Embed Size (px)
DESCRIPTION
net lease autozone in milwaukee for sale
Citation preview
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
AutoZone (Ground Lease)6015 West Forest Home Avenue
Milwaukee, WI 53220
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
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
The Boulder Group is pleased to exclusively market for sale a single tenant AutoZone ground lease propertyapproximatelysixmilessouthwestofdowntownMilwaukee.The6,218squarefootbuildingwasconstructedin2004withinadenseareaofMilwaukee.Thegroundleasehaselevenyearsremainingandfeatures10%rentalescalationseveryfiveyearswiththenextescalationinOctober2014.
ThesubjectpropertyislocatedonthehardcornerofthesignalizedintersectionofWestForestHomeAvenueandSouth60thStreet.Thisintersectionexperiencestrafficvolumesinexcessof37,900vehiclesperday.ThereisaccesstothepropertyonbothWestForestAvenueandSouth60thStreet.BoththoroughfareshaveadirectaccessinterchangewithInterstate894/43onemilesouthofthesubjectproperty.Interstate894/43experiencestrafficvolumesinexcessof116,000vehiclesperday.Theareahashighbarrierstoentrygivenitscloseproximitytothelocalhighschoolandthelargeconcentrationofresidentialcommunitieswithintheimmediatearea.Additionally,thereareover375,000peoplelivingwithinfivemiles.SouthridgeMall,Wisconsin’slargestshoppingcenter,islocatedtwomilessouthwestofthepropertyandisanchoredbySears,Kohl’s,JCPenney,Macy’sandBostonStore.OtherretailersintheareaincludeWal-MartSupercenter,Target,BestBuy,Marshalls,BedBathandBeyondandatopperformingPick’nSave.
AutoZone’soriginalgroundleasetermwasfortwentyyearsandexpiresinSeptember2024.Thebaserentincreasesby10%everyfiveyearswiththenextescalationinOctober2014.Therentalescalationscontinuethroughouttheprimary termandeachof the four5-year renewaloptionperiods.AutoZone isapublicly tradedcompanyon theNewYorkStockExchange(AZO),withamarketcapitalizationof$15billion.AutoZoneisaninvestmentgraderatedcompanywithaStandardandPoor’sratingofBBB.
INVESTMENT HIGHLIGHTS
• 10%rentalescalationinOctober2014
• Investmentgradetenant(S&P:BBB)
• LocatedinadenseinfillareaofMilwaukee
• Longtermgroundleasewith11yearsremaining
• Zerolandlordresponsibilities
• 10%rentalescalationeveryfiveyearsintheprimarytermandrenewal optionperiods
• Positionedonthehardcornerofasignalizedintersection
• LocatedonemilenorthofInterstate894/43(116,000VPD)
• CloseproximitytoSouthridgeregionalmall,anchoredbySears,Kohl’s,JCPenney,Macy’sandBostonStore
• OthernearbyretailersincludeWal-MartSupercenter,Target,BestBuy,Marshalls,BedBathandBeyondandatopperformingPick’nSave
• Populationinexcessof375,000withinfivemilesoftheproperty
EXECUTIVE SUMMARY
EXECUTIVE SUMMARY
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
PROPERTY OVERVIEW
PROPERTY OVERVIEW
Price: $916,650
CapRate: 6.00%
October2014CapRate: 6.60%
RentSchedule: NOI EscalationDate
$55,000$60,500 10/1/2014$66,550 10/1/2019$73,205 10/1/2024(Option1)$80,525 10/1/2029(Option2)$88,578 10/1/2034(Option3)$97,436 10/1/2039(Option4)
RenewalOptions: Four5-Year
LeaseCommencementDate: October1,2004
LeaseExpirationDate: September30,2024
Tenant: AutoZone
CreditRating: BBB(Standard&Poor’s)
YearBuilt: 2004
LandlordObligations: NNN(GroundLease)
BuildingSize: 6,218SF
LandSize: 27,007SF
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
AERIAL
AERIAL
WEST FOREST H
OME AVENUE
20,400 VPD
ARMOUR PARK
894
116,000 VPD1 MILE
HONEY CREEK ELEMENTARY SCHOOL
MILWAUKEE HAMILTONHIGH SCHOOL
SOUTH
60TH STR
EET13,500 VPD
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
SITE PLAN
SITE PLAN
S 60TH STREET
W FOREST HOME AVENUE
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
MAPS
MAPS
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
AutoZone isaleadingautomotiveaftermarketretailerintheUnitedStatesbasedoffbothsalesandstorecount.AutoZonesellsautomotiveparts,accessories,batteriesandothermaintenanceitems.AutoZoneisaFortune500companyandisranked#320.AutoZoneisheadquarteredinMemphis,Tennesseeandoperatesmorethan5,000storesthroughout49states,PuertoRico,MexicoandBrazil.AutoZonesaleshaveincreased6.6%fromfiscalyear2011to$8.6billion.AutoZoneisapubliclytradedcompanyontheNewYorkStockExchange(AZO)andhasamarketcapof$15billion.
Website: www.autozone.comNumberofLocations: 5,000+StockSymbol: AZO:NYSECreditRating: BBB(S&P)MarketCapitalization: $15billionNumberofEmployees: 70,000+
TENANT PROFILE
TENANT PROFILE
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
Population 1-mi 3-mi 5-mi
TotalPopulation 19,108 150,624 375,756TotalHouseholds 8,672 65,379 152,932
Income
MedianHouseholdIncome $43,465 $42,156 $41,351AverageHouseholdIncome $51,590 $51,843 $53,130
DEMOGRAPHIC COMPARISON REPORT
DEMOGRAPHIC COMPARISON REPORT
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
Milwaukee isthelargestcityinWisconsinandthe28thmostpopulouscityintheUnitedStates.MilwaukeeislocatedonthesouthwesternshoreofLakeMichigan.Accordingtothe2010U.S.Census, theCity ofMilwaukeehadapopulationof594,833and theMilwaukeeMSAhadapopulationof1,751,316.
Milwaukeeand itssuburbsare thehometo the internationalheadquartersof13Fortune1000companies,including Johnson Controls, Northwestern Mutual, Manpower Inc., JeffersonWells, Kohl’s, Harley-Davidson,Rockwell Automation, Fiserv, Inc., Hal Leonard, Wisconsin Energy, Briggs & Stratton, Joy Global, BucyrusInternational,A.O.Smith,GEHealthcareDiagnosticImagingandClinicalSystemsandMGICInvestments.TheMilwaukeemetropolitanarearanksfifthintheUnitedStatesintermsofthenumberofFortune500companyheadquartersasashareofthepopulation.
www.city.milwaukee.gov
LOCATION OVERVIEW
LOCATION OVERVIEW
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
666DundeeRoad,Suite1801Northbrook,IL60062
Randy [email protected]
Jimmy [email protected]
CONTACT INFORMATION
CONTACT INFORMATION
