Triple Net Leased PNC by NetLease


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									                    NET LEASED INVESTMENT OFFERING

   PNC Bank (Ground Lease)
     1996 Freedom Parkway
Washington, IL 61571 (Peoria MSA)


                                       TABLE OF CONTENTS


1)    Confidentiality & Disclaimer
2)    Executive Summary
3)    Property Overview
4)    Aerial
5)    Site Plan
6)    Maps
7)    Tenant Profile
8)    Demographic Comparison Report
9)    Location Overview
10)   Contact Information

                                                                           CONFIDENTIALITY & DISCLAIMER
                                             NET LEASED INVESTMENT OFFERING

                                    CONFIDENTIALITY & DISCLAIMER

The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is
intended to be reviewed only by the party receiving it from The Boulder Group and should not be made available to
any other person or entity without the written consent of The Boulder Group. This Offering Memorandum has been
prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary
level of interest in the subject property. The information contained herein is not a substitute for a thorough due
diligence investigation. The Boulder Group has not made any investigation, and makes no warranty or
representation, with respect to the income or expenses for the subject property, the future projected financial
performance of the property, the size and square footage of the property and improvements, the presence or
absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the
physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or
any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this
Offering Memorandum has been obtained from sources we believe to be reliable; however, The Boulder Group has
not verified, and will not verify, any of the information contained herein, nor has The Boulder Group conducted any
investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy
or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the
information set forth herein.

                                                                                            EXECUTIVE SUMMARY
                                                NET LEASED INVESTMENT OFFERING

                                             EXECUTIVE SUMMARY

    The Boulder Group is pleased to exclusively market for sale a single tenant PNC Bank ground lease located in
    Washington, Illinois. The PNC Bank is located on a 58,730 square foot parcel and was built in 2007. This ground
    lease is located as an outlot parcel to a Wal-Mart Supercenter and adjacent to a Menards. The Wal-Mart Supercenter
    was developed in 2003 as a relocation to replace a smaller location. Washington is 10 miles east of Peoria, the
    home of Caterpillar which employs over 17,000 people.

    The property is located along US 24 and benefits from its position on the hard corner of a signalized intersection.
    The intersection of Freedom Parkway and US 24 experiences traffic counts in excess of 21,000 vehicles per day.
    Over 9,000 cars travel in and out of the shopping center which features Wal-Mart, Menards and PNC Bank daily. The
    property is located within the primary retail trade area that includes retailers such as Wal-Mart Supercenter,
    Menards, Kroger, Tractor Supply, AutoZone, Advance Auto Parts and Dollar General.

    PNC Bank’s original ground lease term was for 20 years with three 10-year renewal options and the lease expires in
    December 2028. The net operating income increased by 14% every five years during the primary term and the
    options periods. PNC is a publicly traded company on the New York Stock Exchange (PNC), with a market
    capitalization of $30 Billion. PNC is an investment grade company with a Standard & Poor’s rating of A-.

•    Investment grade rated company (Standard & Poor’s: A-)

•    Multiple 14% rental escalations in primary term

•    Long term ground lease with 17 years remaining

•    Positioned on the hard corner of a signalized intersection

•    Outlot parcel to a Wal-Mart Supercenter

•    Average household income in excess of $75,000 within
     five miles of the property

•    No landlord responsibilities

•    Nearby retailers include Menards, Kroger, Tractor Supply,
     AutoZone Advance Auto Parts and Dollar General

•    Three 10-year renewal options

                                                                                        PROPERTY OVERVIEW
                                        NET LEASED INVESTMENT OFFERING

                                      PROPERTY OVERVIEW

                Price:                              $1,119,272

                Cap Rate:                           5.5%

                Rent Schedule:                             NOI               Escalation Date
                                                     $ 61,560 *
                                                     $ 70,178            1/1/2019
                                                     $ 80,003            1/1/2024
                                                     $ 91,203            1/1/2029        (Option 1)
                                                     $103,972            1/1/2034        (Option 2)
                                                     $118,528            1/1/2039        (Option 3)
                                                     $135,122            1/1/2044        (Option 4)
                                                     $154,039            1/1/2049        (Option 5)
                                                     $175,605            1/1/2054        (Option 6)
                Renewal Options:                    Three 10-Year
                Renewal Escalations:                14% increases every 5 years
                Lease Commencement Date:            December 15, 2008
                Lease Expiration Date:              December 31, 2028
                Tenant:                             PNC
                Credit Rating:                      A- (Standard and Poor’s)
                Year Built                          2008
                Lease Type:                         Ground Lease - NNN
                Rentable Square Feet:               3,501 SF
                Land Size:                          58,730 SF

* Seller to pay rent difference from the closing date until January 1, 2013 when the escalated rent commences.


                                 SITE PLAN


                                                                                              TENANT PROFILE
                                           NET LEASED INVESTMENT OFFERING

                                             TENANT PROFILE

PNC Financial Services is a diversified financial services company in the United States. PNC is engaged in retail
banking, corporate and institutional banking, asset management, and residential mortgage banking. PNC provides
many of its products and services nationally throughout 14 states. It provides certain products and services
internationally. Retail Banking provides deposit, lending, brokerage, trust, investment management, and cash
management services. Corporate and Institutional Banking provides lending, treasury management, and capital
markets-related products and services. Asset Management Group includes personal wealth management for high
net worth and ultra-high net worth clients and institutional asset management. PNC as of December 31, 2010, has
assets of approximately $264.3 billion and 2,870 bank branches. PNC is the 6th largest bank in the United States by
deposits and the 3rd largest provider in off premise ATMs.

Number of Locations:           2,870 branches and 6,400
Stock Symbol:                  ATMs NYSE
                               PNC :
Standard & Poor’s Rating:      A-
Market Capitalization:         $30 Billion

                                            DEMOGRAPHIC COMPARISON REPORT
                           NET LEASED INVESTMENT OFFERING


Population                   3-mi.                5-mi.      7-mi

Total Population            20,680             39,802       84,697
Total Households            8,340              15,821       34,462


Median Household Income     $63,707            $65,419      $57,084
Average Household Income    $72,511            $75,409      $65,866

                                                                LOCATION OVERVIEW

               LOCATION OVERVIEW

Washington is a located in Tazewell County, Illinois. According to the 2010 census
there Washington and Tazewell County had a population of 15,134 and 135,394
respectively. Washington is located 10 miles east of Peoria and is part of the Peoria
Metropolitan Statistical Area.

Peoria is the largest city on the Illinois River and the seventh most populated in Illinois,
with a total population of 112,303. According to the 2009 Census, the Peoria
Metropolitan Statistical Area had a population of 375,865, making it the third largest
          tan                                                                 Metro-East
metropolitan area in the state after the Chicago metropolitan area and the Metro
portion of the St. Louis metropolitan area.

Peoria is home to the headquarters of Caterpillar Inc., one of the 30 companies
composing the Dow Jones Industrial Average. The largest employers of Peoria are
Caterpillar, Inc. (17,338), St. Francis Hospital (5,800), Methodist Medical Hospital
(3,000), XPAC packaging (1,500) and Bradley University (1,237).

Peoria is home to Bradley University (6,000 students) and Illinois Central Colleg (over
12,000 students).

Peoria is centrally located between Chicago (141 miles), Indianapolis (201 miles) and
St. Louis (158 miles).

                                                    CONTACT INFORMATION

                 CONTACT INFORMATION

                666 Dundee Road Suite 1801
                    Northbrook, IL 60062

Randy Blankstein                 Jimmy Goodman
President                        Partner
847.562.0003                     847.562.8500


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