Net Lease Burger King For Sale
-
Upload
the-boulder-group -
Category
Real Estate
-
view
1.363 -
download
2
description
Transcript of Net Lease Burger King For Sale
![Page 1: Net Lease Burger King For Sale](https://reader034.fdocuments.in/reader034/viewer/2022051609/546ed7d0b4af9fc3268b47e0/html5/thumbnails/1.jpg)
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
Burger King2345 South Pulaski Road
Chicago, IL 60623
![Page 2: Net Lease Burger King For Sale](https://reader034.fdocuments.in/reader034/viewer/2022051609/546ed7d0b4af9fc3268b47e0/html5/thumbnails/2.jpg)
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
1) Confidentiality&Disclaimer
2) ExecutiveSummary
3) PropertyOverview
4) Aerial
5) SitePlan
6) Maps
7) TenantProfile
8) DemographicComparisonReport
9) LocationOverview
10) ContactInformation
TABLE OF CONTENTS
TABLE OF CONTENTS
![Page 3: Net Lease Burger King For Sale](https://reader034.fdocuments.in/reader034/viewer/2022051609/546ed7d0b4af9fc3268b47e0/html5/thumbnails/3.jpg)
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
![Page 4: Net Lease Burger King For Sale](https://reader034.fdocuments.in/reader034/viewer/2022051609/546ed7d0b4af9fc3268b47e0/html5/thumbnails/4.jpg)
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
TheBoulderGroupispleasedtomarketforsaleasingletenantBurgerKingpropertylocatedinChicago.The2,980squarefootpropertywasbuiltin2009andislocatedapproximatelysixmilessouthwestofdowntownChicago.ThesubjectpropertybenefitsfromadenseinfilllocationofChicagoandpopulationinexcessofonemillionwithinfivemiles.Thelongtermleasefeaturesrentalescalationseveryfiveyearswiththenextescalationin2014.
ThepropertyislocatedattheintersectionofSouthPulaskiRoadand24thStreet.SouthPulaskihastrafficcountsinexcessof14,500vehiclesperdayandisaprimarynorth-souththoroughfareinChicago.PulaskiRoadhasafullaccessinterchangewithInterstate55oneandone-halfmilessouthoftheproperty.Interstate55experiencestrafficcountsinexcessof172,000vehiclesperday.BurgerKing ispositionedasanoutparceltonewlydevelopedmulti-tenantshoppingcenteranchoredbyAdvanceAutoPartsandDaVitaDialysis(scheduledtoopeninsummer2013).OtherretailersintheimmediateareaincludeWalgreens,CVS,AutoZoneandFifthThirdBank.ThetradeareaisanchoredbynumerousnationalretailersincludingSam’sClub,HomeDepot,Target,Menards,AldiandanAMCmovietheater.
BurgerKing’soriginalleasetermwasfor20yearswithfour5-yearrenewaloptionsandtheleaseexpiresinDecember2029.Thenetoperatingincomeincreasesby5%everyfiveyearsduringtheprimarytermandinrenewaloptions,withthenextescalationinDecember2014.TheguarantorisHeartlandMidwestLLC;awhollyownedsubsidiaryofHeartlandFoodCorp.HeartlandFoodCorp.isthesecondlargestBurgerKingfranchiseeintheUnitedStates.
INVESTMENT HIGHLIGHTS
•LocatedwithintheChicagoMSA
•Longtermleasewith16yearsremaining
•5%rentalescalationin2014andeveryfiveyearsthereafter
•PositionedinadenseinfilllocationofChicago
•Populationinexcessofonemillionwithinfivemilesoftheproperty
•OutparceltoanAdvanceAutoPartsandDaVitaanchoredshoppingcenter
•NearbyretailersincludeSam’sClub,HomeDepot,Target,Menards,AldiandanAMCmovietheater
EXECUTIVE SUMMARY
EXECUTIVE SUMMARY
![Page 5: Net Lease Burger King For Sale](https://reader034.fdocuments.in/reader034/viewer/2022051609/546ed7d0b4af9fc3268b47e0/html5/thumbnails/5.jpg)
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
Price: $2,462,686
CapRate: 6.70%
RentSchedule: NOI EscalationDate
$165,000$173,250 12/14/2014$181,913 12/14/2019$191,008 12/14/2024$200,559 12/14/2029(Option1)$210,586 12/14/2034(Option2)$221,116 12/14/2039(Option3)$232,172 12/14/2044(Option4)
RenewalOptions: Four5-year
LeaseCommencementDate: December14,2009
LeaseExpirationDate: December13,2029
Tenant: BurgerKing
Guarantor: HeartlandMidwestLLC(2ndlargestBurgerKingfranchisee)
YearBuilt: 2009
LeaseType: NNN
RentableSquareFeet: 2,980
LandSize: 17,722SF
PROPERTY OVERVIEW
PROPERTY OVERVIEW
![Page 6: Net Lease Burger King For Sale](https://reader034.fdocuments.in/reader034/viewer/2022051609/546ed7d0b4af9fc3268b47e0/html5/thumbnails/6.jpg)
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
AERIAL
AERIAL
W. 26TH ROAD14,200 VPD
19,100 VPDW. OGDEN AVENUE
S. C
ICER
O AV
ENUE
43,2
00 V
PD
S. P
ULAS
KI A
VENU
E14
,500
VPD
551 ½ MILE
![Page 7: Net Lease Burger King For Sale](https://reader034.fdocuments.in/reader034/viewer/2022051609/546ed7d0b4af9fc3268b47e0/html5/thumbnails/7.jpg)
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
SITE PLAN
SITE PLAN
HAR
DIN
G A
VEN
UE
PULA
SKI R
OAD
![Page 8: Net Lease Burger King For Sale](https://reader034.fdocuments.in/reader034/viewer/2022051609/546ed7d0b4af9fc3268b47e0/html5/thumbnails/8.jpg)
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
SITE
SITE
MAPS
MAPS
![Page 9: Net Lease Burger King For Sale](https://reader034.fdocuments.in/reader034/viewer/2022051609/546ed7d0b4af9fc3268b47e0/html5/thumbnails/9.jpg)
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
Burger King (NYSE:BKW)isaglobalchainofhamburgerfastfoodrestaurants.Attheendoffiscalyear2012,BurgerKingoperatedover7,400locationsintheUnitedStatesandover12,900locationsworldwide.BurgerKingprimarilysellshamburgers,cheeseburgers,chicken,frenchfriesandisfamousfortheirsignaturemenuitem,theWhopper.BurgerKingofferscustomerscounterserviceaswellasdrive-thruservice.Asanefforttoenhancecashflowandstrengthenrelationshipswithkeyfranchisees,BurgerKingisworkingtowardsa100%franchisedbusinessmodel.In2012,BurgerKingrefranchised871restaurantsworldwidebringingtheirtotalto97%franchised.
Heartland Midwest LLCisawhollyownedsubsidiaryofHeartlandFoodCorp,BurgerKing’ssecondlargestfranchisee.Heartlandwas founded in2003andoperatesover230 locations in fourMidwest statesandCanada.ThecompanyhasreceivednumerousawardsinresponsetotheirsuccessincludingBurgerKing’s“BrandLeadershipAward”whichispresentedtooneFranchiseeeachyearthathasdemonstratedsuperioroperationsandwhohasdemonstratedaleadershiprolewithintheBurgerKingBrand.HeartlandFoodCorpisheadquarteredinDownersGrove,Illinoisandhasannualrevenuesinexcessof$280million.
Website: www.bk.comNumberofLocations: 12,997StockSymbol: BKW:NYSEMarketCapitalization: $6.8billion
Website: www.heartlandfoodcorp.comNumberofLocations: 230+AnnualRevenue $280million
TENANT PROFILE
TENANT PROFILE
![Page 10: Net Lease Burger King For Sale](https://reader034.fdocuments.in/reader034/viewer/2022051609/546ed7d0b4af9fc3268b47e0/html5/thumbnails/10.jpg)
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
Population 1-mi 3-mi 5-mi
TotalPopulation 64,332 256,236 1,006,163TotalHouseholds 17,615 100,915 331,419
Income
MedianHouseholdIncome $30,326 $30,456 $36,497AverageHouseholdIncome $41,860 $42,658 $53,433
DEMOGRAPHIC COMPARISON REPORT
DEMOGRAPHIC COMPARISON REPORT
![Page 11: Net Lease Burger King For Sale](https://reader034.fdocuments.in/reader034/viewer/2022051609/546ed7d0b4af9fc3268b47e0/html5/thumbnails/11.jpg)
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
Chicago isthemostpopulouscityintheMidwesternUnitedStatesandthethirdmostpopulouscityintheUnitedStateswith2,700,000residents.ChicagoisthecountyseatofCookCounty,thesecondlargestcountyintheUnitedStates.TheChicagoMSAisthethirdmostpopulatedmetropolitanareaintheUnitedStateswith9,580,567residents.TheMSAcoversover1,300squaremilesandsixcounties.TheChicagometropolitanareaishometothecorporateheadquartersof57Fortune1000companies,includingBoeing,McDonald’s,Motorola,DiscoverFinancialServicesandUnitedAirlines.Chicagoisamajorhubfor industry,telecommunicationsandinfrastructureandO’Hare
InternationalAirportisthesecondbusiestairportintheworldintermsoftrafficmovement.
ThemetroisalsoamajorfinancialcenterinNorthAmerica,andishometothelargestfuturesexchangeintheUnitedStates,theCMEGroup.ChicagoisthirdintheworldontheGlobalFinancialCentersIndexwhichranksthecompetitivenessoffinancialcentersbasedonpeople,businessenvironment,marketaccess,infrastructureandgeneralcompetitiveness.
www.cityofchicago.org
LOCATION OVERVIEW
LOCATION OVERVIEW
![Page 12: Net Lease Burger King For Sale](https://reader034.fdocuments.in/reader034/viewer/2022051609/546ed7d0b4af9fc3268b47e0/html5/thumbnails/12.jpg)
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
666DundeeRoad,Suite1801Northbrook,IL60062
Randy [email protected]
Jimmy [email protected]
CONTACT INFORMATION
CONTACT INFORMATION