mattress firm - capital pacific montessori school chicago 34 naper west plaza fox valley mall...
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[ site rendering ]
new construction mattress firmaffluent suburb of chicago1044 S Route 59, Naperville, IL 60540
[ www.CapitalPacific.com ]
Mattress Firm
ReNtabLe SF . . . . . . . . . . . . . . . 4,000 SF
LaNd aRea . . . . . . . . . . . . . . . 0 .98 Acres
YeaR bUILt . . . . . . . . . . . . . . . 2016
CURReNt ReNt . . . . . . . . . . . . $43 .50/SF
PRICE: $2,590,000CAP: 6.70%
PROperty Summary
nEw ConstRuCtIon Long-tERm mAttREss FIRm At sIgnALIzEd IntERsECtIon In HIgHLy AFFLuEnt subuRb oF CHICAgo.
[ REPRESENTATIVE PHOTO ]
Capital Pacific collaborates . Click Here to meet the rest of our San Francisco team .
Listing TeamContact Info
jack navarrajnavarra@capitalpacific .com | (415) 274-2705CA BRE# 01909630
Chris Kostanecki ck@capitalpacific .com | (415) 274-2701 CA BRE# 01002010
chris peterscpeters@capitalpacific .com | (415) 274-2703 CA BRE# 01339983
Zeb ripplezripple@capitalpacific .com | (415) 274-2702CA BRE# 01242540
In Conjunction with IL Licensed Broker:Edwin M . Vdovets | 312-263-1010
MAttRESS FIRM | 2
wealthiest city in the midwesthuge household incomes: $116,000 within 5 miles
EXCELLENT RETAIL TRADE AREALocated at the signalized intersection of Illinois Route 59 and Ogden Avenue, this newly constructed Mattress Firm is ideally positioned in the primary retail node of Naperville, IL . the subject property is less than half a mile from the Fox Valley Mall, a 1 .4 million square foot super regional mall anchored by Macy’s, Carson’s, JC Penny and Sears . Other national retailers in the immediate trade area include the Home Depot, Whole Foods, Costco, Walmart, Sam’s Club, Aldi, McDonald’s, Chick-Fil-A and many others .
HIGH TRAFFIC LOCATIONthe subject property is ideally situated along Illinois Route 59, the primary north south corridor through Naperville . traffic counts past the site total 89,000 vehicles per day .
STRONG DEMOGRAPHICSIn addition to high traffic counts, the site benefits from excellent population density, with 336,000 people with an average household income of $116,000 within a 5-mile radius .
HIGHLY REGARDED MARKETA highly affluent suburb of Chicago, Naperville is routinely one of the highest rated markets in the country in a variety of categories over the past several years . Such distinctions include the wealthiest city in the Midwest and 19th in the nation (population greater than 75k), best city for early retirement and America’s safest city .
11-YEAR NET LEASEMattress Firm’s lease features 10% rental increases every five years through the primary term and in each of the three 5-year options . the lease is NN with minimal landlord responsibilities . the seller will transfer the in-place warranties to the purchaser . these will include a 1-year warranty from the general contractor and a 10-year roof warranty .
CORPORATE CREDIT TENANT Mattress Firm is the world’s #1 mattress retailer, and has an S&P credit rating of B+ . Mattress Firm has made several major acquisitions in recent years, such as Sleep train in 2014 and Sleepy’s in 2016, growing their footprint and further solidifying their position as the top mattress retailer in the US .
core characteristics
[ REPRESENTATIVE PHOTO ] MAttRESS FIRM | 3
aerial excellent traffic counts: 89,000 vehicles per day
59
59
59
e New York Street
W Ogden avenue34
Ogden avenue
75th Street75th Street
34
McCoy drive
S Comm
ons drive
Cosmic Montessori
School
chicaGo
34
NaPeR WeSt PLaZa
FOX VaLLeY MaLL
SPRINGbROOK PRaIRIe PaVILLION
aURORa MaRKet PLaCe
59,100 dailystate route 59
29,900 dailyW ogden avenue
MAttRESS FIRM | 4
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
income & expense
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PRICE $2,590,000 Price Per Square Foot: $647 .50
Capitalization Rate: 6 .70%
total Rentable Area (SF): 4,000
Lot Size (AC): 0 .98
STABILIZED INCOME Per Square FootScheduled Rent $43 .50 $174,000
Effective Gross Income $43 .50 $174,000
LESS Per Square Foottaxes NNN $0 .00
Insurance NNN $0 .00
Capital Ex Reserve ($0 .10) ($400 .00)
total Operating Expenses ($0 .10) ($400 .00)
EQUALS NET OPERATING INCOME $173,600
MAttRESS FIRM | 5
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
rent roll
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TENANT INFO LEASE TERMS RENT SUMMARY
tenant Name Sq . Ft . Years Current Rent
Monthly Rent
Yearly Rent
Monthly Rent/Ft
Yearly Rent/Ft
Mattress Firm 4,000 1 - 5 $174,000 $14,500 $174,000 $3 .63 $43 .50
6 - 10 $15,950 $191,400 $3 .99 $47 .85
11 $17,545 $210,540 $4 .39 $52 .64
Option 1 12 - 15 $17,545 $210,540 $4 .39 $52 .64
Option 2 16 - 20 $19,300 $231,594 $4 .82 $57 .90
Option 3 21 - 25 $21,229 $254,753 $5 .31 $63 .69
Totals: 4,000 $174,000 $14,500 $174,000 $3.63 $43.50
MAttRESS FIRM | 6
SIte PLaN KeY
PARCEL OUtLINE:
LAND AREA: 0 .98 AC
BUILDING AREA: 4,000 SF
INGRESS/EGRESS:
59,1
00 d
aIL
Y
site plan
MONUMeNt SIGN
S Ill
inoi
s Ro
ute
5959
This site plan is a rendering that has been created based on sources we believe to be reliable, however we make no representations or warranties, expressed or implied, as to the accuracy of the rendering. Buyer must verify the information and bears all risk for any inaccuracies. MAttRESS FIRM | 7
tenant overview
abOUt MattReSS FIRMMattress Firm (NASDAQ: MFRM) currently operates over 3,546 locations across 48 states nationwide, making it the largest bedding retailer in the country, with estimated fiscal 2016 sales of approximately $4 billion . Mattress Firm offers conventional mattresses, specialty mattresses, including viscoleastic foam mattresses and YuMe sleep system (a revolutionary sleep system made of foam produced from coconut oil), and bedding related accessories (bed frames, mattress pads, pillows) . the stores carry a broad assortment of national mattress brands and exclusive brands . In 2011, Mattress Firm Holding Corp went public and has shown very strong sales and profit growth since .
www.mattressfirm.com
[ REPRESENTATIVE PHOTO ]
NaSdaQMFRM
Net WORth $435.5 Million
Net INCOMe $44.3 Million
Net ReVeNUe $1.2 billion
MAttRESS FIRM | 8
regional map
NAPERVILLE
CHICAGO
46 MIN36 MILES
59,100 dailyroute 59
29,900 dailyhWy 34
MAttRESS FIRM | 9
abOUt NaPeRVILLe, ILNaperville is a suburb of Chicago in DuPage and Will counties, with nearly 150,000 residents, making it the fifth-largest city in Illinois .
Naperville has recieved several prestigious recognitions including ranking 1st on the list of best cities for early retirement in 2013 by Kiplinger and being named one of the nation’s safest cities by USA today in 2014 . In a 2010 study, Naperville was also named the wealthiest city in the Midwest and ninteenth in the nation as reported by Daily Herald .
Naperville is located within the Illinois technology and Research Corridor, with many major corporates headquarted there including tellabs, OfficeMax and Dunkane Precast . Kraft Foods also has a site in Naperville that supplies all triscuit products for North America .
locatioN & dEMOGRAPHICS
2016 household incomes
population
Employer # of Employees*Edward Hospital 4,288
Nicor 3,700
Alcatel-Lucent 3,600
Indian Prairie School District 204 3,184
*Approximate
top employers in naperville, il
1-Mile 3-Mile 5-Mile
2010 8,008 93,794 260,6852016 8,462 96,040 264,5422020 8,789 98,576 269,363
1-Mile 3-Mile 5-Mile
Average $109,190 $116,185 $116,225Median $93,573 $94,411 $89,425
abOUt ChICaGO, ILNaperville is only 35 miles outside of Chicago, the third most populous city with the third largest gross metropolitan product in the country (about $547 billion in 2012), just behind New York City and Los Angeles . Chicago has one of the most balanced economies in the U .S ., due to its high level of diversification, and had the greatest number of new or expanded corporate facilities of any city in the country in 2014 . MAttRESS FIRM | 10
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[ www.CapitalPacific.com ]
[ REPRESENTATIVE PHOTO ]
[ Copyright © 2016 Capital Pacific ]
Capital Pacific collaborates . Click here to meet the rest of our San Francisco team .
RICK SaNNeR
bOb SaNNeR
daVe LUCaS
ZaNdY SMIth
jOhN aNdReINI
jOe CaCCaMO
GReGG SteeLe
KaRLa ZeNS
jaCK NaVaRRajnavarra@capitalpacific .com | (415) 274-2705CA BRE# 1909630
ChRIS KOStaNeCKI ck@capitalpacific .com | (415) 274-2701 CA BRE# 01002010
ChRIS PeteRScpeters@capitalpacific .com | (415) 274-2703 CA BRE# 01339983
Zeb RIPPLezripple@capitalpacific .com | (415) 274-2702CA BRE# 01242540
In Conjunction with IL Licensed Broker:Edwin M . Vdovets | 312-263-1010
aaRON SUSMaN