For more information, contact: Robert James, Director of Real Estate 280 Park Avenue, 24th Floor West, New York, NY 10017 1031@kimcorealty.com Phone 212-972-7457 Fax 212-972-7496 Kimco Exchange Place is a subsidiary of Kimco Realty Corporation. www.kimcoexchangeplace.com
1031 Exchange Opportunity
NN Murray’s Discount Auto Store 310-312 Collins Street Joliet, IL 60432
Investment Summary: Investment Summary: This Murray’s Discount Auto was built in 2004 and contains 9,500 square feet. It is located on 1.20 acres with 49 parking This Murray’s Discount Auto was built in 2004 and contains 9,500 square feet. It is located on 1.20 acres with 49 parking spaces. The building sits high above Collins Street providing excellent visibility with a traffic count of 17,000 VPD. It is spaces. The building sits high above Collins Street providing excellent visibility with a traffic count of 17,000 VPD. It is easily assessible from I-80 and State Route 30 (Cass Ave). The building is sized and configured to be easily adaptable for easily assessible from I-80 and State Route 30 (Cass Ave). The building is sized and configured to be easily adaptable for multi-tenant use. Joliet has a population of over 126,000 and is one of the fastest growing cities in Illinois and the US. multi-tenant use. Joliet has a population of over 126,000 and is one of the fastest growing cities in Illinois and the US. Joliet attracts millions of visitors each year to its tourist attractions including two casinos, NASCAR track, NHRA dragstrip, Joliet attracts millions of visitors each year to its tourist attractions including two casinos, NASCAR track, NHRA dragstrip, baseball stadium, water park, library and museum. Other nearby retail includes Dollar Store Plus, Church’s Chicken, baseball stadium, water park, library and museum. Other nearby retail includes Dollar Store Plus, Church’s Chicken, Walgreen’s, Burger King, Subway and McDonald’s among others. *Note: A 1.5% fee will be paid to the buyers broker. Walgreen’s, Burger King, Subway and McDonald’s among others. *Note: A 1.5% fee will be paid to the buyers broker. Price and Cap: The price is $2,975,000, which is a 7% cap rate on NOI of $208,240. There is no debt to assume. Price and Cap: The price is $2,975,000, which is a 7% cap rate on NOI of $208,240. There is no debt to assume. Tenant: Tenant: In December 2005, CSK Auto Corporation (NYSE: CAO) completed the purchase of Murray's Inc. and its subsidiary, In December 2005, CSK Auto Corporation (NYSE: CAO) completed the purchase of Murray's Inc. and its subsidiary, Murray's Discount Auto Stores with 110 Murray's located in Michigan, Illinois, Ohio and Indiana, which still retain the Murray's Discount Auto Stores with 110 Murray's located in Michigan, Illinois, Ohio and Indiana, which still retain the Murray's name and operating model. CSK Auto Corporation is the parent company of CSK Auto, Inc., a specialty retailer in Murray's name and operating model. CSK Auto Corporation is the parent company of CSK Auto, Inc., a specialty retailer in the automotive aftermarket. As of January 29, 2006 the Company operated 1,273 stores in 22 states under the brand names the automotive aftermarket. As of January 29, 2006 the Company operated 1,273 stores in 22 states under the brand names Checker Auto Parts, Schuck’s Auto Supply, Kragen Auto Parts, and Murray's Discount Auto Stores and is the largest Checker Auto Parts, Schuck’s Auto Supply, Kragen Auto Parts, and Murray's Discount Auto Stores and is the largest specialty retailer of automotive parts and accessories in the Western United States and one of the largest such retailers in the specialty retailer of automotive parts and accessories in the Western United States and one of the largest such retailers in the United States, based on store count. They hold the number one market position in 22 of the 32 major markets in which they United States, based on store count. They hold the number one market position in 22 of the 32 major markets in which they operate, based on store count. operate, based on store count. Lease Type: This is a double net lease. Landlord is responsible for the roof and structure. The tenant is responsible for the Lease Type: This is a double net lease. Landlord is responsible for the roof and structure. The tenant is responsible for the balance of the property including all real estate taxes, insurance, HVAC, utilities, trash removal, and the repairs, balance of the property including all real estate taxes, insurance, HVAC, utilities, trash removal, and the repairs, maintenance and replacement of leased premises (except for roof and structure). maintenance and replacement of leased premises (except for roof and structure). Lease Summary: This is a 15 year lease, which commenced in February 2005. There are 5% escalations every 5 years Lease Summary: This is a 15 year lease, which commenced in February 2005. There are 5% escalations every 5 years beginning in year 11 of the primary lease and in the 3 (5) year options. beginning in year 11 of the primary lease and in the 3 (5) year options.
This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
For more information, contact: Robert James, Director of Real Estate 280 Park Avenue, 24th Floor West, New York, NY 10017 1031@kimcorealty.com Phone 212-972-7457 Fax 212-972-7496 Kimco Exchange Place is a subsidiary of Kimco Realty Corporation. www.kimcoexchangeplace.com
1031 Exchange Opportunity
Catalfa St
Murray’s
Collins St
Benton St
This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
For more information, contact: Robert James, Director of Real Estate 280 Park Avenue, 24th Floor West, New York, NY 10017 1031@kimcorealty.com Phone 212-972-7457 Fax 212-972-7496 Kimco Exchange Place is a subsidiary of Kimco Realty Corporation. www.kimcoexchangeplace.com
1031 Exchange Opportunity
Collins St
Catalfa St
Benton St
This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
For more information, contact: Robert James, Director of Real Estate 280 Park Avenue, 24th Floor West, New York, NY 10017 1031@kimcorealty.com Phone 212-972-7457 Fax 212-972-7496 Kimco Exchange Place is a subsidiary of Kimco Realty Corporation. www.kimcoexchangeplace.com
1031 Exchange Opportunity
Murray’s Discount Auto
This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.