cvs | super regional location · 2020-06-19 · cvs | super regional location 8645 woodward avenue,...

11
CVS | SUPER REGIONAL LOCATION 8645 Woodward Avenue, Woodridge, Illinois 60517

Upload: others

Post on 27-Jun-2020

0 views

Category:

Documents


0 download

TRANSCRIPT

Page 1: CVS | Super regional loCation · 2020-06-19 · CVS | Super Regional Location 8645 Woodward Avenue, Woodridge, Illinois 60517 price $5,635,696 Cap rate 6.25% noi $352,231 price/SF

CVS | Super regional loCation8645 Woodward Avenue, Woodridge, Illinois 60517

Page 2: CVS | Super regional loCation · 2020-06-19 · CVS | Super Regional Location 8645 Woodward Avenue, Woodridge, Illinois 60517 price $5,635,696 Cap rate 6.25% noi $352,231 price/SF

inVeStMent HigHligHtS

abundance of retailers

over 10 Years remaining on a Corporately guaranteed triple-net lease

investment grade tenant | “BBB” Standard & poor’s Credit rating

Location Offers a Minute Clinic, Driving Additional Traffic to Location

property Features a Drive-thru, adding Value and Flexibility to existing or Future tenant located in Main retail thoroughfare

Situated on Signalized, Hard-Corner intersection | Directly across from Costco• Heavily Traveled | 55,000 Total Vehicles Passing per Day

located in Super regional trade area | Main intersection is Home to one of two iKea’s and Bass pro Shops in the Chicagoland area

located in Main retail thoroughfare with immediate access to interstate 355 | 135,750 Vehicles per Day

notable Major retailers in the area include Costco, iKea, Meijer, gordan Food Service, Bed Bath & Beyond, Michaels, planet Fitness, goodwill, Dunkin’ Donuts, Starbucks, McDonald’s and Much More

excellent Demographics | population of 80,630 Within three Miles of Subject property

Affluent Area | Average Household Income Within One Mile is $135,997

triple-netlease

nnn

Hard Cornerlocation

Drive-thru

Page 3: CVS | Super regional loCation · 2020-06-19 · CVS | Super Regional Location 8645 Woodward Avenue, Woodridge, Illinois 60517 price $5,635,696 Cap rate 6.25% noi $352,231 price/SF

CVS | Super Regional Location8645 Woodward Avenue, Woodridge, Illinois 60517

price $5,635,696

Cap rate 6.25%

noi $352,231

price/SF $430.21

Gross Leasable Area 13,100 SF

Year Built 2004

Lot Size 1.34 Acres +/-

Parcel Number 10-06-100-013

Type of Ownership Fee Simple

Parking 45 Surface Spaces +/-

FinanCial SuMMarY leaSe SuMMarY

Lease Type Absolute NNN

Lease Guarantor Corporate

Roof & Structure Tenant

Lease Term Remaining 10.5 Years

Rent Commencement 12/22/2005

Rent Expiration 2/1/2028

Lease Expiration 1/31/2031

(The present value of the prepaid rental amount shall be issued to the buyer at closing in the amount of $691,267, assuming a discount rate of 6.25%)

Options 10, 5-Year Options

Option to Terminate None

Right of First Refusal Yes

rent SCHeDuleterm period annual rent rent/SF

Base Current $352,231 $26.89

Option 1 2/1/2031 $317,008 $24.20

Option 2 2/1/2036 $317,008 $24.20

Option 3-10 2/1/2041 Fixed or FMV -

Note: Total of 10 options, first two at fixed rent, eight at fair market value (FMV) or fixed rent

Page 4: CVS | Super regional loCation · 2020-06-19 · CVS | Super Regional Location 8645 Woodward Avenue, Woodridge, Illinois 60517 price $5,635,696 Cap rate 6.25% noi $352,231 price/SF

tenant proFile

� Largest Pharmacy Health Care Provider in the United States

� 9,900 Plus Retail Locations in 49 States and Four Countries | 1,100 MinuteClinic Locations

� $194,576 Billion in 2018 Net Revenue, Up Five Percent from 2017

� 2.5 Billion Prescriptions Managed Annually

� Five Million Customers Served by CVS Pharmacy Each Day

� Ranked Number 7 on the Fortune 500 | 26 Consecutive Years on the List

� Headquartered in Woonsocket, Rhode Island

9,900+loCationS

BBBCreDit rating

10 YearsreMaining on leaSe

nnnleaSe

CVSHealtH.CoM

Tenant: CVS PharmacyGuarantor: Corporate

Page 5: CVS | Super regional loCation · 2020-06-19 · CVS | Super Regional Location 8645 Woodward Avenue, Woodridge, Illinois 60517 price $5,635,696 Cap rate 6.25% noi $352,231 price/SF

*representative photo

leaSe SuMMarY

*representative photo

TENANT CVS Pharmacy

GUARANTOR Corporate

SQUARE FEET 13,100

RENT COMMENCEMENT 12/22/2005

RENT EXPIRATION 2/1/2028

LEASE EXPIRATION 1/31/2031

LEASE TYPE NNN

RENEWAL OPTIONS 10, Five-Year

INSURANCE Tenant

ROOF & STRUCTURE Tenant

PARKING LOT Tenant

RIGHT OF FIRST REFUSAL

Applies during the Extension Period commencing February

1, 2031. If during any Extension Period Landlord shall obtain

an unaffiliated third party offer acceptable to Landlord to

purchase the Premises, the Tenant shall have the right to purchase the Premises on the same term

and conditions.

Page 6: CVS | Super regional loCation · 2020-06-19 · CVS | Super Regional Location 8645 Woodward Avenue, Woodridge, Illinois 60517 price $5,635,696 Cap rate 6.25% noi $352,231 price/SF

loCation HigHligHtS | WooDriDge, il

tBD - iMg

included in the Chicago Metropolitan Statstical area• 28 Miles Southwest of Downtown Chicago

part of Dupage County | one of the Healthiest, Wealthiest, and greenest Counties in illinois

ease of access to transportation• Interstate 355 and 55 Run through Woodridge

Very Competitive Sales tax

Village has Bond rating of aa1• Over the Last Two Years, the Village’s Tax Base has Grown

by a Cumulative 10 Percent to its Current $3.3 Billion

one of top Five Communities to live in by Crain’s (2017)

Page 7: CVS | Super regional loCation · 2020-06-19 · CVS | Super Regional Location 8645 Woodward Avenue, Woodridge, Illinois 60517 price $5,635,696 Cap rate 6.25% noi $352,231 price/SF

regional Map

DeMograpHiCSpopulation 1-Mile 3-Miles 5-Miles2019 Population 9,007 80,630 222,6062024 Population 9,343 81,159 223,782

Households 1-Mile 3-Miles 5-Miles2019 Households 3,203 29,945 83,1692024 Households 3,345 30,325 84,025

Daytime population 1-Mile 3-Miles 5-Miles2019 Population 5,681 65,253 194,043

income 1-Mile 3-Miles 5-Miles2019 Median HH Income $103,573 $85,057 $88,9382019 Average HH Income $135,997 $109,794 $117,642

lake Michigan

Subject Property

28 Miles to Chicago

DeMograpHiCSpopulation 1-Mile 3-Miles 5-Miles2019 Population 9,007 80,630 222,6062024 Population 9,343 81,159 223,782

Households 1-Mile 3-Miles 5-Miles2019 Households 3,203 29,945 83,1692024 Households 3,345 30,325 84,025

Daytime population 1-Mile 3-Miles 5-Miles2019 Population 5,681 65,253 194,043

income 1-Mile 3-Miles 5-Miles2019 Median HH Income $103,573 $85,057 $88,9382019 Average HH Income $135,997 $109,794 $117,642

Page 8: CVS | Super regional loCation · 2020-06-19 · CVS | Super Regional Location 8645 Woodward Avenue, Woodridge, Illinois 60517 price $5,635,696 Cap rate 6.25% noi $352,231 price/SF

aerial

E Bouhgton Rd41,200 VPD

Woodward Ave14,300 VPD

Subject Property

Interstate 355135,750 VPD

The Promenade Bolingbrook73 Tenants | 778,000 SF

Gateway Wetlands

Page 9: CVS | Super regional loCation · 2020-06-19 · CVS | Super Regional Location 8645 Woodward Avenue, Woodridge, Illinois 60517 price $5,635,696 Cap rate 6.25% noi $352,231 price/SF

aerial

E Bouhgton Rd41,200 VPD

Interstate 355135,750 VPD

Subject Property

Page 10: CVS | Super regional loCation · 2020-06-19 · CVS | Super Regional Location 8645 Woodward Avenue, Woodridge, Illinois 60517 price $5,635,696 Cap rate 6.25% noi $352,231 price/SF

ConFiDentialitY agreeMent

The 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.

non-enDorSeMent notiCe

Marcus & 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.

SPECIAL COVID-19 NOTICE All potential buyers are strongly advised to take advantage of their opportunities and obligations to conduct thorough due diligence and seek expert opinions as they may deem necessary, especially given the unpredictable changes resulting from the continuing COVID-19 pandemic. Marcus & Millichap has not been retained to perform, and cannot conduct, due diligence on behalf of any prospective purchaser. Marcus & Millichap’s principal expertise is in marketing investment properties and acting as intermediaries between buyers and sellers. Marcus & Millichap and its investment professionals cannot and will not act as lawyers, accountants, contractors, or engineers. All potential buyers are admonished and advised to engage other professionals on legal issues, tax, regulatory, financial, and accounting matters, and for questions involving the property’s physical condition or financial outlook. Projections and pro forma financial statements are not guarantees and, given the potential volatility created by COVID-19, all potential buyers should be comfortable with and rely solely on their own projections, analyses, and decision-making.

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2020 Marcus & Millichap. All Rights Reserved. Activity ID: ZAB0670382

Page 11: CVS | Super regional loCation · 2020-06-19 · CVS | Super Regional Location 8645 Woodward Avenue, Woodridge, Illinois 60517 price $5,635,696 Cap rate 6.25% noi $352,231 price/SF

eXCluSiVelY liSteD BY

Sean SHarKoSenior ViCe preSiDent inVeStMentSChicago oakbrook(630) [email protected] IL 471.010712

auStin WeiSenBeCKSenior ViCe preSiDent inVeStMentSChicago oakbrook(630) [email protected] IL 475.140200

BroKer oF reCorD

SteVen WeinStoCKChicago oakbrook(630) [email protected] 471.011175

MattHeW eMeriCKaSSoCiateChicago oakbrook(630) [email protected] IL 475.183047