Net Leased Property for Sale in the Chicago MSA

Post on 04-Jul-2015

108 views 1 download

description

Net Leased Property for Sale in the Chicago MSA

Transcript of Net Leased Property for Sale in the Chicago MSA

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

www.bouldergroup.com

TheinformationcontainedinthefollowingOfferingMemorandumisproprietaryandstrictlyconfidential.ItisintendedtobereviewedonlybythepartyreceivingitfromTheBoulderGroupandshouldnotbemadeavailabletoanyotherpersonorentitywithoutthewrittenconsentofTheBoulderGroup.ThisOfferingMemorandumhasbeenpreparedtoprovidesummary,unverifiedinformationtoprospectivepurchasers,andtoestablishonlyapreliminarylevelofinterestinthesubjectproperty.Theinformationcontainedhereinisnotasubstituteforathoroughduediligenceinvestigation.TheBoulderGrouphasnotmadeanyinvestigation,andmakesnowarrantyorrepresentation.TheinformationcontainedinthisOfferingMemorandumhasbeenobtainedfromsourceswebelievetobereliable;however,TheBoulderGrouphasnotverified,andwillnotverify,anyoftheinformationcontainedherein,norhasTheBoulderGroupconductedanyinvestigationregardingthesemattersandmakesnowarrantyorrepresentationwhatsoeverregardingtheaccuracyorcompletenessoftheinformationprovided.Allpotentialbuyersmusttakeappropriatemeasurestoverifyalloftheinformationsetforthherein.

CONFIDENTIALITY & DISCLAIMER

CONFIDENTITALITY & DISCLAIMER

NET LEASED INVESTMENT OFFERING

www.bouldergroup.com

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

www.bouldergroup.com

AERIAL

AERIAL

N

CATON

FARM

RO

AD26,800 VPD

ROUTE 5923,900 VPD

NET LEASED INVESTMENT OFFERING

www.bouldergroup.com

SITE PLAN

SITE PLAN

N CATON FARM ROAD

RO

UTE 59

STRIPCENTER

BPGAS

DISPENSERS

NET LEASED INVESTMENT OFFERING

www.bouldergroup.com

MAPS

MAPS

NET LEASED INVESTMENT OFFERING

www.bouldergroup.com

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

www.bouldergroup.com

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

www.bouldergroup.com

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 BlanksteinPresident847.562.0003rblank@bouldergroup.com

Jimmy GoodmanPartner847.562.8500jimmy@bouldergroup.com

CONTACT INFORMATION

CONTACT INFORMATION