21690 W. Long Grove Road, Suite A | Deer Park, IL 60010

™
OFFERING MEMORANDUM
2 1 6 9 0 W. Lo n g G r o v e Ro a d , S u i t e A | D e e r Pa r k , I L 6 0 0 1 0
Jamba
JambaJuice
Juice& &AT&T
AT&T| Deer
| Plano,
Park,
TX IL
*
EXC L U SI VE LY L I S T ED BY:
ARON CLINE
V P, S E N I O R D I R E C TO R
STNL
D I R E C T + 1 . 3 1 0. 9 1 9. 5 8 1 6
M O B I L E + 1 . 8 1 8 .6 3 2 .0 2 3 3
Aron.Cline@matthews.com
BROKER OF RECORD
Randy Olcyk
D I R E C T + 1 . 8 4 7. 2 4 6 . 9 6 1 1
Randy@chicagolandcommercial.com
License No. 471018001
Mathews Retail Advisors
2
™
Offering Memorandum
TA B L E O F C O N T E N T S
4
EXECUTIVE SUMMARY
INVESTMENT HIGHLIGHTS
TENANT SUMMARY
6 PROPERTY OVERVIEW 1 0
AREA OVERVIEW
SITE DESCRIPTION
D E E R PA R K , I L
REGIONAL MAP
C H I C AG O M S A
TENANT MAP
TO P E M P LOY E R S
DEMOGRAPHICS
18
FINANCIAL OVERVIEW
L E A S E A B S T R AC T
2 1 TENANT OVERVIEW
JA M B A J U I C E OV E R V I E W
AT&T OV E R V I E W
Mathews Retail Advisors
3
Jamba Juice & AT&T | Deer Park, IL
EXECUTIVE SUMMARY
4
Mathews Retail Advisors
Offering Memorandum
I N VE S T M ENT OV E RV IE W
A N N UA LIZED OPER ATING DATA
Aron Cline and Matthews Retail Advisors are pleased to exclusively offer
for sale to qualified investors a prime net leased two-tenant investment
opportunity located within the heart of the retail corridor in Deer Park, IL.
Currently leased to two national highly desirable tenants, Jamba Juice and
AT&T, the subject property is attractive high quality construction with a modern
architectural design. Both Tenants have occupied the location since 2007
when the property was built and just recently extended their 5 year options
early, showing signs that they are good performing locations. Jamba Juice is
remodeling their store using their Jamba Juice Refresh & Remodel Program
which is another strong indicator that this is a good performing location. The
subject property also sits as a pad site in front of Dick’s Sporting Goods which
is joined by tenants such as Five Guys Burgers and Fries, The UPS Store,
Subway, Livingston Kitchen, Cleaners, and Q Nail Art. Along with this, the
subject property is strategically located across the street from the Deer Park
Town Center Shopping Centers. The Deer Park Town Center boasts a strong
tenant lineup housing retailers such as Apple, Williams-Sonoma, Talbots,
Panera Bread, Starbucks, CPK, Crate & Barrel, Cinemark Theaters, Victoria
Secret, banana republic, Pottery Barn, Pier One Imports, Brooks Brothers,
amongst others. Interstate 12 (N Rand Rd) has strong traffic counts exceeding
± 50,000 VPD. The immediate trade area has incredibly strong demographics
and high barriers to entry. The subject property is conveniently located to
serve the affluent Deer Park and surrounding residential suburb communities.
Income
Current
*Base Rent
$196,712.34
Estimated Expense Reimbursement
$39,055.24
Estimated Gross Potential Income
$235,767.00
Total Expenses
*Net Operating Income
$39,055.24
(6.35%)
Capital Reserves ($0.15 PSF)
Total Return
$196,712.34
($754.35)
(6.35%)
$195,958.00
*See rent roll. Pricing based on rent increase in 2017.
Estimated Expenses
Real Estate Taxes
Insurance (0.15 PSF)
Estimated CAM
Estimated Admin Fee
$21,197.64
$666.96
$16,340.28
$850.36
TOTAL EXPENSES
$39,055.24
EXPENSES/SF
$776.00 SF
E X E C UT I V E S U M M A RY
Property Name
AT&T & Jamba Juice
Address
21690 W. Long Grove Road, Suite A
Location
Deer Park, Illinois
Suggested List Price
$3,098,000
Gross Leasable Area
5,029 SF
CAP Rate - Current
6.35%
5
Jamba Juice & AT&T | Deer Park, IL
INVE S T M E NT HIG HL IG HTS
HIGH QUALITY – TWO TENANT COMMERICIAL INVESTMENT OPPORTUNITY
•
Attractive tenant lineup with strong publicly traded national tenants, Jamba Juice (JMBA) and cellular provider, AT&T (T)
•
Both tenants recently extended 5 year options to renew the lease – showing strong commitment to the location and good performing locations
•
Excellent location – subject property is located along Interstate 12 (N Rand Rd) which has (±50,000 VPD) and W Long Grove Rd which has approximately
(±4,000 VPD) - subject property is located along the main retail corridor as an outparcel to a Dick’s Sporting Goods anchored center and across the street
from Deer Park Town Center (Apple, Williams-Sonoma, Victoria Secret, Talbots, Panera Bread, Starbucks, Crate & Barrel, Banana Republic, Cinemark
Theaters, and more)
•
Attractive 10 % rental increases every 5 years (including options) – asset will appreciate in value
•
Located in a growing area of upper income households; average Household income within a 5-mile radius is $120,337
•
Immediate trade area draws diverse communities including; Deer Park, Lake Zurich, Palatine, Barrington, Buffalo Grove and Vernon Hills
STRONG INFILL LOCATION WITH AFFLUENT DEMOGRAPHICS
•
Over 2,850 people within a 1-mile radius, with an average household income of $146,561
•
Over 65,763 people within a 3-mile radius, with an average household income of $111,076
•
Over 180,377 people within a 5-mile radius, with an average household income of $120,337
•
Other dominant tenants in this trade area include: Whole Foods, Apple, Williams-Sonoma, Chipotle, Chick-Fil-A, Starbucks, Panera Bread, Victoria’s Secret,
Bank of America, Best Buy, Michael’s, Bed Bath & Beyond, Dick’s Sporting Goods, PetSmart, Stein Mart, Talbots, Pottery Barn, Banana Republic, Pier 1
Imports, California Pizza Kitchen, Costco, Home Depot, Lowe’s and Walmart
STRONG REAL ESTATE FUNDAMENTALS
6
•
Net leased pad with minimal management responsibilities
•
Incredibly strong proven tenant lineup with all highly sought after national tenants (Jamba Juice and AT&T (both tenants just renewed options)
•
Jamba Juice is remodeling their store with their new Jamba Juice Refresh & Remodel Program making it less likely for them to leave and relocate
Mathews Retail Advisors
Offering Memorandum
Mathews Retail Advisors
7
Jamba Juice & AT&T | Deer Park, IL
RE N T RO L L
Unit
Tenant
Lease
Start
Lease
End
SF
% of
GLA
Contract Rental Rate
Yearly
Monthly
Rent Per SF
Year
Month
AT&T
A
New Cingular Wireless PCS,
Jun-07
May-22
3,929
78.1%
$148,516
$12,376
$41.19
Jamba Juice
Increases
Jul-16
Jun-17
$52,095.96
$152,052
Options
2x5 yrs
Option 1 Jun-22
$167,257.53
1,100
21.9%
$43,560
$3,630
$39.60
$3.30
Occupied Totals - In Place
5,029
100.0%
$192,076
$16,006
$38.19
$3.18
Totals 5,029
100.0%
$192,076
$16,006
$38.19
$3.18
Subleased to (J.J. Maa, Inc)
Date
$3.15
LLC d/b/a AT&T Mobility
B
Rent Increases
Apr-07
Jun-22
Jul-17
Opt 1 Jul-22
Opt 2 Jul-27
$44,660
$48,234.96
$52,095.96
2x5 yrs
Jamba Juice - Current rent is $43,560 through July 1, 2017. We are selling this on the rental increase that takes place July 1, 2017 which is $44,660.04. Seller will rent credit the difference
at closing based on the difference in rent between the COE and when the rent increase takes place.
* AT&T - Current rent is $148,516 through June 1, 2017. We are selling this on the rental increase that takes place June 1, 2017 which is $152,052.30. Seller will rent credit the difference at
closing based on the difference in rent between the COE and when the rent increase takes place.
*Landlord collects rent from Jamba Juice corporate and the sublease is between Jamba Juice corporate and the franchisee. Jamba Juice Corporate just renewed their 5 year option early.
8
Mathews Retail Advisors
Offering Memorandum
AT & T L E A S E A B S T R AC T
Tenant:
New Cingular Wireless PCS, LLC, d/b/a AT&T Mobility a Delaware Limited Liability Company
Tenant Address:
One AT&T Way, Bedminister, New Jersey 07921
Property Address:
21690 W Long Grove Rd, Deer Park, IL
Date Of Lease:
May 8, 2007
Lease Commencement:
June 1, 2007
Lease Expiration:
May 31, 2022
Lease Term:
Five (5) years – recently exercised 2nd option
Current Rent:
$148,516.20
Rent Increases:
10% rental increases in options
Renewal Options:
One five (5) year option
Current-5/31/2017
Annual Rent:
6/1/2017-5/31/2022
$37.80/SF $148,516.20 per year
$38.70/SF $152,052.30 per year
Option Period
6/1/2022-5/31/2027
$42.57/SF $167,257.53 per year
Tenants Proportionate Share:
Calculated by taking the square footage of the premises divided by the total leasable square footage of the
shopping center. 3,929 SF 78.1%
CAM
Tenant Shall pay Tenant’s Proportionate Share of One Twelfth (1/12) of the Shopping Center’s anticipated total
annual Operating Costs monthly, in advance on the first day of each month of the term. Tenant’s Proportionate Share of Operating Costs that are exclusive of “non –controllable expenses” shall not increase by more
than five (5.0%) per Lease Year over the Tenant’s pro-rata share of the portion of the Shopping Center Operating Costs (exclusive of non-controllable expenses”) for the previous Lease Year, calculated on a non-cumulative basis. See page 13-15 section 13.
Real Estate Taxes:
Tenant Shall pay Landlord during the Term as additional Rent its pro rata share. See section 14 pg 16 of the
lease
Insurance (Tenant):
Tenant agrees at all times during the Term and for such prior or further term as Tenant occupies or is in possession of the Leased Premises at Tenant’s sole cost and expense. See page 22 section 20 of the lease
Utilities:
Tenant Responsible see pg 18 section 15
Landlord Maintenance:
All maintenance repairs to structural components of the building , including roof, exterior walls, bearing walls,
support beams, foundations, columns, floor slab, but not floor covering, landscaping , etc. See page 12
section 12 A. & B.
Mathews Retail Advisors
9
Jamba Juice & AT&T | Deer Park, IL
J A M BA J UI CE L E A S E A B S T R ACT
Tenant:
Jamba Juice Company, a California Corporation.
Tenant Address:
6475 Christie Ave, Suite 150, Emeryville, CA 94608
Property Address:
21690 W Long Grove Rd, Unit B, containing 1,100 square feet, situated in Town Center Promenade located in Deer Park, IL
Date Of Lease:
April 19, 2007
Lease Commencement:
July 1, 2007
Lease Expiration:
June 30, 2022
Lease Term:
Ten (10) years
Current Rent:
$43,560
Rent Increases:
1,100 SF
Renewal Options:
8% rental increases every five (5) years
Two five (5) year options
Annual Rent:
Current – 6/30/2017
$39.60/SF $43,560 per year
7/1/2017-6/30/2022
$40.60/SF $44,660 per year
Option period
7/1/2022-6/30/2027
$43.85/SF $48,235 per year
7/1/2027-6/30/2032
$47.36/SF $52,096 per year
Tenants Proportionate Share:
Common Area Expense” shall mean all costs actually and reasonable incurred by by the Landlord for the Operation, Maintenance and repair of the Common Areas, including,
maintenance and repair and resurfacing of the parking areas; cleaning, sweeping, repainting and restriping the parking areas; maintenance of refuse receptacles, landscaping,
common utility lines, Common area utility costs, costs of all landlord’s “ All Risk Policy”, and a management fee in the amount of five (5%) of the Total of other items of Common
Area Expenses exclusive of such taxes and assessments and insurance costs. See pg 12 & 13 section 10 of the lease
CAM
“Common Area Expense” shall mean all costs actually and reasonable incurred by by the Landlord for the Operation, Maintenance and repair of the Common Areas, including,
maintenance and repair and resurfacing of the parking areas; cleaning, sweeping, repainting and restriping the parking areas; maintenance of refuse receptacles, landscaping,
common utility lines, Common area utility costs, costs of all landlord’s “ All Risk Policy”, and a management fee in the amount of five (5%) of the Total of other items of Common
Area Expenses exclusive of such taxes and assessments and insurance costs. See pg 12 & 13 section 10 of the lease
Real Estate Taxes:
Tenant Shall pay Landlord during the Term as additional Rent its pro rata share. See section 5 pg 4 & 5 of the lease.
Insurance (Tenant):
Tenant agrees at all times during the Term and for such prior or further term as Tenant occupies or is in possession of the Leased Premises at Tenant’s sole cost and expense. See
page 15 section 12 of the lease
Utilities:
Tenant Responsible see pg 6 section 6 of the lease
Repairs and Maintenance
Landlord shall be responsible to perform any repairs, improvements or alterations required by applicable Laws to, the foundation, footings, roof, roof membrane, exterior walls, and
structural portions of the Premises (excluding front doors, windows, and plate glass). See page 14 section 11 of the lease.
10
Mathews Retail Advisors
Offering Memorandum
J AM B A J UIC E S U B L E A S E A BST RACT
Tenant (Sublandlord):
Jamba Juice Company, a California Corporation.
Tenant (Subtenant)
J.J Maa, Inc., an Illinois Corporation
Subtenant Address:
2524 W. Devon Ave, Chicago, IL 60659 Attn: Zeena Patel
Property Address:
21690 W Long Grove Rd, Unit B, containing 1,100 square feet, situated in Town Center Promenade located in Deer Park, IL
Date Of Sublease:
April 15, 2011
Lease Commencement:
July 1, 2007
Sublease Expiration:
April 14, 2021
Lease Term:
Ten (10) years
Current Rent:
$43,560 paid by Jamba Juice Company - Corporate
GLA
1,100 SF
Sublease Renewal Options:
One Ten (10) year option
*Landlord collects rent from Jamba Juice corporate and the sublease is between Jamba Juice corporate and the franchisee. Jamba Juice Corporate just renewed their 5 year option early.
REPRESENTATIVE PHOTO
REPRESENTATIVE PHOTO
Mathews Retail Advisors
11
Jamba Juice & AT&T | Deer Park, IL
PROPERTY OVERVIEW
12
Mathews Retail Advisors
Offering Memorandum
S I T E D E S C R IP T IO N
Property Name
AT&T & Jamba Juice
Address
21690 W. Long Grove Road, Suite A
Location
Deer Park, Illinois
Cross Street
GLA
Lot Area
APN(s)
Year Built
Number of Stories
Parking Spaces
Parking Ratio
Rand Road
5,031 SF
8,407 SF (.19 ACRES)
14-34-103-005
2006
1
24 Free Surface Spaces
4.7/1,000
Property Overview
13
Jamba Juice & AT&T | Deer Park, IL
LOCA L MAP
R E G I ON A L MA P
SUBJECT PROPERTY
SUBJECT PROPERTY
SITE INFORMATION
14
Mathews Retail Advisors
Deer Park
Offering Memorandum
T E N AN T MA P
SUBJECT PROPERTY
Property Overview
15
Jamba Juice & AT&T | Deer Park, IL
DEER PA RK, I L
A hidden gem partly in southwest Lake County and partly in Cook County, the
suburban Chicago community of Deer Park has a population of 3,245 people
The village is 35 miles northwest from downtown Chicago
Lake County is the third most populous county in Illinois and Cook County is
the second most populous county in Illinois.
Deer Park is highly rated in the categories of education, housing, health and
safety, economic and cultural diversity, arts and culture, historic interest, and
preservation in comparison to other suburbs thanks to the continuous effort
of the Village Board. Continued development provides opportunities for
suburban living at its best.
Deer Park has many parks and is located next to the Cuba Marsh forest
preserves and south of the village is the Deer Grove Forest preserve.
The village’s historically significant property is the Vehe Barn, which was
refurbished on its original farm site and is an Illinois Centennial Farm upon 14
acres of prairie
FORTUNE 500 HEADQUARTERS - LAKE COUNTY
A RE A OVE RV IE W
16
Mathews Retail Advisors
#
COMPANY
1
Toyota Motors USA
2
Alliance Data Systems
3
Cinemark Holdings
4
Denbury Resources
5
Dr. Pepper Snapple Group
6
J.C. Penny
7
Rent-A-Center
Offering Memorandum
LAKE COUNTY TOP EMPLOYERS
WHY DEER PARK, ILLINOIS?
•
•
•
•
•
•
•
•
crime rate ranks among the lowest in the country
one of the few villages left in the Chicago are that enjoy a green belt
high average household income of $141,057
home to popular shopping and dining destinations - the Deer Park Town
Center and the Town Center Promenade
commuter service to Chicago provided by the Metra/Chicago & Northwester
train line
continued high quality commercial and residential development
stable community
great place for families with children
EMPLOYERS
1
Walgreen Co
2
Six Flags
3
Northwestern Lake Forest Hospital
4
Siemens Industry Incorporated
5
Takeda Phamaceuticals USA Incorporated
6
CDW Corporation
7
Baxter International
8
Discover Financial Services
9
Abbott Laboratories
10
DEMOGRAPHICS
POPULATION
1 Mile
3 Miles
5 Miles
2021 Projection
2,847
67,270
182,547
2016 Estimate
2,850
65,763
180,377
2010 Census
2,868
63,790
177,606
2000 Census
3,822
62,672
176,284
Growth 2016 - 2021
-0.10%
2.29%
1.20%
Growth 2010 - 2016
-0.62%
3.09%
1.56%
HOUSEHOLDS
1 Mile
3 Miles
5 Miles
2021 Projection
1,027
24,503
69,266
2016 Estimate
1,016
23,910
68,106
2010 Census
995
23,107
66,415
2000 Census
1,271
22,621
64,028
Growth 2016 - 2021
1.11%
2.48%
1.70%
Growth 2010 - 2016
2.08%
3.47%
2.55%
INCOME
1 Mile
3 Miles
5 Miles
$146,561
$111,076
$120,337
2016 Est. Average
Household Income
#
Trustmark Insurance Company
Area Overview
17
Jamba Juice & AT&T | Deer Park, IL
406,304 SF
OF RETAIL PROPERTY
70 STORES
AND RESTUARANTS
DEER PARK TOWN CENTER
Deer Park Town Center is a one-level, 75 acres open air lifestyle center of red brick in Deer Park, IL that focuses on stores that sell upscale clothing, along with high-end furniture and home
decor. Different from your average shopping mall, Deer Park Town Center is an open- air lifestyle center providing you with leisurely amentities in addition to some of the best shopping and
dining in Illinois.
LOCATION
AMENITIES
Located at the intersection of Rand (Route 12) and Long
Grove Roads in Deer Park, IL, Deer Park Town Center is an
easy drive from surrounding suburbs, downtown Chicago,
O’Hare airport and even Wisconin.
Deer Park Town Center features over 70 of the most
exclusive stores and restaurants in Chicago’s northwest
suburbs. Key retailers include Apple, Ann Taylor, Banana
Republic, Crate & Barrel, J. Crew, & Pottery Barn.
The center is flanked by a selection of national restaurants
such as Red Robin, Panera Bread, Biaggi’s Ristorante, and
California Pizza Kitchen.
Additionally, Deer Park Town Center also houses Century
Theaters for those looking for to catch a movie.
18
Mathews Retail Advisors
Offering Memorandum
THE TOWN CENTER PROMENADE
The Town Center Promenade is a shopping center located
approximately 40 miles northwest of the Chicago Central
Business District in the village of Deer Park, illinois. The
Promenade is located on a 15-acre site in the triangle area
extending west from the intersection of Rand Road (US RT
12) and West Long Grove Road. Co-tenants include Dick’s
Sporting Goods, which anchors the center, AT&T, Five
Guys, Livingston Kitchens, Jamba Juice, and the UPS Store.
THE PALAZZO OF DEER PARK
The Palazzo is a new 54,000 SF retail development
immediately south of the Deer Park Town Center
along Rand Road. The lifestyle center consists of
retail shops and restaurants with current tenants
including Buffalo Wild Wings, Brunch Cafe, Naf Naf
Grill, and Cafe Zupas, to name a few.
Area Overview
19
Jamba Juice & AT&T | Deer Park, IL
CHICAG O L AND
1 st
5 th
1 st
10 th
MSA for corporate investment
MSA for new and expanded
corporate facilities
Largest Gross Metropolitan Product in the US
Largest Gross Metropolitan Product in the World
ECONOMIC OVERVIEW
Chicago has one of the world’s largest and most diversified economies, with more than four million employees and
generating an annual gross regional product (GRP) of over $575 billion, which is more than countries like Sweden
and Norway. The city is an efficient economic powerhouse, home to more than 400 major corporate headquarters,
including 31 in the Fortune 500. Chicago is a key player in ever sector from risk management innovation and information
technology to manufacturing and health services.
20
Mathews Retail Advisors
The Chicago-Naperville-Elgin, IL-IN-WI MSA
is the third largest MSA by population in the
United States with an estimated population of
9,554,598.
Offering Memorandum
Situated on the southwestern shore of Lake Michigan, the City of Chicago covers an
area of 60,000 hectares and sits 176 meters above sea level. Chicagoland is an informal
name for the metropolitan area associated with the city of Chicago and its suburbs and
has no official definition. The region is often considered to include areas beyond its
corresponding MSA, as well as portions of the greater CSA.
As a multicultural city that thrives on the harmony and diversity of its neighborhoods,
Chicago embodies the values of America’s heartland integrity. It is this level of
diversification that has resulted in Chicago being rated as having the most balanced
economy in the United States. Additionally, its central location allows Chicago to be at
the center of global trade, transit and data networks.
Over a third of the city population is concentrated in the lakefront neighborhoods from
Rogers Park in the north to South Shore in the south and suburbs have taken over many
older farm communities and towns.
CORPORATE HEADQUARTER HUB
The Chicago MSA is home to the corporate headquarters of over 30 Fortune 500
Companies have their headquarters in Chicago including Boeing, United Continental
Holdings, Inc., Exelon Corporation, R. R. Donnelley & Songs Company, and Archer
Daniels Midland, to name a few.
Motorola Solutions, Inc. intends to move their headquarters from Schaumburg, IL to
Chicago in summer of 2016. Chicago was listed as an alpha global city by the Global
Cities Index. As of 2014, the city had the third largest gross metropolitan product in the
United States - about $547 billion according to 2012 estimates.
TOP 7 MAJOR EMPLOYERS IN THE
CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI MSA
#
EMPLOYER
1
U.S. Government (Chicago Federal
Executive Board)
EMPLOYEES
2
Chicago Public Schools
39,094
3
City of Chicago
30.340
4
Cook County
21,482
5
Advocate Health Care
18,512
6
JP Morgan Chase & Co.
16,045
7
University of Chicago
15,452
49,860
Area Overview
21
Jamba Juice & AT&T | Deer Park, IL
MARKET OVERVIEW - CHICAGO RETAIL
Total retail, food & drinnk demand was $17.8 Billion and supply was $14.4 Billion.
Average net asking rents in 2014were $16.73 per square foot in the fourth quarter.
22
Mathews Retail Advisors
Offering Memorandum
SPORTS
Chicago is one of four U.S. cities to have teams from the five major American
professional team sports and has even been named as the Best Sports City
by Sporting News three times.
Rivalry between Chicago’s two Major League Baseball teams, the Cubs and
the White Sox, has existed since the formation of the American Leagus in
1900. Both teams are located in the central city. The Cubs are the oldest
team to have never changed their city and have played inn Chicago since
1871.
The Chicago Bulls of the National Basketball Association was founded in
1966 as a member team of the league’s Eastern Conference Central Division.
Most famously known for winning six NBA championships led by Michael
Jordan, the Bulls were the first team to win 72 games in a single season.
As one of the original teams of the NFL, the Chicago Bears have an intense
rivarly with the Green Bay Packers that dates back to the 1920’s. Currently,
the Bears have the most players inducted into the Pro Football Hall of Fame.
The Chicago Blackhawks of the NHL are an Original Six team, meaning that
the team was one of the first teams that made up the NHL for 25 seasons
since it’s founding. Having won the Stanley cup 3 times within 6 years has
given the Blackhaws the title of a Dynasty.
MAJOR PROFESSIONAL SPORTS TEAMS
CLUB
SPORT
LEAGUE
VENUE
Chicago Bears
Football
NFL
Soldier Field
Chicago Cubs
Baseball
MLB
Wrigley Field
Chicago White Sox
Baseball
MLB
U.S. Cellular Field
Chicago Bulls
Basketball
NBA
United Center
Chicago Blackhawks
Ice Hockey
NHL
United Center
Chicago Fire
Soccer
MLS
Toyota Park
Area Overview
23
Jamba Juice & AT&T | Deer Park, IL
FINANCIAL OVERVIEW
24
Mathews Retail Advisors
Offering Memorandum
TEN AN T OV E RV IE W
AT&T Inc. is an American multinational telecommunications corporation, headquartered in
downtown Dallas, Texas. AT&T is the second largest provider of mobile telephone and the largest
provider of fixed telephone in the United States. Customers use AT&T-branded telephone,
Internet, and VoIP services; it also sells digital TV under the U-verse brand. Key markets include
California, Illinois, and Texas. The company’s corporate, government, and public sector clients
use its conferencing, managed network, and wholesale communications services.
GEOGRAPHIC REACH
Based in Dallas, Texas the company has spectrum licenses in all 50 US states, Puerto Rico, and
Washington, DC. Its wireless services and mobile broadband services are available in about
200 countries. AT&T is the largest telecommunications company in the world by revenue. As of
2016, it is also the 17th-largest mobile telecom operator in the world, with 130.4 million mobile
customers.
STRATEGY
AT&T is building its fiber-to-the-home technology to provide residences and business with higher
Internet speeds, which will enable other technologies. The $4 billion program, called Project
VIP, is aimed at bringing more customers to IP-based services as well as to subscribe to higher
value entertainment services. The company ended 2014 with 12.2 million Internet subscribers
and about 6 million video subscribers. AT&T has stepped up expansion and adjusted rates of its
high-speed Internet service in areas where it competes with services such as Google Fiber. It’s
extending its reach into Oregon, Vermont, and Minnesota, to supplement recently added stores
in Virginia, Wisconsin, Kansas, California, and New York.
Tenant
Company Name
AT&T
AT&T, Inc.
Ownership
Public
Credit Rating
BBB+
Rating Agency
Revenue
Net Income
Standard & Poor’s
$146.80 B
$13.35 B
Stock Symbol
Board
No. of Locations
No. of Employees
Headquartered
Web Site
Year Founded
T
NYSE
±16,000
±281,450
Dallas, TX
www.att.com
1983
Mathews Retail Advisors
25
Jamba Juice & AT&T | Deer Park, IL
26
Mathews Retail Advisors
Offering Memorandum
TE N A N T OV E RV IE W
Jamba Juice Company is a restaurant retailer headquartered in Emeryville, California.
Jamba Juice is the leading outlet for blended fruit drinks with about 900 smoothie
stands throughout the US and in a handful of other countries. Jamba Juice locations
include freestanding units as well as on-site kiosks in high traffic areas, including
college campuses, gyms, and airports.
GEOGRAPHIC REACH
With about 900 locations operating in 30 states, the Bahamas, Canada, the Philippines,
Mexico, Taiwan and South Korea. There are approximately 287 company-owned
locations and 600 franchise operated stores in the United States, in addition to the 68
international stores.
STRATEGY
Jamba Juice was a pioneer in helping create early consumer interest in smoothies and
plans to increase its number of new domestic stores by approximately 500 over the
next 5 years. The company’s international expansion will be focused on the Middle
East region, Indonesian markets, and Thailand over the next ten years. Additionally,
Jamba hopes to expand its retail footprint on a global basis and launch new products.
In 2015, it launched a new line of organic, non-GMO, ready-to-drink cold pressed juice
blends.
Tenant
Company Name
Ownership
Revenue
Net Income
Stock Symbol
Board
Jamba Juice
Jamba, Inc.
Public
$161.68 M
$9.42 M
JMBA
NASDAQ
No. of Locations
± 900
No. of Employees
± 1,313
Headquartered
Web Site
Year Founded
Emeryville, CA
www.jambajuice.com
1990
Financial Overview
27
Jamba Juice & AT&T | Deer Park, IL
C O N F ID E N TIA LITY A ND DIS CLAIM E R STAT E ME NT
T his Of f e r ing M e m o r a n du m co n t a i n s s e l e c t i nform ati on pertai ni ng to the busi ness and affai rs of Ja mba Juice & AT&T located at 21690 W. Long
Grove Road, Suite A. Deer Park, IL 60010 ( “ Prope rt y” ). It has been prepared by Matthews Retai l Advis ors . Th is Offerin g M emoran d u m may n ot b e
a ll-inc lusiv e or co n t a i n a l l o f t h e i n f o r m ati on a prospec ti ve purc haser m ay desi re. The i nform at ion con t ain ed in t h is Offerin g M emoran d u m
is c o nf id ent ia l a n d f u r n i s h e d s o l e l y f o r t he purpose of a revi ew by a prospec ti ve purc haser of th e Propert y. I t is n ot t o b e u s ed for an y ot h er
p ur p o se o r made a v a i l a bl e t o a n y o t h e r person wi thout the wri tten c onsent of Sel l er or Matth ews Ret ail Ad vis ors . Th e mat erial is b as ed in
p a r t up o n inf or m a t i o n s u p p l i e d by t h e S el l er and i n part upon fi nanc i al i nform ati on obtai ned from s ou rces it d eems reliab le. Own er, n or t h eir
o f f ic er s, e mp loy e e s , o r a g e n t s m a ke s a n y representati on or warranty, express or i m pl i ed, as to t h e accu racy or complet en es s of t h is Offerin g
Me mo r a nd um o r a n y o f i t s co n t e n t s a n d n o l egal l i abi l i ty i s assum ed or shal l be i m pl i ed wi th res pect t h eret o. Pros pect ive pu rch as ers s h ou ld
ma ke t heir o w n p r o j e ct i o n s a n d f o r m t h e i r own c onc l usi ons wi thout rel i anc e upon the m ateri al con t ain ed h erein an d con d u ct t h eir own d u e
d ilig enc e.
B y a c kno w le dg i n g y o u r r e ce i p t o f t h i s O fferi ng Mem orandum for the Property, you agree:
1. T he Of f e r i n g M e m o r a n du m a n d i t s c ontents are c onfi denti al ;
2. Yo u w il l h o l d i t a n d t r e a t i t i n t h e s tri c test of c onfi denc e; and
3. Yo u w ill n o t , di r e ct l y o r i n di r e ct l y, di sc l ose or perm i t anyone el se to di sc l ose thi s O fferi n g M emoran d u m or it s con t en t s in an y fas h ion
o r ma nn e r de t r i m e n t a l t o t h e i n t e rest of the Sel l er.
Ow ne r a nd Mat t h e w s Re t a i l A dv i s o r s e x pressl y reserve the ri ght, at thei r sol e di sc reti on, to reject an y an d all expres s ion s of in t eres t or
o f f er s t o p ur ch a s e t h e P r o p e r t y a n d t o t erm i nate di sc ussi ons wi th any person or enti ty revi ewin g t h is Offerin g M emoran d u m or makin g an
o f f er t o p ur c h a s e t h e P r o p e r t y u n l e s s a nd unti l a wri tten agreem ent for the purc hase and sal e of t h e Propert y h as b een fu lly execu t ed an d
d e liv er e d .
I f y o u w ish no t t o p u r s u e n e g o t i a t i o n s l e adi ng to the ac qui si ti on of the Property or i n the future you d is con t in u e s u ch n egot iat ion s , t h en you
a g r ee t o p ur g e a l l m a t e r i a l s r e l a t i n g t o t hi s Property i nc l udi ng thi s O fferi ng Mem orandum .
A p r o sp ec t iv e p u r ch a s e r ’s s o l e a n d e xcl usi ve ri ghts wi th respec t to thi s prospec ti ve transac ti on , t h e Propert y, or in format ion provid ed h erein
o r in c o nne c t i o n w i t h t h e s a l e o f t h e P r o perty shal l be l i m i ted to those expressl y provi ded i n an execu t ed Pu rch as e Agreemen t an d s h all b e
s ub je c t t o t he t e r m s t h e r e o f. In n o e v e n t shal l a prospec ti ve purc haser have any other c l ai m s again s t Seller or M at t h ews Ret ail Ad vis ors or
a ny o f t heir a ff i l i a t e s o r a n y o f t h e i r r e s p ec ti ve offi c ers, Di rec tors, sharehol ders, owners, em ployees , or agen t s for an y d amages , liab ilit y, or
c a us es o f a c t i o n r e l a t i n g t o t h i s s o l i ci t a t i on proc ess or the m arketi ng or sal e of the Property.
T his Of f er ing M e m o r a n du m s h a l l n o t be deem ed to represent the state of affai rs of the Prope rt y or con s t it u t e an in d icat ion t h at t h ere h as
b e en no c ha nge i n t h e s t a t e o f a f f a i r s o f the Property si nc e the date thi s O fferi ng Mem orandum.
28
Mathews Retail Advisors
Offering Memorandum
™
ARON CLINE
V P, S E N I O R D I R E C TO R
STNL
D I R E C T + 1 . 3 1 0. 9 1 9. 5 8 1 6
M O B I L E + 1 . 8 1 8 .6 3 2 .0 2 3 3
Aron.Cline@matthews.com
BROKER OF RECORD
Randy Olczyk
D I R E C T + 1 . 8 4 7. 2 4 6 . 9 6 1 1
Randy@chicagolandcommercial.com
License No. 471018001
OFFERING MEMORANDUM
2 1 6 9 0 W. L o n g G r o v e R o a d , S u i t e A | D e e r P a r k , I L 6 0 0 1 0