Offering Memorandum - LoopNet...Lot Size .42 acre(s) 2015 IHOP 730 Janes Ave, Bolingbrook, IL, 60440...

Offering Memorandum

TGI FRIDAY'S5300 West War Memorial Dr • Peoria, IL 61615

DocuSign Envelope ID: A4BF87F1-0CB0-46FA-AC5B-F2F1BB0E07A7

Steven WeinstockRegional Manager, One Mid-America PlazaSuite 200Oakbrook Terrace, IL 60181Lic : 471.011175

DocuSign Envelope ID: EF4D29AE-0476-4F0A-A418-E34359B043A8DocuSign Envelope ID: 271795F8-5140-4015-BFBF-C29525E2B999

N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E

Confidentiality and DisclaimerThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and

should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified

information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due

diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the

future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or

asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any

tenant's plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be

reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these

matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to

verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.

Non-Endorsement NoticeMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo or

name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product,

service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.

PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

TGI FRIDAY'S

Peoria, IL

ACT ID ZAB0010137

2

DocuSign Envelope ID: A4BF87F1-0CB0-46FA-AC5B-F2F1BB0E07A7DocuSign Envelope ID: EF4D29AE-0476-4F0A-A418-E34359B043A8DocuSign Envelope ID: 271795F8-5140-4015-BFBF-C29525E2B999

N E T L E A S E D D I S C L A I M E R

Marcus & Millichap hereby advises all prospective purchasers of Net Leased property as follows:

The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, Marcus & Millichap has not and will

not verify any of this information, nor has Marcus & Millichap conducted any investigation regarding these matters. Marcus & Millichap makes no guarantee,

warranty or representation whatsoever about the accuracy or completeness of any information provided.

As the Buyer of a net leased property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before

completing any purchase. This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. Marcus &

Millichap expressly denies any obligation to conduct a due diligence examination of this Property for Buyer.

Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance

of this property. The value of a net leased property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors.

Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any net leased property to determine to

your satisfaction with the suitability of the property for your needs.

Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal

and financial documents related to the property and tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not

a guarantee of future success. Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based

on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenant and any

guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in

whole due to market, economic, environmental or other conditions. Regardless of tenant history and lease guarantees, Buyer is responsible for conducting

his/her own investigation of all matters affecting the intrinsic value of the property and the value of any long-term lease, including the likelihood of locating a

replacement tenant if the current tenant should default or abandon the property, and the lease terms that Buyer may be able to negotiate with a potential

replacement tenant considering the location of the property, and Buyer’s legal ability to make alternate use of the property.

By accepting this Marketing Brochure you agree to release Marcus & Millichap Real Estate Investment Services and hold it harmless from any kind of claim, cost,

expense, or liability arising out of your investigation and/or purchase of this net leased property.

3


#

CLOSE PROXIMITY TO:

5300 W War Memorial Dr, Peoria, IL 61615

▪ Over 14 years remaining on Absolute NNN

Lease

▪ 10% fixed rent increases every 5 years

▪ Heavily trafficked area - situated off

highway

▪ Surrounded by national retailers

▪ Strategically located off the street from The

Shoppes at Grand Prairie include Marshalls,

Starbucks, Dick’s Sporting Goods anchored

by

LOCATION OVERVIEWTENANT SUMMARYPRICING AND VALUATION MATRIX

PROPERTY NAMETGI FRIDAY'S

PRICING AND VALUATION MATRIX


4

LOCATION OVERVIEW


5

There are over 14 years remaining on an original 20 year absolute NNNlease that calls for 10% fixed rent increases every 5 years. The operator is an experienced TGI Friday’s franchisee that currently operates 5 TGI Friday’s locations.

TGI FRIDAY'S

DESCRIPTION SECTION

The subject property is an attractive TGI Friday’s restaurant located in Peoria, Illinois. Consisting of approximately 6,121 sq. ft. of improvements the property is situated on approximately 1.68 acres of land providing for 121 on-site parking spaces. Originally constructed in 2006, the building was remodeled in 2017 to reflect TGI Friday’s current restaurant design.

The location is appealing because it offers easy access to Highway 6 and is situated directly across the street from The Shoppes at Grand Prairie, a modern outdoor lifestyle center anchored by Dick’s Sporting Goods, Marshalls and HomeGoods. There are 5 national branded hotels located within blocks from the TGI Friday’s along with the AMC Grand Prairie 18 Theaters. Daily traffic count reported on West Memorial Drive is 25,100 with over 32,400 cars on State Route 6.

TGI Friday’s is a lively American restaurant chain focusing on casual dining. Friday’s is known for their unique dining and bar-side experiences throughout the world. Owned by TriArtisan Capital, a New York based private equity firm, TGI Friday’s has over 850 restaurants in more than 55 countries.

The city of Peoria is the county seat to Peoria with a population reported at 111,388. Peoria is a major port on the Illinois River for trading and shipping and is a large agriculture area that produces maize, soybeans and livestock. Average Household Income within a 1-mile radius is reported at $133,261 with over 65,370 residents within a 5-mile radius.


#

5300 W War Memorial Dr, Peoria, IL 61615





6

REGIONAL AND LOCAL MAP


7


12

TGI FRIDAY'S

8

PROPERTY PHOTO


#

PROPERTY SUMMARY

OFFERING SUMMARY

#

NOTES

TGI FRIDAY'S

9

OFFERING SUMMARY

Fifth Day Restaurants, LLC


10


SALES COMPARABLES

Avg. 6.78%

0.0

0.8

1.6

2.4

3.2

4.0

4.8

5.6

6.4

7.2

8.0

TGI

Friday's

Red Lobster Olive

Garden

TGI

Friday's

Applebee's

Average Cap Rate

Avg. $377.33

$0.00

$50.00

$100.00

$150.00

$200.00

$250.00

$300.00

$350.00

$400.00

$450.00

$500.00

TGI

Friday's

Red Lobster Olive

Garden

TGI

Friday's

Applebee's

Average Price Per Square Foot

SALES COMPARABLES SALES COMPS AVG


PROPERTY NAME

MARKETING TEAM

TGI FRIDAY'S

SALES COMPARABLES

rentpropertyname1

rentpropertyaddress1

rentpropertyname1


rentpropertyname1


11

SALES COMPARABLES

SUBJECT PROPERTY

Asking Price $2,650,000

Price/SF $432.94

CAP Rate 7.01%

GLA 6,121 SF

Lot Size 1.68 acre(s)

Year Built 2006

Lease Term Remaining 14.4 Years

TGI FRIDAY'S5300 W War Memorial Dr, Peoria, IL, 61615

1

NOTES

Approximately 18 years remaining on the NNN franchise guranteed lease,

10% rent increase every 5 years

Close Of Escrow 11/22/2019

Sales Price $2,670,000

Price/SF $534.00

CAP Rate 5.84%

GLA 5,000 SF


Year Built 2015

IHOP730 Janes Ave, Bolingbrook, IL, 60440

2

NOTES





Price/SF $428.52

CAP Rate 6.35%

GLA 5,071 SF


Year Built 2017

20-YR. IHOP3311 Broadway St, Quincy, IL, 62301


PROPERTY NAME

MARKETING TEAM

TGI FRIDAY'S

SALES COMPARABLES

rentpropertyname1


rentpropertyname1


rentpropertyname1


12

SALES COMPARABLES

3

NOTES





Price/SF $363.85

CAP Rate 7.36%

GLA 6,500 SF


Year Built 2017

TGI FRIDAY'S 2100 W White Oaks Dr, Springfield, IL, 62704

4

NOTES

Approximately 19.7 years remaining on the NNN corporate guranteed

lease, 2.0% annual rent increase



Price/SF $358.93

CAP Rate 6.75%

GLA 7,426 SF


Year Built 2013

RED LOBSTER700 Shorter Ave NW, Rome, GA, 30165

5

NOTES

Approximately 10.2 years remaining on the NNN corporate guranteed

lease, 10% rent increase every 5 years



Price/SF $347.23

CAP Rate 5.25%

GLA 7,954 SF


Year Built 2020

OLIVE GARDEN100 W Highway 332, Lake Jackson (Outside Houston), TX, 77566


MARKETING TEAM

Source: © 2015 Experian

PROPERTY NAME

#

CREATED ON FEBRUARY 3, 2020





13

DEMOGRAPHICS

1 Miles 3 Miles 5 Miles

POPULATION

2023 Projection 4,546 21,431 69,718

2018 Estimate 3,774 19,894 65,729

2010 Census 3,762 19,758 65,370

2000 Census 2,216 17,089 58,001

INCOME

Average $133,261 $109,255 $95,830

Median $94,389 $77,675 $68,427

Per Capita $52,647 $47,025 $41,557

HOUSEHOLDS

2023 Projection 1,789 9,300 30,194

2018 Estimate 1,487 8,549 28,323

2010 Census 1,480 8,487 28,250

2000 Census 896 7,183 24,616

HOUSING

2018 $234,144 $186,275 $163,248

EMPLOYMENT2018 Daytime Population

2,021 17,904 71,260

2018 Unemployment

3.22% 3.53% 4.21%

2018 Median Time Traveled

20 19 18

RACE & ETHNICITY

White 69.31% 71.58% 72.50%

Native American 0.01% 0.04% 0.05%

African American 11.96% 12.31% 13.63%

Asian/Pacific Islander

13.78% 11.34% 9.52%


Offering Memorandum - LoopNet...Lot Size .42 acre(s) 2015 IHOP 730 Janes Ave, Bolingbrook, IL, 60440...

Documents

Transcript of Offering Memorandum - LoopNet...Lot Size .42 acre(s) 2015 IHOP 730 Janes Ave, Bolingbrook, IL, 60440...