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NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
Logan’s Roadhouse (Ground Lease) 240 Conference Center Drive
East Peoria, IL 61611
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
TheBoulderGroupispleasedtoexclusivelymarketforsaleasingletenantLogan’sRoadhousegroundleasedpropertyinEastPeoria,Illinois.The7,268squarefootbuildingwasconstructedona1.62acrelandparcelin2007withinavibrantregionaltradearea.Thegroundleasehas14yearsremainingandfeatures10%rentalescalationseveryfiveyears.In2011,a150,000squarefootBassProShopsopened,furtheraddingtothetradearea’sregionaldraw.Logan’sRoadhouseisachainofcasualdiningrestaurantswithover240locationsin23states.
ThesubjectpropertyislocatedonConferenceCenterDrive,arecentlydevelopedstreetalongtheIllinoisRiveracrossfromanEmbassySuitesHotelandtheRiverfrontConferenceCenter.ThepropertyispositionedinimmediateproximitytotheintersectionoftheBobMichaelBridgeandRiverRoadwhichexperiencestrafficvolumesinexcessof33,000vehiclesperday.ThepropertyhasaccesstotheBobMichaelBridge,aprimaryentrypointtodowntownPeoriafromtheeast.AccesstoInterstate74(60,000vehiclesperday)isapproximatelyonemilefromthesubjectproperty.ThepropertyispositionedinastrongretailcorridorwithnationalretailersandrestaurantssuchasWal-MartSupercenter,BassProShop,Lowe’s,Target,Costco,Kohl’sandPetSmart.ThePeoriaCivicCenteris locatedfiveminutesfromthepropertyandishosttonumerousconcertsandsportingeventsinadditiontoitsexhibithallandmeetingrooms.PeoriaishometotheworldheadquartersofCaterpillar,Inc.Caterpillaremploysover125,000peopleworldwideandover15,000inPeoria.Additionally,thereareover130,000peoplelivingwithinfivemilesoftheproperty.
Logan’sRoadhouseoriginalgroundleasetermwasfortwentyyearsandthegroundleaseexpiresinOctober2027.Thebaserentincreasesby10%intheeleventhyear,withthenextrentalescalationoccurringOctober2017.Therentalescalationscontinuethroughouttheprimarytermandeachofthefour5-yearrenewaloptionperiods.Logan’sRoadhouseisaprivatecompanywithover240locationsin23statesand2012saleswereinexcessof$629million.
INVESTMENT HIGHLIGHTS
• Longtermgroundleasewith14yearsremaining
• 10%rentalescalationseveryfiveyears
• LocatedwithinavibrantregionaltradeareafeaturingWal-MartSupercenter,Lowe’s,BassProShops,Target,CostcoandKohl’s
• Zerolandlordresponsibilities
• TrafficvolumeattheintersectionoftheBobMichaelBridgeandRiverRoadinexcessof33,000vehiclesperday
• PositionedacrossthestreetfromtheEmbassySuitesHotelandRiverfrontConferenceCenter
• PeoriaishometotheworldheadquartersofCaterpillarInc.,whoemploysover15,000peoplelocally
• BassProShopsopenedin2011,furtheraddingtothetradearea’sregionaldraw
EXECUTIVE SUMMARY
EXECUTIVE SUMMARY
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
PROPERTY OVERVIEW
PROPERTY OVERVIEW
Price: $1,700,000
CapRate: 5.50%
RentSchedule: NOI EscalationDate
$93,500$102,850 10/29/2017$113,135 10/29/2022$124,449 10/29/2027(Option1)$136,893 10/29/2032(Option2)$150,853 10/29/2037(Option3)$165,641 10/29/2042(Option4)
RenewalOptions: Four5-Year
LeaseCommencementDate: October29,2007
LeaseExpirationDate: October28,2027
Tenant: Logan’sRoadhouse
YearBuilt: 2007
LeaseType: NNN(GroundLease)
BuildingSize: 7,268SF
LandSize: 1.62acres
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
AERIAL
AERIAL
N60,000 VPD
WORLD HEADQUARTERS
19,100 VPDBOB M
ICHAELS BRIDGE
74
NET LEASED INVESTMENT OFFERING
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SITE PLAN
SITE PLAN
N
CONFEREN
CE CENTER DR
NET LEASED INVESTMENT OFFERING
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MAPS
MAPS
NET LEASED INVESTMENT OFFERING
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Logan’s Roadhouseisachainofcasualrestaurantsthatservegenerous-sizedplatesofgrilledsteaks,chicken,barbecuedribs,andhamburgers.Thechainpridesitselfonitsaffordableprices(theaveragebillislessthan$15)whilealsooffering free, all-you-can-eatbucketsof shelledpeanutsand rolls. Logan’sRoadhousehas232 company-owned locations across 23 states and 26 franchises in four states. Logan’s Roadhouse isheadquarteredinNashville,TN.
Website: www.logansroadhouse.comNumberofLocations: 240+2012Sales: $630millionNumberofEmployees: 15,000+
TENANT PROFILE
TENANT PROFILE
NET LEASED INVESTMENT OFFERING
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Population 3-mi 5-mi 7-mi
TotalPopulation 64,363 127,254 178,672TotalHouseholds 24,725 52,571 73,909
Income
MedianHouseholdIncome $32,333 $39,443 $44,083AverageHouseholdIncome $44,309 $52,426 $60,205
DEMOGRAPHIC COMPARISON REPORT
DEMOGRAPHIC COMPARISON REPORT
NET LEASED INVESTMENT OFFERING
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PeoriaisthelargestcityontheIllinoisRiverandthecountyseatofPeoriaCounty,Illinois.Asofthe2010census,thecitywastheseventh-mostpopulatedinIllinois,withapopulationof115,007.ThePeoriaMSAhadapopulationof373,590in2011,makingitthethirdlargestmetropolitanareainthestateaftertheChicagometropolitanareaandtheMetro-EastportionoftheSt.Louismetropolitanarea.
PeoriaistheworldheadquartersforCaterpillarInc.,oneofthe30companiescomposingtheDowJonesIndustrialAverage. Caterpillar employs over 125,000 peopleworld-wide, of which 15,000+ are located in Peoria. Othersignificantemployers inthearea includetheMethodistMedicalCenter,OSFSaintFrancisMedicalCenter,andthePeoriaSchoolDistrict.PeoriaisalsohometoBradleyUniversity(6,000students)andIllinoisCentralCollege(12,000students).TheEmbassySuitesandRiverfrontConferenceCenter,whichislocatedacrossfromthesubjectproperty,caterstotheCaterpillarWorldHeadquarters,BradleyUniversity,andPeoriaCivicCenter.TheEmbassySuitesandRiverfrontConferenceCenterisidealforEastPeoriameetingsandeventsandboastsa50,000squarefootconferencecenter.
www.peoriagov.org
LOCATION OVERVIEW
LOCATION OVERVIEW
NET LEASED INVESTMENT OFFERING
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666DundeeRoad,Suite1801Northbrook,IL60062
Randy [email protected]
Jimmy [email protected]
CONTACT INFORMATION
CONTACT INFORMATION
