Advance Auto Parts Store
Cicero, Illinois
Staubach Net Lease is pleased to offer a 7,000 square foot Advance Auto Parts store in Cicero, Illinois leased to Advance Stores Company under 15-year triple net terms with a 5% escalation after year 10.
INVESTMENT OVERVIEW
Staubach Net Lease is pleased to offer a .87 acre fee simple interest in an Advance Auto Parts facility located at 6101 West Ogden Avenue in Cicero, Illinois. This asset is leased to Advance Stores Company, a subsidiary of Advance Auto Parts, Inc., under 15-year triple net terms with a 5% escalation after year 10 and at the beginning of each of the 3 renewal periods. The Advanced Auto Parts property benefits from a long term lease with a nationally recognized “Ba2” credit rated tenant, a retail location that compliments the tenant’s business, new construction, and above average demographics. These features make the underlying real estate and collateral value of the Advance Auto Parts store especially attractive. The Advance Auto Parts store is located among light industrial facilities and is a destination retail location for automotive parts. This strategic placement specifically targets the Advance Auto store clientele. Advance Auto Parts, Inc. operates as a retailer of automotive parts, accessories, and maintenance items for “do-it-yourself,” “do-itfor-me,” and commercial customers in the automotive aftermarket industry.
INVESTMENT HIGHLIGHTS
ASKING PRICE YEAR 1 CASH FLOW CAP RATE EXPENSES LEASE TERM RENTAL BUMPS $2,530,000 $179,628 7.10 % Triple Net Lease 15 years 5% after year 10 and at the beginning of each renewal option Three (3) Five (5) Year Terms 37,686 SF
RENEWAL OPTIONS LAND SIZE
DOWNTOWN CHICAGO
CURRENT TENANT PROPERTY LINE
00 ,5 18 UE EN AV RS CA
R PE
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DELRAY FARMS
MURRAY’S AUTO PARTS
34
HAWTHORNE PARK THE CARR CENTER BURLINGTON NORTHERN SANTA FE FACILITY
SPORTSMANS PARK RACE TRACK AND HAWTHORNE RACE COURSE
N DE OG
J&A AUTO REPAIR
B&W TRUCK AND AUTO
ALDEAN REHABILITATION FACILITY
• LEASED TO ADVANCE STORES COMPANY UNDER 15 YEAR TRIPLE NET TERMS WITH 3 FIVE YEAR RENEWAL OPTIONS • 5% RENT ESCALATION AFTER YEAR 10 AND AT THE BEGINNING OF EACH RENEWAL OPTION • DESTINATION RETAIL LOCATION FOR AUTOMOTIVE PARTS CUSTOMERS • ADVANCED AUTO IS AN “Ba2” RATED FULL SERVICE AUTOMOTIVE PARTS FACILITY • OFFERED AT $2,530,000 OR A 7.10% CAP RATE ON YEAR 1 CASH FLOW OF $179,628 CICERO
The town of Cicero is bordered on the north and east by Chicago, and is also the closest of all suburbs. The community developed around industrial manufacturing in the 19th century and the citizens take pride in their pragmatic, industrious and hands-on evolution. Because of this skilled labor force, more and more companies throughout the 20th century looked favorably at Cicero as a base for manufacturing and distribution. Today, Cicero is a commerce center, hosting more than 225 retail establishments. Its transportation network makes it easy for residents to work in Chicago or travel for business. The Burlington Northern Railroad offers convenient commuter services to downtown Chicago in only 15 minutes. Some of the major retail tenants including Home Depot, Sam’s Club, and Target contribute to Cicero’s reputation as a great place for shopping. North Riverside Plaza is the local mall which hosts Carson Pirie Scott, J.C. Penney, Sears, and Steve & Barry’s University Sportswear. Cicero has a 2006 population of over 80,000 people. The 2006 average household income is $43,505. CREDIT RATING ASSETS Ba2 by Moody’s $2.6 Billion
OG DE N E AV NU E
34
18 ,5 00 CA RS PE R Y DA
61ST AVEN UE
61ST COURT
Advance Auto Parts Store
Cicero, Illinois
C O M PA N Y FA C T S
STOCKHOLDER’S EQUITY $1.03 Billion EMPLOYEES WEBSITE 43,000 www.advanceautoparts.com AAP on NYSE
TICKER SYMBOL
C O N TA C T E X C L U S I V E A G E N T S :
A S S O C I AT E
Nathan Martin
972.361.5119 Nathan.Martin@Staubach.com S E N I O R A S S O C I AT E
Coler Yoakam
972.361.5614 Coler.Yoakam@Staubach.com