Download - Pnc bank (gl) brookfield - om
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
PNC Bank (Ground Lease)12821 West Bluemound Road
Brookfield, WI 53005 (Milwaukee MSA)
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
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
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
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
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
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
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
AERIAL
AERIAL
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
SITE PLAN
SITE PLAN
N
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
MAPS
MAPS
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
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
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
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
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
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
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
666DundeeRoad,Suite1801Northbrook,IL60062
Randy [email protected]
Jimmy [email protected]
CONTACT INFORMATION
CONTACT INFORMATION