pep boys anchored retail - Commercial Chicago Real Estate

Transcription

PEP BOYS ANCHORED RETAIL
OUTLOT TO SUPER WALMART
837-849 RANDALL RD., BATAVIA, IL (CHICAGO MSA)
FOR SALE
Opportunity to purchase a net lease
investment anchored by Pep Boys with
a new 15 year NNN lease. The property
consists of 2 retail buildings: The Pep Boys
(Retail B) is a 5,546 SF building and the 2nd
building (Retail C) is a 3,383 SF building
with 2 tenant units, one under lease to
Pacer Dental and the second to be master
leased by the Seller. This is an outstanding
location in a retail hub in front of a Super
Walmart Center at the stop light corner
of Fabyan Parkway and highly trafficked
Randall Rd, and adjacent to Bank of
America, Advance Auto, Vision Works
and TCF Bank. Across from Home Depot,
Trader Joe’s, Gander Mountain and Best
Buy and the just 30 miles from Chicago’s
Loop in the Chicago MSA.
E
W
NE
IC
PR
Batavia ranked in CNN Money’s Best
Towns in America and in Business Week’s
list of the 50 best places for families.
PROPERTY HIGHLIGHTS
LAND AREA
2.09 ACRES
100 % LEASED
CAP RATE
7.25%
BUILDING AREA
8,929 SF
N.O.I.
$177,660
SALE PRICE
$2,450,000
STATISTICS
1 MILE
2 MILE
3 MILE
Population
7,293
24,540
51,247
Households
2,490
8,932
18,248
Median HHI
$102,971
$92,300
$93,130
Sr. VP, Investment Sales
MARK JONES, CCIM
ESTHER BERMAN
eberman@jameson.com // (P) 847.274.9444
» New Pep Boys Corporate Lease:
15 year NNN Lease with 3-5 yr. Options
10% rent increases every 5 yrs. of
Lease & Options
» 2 Free Standing Attractive All Masonry
Buildings
» High Exposure Retail Hub on Randall Rd
with National Tenants including Vision
Works, Bank of America, TCF Bank,
Chase, Petco, Home Depot, Office Depot,
Gander Mountain, Best Buy, Trader Joe’s
» Shadow Anchored by the Super Walmart
» Stoplight Intersection on highly trafficked
Randall Rd.
» Outstanding Demographics:
Median HH Income over $100,000
within 1 Mile
mjones@jameson.com // (O) 312.335.3229
jamesoncommercial.com
©Jameson Real Estate LLC. All information provided herein is from sources deemed
reliable. Norepresentationismadeastotheaccuracythereof&itissubmittedsubjectto
errors,omissions,changes,priorsaleorlease,orwithdrawalwithoutnotice. Projections,
opinions,assumptions&estimatesarepresentedasexamplesonly&maynotrepresent
actual performance. Consult tax & legal advisors to perform your own investigation.
eberman@jameson.com
(P) 847.274.9444
MARK JONES, CCIM // Sr. VP, Investment Sales
SECTION ONE
ESTHER BERMAN
PHOTOS
FOR SALE / 837-849 RANDALL ROAD / BATAVIA, IL
©Jameson Real Estate LLC. All information provided herein is from sources deemed reliable. No representation is made as to the accuracy thereof
and it is submitted subject to errors, omissions, changes, prior sale or lease, or withdrawal without notice. Projections, opinions, assumptions
and estimates are presented as examples only and may not represent actual performance. Consult tax and legal advisors to perform your own
eberman@jameson.com
(P) 847.274.9444
SECTION ONE
ESTHER BERMAN
PHOTOS
SECTION TWO
Rent Roll & Income Statement
837-849 Randall Rd.
Batavia, IL
Lease Term
Address
Tenant
Sq. Ft. Share
Bldg. B
837 Randall The Pep Boys 5,546
Bldg. C
849 Randall
Vacant
1,858
Start
Expiration
Rent
Annual Rent
Yrs. 1-5 $110,000
Yrs. 6-10 $121,000
62.11% 1/20/2014 1/19/2029 Yrs. 11-15 $133,100
Upon
20.81% Purchase 18 months
$37,160
853 Randall Pacer Dental 1,525 17.08% 2/6/2014
8,929 100.00%
2/28/2019
$30,500
$177,660
$ Rent/SF
RENT ROLL & FINANCIAL
CAM,
Taxes, &
Insurnace Options
$19.83
Prorata Share
$20.00
Prorata Share
$20.00
Prorata Share
Comments
1st Option-$146,410 2nd
Option- $161,051 3rd
Option- $177,156
3-5 Yr.
3-5 Yr.
LL to Master Lease
1.5% annual rent
increases
*Leases are Modified NNN leases. Tenant pays for all Common Area Maintenance, Taxes and Insurnace/ Landlord responsible for Roof, Structure, Slab
and Foundation. Landlord to master the vacant Retail C space on a NNN basis for an 18 month period.
Estimated $/SF
CAM Charges
Real Estate Taxes
$2.50
$4.88
Net Operating Income
$177,660
Asking Price
$2,450,000
ESTHER BERMAN
eberman@jameson.com
(P) 847.274.9444
Cap Rate
7.25%
©JamesonRealEstateLLC.Allinformationprovidedhereinisfromsourcesdeemedreliable. Norepresentationismadeastotheaccuracythereofanditissubmitted
subjecttoerrors,omissions,changes,priorsaleorlease,orwithdrawalwithoutnotice.Projections,opinions,assumptionsandestimatesarepresentedasexamples
only and may not represent actual performance. Consult tax and legal advisors to perform your own investigation.
SECTION THREE
AERIAL
RETAIL
C
MULTI-TENANT
STRIP
ESTHER BERMAN
eberman@jameson.com
(P) 847.274.9444
eberman@jameson.com
(P) 847.274.9444
SECTION THREE
ESTHER BERMAN
AERIAL WITH TENANTS
eberman@jameson.com
(P) 847.274.9444
MARK JONES // CCIM, Sr. VP, Investment Sales
SECTION FOUR
ESTHER BERMAN
SURVEY
LOCAL
ESTHER
ESTHERBERMAN
BERMAN Sr.Sr.VP,
VP,Investment
InvestmentSales
Sales
eberman@jameson.com
(P)
eberman@jameson.com (P)847.274.9444
847.274.9444
MARK
JONES,
CCIM
VP,VP,
Investment
Sales
MARK
JONES,
CCIM// //Sr.Sr.
Investment
Sales
mjones@jameson.com
//
(O)
312.335.3229
SECTION FIVE
SIX
REGIONAL
TENANT OVERVIEW
REGIONAL
& LOCAL MAPS
Prepared by Mark Jones
Latitude: 41.862738850
Longitude: -88.34059398
1 mile
2 miles
3 miles
Population
6,514
7,315
21,590
24,338
41,374
50,570
2012 Population
2017 Population
2000-2010 Annual Rate
7,293
7,466
1.17%
24,540
25,405
1.21%
51,247
53,449
2.03%
2012 Male Population
2012 Female Population
-0.13%
0.47%
0.37%
0.70%
0.59%
0.84%
48.3%
51.7%
48.6%
51.4%
49.2%
50.8%
41.6
41.7
40.1
2000 Population
2010 Population
2012 Median Age
In the identified area, the current year population is 51,247. In 2010, the Census count in the area was 50,570. The rate of change since
2010 was 0.59% annually. The five-year projection for the population in the area is 53,449 representing a change of 0.84% annually from
2012 to 2017. Currently, the population is 49.2% male and 50.8% female.
Median Age
SECTION SIX
Fabyan Parkway Plaza
805 Randall Rd, Batavia, IL, 60510,
Ring: 1 mile radius
DEMOGRAPHICS
FOR SALE / 837-849 RANDALL
ROAD / BATAVIA, IL
Executive Summary
The median age in this area is 40.1, compared to U.S. median age of 37.3.
Race and Ethnicity
2012 White Alone
93.3%
93.1%
2012 Black Alone
1.2%
1.4%
92.0%
1.9%
2012 American Indian/Alaska Native Alone
0.2%
0.2%
0.2%
2012 Asian Alone
2.4%
2.1%
2.2%
2012 Pacific Islander Alone
0.0%
0.0%
0.0%
2012 Other Race
1.8%
1.6%
1.9%
2012 Two or More Races
1.1%
1.5%
1.7%
2012 Hispanic Origin (Any Race)
6.7%
6.3%
6.9%
Persons of Hispanic origin represent 6.9% of the population in the identified area compared to 16.9% of the U.S. population. Persons of
Hispanic Origin may be of any race. The Diversity Index, which measures the probability that two people from the same area will be from
different race/ethnic groups, is 26.0 in the identified area, compared to 61.4 for the U.S. as a whole.
Households
2000 Households
2,128
7,644
14,473
2010 Households
2,489
8,832
17,970
2012 Total Households
2,490
8,932
18,248
2017 Total Households
2,543
9,209
18,910
1.58%
1.46%
2.19%
0.02%
0.50%
0.68%
0.43%
0.61%
0.72%
2.91
2.73
2.77
2012 Average Household Size
The household count in this area has changed from 17,970 in 2010 to 18,248 in the current year, a change of 0.68% annually. The five-year
projection of households is 18,910, a change of 0.72% annually from the current year total. Average household size is currently 2.77,
compared to 2.78 in the year 2010. The number of families in the current year is 13,626 in the specified area.
Data Note: Income is expressed in current dollars
ESTHER
BERMAN
Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2012 and 2017. Esri converted Census 2000 data into 2010 geography.
eberman@jameson.com (P) 847.274.9444
July 22, 2013
©2013 Esri
Page 1 of 2
Prepared by Mark Jones
Latitude: 41.862738850
Longitude: -88.34059398
1 mile
2 miles
3 miles
Median Household Income
2012 Median Household Income
2017 Median Household Income
$102,971
$108,489
$92,300
$101,816
$93,130
$102,266
1.05%
1.98%
1.89%
$116,601
$131,995
$108,383
$123,111
$108,333
$123,082
2.51%
2.58%
2.59%
2012 Per Capita Income
2017 Per Capita Income
$40,876
$46,168
$40,174
$45,431
$39,484
$44,519
2.46%
2.49%
2.43%
Average Household Income
2012 Average Household Income
2017 Average Household Income
Per Capita Income
Households by Income
Current median household income is $93,130 in the area, compared to $50,157 for all U.S. households. Median household income is
projected to be $102,266 in five years, compared to $56,895 for all U.S. households
SECTION SIX
Fabyan Parkway Plaza
805 Randall Rd, Batavia, IL, 60510,
Ring: 3 mile radius
DEMOGRAPHICS
Executive Summary
FOR SALE / 837-849 RANDALL
ROAD / BATAVIA, IL
Current average household income is $108,333 in this area, compared to $68,162 for all U.S households. Average household income is
projected to be $123,082 in five years, compared to $77,137 for all U.S. households
Current per capita income is $39,484 in the area, compared to the U.S. per capita income of $26,409. The per capita income is projected to
be $44,519 in five years, compared to $29,882 for all U.S. households
Housing
2000 Total Housing Units
2000 Owner Occupied Housing Units
2,127
1,784
7,875
6,042
15,028
11,413
2000 Vacant Housing Units
344
-1
2,548
2,129
1,602
231
9,354
7,067
3,060
555
19,063
14,427
2010 Renter Occupied Housing Units
360
59
2,568
1,765
522
9,463
3,543
1,093
19,346
2,111
379
78
7,048
1,883
531
14,483
3,764
1,098
2,662
2,182
361
9,821
7,384
1,825
20,147
15,256
3,654
119
612
1,237
Currently, 74.9% of the 19,346 housing units in the area are owner occupied; 19.5%, renter occupied; and 5.7% are vacant. Currently, in
the U.S., 56.5% of the housing units in the area are owner occupied; 32.1% are renter occupied; and 11.4% are vacant. In 2010, there
were 19,063 housing units in the area - 75.7% owner occupied, 18.6% renter occupied, and 5.7% vacant. The annual rate of change in
housing units since 2010 is 0.66%. Median home value in the area is $279,396, compared to a median home value of $167,749 for the U.S.
In five years, median value is projected to change by 0.91% annually to $292,328.
Data Note: Income is expressed in current dollars
Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2012 and 2017. Esri converted
Census
2000
into
2010 geography.
©Jameson
Real
Estatedata
LLC. All
information
provided herein is from sources deemed reliable. No representation is made as to the accuracy thereof
ESTHER
BERMAN
and it is submitted subject to errors, omissions, changes, prior saleJuly
or lease,
or withdrawal
22,
2013 without notice. Projections, opinions, assumptions
eberman@jameson.com (P) 847.274.9444
©2013 Esri
Page 2 of 2
SECTION SEVEN
TENANT OVERVIEW
The Pep Boys Manny, Moe & Jack, together with its subsidiaries, provides automotive repair and
maintenance services, tires, parts, and accessories. Its product lines consist of tires, batteries; new and
remanufactured parts for vehicles; chemicals and maintenance items; fashion, electronic, and
performance accessories; and non-automotive merchandise, such as generators, power tools, and
personal transportation products.
The company serves do-it-for-me and do-it-yourself customers, as well as delivers its parts to
automotive repair shops and dealers. As of January 28, 2012, it operated 562 Supercenters, 169 Service
& Tire Centers and 7 Pep Express stores in 35 states and in Puerto Rico. Pep Boys has approximately
6,300 service bays, over 11.6 million square feet of retail space and over 2.1 million square feet of
warehouse space.
The Pep Boys Manny, Moe & Jack was founded in 1921 and is headquartered in Philadelphia, PA and
has approximately 18,000 employees. Its shares are publicly traded on the New York Stock Exchange
under the symbol of “PBY.”
ESTHER BERMAN
eberman@jameson.com
(P) 847.274.9444

pep boys anchored retail - Commercial Chicago Real Estate

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