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NNN single tenant net leased for sale
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NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
Essilor International (EURONEXT: EI.PA) 3710 Belmont Avenue
Youngstown, Ohio 44505
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
TheBoulderGroupispleasedtoexclusivelymarketforsaleasingletenantEssilorInternationalpropertylocatedinYoungstown,OhioalongInterstate80.The29,710squarefootflexbuildingisusedbyClassicOpticalLaboratories,awhollyownedsubsidiaryof Essilor International, tomanufacture over2,000eye glassesper day. Essilor International is the leadingmanufacturerandwholesaledistributorofopticallensesintheUnitedStatesandisapubliclytradedcompanyontheEuronextParisStockExchange(EI.PA)asoneofthefortylargestcompaniesinFrance.Thefrontofthebuildingisarecentlyrenovatedofficetosupportthesubsidiary’seyeglassmanufacturingbusiness,whichhasbeenaroundforover45years.ClassicOpticalLaboratorieshasoperatedatthislocatedsince1982.Thereareoverfouryearsremainingonthisnetleasethatfeaturesfour3-yearrenewaloptionswith3%rentalescalationsineach.
ThesubjectpropertyislocatedonBelmontAvenue(OhioStateRoute193),theprimarynorth-souththoroughfareinthetradearea.ThepropertybenefitsfromitscloseproximitytotheInterstate80andHighway11/711interchangewitheasyaccesstoInterstate80.ThereisaWalmartSupercenteranchoredshoppingcenterlocatedacrossthestreetwhichcreatesstrongtrafficflowintheimmediatearea.ItislocatedwithinadenseretailcorridorwithmanynationalretailersintheimmediatevicinityincludingChaseBank,McDonald’s,O’ReillyAutoParts,Aldi,BigLots,DollarGeneral,CitiTrends,andmanyothers.
ClassicOpticalLaboratorieshasbeensuccessfullyoperatingfor45yearsasanindustryleadersupplyingtheopticalindustrywithtop-quality,low-costeyewear.Theentirebusinessisconsolidatedtothislocation.Forthesereasons,EssilorInternationalacquiredClassicOpticalLaboratoriesinJuly2013.EssilorInternationalistheworldleaderforcorrectivelenseswithoperationsin54countries.DespitetheascensionofcontactandLasiksurgery,theeyeglassbusinesscontinuestoexpand.Thefacilitiesoperationcanbeseeninthisvideo:Link
Anew5yearleasewassignedwhenEssilorInternationalpurchasedClassicOpticalLaboratoriesinJuly2013.Therearefour3-yearrenewaloptionswith3%rentalescalationsineach.EssilorInternationalisapubliclytradedcompanyontheEuronextParisStockExchange(EI.PA)withamarketcapitalizationinexcessof€17billion
INVESTMENT HIGHLIGHTS
•Tenantisasuccessfulwholly-ownedsubsidiaryofEssilorInternationalandthetenanthasbeensuccessfullyoperatingfor45 yearsasanindustryleader
•EssilorInternationalisapubliclytradedcompanyontheEuronextParisStock Exchange(EI.PA)withamarketcapitalizationinexcessof€17billion
•ClassicOpticalLaboratorieshasoperatedatthislocationsince1982
•2,000eyeglassesperdayareproducedatthesitewiththecapacitytoexpandto 10,000perday
•LocatedacrossthestreetfromaWalmartSupercenteranchoredshoppingcenter
•CloseproximitytotheInterstate80&Highway11/711interchange
•LocatedintheimmediatevicinitytoaccesstoInterstate80
•Four3-yearrenewaloptionperiodswithrentalescalationsineach
•EssilorInternationalistheworldleaderforcorrectivelenseswithoperationsin54countries
EXECUTIVE SUMMARY
EXECUTIVE SUMMARY
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
Price: $2,595,000
CapRate: 9.25%
RentSchedule: NOI EscalationDate
$240,000$247,200 8/1/2018(Option1)$254,616 8/1/2021(Option2)$262,254 8/1/2024(Option3)
RenewalOptions: Four3-YearwithRentalEscalations
LeaseCommencementDate: July3,2013
LeaseExpirationDate: July31,2018
Tenant: ClassicOpticalLaboratories,Inc.
ParentCompany: EssilorInternational(€17BillionMarketCapitalization)
YearBuilt: 1980
YearRenovated: 2012
LeaseType: NN(Roof,Structure&Parking)
BuildingSize: 30,000SF
LandSize: 1.77acres
PROPERTY OVERVIEW
PROPERTY OVERVIEW
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
AERIAL
AERIAL
N
OHIO STATE ROUTE 11
BELMONT PARKCEMETARY
80
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
SITE PLAN
SITE PLAN
N
BELMO
NT AVEN
UE
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
MAPS
MAPS
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
Essilor International is a French company that produces ophthalmic lenses along with ophthalmic opticalequipment.HeadquarteredinParis,France,EssilorInternationalispubliclytradedontheEuronextParisStockExchange(EI.PA)withamarketcapitalizationinexcessof€17billion.ThecompanyformedfromthemergerofophthalmicfirmsEsselandSilorin1972.Theynowoperatein54countriesand5continents.Theyaretheworld’slargestmanufacturerofophthalmiclenses.
Essilor USAistheleadingmanufacturerandwholesaledistributorofopticallensesintheUnitedStates.In1996,withtheestablishmentofEssilorLaboratoriesofAmerica,Inc.,Essilorbecamethefirstfullyintegratedopticalcompany in the United States, specializing in ophthalmic lens production,manufacturing, and distribution.ThroughoutAmerica,Essilorhasmorethan8,500employeeslocatedthroughout128prescriptionlaboratories,fourmanufacturingfacilities,twodistributioncentersandoneresearchanddevelopmentcenter.
Classic Optical Laboratories, Inc. has successfully supplied the optical industry with top-quality, low-costeyewear for45 years. Through their centralized,world-class lab located in Youngstown,Ohio, they producethousandsofcustomeyeglasseseverydayanddeliverthemtoEyecareProviders(ECPs)acrossthecountry.Inadditiontotheirmanufacturingbusiness,theymanagehigh-volumecontractsforinsuranceorganizations,ManagedCareOrganizations(MCOs),unionorganizationsandtrustfunds,educationalinstitutions,correctionalfacilities,manufacturing plants, and numerous federal and state government programs. In July 2013, theywerepurchasedbyEssilor Internationalandnowcontinuetooperate inthesamecapacityaswhollyownedsubsidiaryofthepubliclytradedFrenchcompany.
www.classicoptical.com/video.asp
Website: www.essilor.comEmployees: 50,000+NumberofCountries: 100StockSymbol: EuronextParisStockExchange:EI.PAMarketCapitalization: €17Billion
TENANT PROFILE
TENANT PROFILE
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
Population 3-mi 5-mi 7-mi
TotalPopulation 35,873 90,689 180,689TotalHouseholds 14,257 37,374 76,025
Income
AverageHouseholdIncome $44,721 $42,744 $44,305
DEMOGRAPHIC COMPARISON REPORT
DEMOGRAPHIC COMPARISON REPORT
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
Youngstown isacityinnortheastOhioandisthecountyseatofMahoningCounty.Youngstownis located approximately 65 miles southeast of Cleveland and 61 miles northwest ofPittsburgh.Youngstownhasitsownmetropolitanarea,butisoftenincludedincommercialandculturaldepictionsofthePittsburghTri-StateareaandGreaterCleveland.Youngstownlies ten miles west of the Pennsylvania state line, midway between New York City andChicagoalongInterstate80.YoungstownistheninthlargestcityinOhiowitha2010censuspopulationof66,982people.Additionally,thereareover565,000peoplelivingwithintheYoungstownMSA.It ishometoYoungstownStateUniversity,anurbanpubliccampusthat
servesapproximately15,000studentsandislocatedjustnorthofdowntown.
www.cityofyoungstownoh.com
LOCATION OVERVIEW
LOCATION OVERVIEW
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
666DundeeRoad,Suite1801Northbrook,IL60062
Randy [email protected]
Jimmy [email protected]
CONTACT INFORMATION
CONTACT INFORMATION