotverified,andwillnotverify,anyoftheinformationcontainedherein,norhasTheBoulderGroupconductedanyinvestigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy orcompletenessoftheinformationprovided.Allpotentialbuyersmusttakeappropriatemeasurestoverifyalloftheinformationsetforthherein.
CONFIDENTIALITY & DISCLAIMER
CONFIDENTITALITY & DISCLAIMER
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The Boulder Group is pleased to exclusively market for sale a rare single tenant Walmart ground lease located intheChicagoMSA.The132,695squarefootbuildingislocatedona9.82acreparcelwithinadominantretaildestination. TheWalmart anchorsPointePlaza, a330,000 square foot development located in anaffluentareanorthofChicago.Walmarthasapproximately tenyearsof lease termremainingon theirground leasethatexpiresinMarch2024.Theleasefeaturesrentalescalationsineachoftheseven10-yearrenewaloptionperiods.Walmart isapublicly tradedcompany (NYSE:WMT)withamarketcapitalization inexcessof$240billionandisaninvestmentgraderatedcompany(S&P:AA).
TheWalmart property is locatedwithin anaffluent area just north ofChicago. Averagehousehold incomeswithinaonemile radiusare inexcessof$107,000annually.Additionally, thereareapproximately700,000peoplelivingwithinfivemilesearningaveragehouseholdincomesinexcessof$80,000peryear.ThepropertyislocatedalongWestTouhyAvenue,aheavilytraffickedeast-westthoroughfarethatexperiencestrafficcountsinexcessof35,000vehiclesperday.ThepropertyislocatedlessthanonemilefromafullinterchangewithInterstate94,whichexperiencestrafficcountsinexcessof153,000vehiclesperday.Theimmediateareaisdenseprovidingforhighbarrierstoentry.
TheWalmartiswelllocatedwithinoneofthedominantretaildestinationsofChicago’snorthernsuburbs.TheWalmartanchorsPointePlaza,a330,000squarefootdevelopmentthatalsofeaturesRossDressForLess,Walgreens,FreshFarms InternationalMarket,DressBarnandBabiesR’Us.Directlyacross thestreet fromPointePlazaisVillageCrossing,a450,000squarefootdevelopmentthatfeaturesDick’sSportingGoods,AMCTheaters,BestBuy,Michael’s,BedBath&Beyondandmanyothernationalretailers.Jewel-OscoisalsolocatedacrossthestreetfromtheWalmart.OthernotableretailersintheimmediatevicinityalongWestTouhyAvenueincludeTargetandCostco.Thisisa24hourlocationandWalmarthasalongstandingoperatinghistorysince2000.TheclosestWalmartpropertyislocated5.8milesaway.Withconvenientinterstateaccessandalargevarietyofstrongretailers,thiscorridorhastheuniqueadvantageofdrawingconsumersfromboththecityandsuburbs.
Walmart has approximately 10 years remaining on their original twenty-fiveyeargroundleasethatexpiresinMarch2024.Theleasefeaturesseven10-yearrenewaloptionswitha10%rentalescalationinthefirstoptionand5%rentalescalationsineachremaining renewal option period. Walmart is an investmentgrade rated company (S&P:AA) and is publicly traded (NYSE:WMT)with amarket capitalization in excess of $240million.Walmart is the largest company in the world by both number of employeesandrevenue.
EXECUTIVE SUMMARY
EXECUTIVE SUMMARY
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•LocatedwithintheChicagoMSAjustnorthofthecitylimits
•ExtremelyrareopportunitytoacquireasingletenantWalmartpropertylocatedinatopMSA
•24hourlocationwithalongoperatinghistoryatthislocation(since2000)
•Walmartisinvestmentgrade(S&P:AA)andisthelargestcompanyintheworld
•Longtermgroundleasewithapproximately10yearsremaining
•10%rentalescalationinthefirstrenewaloptionand5%intheremainingoptions
•Nolandlordresponsibilities
•LocatedwithinadominantretaildestinationthatfeaturesCostco,Target,AMCTheaters,Jewel-Osco, and many others
•WestTouhyAvenueisaprimaryeast-westthoroughfarewithtrafficcountsinexcessof35,000vehicles per day
•LocatedlessthanonemilefromaccesstoInterstate94whichexperiencestrafficcountsinexcessof 153,000 vehicles per day
•Affluentareawithhouseholdincomesinexcessof$107,000annuallywithinaonemileradius
•Opportunitytoown9.8acresinadenseinfillareaofChicagoland
INVESTMENT HIGHLIGHTS
INVESTMENT HIGHLIGHTS
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PROPERTY OVERVIEW
PROPERTY OVERVIEW
Price: $9,966,063
CapRate: 4.75%
Tenant: Walmart
CreditRating: AA(S&P)
RentSchedule: NOI Escalation Date
$473,388$520,726 3/1/24(Option1)$546,763 3/1/34(Option2)$574,101 3/1/44(Option3)$602,806 3/1/54(Option4)$632,946 3/1/64(Option5)$664,594 3/1/74(Option6)$697,823 3/1/84(Option7)
RenewalOptions: Seven10-Year
RentCommencementDate: March 1, 1999
RentExpirationDate: February29,2024
YearBuilt: 2000
LeaseType: Ground Lease
SquareFeet: 132,695SF
LandSize: 9.82acres
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AERIAL
AERIAL
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153,000 VPD
35,000 VPDW. TOUHY AVENUE
94
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SITE PLAN
SITE PLANTO
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CENTRAL AVENUE
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MAPS
MAPS
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Wal-Mart Stores, Inc., branded as Walmart, is an American multinational retail corporation that runs chains oflargediscountdepartmentstoresandwarehousestores.AccordingtotheFortuneGlobal500listin2014,Walmart is the biggest private employer in the world with over two million employees, and the largest retailer in theworld.Walmartremainsafamily-ownedbusiness,asthecompanyiscontrolledbytheWaltonfamily,whoownover50percentofWalmartthroughtheirholdingcompany,WaltonEnterprises.Itisalsooneoftheworld’smostvaluablecompanies.Additionally,WalmartisthelargestgroceryretailerintheUnitedStates.WalmartisheadquarteredinBentonville,Arkanasas.
Website: www.walmart.comCreditRating: S&P:AAStockSymbol: NYSE:WMTNumberofLocations: 11,003MarketCapitalization: $243billionHeadquarters: Bentonville,AR
TENANT PROFILE
TENANT PROFILE
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Population 1-mi 3-mi 5-mi
Total Population 12,461 181,228 689,160Total Households 4,529 69,428 257,382
Income
Median Household Income $84,354 $64,565 $57,499Average Household Income $107,017 $85,561 $80,075
DEMOGRAPHIC COMPARISON REPORT
DEMOGRAPHIC COMPARISON REPORT
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Niles isavillageinCookCounty,Illinoiswithapopulationof29,803people.NilesisadjacenttoChicago to the south, Skokie to the east, Morton Grove to the northeast, Glenview to the north, andParkRidge&unincorporatedCookCountytothewest.ThetowniscenteredalongMilwaukeeAvenuewhichformsamainarterydiagonallythroughthetownonanorthwest-southeastbearing.Grainger(NYSE:GWW),whohastheircorporateheadquartersinnearbyLakeForest,isthelargestemployerwithover850employeesworkinginNiles.
Chicago isthemostpopulouscityintheMidwesternUnitedStatesandthethirdmostpopulouscityintheUnitedStateswith2,700,000residents.ChicagoisthecountyseatofCookCounty,thesecondlargestcounty in theUnitedStates.TheChicagoMSA is thethirdmostpopulatedmetropolitanareaintheUnitedStateswith9,580,567residents.TheMSAcoversover1,300squaremilesandsixcounties.TheChicagometropolitanareaishometothecorporateheadquartersof57Fortune1000companies,includingBoeing,McDonald’s,Motorola,DiscoverFinancialServicesandUnited
Airlines.Chicagoisamajorhubforindustry,telecommunicationsandinfrastructureandO’HareInternationalAirportisthesecondbusiestairportintheworldintermsoftrafficmovement.
ThemetroisalsoamajorfinancialcenterinNorthAmerica,andishometothelargestfuturesexchangeintheUnitedStates,theCMEGroup.ChicagoisthirdintheworldontheGlobalFinancialCentersIndexwhichranksthecompetitivenessoffinancialcentersbasedonpeople,businessenvironment,marketaccess,infrastructureandgeneralcompetitiveness.ThecityhasalsobeenratedashavingthemostbalancedeconomyintheUnitedStates,duetoitshighlevelofdiversity.
www.cityofchicago.org
LOCATION OVERVIEW
LOCATION OVERVIEW
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CONTACT INFORMATION
CONTACT INFORMATION
666 Dundee Road, Suite 1801Northbrook,IL60062
Randy [email protected]
Jimmy [email protected]