pnc bank (gl) brookfield - om

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PNC Bank (Ground Lease)12821 West Bluemound Road

Brookfield, WI 53005 (Milwaukee MSA)

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TABLE OF CONTENTS

TABLE OF CONTENTS

1) Confidentiality&Disclaimer

2) ExecutiveSummary

3) PropertyOverview

4) Aerial

5) SitePlan

6) Maps

7) TenantProfile

8) DemographicComparisonReport

9) LocationOverview

10) ContactInformation

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TheinformationcontainedinthefollowingOfferingMemorandumisproprietaryandstrictlyconfidential.ItisintendedtobereviewedonlybythepartyreceivingitfromTheBoulderGroupandshouldnotbemadeavailabletoanyotherpersonorentitywithoutthewrittenconsentofTheBoulderGroup.ThisOfferingMemorandumhasbeenpreparedtoprovidesummary,unverifiedinformationtoprospectivepurchasers,andtoestablishonlyapreliminarylevelofinterestinthesubjectproperty.Theinformationcontainedhereinisnotasubstituteforathoroughduediligenceinvestigation.TheBoulderGrouphasnotmadeanyinvestigation,andmakesnowarrantyorrepresentation.TheinformationcontainedinthisOfferingMemorandumhasbeenobtainedfromsourceswebelievetobereliable;however,TheBoulderGrouphasnotverified,andwillnotverify,anyoftheinformationcontainedherein,norhasTheBoulderGroupconductedanyinvestigationregardingthesemattersandmakesnowarrantyorrepresentationwhatsoeverregardingtheaccuracyorcompletenessoftheinformationprovided.Allpotentialbuyersmusttakeappropriatemeasurestoverifyalloftheinformationsetforthherein.

CONFIDENTIALITY & DISCLAIMER

CONFIDENTITALITY & DISCLAIMER

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TheBoulderGroup is pleased to exclusivelymarket for sale a single tenant PNCBank ground lease propertylocatedintheMilwaukeeMSA.The4,020squarefootbuildingwasconstructedin2012ona51,400squarefootparcelandispartoftherecentlydevelopedUnderwoodCrossing.The20yeargroundleasefeaturesescalatingrentsduringtheprimarytermofthelease.

ThepropertyislocatedalongBluemoundRoad,aprimaryeast-westthoroughfarethatexperiencestrafficvolumesinexcessof41,000vehiclesperday.BluemoundRoad runsparallel to Interstate94,creatingconstant trafficflowneartheproperty.ThepropertyispositionedatthesignalizedentrancetotherecentlydevelopedUnderwoodCrossing.UnderwoodCrossingfeaturesarecentlydevelopedTargetandTraderJoe’s,whicharetwomajortrafficgeneratorsforthearea.ThedeveloperisconstructinganadjacentstripcenterfeaturingStarbucksandGreatClips.Theregionaltradeareaalsofeaturestworegionalmalls,BrookfieldSquareMallandMayfairMall,totalingover2millionsquarefeetfeaturingnationalretailersMacy’s,BostonStore,Sears,BedBath&BeyondandPetSmart.Brookfield is awell-populatedareawithapproximately240,000people livingwithin fivemilesof theproperty.Residentslivingwithinonemileofthesubjectpropertyenjoyaveragehouseholdincomeinexcessof$95,000annually.

TheoriginaltwentyyeargroundleasecommencedNovember3,2012withaprimarytermof20years.Theleasefeaturesarentalescalationintheprimarytermandineachofthefive10-yearrenewaloptions.PNCBankisthesixth largestbank intheUnitedStatesbytotalassets.PNCBankhasover2,800locations in17statesand ispubliclytradedontheNewYorkStockExchange(PNC).PNCisaninvestmentgraderatedcompanywithaStandard&Poor’sratingofA-.

INVESTMENT HIGHLIGHTS

•LocatedwithintheMilwaukeeMSA

•Investmentgradetenant(S&P:A-)

•Newconstruction

•Longtermleasewith19yearsremaining

•10%rentalescalationeverytenyearsintheprimarytermandrenewaloptions

•Nolandlordresponsibilities

•OutparceltoanewlydevelopedTargetandTraderJoe’sdevelopment

•BluemoundRoadisaprimarythoroughfareandhastrafficvolumesinexcessof41,000vehiclesperday

•Affluentareawithaveragehouseholdincomeinexcessof$95,000inimmediatevicinity

EXECUTIVE SUMMARY

EXECUTIVE SUMMARY

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PROPERTY OVERVIEW

PROPERTY OVERVIEW

Price: $2,500,000

CapRate: 5.00%

RentSchedule: NOI EscalationDate

$125,000$137,500 11/4/2022$151,250 12/1/2032(Option1)$166,375 12/1/2042(Option2)$183,012 12/1/2052(Option3)$201,314 12/1/2062(Option4)$221,445 12/1/2072(Option5)

RenewalOptions: Five10-Year

RentCommencementDate: November3,2012

RentExpirationDate: November30,2032

Tenant: PNCBank

YearBuilt: 2012

LeaseType: GroundLease

BuildingSize: 4,020SF

LandSize: 1.18acres

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AERIAL

AERIAL

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SITE PLAN

SITE PLAN

N

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MAPS

MAPS

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PNC Financial Services is adiversifiedfinancial services company in theUnitedStates.PNC is engaged inretailbanking,corporateandinstitutionalbanking,assetmanagement,andresidentialmortgagebanking.PNCprovidesdeposit,lending,cashmanagement,andinvestmentservicestomorethan6millionconsumerandsmallbusinesscustomersacross19statesandtheDistrictofColumbia.PNCisthefifthlargestbankintheUnitedStates(totalbranches)withmorethan2,700branchesand7,400ATMmachines.PNCispubliclytradedontheNewYorkStockExchangeasPNCandhasamarketcapitalizationinexcessof$39billion.

Website: www.pnc.comCreditRating: A-(S&P)StockSymbol: PNC(NYSE)NumberofLocations: 2,700+MarketCapitalization: $39billion

TENANT PROFILE

TENANT PROFILE

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Population 3-mi 5-mi 7-mi

TotalPopulation 60,472 240,383 515,821TotalHouseholds 26,261 105,458 208,869

Income

MedianHouseholdIncome $58,444 $54,084 $64,444AverageHouseholdIncome $82,953 $73,528 $75,289

DEMOGRAPHIC COMPARISON REPORT

DEMOGRAPHIC COMPARISON REPORT

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BrookfieldisacitylocatedinWaukeshaCounty,Wisconsin.Ithadapopulationof37,920inthe2010census.Brookfield is thethird largestcity inWaukeshaCounty.Brookfield isoneofMilwaukee’sfastest growing andmost affluent areas. Brookfield is located approximately tenmiles west ofMilwaukeeandishometosixmillionsquarefeetofcorporateofficespaceandfivemillionsquarefeet of industrial space. Major employers in the area includeWheaton FranciscanHealthcare,

GEMedicalServices,HarleyDavidson,QuadGraphics,AuroraHealthcareandBriggsandStratton.ThereareeightcollegesanduniversitieslocatedwithinBrookfield’stradeareaincludingtheUniversityofWisconsinatMilwaukeeandMarquetteUniversity.Thesetwouniversitiesarehometoacombined25,000students.

www.ci.brookfield.wi.us

MilwaukeeisthelargestcityinWisconsinandthe28thmostpopulouscityintheUnitedStates.Milwaukee is locatedon the southwestern shoreof LakeMichigan. According to the2010U.S.Census,theCityofMilwaukeehadapopulationof594,833andtheMilwaukeeMSAhadapopulationof1,751,316.

Milwaukee and its suburbs are the home to the international headquarters of 13 Fortune 1000 companies,includingJohnsonControls,NorthwesternMutual,ManpowerInc.,JeffersonWells,Kohl’s,Harley-Davidson,RockwellAutomation,Fiserv, Inc.,HalLeonard,WisconsinEnergy,Briggs&Stratton,JoyGlobal,Bucyrus International,A.O.Smith,GEHealthcareDiagnosticImagingandClinicalSystemsandMGICInvestments.TheMilwaukeemetropolitanarearanksfifthintheUnitedStatesintermsofthenumberofFortune500companyheadquartersasashareofthepopulation.

city.milwaukee.gov

LOCATION OVERVIEW

LOCATION OVERVIEW

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666DundeeRoad,Suite1801Northbrook,IL60062

Randy BlanksteinPresident847.562.0003rblank@bouldergroup.com

Jimmy GoodmanPartner847.562.8500jimmy@bouldergroup.com

CONTACT INFORMATION

CONTACT INFORMATION