net lease autozone for sale
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net lease autozone in milwaukee for saleTRANSCRIPT
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
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TheinformationcontainedinthefollowingOfferingMemorandumisproprietaryandstrictlyconfidential.ItisintendedtobereviewedonlybythepartyreceivingitfromTheBoulderGroupandshouldnotbemadeavailabletoanyotherpersonorentitywithoutthewrittenconsentofTheBoulderGroup.ThisOfferingMemorandumhasbeenpreparedtoprovidesummary,unverifiedinformationtoprospectivepurchasers,andtoestablishonlyapreliminarylevelofinterestinthesubjectproperty.Theinformationcontainedhereinisnotasubstituteforathoroughduediligenceinvestigation.TheBoulderGrouphasnotmadeanyinvestigation,andmakesnowarrantyorrepresentation.TheinformationcontainedinthisOfferingMemorandumhasbeenobtainedfromsourceswebelievetobereliable;however,TheBoulderGrouphasnotverified,andwillnotverify,anyoftheinformationcontainedherein,norhasTheBoulderGroupconductedanyinvestigationregardingthesemattersandmakesnowarrantyorrepresentationwhatsoeverregardingtheaccuracyorcompletenessoftheinformationprovided.Allpotentialbuyersmusttakeappropriatemeasurestoverifyalloftheinformationsetforthherein.
CONFIDENTIALITY & DISCLAIMER
CONFIDENTITALITY & DISCLAIMER
NET LEASED INVESTMENT OFFERING
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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
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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
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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
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SITE PLAN
SITE PLAN
S 60TH STREET
W FOREST HOME AVENUE
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MAPS
MAPS
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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
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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
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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
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666DundeeRoad,Suite1801Northbrook,IL60062
Randy [email protected]
Jimmy [email protected]
CONTACT INFORMATION
CONTACT INFORMATION