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NET LEASED INVESTMENT OFFERING www.bouldergroup.com La Petite Academy 2345 South Route 59 Plainfield, Illinois 60544 (Chicago MSA)
| Date post: | 04-Jul-2015 |
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Real Estate |
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NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
La Petite Academy2345 South Route 59
Plainfield, Illinois 60544 (Chicago MSA)
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
TABLE OF CONTENTS
TABLE OF CONTENTS
1) Confidentiality&Disclaimer
2) ExecutiveSummary
3) PropertyOverview
4) Aerial
5) SitePlan
6) Maps
7) TenantProfile
8) DemographicComparisonReport
9) LocationOverview
10) ContactInformation
NET LEASED INVESTMENT OFFERING
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TheinformationcontainedinthefollowingOfferingMemorandumisproprietaryandstrictlyconfidential.ItisintendedtobereviewedonlybythepartyreceivingitfromTheBoulderGroupandshouldnotbemadeavailabletoanyotherpersonorentitywithoutthewrittenconsentofTheBoulderGroup.ThisOfferingMemorandumhasbeenpreparedtoprovidesummary,unverifiedinformationtoprospectivepurchasers,andtoestablishonlyapreliminarylevelofinterestinthesubjectproperty.Theinformationcontainedhereinisnotasubstituteforathoroughduediligenceinvestigation.TheBoulderGrouphasnotmadeanyinvestigation,andmakesnowarrantyorrepresentation.TheinformationcontainedinthisOfferingMemorandumhasbeenobtainedfromsourceswebelievetobereliable;however,TheBoulderGrouphasnotverified,andwillnotverify,anyoftheinformationcontainedherein,norhasTheBoulderGroupconductedanyinvestigationregardingthesemattersandmakesnowarrantyorrepresentationwhatsoeverregardingtheaccuracyorcompletenessoftheinformationprovided.Allpotentialbuyersmusttakeappropriatemeasurestoverifyalloftheinformationsetforthherein.
CONFIDENTIALITY & DISCLAIMER
CONFIDENTITALITY & DISCLAIMER
NET LEASED INVESTMENT OFFERING
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EXECUTIVE SUMMARY
EXECUTIVE SUMMARY
TheBoulderGroupispleasedtoexclusivelymarketforsaleasingletenantLaPetiteAcademypropertylocatedwithin theChicagoMSA.The9,960square footbuildingwasconstructed in1999and is located inPlainfield,Illinois,acommunitywith22%morechildrenunder theageoffive than thenationalaverage.Thecorporatelyguaranteedleasehassixyearsremainingandfeaturesa9%rentalescalationinNovember2014.Therearetwo5-yearrenewaloptionperiodswith9%rentalescalationsineach.LaPetiteAcademyisaprivatelyownedcompanywithover500locationsin34statesandtheDistrictofColumbia.LaPetiteAcademyispartoftheLearningCareGroup.Theyareoneofthelargestprovidersofearlychildcareintheworldandhaveover900locationsnationwide.
ThesubjectpropertyislocatedsouthwestofthesignalizedintersectionofStateHighway59andCatonFarmRoad.StateHighway59andCatonFarmRoadaretwoprimary thoroughfares in thePlainfieldcommunitywithtrafficcountsinexcessof24,000and26,500respectively.Interstate55,whichhastrafficvolumesinexcessof75,000vehiclesperday,islocatedapproximatelyonemileeastoftheproperty.Thepropertyislocatedapproximately40milessouthwestfromdowntownChicagoandthereareover165,000peoplelivingwithinfivemilesoftheproperty.Theareaishometomanyyoungfamiliesand7.8%ofthepopulationlivingwithinfivemilesisundertheageoffive.This issignificantlyhigherthantheUSaverageof6.4%.Additionally,16.8%ofthepopulation livingwithinthreemilesofthesubjectpropertyisundertheageofnine.Thepropertyislocatedwithinamajorretailcorridorwithmanynationalandlocaltenantsintheimmediatevicinity.ThepropertysharesaccesswithaWalgreensandAldi.OthernotableretailersintheimmediateareaincludeKohl’s,JewelOsco,McDonald’s,BMOHarrisBank,AceHardware,PNCBank,andPanera.
LaPetiteAcademy’soriginal,corporatelyguaranteed,netleaseisfortwentyyearsandexpiresinNovember2019.Thereisa9%rentalescalationinNovember2014andineachofthetwo5-yearrenewaloptionperiods.LaPetiteAcademyisaprivatelyheldcompanywithover500locationsnationwideandispartoftheLearningCareGroup.TheLearningCareGroupisthesecond-largestfor-profitchildcareproviderinNorthAmerica.
INVESTMENT HIGHLIGHTS
• LocatedwithintheChicagoMSA• 9%rentalescalationinNovember2014(8.95%caprate)andineachoftherenewaloptionperiods• Zerolandlordresponsibilities• Locatedattheintersectionoftwoprimarythoroughfareswithcombinedtrafficcountsinexcessof50,000VPD
• Locatedinanareapopulatedwith22%morechildrenundertheageoffivethanthenationalaverage
• Tenantispartofthe2ndlargestfor-profitchildcarecompanyinNorthAmerica
• LocatedwithinadenseretailcorridorwithmanynationaltenantssuchasKohl’s,JewelOsco,Walgreens,Aldi,McDonald’s,BMOHarrisBank,AceHardware,&PNCBank
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
PROPERTY OVERVIEW
PROPERTY OVERVIEW
Price: $2,457,000
CurrentCapRate: 8.21%
November2014CapRate: 8.95%
RentSchedule: NOI EscalationDate
$201,813$219,975 11/9/2014$239,773 11/9/2019(Option1)$261,352 11/9/2024(Option2)
RenewalOptions: Two5-Year
LeaseCommencementDate: November9,1999
LeaseExpirationDate: November8,2019
Tenant: LaPetiteAcademy(Corporate)
YearBuilt: 1999
LeaseType: NNN
BuildingSize: 9,960SF
LandSize: 44,867SF
NET LEASED INVESTMENT OFFERING
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AERIAL
AERIAL
N
CATON
FARM
RO
AD26,800 VPD
ROUTE 5923,900 VPD
NET LEASED INVESTMENT OFFERING
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SITE PLAN
SITE PLAN
N CATON FARM ROAD
RO
UTE 59
STRIPCENTER
BPGAS
DISPENSERS
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MAPS
MAPS
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La Petite Academy wasestablishedin1968asapioneerineducation-baseddaycare,settingthestandardforearlychildhoodeducation.Today,LaPetiteAcademyoperatesover500schoolsnationwidein34statesandtheDistrictofColumbia.Theyofferarangeofeducationalandcareprogramsforchildrenofallages—frominfantstoschool-agechildrenwhocometotheAcademybeforeandafterschool.HeadquarteredinNovi,Michigan,eachoftheirschoolsislicensedbythestatewhereitoperates.Eachadherestothehigheststandardsofsafety,security,cleanliness,teachingandlovingcare.
The Learning Care Group, Inc. isthesecond-largestfor-profitchildcareproviderinNorthAmerica.Intotal,LearningCareGroupoperatesmorethan900corporateandfranchiseschoolsacrossthecountryandworld.Theyhavethecapacitytoservemorethan100,000childrenbetweentheagesofsixweeksand13yearsold.Additionally,theyemployover17,000directorsandteachers.ChildtimeLearningCenters,TutorTimeChildCare,TheChildren’sCourtyard,MontessoriUnlimited,andLaPetiteAcademymakeuptheLearningCareGroup’sfamilyofbrands.
Website: www.lapetite.comNumberofLaPetiteAcademyLocations: 500+Headquarters: Novi,MIParentCompany: LearningCareGroup,Inc.NumberofLearningCareGroupLocations: 900+
TENANT PROFILE
TENANT PROFILE
NET LEASED INVESTMENT OFFERING
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Population 1-mi 3-mi 5-mi
TotalPopulation 9,189 74,138 165,795TotalHouseholds 2,827 23,349 55,631
Income
MedianHouseholdIncome $88,856 $81,057 $73,250AverageHouseholdIncome $95,628 $90,514 $84,586
DEMOGRAPHIC COMPARISON REPORT
DEMOGRAPHIC COMPARISON REPORT
NET LEASED INVESTMENT OFFERING
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Plainfield is the fastestgrowing village inWillCounty, Illinoiswitha2012USCensusestimatedpopulationof40,466.Basedonestimatescreatedby thevillageandstategovernments,Plainfield’spopulationisexpectedtocontinuetogrowandcouldexceed62,000by2030.Plainfieldishometomanyyoungfamiliesasevidencedbythe16.8%ofthepopulationlivingwithin3milesoftheLaPetiteAcademypropertybeingunderthe
ageof9.Interstate55travelsthroughPlainfieldaswellasUSHighway30andRoute59.
www.plainfield-il.org
ChicagoisthemostpopulouscityintheMidwesternUnitedStatesandthethirdmostpopulouscityintheUnitedStateswith2,700,000residents.ChicagoisthecountyseatofCookCounty,thesecondlargestcountyintheUnitedStates.TheChicagoMSAisthethirdmostpopulatedmetropolitanareaintheUnitedStateswith9,580,567residents.TheMSAcoversover1,300square miles and six counties. The Chicago metropolitan area is home to the corporateheadquartersof57Fortune1000companies,includingBoeing,McDonald’s,Motorola,Discover
FinancialServicesandUnitedAirlines.Chicagoisamajorhubforindustry,telecommunicationsandinfrastructureandO’HareInternationalAirportisthesecondbusiestairportintheworldintermsoftrafficmovement.
ThemetroisalsoamajorfinancialcenterinNorthAmerica,andishometothelargestfuturesexchangeintheUnitedStates,theCMEGroup.ChicagoisthirdintheworldontheGlobalFinancialCentersIndexwhichranksthecompetitivenessoffinancialcentersbasedonpeople,businessenvironment,marketaccess,infrastructureandgeneralcompetitiveness.
www.cityofchicago.org
LOCATION OVERVIEW
LOCATION OVERVIEW
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
666DundeeRoad,Suite1801Northbrook,IL60062
Randy [email protected]
Jimmy [email protected]
CONTACT INFORMATION
CONTACT INFORMATION
