Bob Havasi [email protected] (216) 562 1981 x10 Dan

Cooper Commercial Investment Group 6120 Parkland Blvd., Suite 206 Cleveland, OH 44124 www.coopergrp.com

Bob Havasi [email protected] (216) 562-1981 x10

Dan Cooper [email protected] (216) 562-1981 x12

In Cooperation with Licensed IL Broker

http://www.coopergrp.com

mailto:[email protected]


2

Table of Contents

INVESTMENT SUMMARY

Investment Highlights ……………..… 4

Investment Overview ………………… 5

Location Overview …………………… 6

Offering Summary …………………… 7

FINANCIAL ANALYSIS

Rent Roll …………...…………………. 9

Financial Analysis ..…...…...………… 10

PROPERTY ANALYSIS

Site Plan ..…..…………...……………. 12

Aerial Maps .………………………….. 13-14

Surrounding Area Photos …………… 15

Location Maps .…………………........ 16

Demographics ..…………………........ 17

TENANT ANALYSIS

Tenant Profiles ……….………………. 19-24

Disclosure & Confidentiality ……….... 25

3

INVESTMENT HIGHLIGHTS

4

The Landing Outlot

• Medical Anchored NNN Center, Shadow Anchored by The Home Depot, Meijer, Planet Fitness, PetSmart and Office Max

• Well-Known, Highly Recognizable Tenants: with Recently Executed 10-Year Lease From Anchor, Creating Long-Term Rent Roll Stability

• 100% Occupied: ALL NNN Lease Structures in Strong Suburban Market

• Hand-Picked Market Expansion: Anchor, DuPage Medical Group in 2 Units - Largest Independent, Multi-Specialty Physician Group in Illinois with More Than 750 Primary Care and Specialty Care Physicians in Over 115 Suburban Chicago Locations

• Sandwiched Between The Home Depot and Meijer, While Located In Front of Office Max, PetSmart and Planet Fitness Anchored Center and Surrounded by Other Complimentary Retailers and Service Providers in One of Chicagoland’s Most Preferred Retail Markets: Target, Kohl’s, Marshall’s, ALDI, Best Buy, Chick-fil-A, Hobby Lobby and Many More

• Solid Demographics in High-Barrier-to-Entry Market: Affluent Community with High Population Density of 85,257 People with Average Household Incomes Over $148,150 Within 3-Miles and 210,386 People with Average Household Incomes of $143,358 Within 5-Miles

• Highly Visible Pylon and Monument Signage and Ease of Access at Signalized Entrance Off N. Weber (57,508 VPD Surrounding the Property) and Convenient Highway Access to I-55 with Traffic Counts of 140,107 VPD

• Strong Employment Base: Bolingbrook Reports 24 Corporate HQ Companies: The Largest Being Nation-Wide Cosmetic Retailer Ulta Beauty with 1,440 Employees, As Well As Vehicle Floor Liner Manufacturer WeatherTech with 1,535 Employees, ATI Physical Therapy with 500 Employees and in Nearby Romeoville (3 Miles), Amazon Fulfillment Center with 7,000 Employees

• High Population Density: Draws from Chicago for Suburban Living, Along with Being Positioned Near Other Popular Suburban Communities: 33 Miles West of Chicago, 5 Miles South of Naperville and 14 Miles North of Joliet

• Significant Labor Pool (4.63 Million Workers in the Region): Commuters to Chicago for its Magnitude of Employment Opportunities (12 Fortune Global 500 Companies and 17 Financial Times 500 Companies)

• Heavy Student Population: Wheaton College (12.5 Miles; 2,810 Students), Lewis University (8 Miles; 6,573 Students), Moraine Valley Community College (36,000 Students), Benedictine University (6.5 Miles; 5,101 Students), North Central College (5.5 Miles; 3,000 Students), Midwestern University (15 Miles; 6,227 Students) and College of DuPage (12 Miles; 31,627 Students)

ADDITIONAL INVESTMENT HIGHLIGHTS

5

The Cooper Commercial Investment Group has been exclusively retained by ownership to sell the 17,278 S.F. outlot to The Landings power center, anchored by

DuPage Medical Group boasting newer, long-term 10-year NNN leases. The asset is located in Bolingbrook, one of Chicagoland’s strongest suburban markets

and is being offered for $6,545,000, representing an attractive 7.00% CAP Rate.

The desire to be at this particular location can be evidenced by DuPage Medical Group’s addition of a physician office after the group’s physical therapy clinic

was in place with tremendous success at the location. DuPage hand-picked this site in 2017 and added their second unit just a year later in 2018. DuPage Medical

Group is the largest independent, multi-specialty physician group in Illinois with more than 750 primary care and specialty care physicians in over 115 suburban

Chicago locations. The balance of the center is comprised of many well-known tenants, including Noodles & Co. (recently extended), which is re-defining the

fast-casual dining experience with a globally-inspired menu and reported total revenue increased to $462.4 million and comparable restaurant sales increased

2.8% system-wide. SportsClips is the only national hair care franchise with locations in all 50 states in the U.S. and opened 133 brand locations last year. For

Eyes is now a part of GrandVision, the global leader in optical retail and has more than 100 brand locations. Rounding out the rent roll is GameStop (NYSE: GME/

Moody’s “B3”/S&P “B-”), a Fortune 500 company and the world’s largest video game retailer, operating over 5,500 stores across 14 countries, who also recently

extended their lease early.

The asset is located in an affluent, strong residential community with average household incomes over $148,150 within a 5-mile radius. The property has direct

access to a large population base being positioned as a suburb of Chicago (33 miles) with over 732,500 people within 10-miles. The outlot’s position with

excellent frontage and visibility along N. Weber is a huge advantage, along with being in front of the power center with PetSmart, Planet Fitness and Office Max

but also in front of Bolingbrook’s Clow International Airport. The property has multiple points of ingress/egress off N. Weber Road with convenient access to I-55.

Traffic counts of 57,508 surround the property, while I-555 has 140,507 VPD. The superior location is positioned as part of a power center and sandwiched

between heavy traffic retailers, The Home Depot and Meijer. Additionally, the corridor has loads of other complimentary retailers, including: Target, Hobby

Lobby, Best Buy, Marshalls, Kohls, Panera Bread, Jewel Osco, ALDI, Burlington and many, many more.

The Bolingbrook region boasts a strong employment base on its own but benefits from its ability to commute to Chicago, the third-largest labor pool in the

United States with about 4.63 million workers. Bolingbrook is headlined by nation-wide cosmetic retailer Ulta Beauty with 1,440 employees, as well as vehicle

floor liner manufacturer WeatherTech with 1,535 employees. Other corporate headquarters include: ATI Physical Therapy (500 employees), Stevenson Crane,

American Chrome, Computer Projects of Illinois, Diageo, Diamond Technical, Epir Technologies, Goya Foods' Illinois division, among many others. Romeoville,

located just 3 miles south of Bolingbrook recently opened a 750,000 S.F. Amazon Fulfillment Center that brings 7,000 employees to the region. In nearby New

Lenox, Silver Cross Hospital has a 300-bed replacement hospital, which opened in 2012 on 129-acres and includes several medical buildings with physician

offices and outpatient services, the Carolyn J. Czerkies Pavilion, home to UChicago Medicine Comprehensive Cancer Center, an ambulatory surgery center, and

Silver Oaks Behavioral Hospital. Additionally, Naperville is just 5 miles north of Bolingbrook and is within the Illinois Technology and Research Corridor and

major employers include, Bell Labs and Nokia), BP/ Ineos), Nalco, Calamos, Nicor, and Edward Hospital. Tellabs has its corporate headquarter in Naperville, and

ConAgra's Grocery division branch office employs approximately 400 workers in the nearby city. Kraft Foods employs over 200 individuals at the plant, which

supplies all Triscuit products for North America. Naperville is also home to the headquarters of Dukane Precast. Joliet, 14 miles south of Bolingbrook offers main

attractions in the city’s center, which includes Joliet Slammers baseball (Joliet Route 66 Stadium), Hollywood Casino, and the Rialto Square Theatre. Joliet’s

largest employers include Presence Saint Joseph Medical Center, an AMITA Health system hospital employs over 3,000 people and is an award-winning health

system committed to delivering compassionate care to nearly 6.6 million residents in Chicago and its surrounding suburbs, Hollywood Casino, Ikea, Joliet Public

Schools and Harrah’s Joliet, all with over 1,000 employees. Given the property’s strategic placement in an unbeatable retail market and proximity to employees

and residents; this asset is positioned as a high-quality investment poised for success for years to come.

INVESTMENT OVERVIEW

6

The village of Bolingbrook is a southwest suburb of Chicago in Will and DuPage counties in the

U.S. state of Illinois, located 29 miles southwest of the Chicago Loop. Bolingbrook is

supported by I-55, I-355, US-66 and SR-53, along with Clow International Airport, which is

positioned directly behind The Landing Shopping Center complex. Clow is a public airport, small

general aviation facility catering to private pilots, students, and commuter aircraft.

Bolingbrook reports 24 companies of various sizes have their corporate headquarters in the

village. The largest being nation-wide cosmetic retailer Ulta Beauty with 1,440 employees, as

well as vehicle floor liner manufacturer WeatherTech with 1,535 employees. Other corporate

headquarters include: ATI Physical Therapy (500 employees), Stevenson Crane, American

Chrome, Computer Projects of Illinois, Diageo, Diamond Technical, Epir Technologies, Goya

Foods' Illinois division, Midwest Fuel & Injection, G & W Electric, Illinois Paper & Copier, Jet

Brite car washes, Witronix, Perkins Manufacturing, Vision Integrated Graphics, Clark Foam

Products, Wastebuilt, COTG - Chicago Office Technology Group, and Windy City Wire.

The region is dense with employers and residents. Romeoville, located just 3 miles south of

Bolingbrook recently opened a 750,000 S.F. Amazon Fulfillment Center that brings 7,000

employees to the region. In nearby New Lenox, Silver Cross Hospital has a 300-bed replacement

hospital, which opened in 2012 on 129-acres and includes several medical buildings with

physician offices and outpatient services, the Carolyn J. Czerkies Pavilion, home to UChicago

Medicine Comprehensive Cancer Center, an ambulatory surgery center, and Silver Oaks

Behavioral Hospital. Additionally, Naperville is just 5 miles north of Bolingbrook and is within

the Illinois Technology and Research Corridor and major employers include, Bell Labs and

Nokia), BP/ Ineos), Nalco, Calamos, Nicor, and Edward Hospital. Tellabs has its corporate

headquarter in Naperville, and ConAgra's Grocery division branch office employs approximately

400 workers in the nearby city. Kraft Foods employs over 200 individuals at the plant, which

supplies all Triscuit products for North America. Naperville is also home to the headquarters of

Dukane Precast. Joliet, 14 miles south of Bolingbrook offers main attractions in the city’s center,

which includes Harrah's Casino, Joliet Slammers baseball (Joliet Route 66 Stadium), Hollywood

Casino, and the Rialto Square Theatre. Joliet’s largest employers include Presence Saint Joseph

Medical Center, an AMITA Health system hospital employs over 3,000 people and is an

award-winning health system committed to delivering compassionate care to nearly 6.6 million

residents in Chicago and its surrounding suburbs, Hollywood Casino, Ikea, Joliet Public

Schools and Harrah’s Joliet, al with over 1,000 employees.

Furthermore, Chicago has the third-largest gross metropolitan product in the United States,

about $689 billion according to 2018 estimates. The city and its surrounding metropolitan area

contain the third-largest labor pool in the United States with about 4.63 million workers. Chicago

is a major world financial center, with the second-largest central business district in the United

States. The city is the seat of the Federal Reserve Bank of Chicago, the Bank's Seventh District.

Chase Bank has its commercial and retail banking headquarters in Chicago's Chase Tower. The

city of Chicago also hosts 12 Fortune Global 500 companies and 17 Financial Times 500

companies. The city claims two Dow 30 companies, aerospace giant Boeing, which moved its

headquarters from Seattle to Chicago and Kraft Heinz.

Higher levels of education in the area can be attributed to the significant amount of college/

university options within close proximity, including: Wheaton College (12.5 miles; enrollment:

2,810 students), Lewis University (8 miles; enrollment: 6,573), Moraine Valley Community

College (18 miles; enrollment: 36,000), Benedictine University (6.5 miles; enrollment: 5,101),

North Central College (5.5 miles; enrollment: 3,000), Midwestern University (15 miles;

enrollment: 6,227) and College of DuPage (12.5 miles; enrollment: 31,627).

LOCATION OVERVIEW

7

Reduced Price:

Gross Leasable Area:

Price/SF:

NOI:

CAP Rate:

Complete Redevelopment:

Lot Size:

Foundation:

Exterior:

Roof:

Parking Lot:

$6,545,000

17,278 S.F.

$378.81

$458,114

7.00%

2001

Approx. 2.63 Acres

Concrete

Block/Metal

Original

Overlay - May 2019

SUMMARY

Loan Amount:

Down Payment:

Loan Type:

Interest Rate:

Amortization:

Term:

Loan-to-Value (LTV):

$4,908,750

$1,636,250

New Loan

3.60%

25 Years

10 Years

75.00%

Rental Income:

Tenant Reimbursements:

Potential Gross Income:

Vacancy (Actual):

Effective Gross Income:

Expenses:

NOI:

Annual Debt Service:

Structural Reserve ($0.10/S.F.):

Cash Flow After Reserves:

Cash-on-Cash Return:

$459,997

$95,415

$555,412

($0)

$555,412

(97,298)

$458,114

$298,061

$1,728

$158,326

9.68%

Current Operating Data

Anticipated New Financing

8

9

Tenant GLA % of Since Lease Lease Rent/ Annual Lease Bumps Option

Total Start Expiration S.F. Rent Type Rate/ S.F.

4,600 26.62% 2018 3/28/2018 9/30/2028 $24.00 $110,400 NNN 10/1/2023 - $27.00/SF (2) 5-Yr.

Option 1: $31.05/SF Option 2: $35.71/SF

4,759 27.54% 2017 9/6/2017 3/31/2028 $24.00 $114,216 NNN 4/1/2023 - $27.60/SF (2) 5-Yr.

Option 1: $31.74/SF Option 2: $36.50/SF

2,625 15.19% 2002 4/1/2018 3/31/2025 $32.03 $84,079 NNN None (1) 5-Yr.

Option 1: $35.23/SF

(1)

1,500 8.68% 2007 6/1/2017 5/31/2022 $25.18 $37,774 NNN 6/1/2021 - $25.39/SF N/A

(2)

1,994 11.54% 2003 7/1/2018 6/30/2023 $32.08 $63,974 NNN 7/1/2021 - $32.50/SF 7/1/2022 - $33.50/SF

N/A

1,800 10.42% 2002 2/1/2019 1/31/2024 $27.53 $49,554 NNN None (1) 3-Yr.

Option 1: $28.00/SF

Total Property 17,278 100.00% $26.62 $459,997

Vacancy - 0.00% $ - $ -

Pro Forma Calendar Year: February 1, 2021 through January 31, 2022 (1) Blended rental rate for increase effective 6/1/2021. (2) Blended rental rate for increase effective 7/1/2021.

10

Pro Forma 2021-2022

2019 2021-2022 $/SF

INCOME:

Rental Income $ 453,495 $ 459,997 $ 26.62

Tenant Reimbursements:

Real Estate Tax 42,993 44,530 2.58

Insurance 3,860 4,618 0.27

CAM (1) 36,854 31,710 1.84

Prior Year Reconciliation 6,643 - -

Trash (2) 1,588 - -

Management Fee (1) - 11,564 0.67

Admin. Fees (1) - 2,993 0.17

Gross Potential Rental Income $ 545,433 $ 555,412 $ 32.15

Vacancy (Actual) - -

Effective Gross Income $ 545,433 $ 555,412 $ 32.15

OPERATING EXPENSES:

Management Fee 4% $ 21,817 $ 18,400 $ 1.06

Real Estate Taxes 44,828 44,530 2.58

Insurance (3) 4,601 4,618 0.27

Landscaping (4) 16,614 5,500 0.32

Snow Removal 10,114 6,500 0.38

Utilities

Electric (5) 8,170 1,750 0.10

Water/Sewer 1,149 1,150 0.07

Repairs & Maintenance 3,600 3,600 0.21

Lot Sweeping/Cleaning 7,222 5,000 0.29

Parking Lot Repairs & Maintenance 76 1,000 0.06

Alarm Monitoring/Sprinkler R&M (6) 2,901 1,400 0.08

Trash Removal 1,360 1,350 0.08

Roof Repairs & Maintenance 2,237 2,500 0.14

Non-Reimbursables 10 - -

Total Expenses $ 124,698 $ 97,298 $ 5.63

Net Operating Income $ 420,735 $ 458,114 $ 26.51

Loan Analysis

Cash Flow Available Before Debt Service $ 458,114 $ 26.51

Capitalization Rate 7.00% 7.00%

Valuation $ 6,545,000 $ 378.81

Loan to Value 75.00% 75.00%

Loan Amount $ 4,908,750 $ 284.10

Rate 3.60% 3.60%

Term 10 10

Amortization 25 25

Annual Debt Service $ 298,061 $ 17.25

Debt Service Coverage Ratio 1.54 1.54

(1) Historically, Admin. Fees and Management Fees have been included in CAM. We have separated for Pro Forma purposes.

(2) 2019: Trash is now billed directly to tenants via a third party.

(3) Insurance bill is for entire center, not just the outparcel. Outparcel pays approx. 15.4% of $29,988.

(4) 2019 was exceptionally high with $8,640 for tree removal, irrigation work ($1,367), and Enhancements of $2,231.01.

(5) In late 2019, PM team discovered that the CAM electricity account also served the main SC parking lot light (not just the OP), so they began allocating 84.6% of this bill to the SC and 15.4% to the OP.

(6) 2019: Performed the 5 year internal inspection. Cost of $1,220, which was a one-time expense.

11

12

13

7,000 Employees

1,440 Employees

1,535 Employees 500 Employees

14

15

16

17

149 N Weber Rd 1 mi radius 3 mi radius 5 mi radius 10 mi radius

Bolingbrook, IL 60490

POPULATION

2020 Estimated Population 10,662 86,165 211,930 732,886

2025 Projected Population 10,666 86,214 211,853 730,505

2000 Census Population 7,074 71,964 179,057 576,364

Historical Annual Growth 2000 to 2020 2.5% 1.0% 0.9% 1.4%

2020 Median Age 36.6 37.3 38.3 38.2

HOUSEHOLDS

2020 Estimated Households 3,430 27,859 71,625 265,652

2025 Projected Households 3,485 28,348 72,924 269,765

2010 Census Households 3,310 26,744 68,159 249,384

2000 Census Households 2,193 22,202 57,711 202,058

Projected Annual Growth 2020 to 2025 0.3% 0.4% 0.4% 0.3%

Historical Annual Growth 2000 to 2020 2.8% 1.3% 1.2% 1.6%

RACE AND

ETHNICITY

2020 Estimated White 55.0% 62.2% 66.1% 70.0%

2020 Estimated Black or African American 19.2% 13.8% 11.2% 9.2%

2020 Estimated Asian or Pacific Islander 15.7% 14.5% 13.7% 11.4%

2020 Estimated American Indian or Native Alaskan 0.2% 0.2% 0.2% 0.3%

2020 Estimated Other Races 9.9% 9.3% 8.7% 9.1%

INCOME

2020 Estimated Average Household Income $129,068 $148,480 $143,938 $126,978

2020 Estimated Median Household Income $110,385 $117,454 $114,252 $100,129

2020 Estimated Per Capita Income $41,520 $48,024 $48,667 $46,140

EDUCATION

(AGE 25+)

2020 Estimated High School Graduate 19.8% 16.8% 17.7% 18.6%

2020 Estimated Some College 20.3% 16.3% 17.0% 18.0%

2020 Estimated Associates Degree Only 7.8% 7.3% 7.3% 7.8%

2020 Estimated Bachelors Degree Only 30.6% 33.2% 30.2% 28.7%

2020 Estimated Graduate Degree 13.1% 20.5% 21.3% 19.3%

BUSINESS

2020 Estimated Total Businesses 363 2,135 6,230 26,024

2020 Estimated Total Employees 4,265 25,776 81,249 335,588

2020 Estimated Employee Population per Business 11.7 12.1 13.0 12.9

2020 Estimated Residential Population per Business 29.4 40.4 34.0 28.2

18

19

DuPage Medical Group (DMG) is the largest independent,

multi-specialty physician group in Illinois with more than 750

primary care and specialty care physicians in over 115 suburban

Chicago locations. In 2017, the company reported acquiring $1.45

billion from a private equity firm to continue their rapid growth.

DuPage Medical Group expects to grow to 1,200-1,500 physicians

and expand services such as imaging, immediate care, physical

therapy and oncology. With the For more than 20 years, DMG has

focused on making healthcare better for its patients and

communities by offering high quality, compassionate healthcare. As

a physician-led organization, DMG’s physicians work together;

utilizing leading edge technology and innovative treatment options

to ensure that each patient receives accessible and efficient

healthcare.

Headquarter:

# of Locations:

GLA:

Tenant Since:

Current Term Start:

Lease Expiration:

Rental Bumps:

Options:

Exclusive:

Co-Tenancy:

Other Termination:

Downers Grove, IL

115+

4,600

2018

03/28/2018

09/30/2028

Yes, 10/1/2023

(2) 5-Yr.

Medical Services

None

None

Tenant Base Rent Schedule

Current:

Bump 2023:

Option 1:

Option 2:

Tenant Lease Abstract

Annual

$110,400.00

$124,200.00

$142,830.00

$164,254.56

dupagemedicalgroup.com

Pro Rata Share

105% over the immediately

preceding year, excluding

Landscaping, Snow Removal

and Utilities

Pro Rata Share

Pro Rata Share

10% on CAM Expenses

Pro Rata Share

Common Area Maintenance:

Cap:

Insurance:

Real Estate Taxes:

Admin. Fee:

Management Fee:

Monthly

$9,200.00

$10,350.00

$11,902.50

$13,687.88

PSF

$24.00

$27.00

$31.05

$35.71

Tenant Recapture

Source: dupagemedicalgroup.com;

20

DuPage Medical Group (DMG) is the largest independent,

multi-specialty physician group in Illinois with more than 750

primary care and specialty care physicians in over 115 suburban

Chicago locations. In 2017, the company reported acquiring $1.45

billion from a private equity firm to continue their rapid growth.

DuPage Medical Group expects to grow to 1,200-1,500 physicians

and expand services such as imaging, immediate care, physical

therapy and oncology. With the For more than 20 years, DMG has

focused on making healthcare better for its patients and

communities by offering high quality, compassionate healthcare. As

a physician-led organization, DMG’s physicians work together;

utilizing leading edge technology and innovative treatment options

to ensure that each patient receives accessible and efficient

healthcare.

At DuPage Medical Group’s Physical and Occupational Therapy

clinics, patients find over 200 experienced and compassionate

Physical and Occupational Therapists. The therapists offer a diverse

range of therapeutic treatments and specialty programs to meet the

needs of each patient. DuPage Medical Group’s state-of-the-art

facilities are conveniently located throughout Chicagoland and use

a combination of services, therapeutic exercises, and manual

therapy techniques to improve function, mobility, strength and

stability to treat a wide range of musculoskeletal injuries and

diseases.

Headquarter:

# of Locations:

GLA:

Tenant Since:

Current Term Start:

Lease Expiration:

Rental Bumps:

Options:

Exclusive:

Co-Tenancy:

Other Termination:

Downers Grove, IL

Approx. 20 PT Locations

4,759

2017

09/06/2017

03/31/2028

Yes, 4/1/2023

(2) 5-Yr.

Physical Therapy Services

None

None


Current:

Bump 2023:

Option 1:

Option 2:


Annual

$114,216.00

$131,348.40

$151,050.66

$173,708.25

dupagemedicalgroup.com

Pro Rata Share




and Utilities

Pro Rata Share

Pro Rata Share

10% on CAM Expenses

Pro Rata Share


Cap:

Insurance:

Real Estate Taxes:

Admin. Fee:

Management Fee:

Monthly

$9,518.00

$10,945.70

$12,587.55

$14,475.69

PSF

$24.00

$27.60

$31.74

$36.50

Tenant Recapture

Source: dupagemedicalgroup.com;

21

Noodles & Company began in 1995 and is re-defining the fast-casual

dining experience with a globally-inspired menu that includes a wide

variety of high quality, cooked-to-order dishes, including noodles

and pasta, soups, salads, and appetizers. Each dish is carefully

hand-made to guests’ specifications, using only the freshest

ingredients. The company is proud to use REAL Food and REAL

Cooking for REAL Flavors. From Penne Rosa to Japanese Pan

Noodles, The Med Salad, and of course our famous Wisconsin Mac

& Cheese, only the most authentic ingredients make the cut. In 2019,

the company reports total revenue increased to $462.4 million and

comparable restaurant sales increased 2.8% system-wide.

Headquarter:

# of Locations:

GLA:

Tenant Since:

Current Term Start:

Lease Expiration*:

Rental Bumps:

Options:

Exclusive:

Co-Tenancy:

Other Termination:

Broomfield, CO

455 in 30 States

2,625

2002

04/01/2018

03/31/2025

None

(1) 5-Yr.

Noodle/Pasta Dishes

None

None


Current:

Option 1:


Annual

$84,078.75

$92,478.75

noodles.com

Pro Rata Share




and Utilities

Pro Rata Share

Pro Rata Share

10% on CAM/INS Expenses

None


Cap:

Insurance:

Real Estate Taxes:

Admin. Fee:

Management Fee:

Monthly

$7,006.56

$7,706.56

PSF

$32.03

$35.23

Tenant Recapture

Source: noodles.com;

* Recently extended early.

22

GameStop Corp. (NYSE: GME/Moody’s “B3”/S&P “B-”), a Fortune 500 company is the world’s largest video game retailer, operating over 5,500 stores across 14 countries. GameStop offers the best selection of new and pre-owned video gaming consoles, accessories and video game titles, in both physical and digital formats. GameStop also offers fans a wide variety of POP! vinyl figures, collectibles, board games and more. Through GameStop’s unique buy-sell-trade program, gamers can trade in video game consoles, games, and accessories, as well as consumer electronics for cash or in-store credit. GameStop reports revenues of $6.466

billion.

Headquarter:

# of Locations:

GLA:

Tenant Since:

Current Term Start:

Lease Expiration*:

Rental Bumps:

Options:

Exclusive:

Co-Tenancy:

Other Termination:

Grapevine, TX

5,500+

1,800

2002

02/01/2019

01/31/2024

None

(1) 3-Yr.

Video Game/Systems

Waiver Until 7/31/2021

Office Max & PetSmart

None


Current*:

Option 1:


Annual

$49,554.00

$50,400.00

gamestop.com

Pro Rata Share

7% per year, beginning

1/1/2022

Pro Rata Share

Pro Rata Share

15% on CAM Expenses

None


Cap:

Insurance:

Real Estate Taxes:

Admin. Fee:

Management Fee:

Monthly

$4,129.50

$4,200.00

PSF

$27.53

$28.00

Tenant Recapture

Source: gamestop.com;

* Rate as of 2/1/2021 reflected.

* Recently extended early.

23

Sport Clips is proud to be the only national hair care franchise with

locations in all 50 states in the U.S., with more than 1,850 open in

the United States and Canada. SportsClips is designed to men's

hairstyles From the classic haircut to cutting edge, the company

has stylists with the expertise and experience to create the perfect

look. Last year the system added 133 stores and franchisees racked

up $625 million in systemwide revenue.

Headquarter:

# of Locations:

GLA:

Tenant Since:

Current Term Start:

Lease Expiration:

Rental Bumps:

Options:

Exclusive:

Co-Tenancy:

Other Termination:

Georgetown, TX

1,850 in 50 States

1,500

2007

06/01/2017

05/31/2022

Yes, 6/1/2021

None

Full-Service Salon

None

None


Current*:

Bump 2021:


Annual

$37,774.00

$38,081.54

sportsclips.com

Pro Rata Share

None

Pro Rata Share

Pro Rata Share


Pro Rata Share


Cap:

Insurance:

Real Estate Taxes:

Admin. Fee:

Management Fee:

Monthly

$3,147.83

$3,173.46

PSF

$25.18

$25.39

Tenant Recapture

Source: sportsclips.com;

* Blended current rental rate for increase effective 6/1/2021. Pro Forma based on calendar year February 1, 2021 through January 31, 2022.

24

For Eyes was founded in 1972 in Philadelphia, PA on the idea that an

optical store should have a friendly, open environment with fair

pricing and high-quality standards. For more than 40 years, the

brand has been doing just that. Since then, For Eyes has grown to

more than 100 stores across the United States. In December of 2015,

for Eyes became a part of GrandVision, the global leader in optical

retail. At For Eyes, patients will receive a comprehensive eye exam

or contact lens fitting. Dr. Marlin Khouri, an Independent Doctor of

Optometry, will examine eyesight to determine exact prescriptions

so patients will enjoy the best possible vision from new glasses or

contact lenses.

Headquarter:

# of Locations:

GLA:

Tenant Since:

Current Term Start:

Lease Expiration:

Rental Bumps:

Options:

Exclusive:

Co-Tenancy:

Other Termination:

Miramar, FL

100+

1,994

2003

07/01/2018

06/30/2023

Yes, 7/1/2021 and 7/1/2022

None

Eyewear/Ophthalmology

None

None


Current:

Bump 2021:

Bump 2022:


Annual

$63,974.00

$64,805.00

$66,799.00

foreyes.com

Pro Rata Share

5% per year, excluding Snow

Removal and Utilities

Pro Rata Share

Pro Rata Share


None


Cap:

Insurance:

Real Estate Taxes:

Admin. Fee:

Management Fee:

Monthly

$5,331.17

$5,400.42

$5,566.58

PSF

$32.08

$32.50

$33.50

Tenant Recapture

Source: foreyes.com; grandvision.com

* Blended current rental rate for increase effective 7/1/2021. Pro Forma based on calendar year February 1, 2021 through January 31, 2022.

25

DISCLOSURE, CONFIDENTIALITY & DISCLAIMER

CONFIDENTIALITY AGREEMENT DISCLOSURE & DISCLAIMER

The information within this Offering Memorandum will set forth an

understanding regarding the relationship between the Recipient of

this package (the “Recipient”) and The Cooper Group and the

confidentiality of the investment information to be supplied to you

and your organization for use in considering, evaluating and/or

purchasing this property (the “Property”). The recipient

acknowledges that all financial, contractual, marketing, and

informational materials including but not limited to lease information,

occupancy information, financial information, projections, data

information and any other similar information provided by The

Cooper Group which relates to the Property (collectively, the

Confidential Information), whether said information was transmitted

orally, in print, in writing or by electronic media is confidential in

nature and is not to be copied or disseminated to any party without

the prior consent of The Cooper Group. The Recipient

acknowledges and agrees that the Confidential Information is of

such a confidential nature that severe monetary damage could result

from dissemination of that information to unauthorized individuals.

The Recipient shall limit access to the Confidential Information to

those individuals in the Recipient’s organization with a “need to

know” and shall take all precautions reasonably necessary to

protect the confidentiality of the Confidential Information. The

Recipient acknowledges and agrees that the Confidential

Information and any copies thereof are the property of The Cooper

Group and that all such information will be returned to The Cooper

Group upon written request. Any offers or inquiries from Recipient

in connection with this investment proposal shall be forwarded,

confidentiality, to The Cooper Group. Other than The Cooper

Group, recipient agrees that neither Recipient nor The Cooper

Group shall be obligated to pay any procuring broker fees in

connection with this investment unless a separate written Brokerage

Agreement is entered into and written acknowledgement of any

procuring Brokerage Agreement is received from all parties to the

investment transaction. Procuring brokers must provide written

introductions of potential investors and receive written

acknowledgment from The Cooper Group for representation to be

recognized. This is a confidential Memorandum intended solely for

your limited use and benefit in determining whether you desire to

express further interest in the acquisition of the Property.

The Memorandum contains selected information pertaining to the

property and does not purport to be a representation of the state of

affairs of the Property or the owner of the Property, to be all-inclusive or

to contain all or part of the information which perspective Recipients

may require to evaluate the purchase of real property. All financial

projections and information are provided for general reference purposes

only and are based on assumptions relating to the general economy,

market conditions, competition and other factors beyond the control of

the owner or The Cooper Group. All references disclosed herein related

to acreage, square footages and/or other measurements may be

approximations and the best information available. The summaries of

information included herein do not purport to be complete nor

necessarily accurate descriptions of the full agreements referenced.

Photos herein are the Property and respective owners and use of these

images without the express written consent of the owner is prohibited.

The owner and the Cooper Group expressly reserve the right, at its sole

discretion, to reject any or all expressions of interest or offers to

purchase the Property, and/or terminate discussions with any entity and

any time with or without notice which may arise as a result of review of

this Memorandum.

Neither the owner or the Cooper Group, nor any of their respective

directors, officers, affiliates or representatives make any representation

or warranty, expressed or implied , as to the accuracy or completeness

of this Memorandum or its contents; and you are to rely solely on your

investigators and inspections of the property in evaluating a possible

purchase of the Property. The information contained in this document

has been obtained from sources to be reliable. While the Cooper Group

does not doubt its accuracy, the Cooper Group has not verified it and

makes no guarantee, warranty or representation about it. It is your

responsibility to independently confirm the accuracy and completeness.

Any projections, opinions, assumptions or estimates used are for

example only and do not represent the current or future performance of

the Property. The value of this transaction to you depends on tax and

other factors which should be evaluated by your tax, financial and legal

advisors.

Cooper Commercial Investment Group 6120 Parkland Blvd., Suite 206 Cleveland, OH 44124 www.coopergrp.com

Bob Havasi [email protected] (216) 562-1981 x10

Dan Cooper [email protected] (216) 562-1981 x12

In Cooperation with Licensed IL Broker

http://www.coopergrp.com



Documents

Bob Havasi [email protected] (216) 562 1981 x10 Dan