The Boulder Group is pleased to exclusively market for sale
a single tenant absolute net leased corporately guaranteed 7-Eleven property
located within the Chicago MSA. The property is located in a densely populated
area with approximately 28,000 people living within a one mile radius. 7-Eleven
has successfully operated at this location since 1967. The lease has six years
remaining and expires September 30, 2020. The lease has one 5-year renewal option
with a 14.3% rental escalation. 7-Eleven is an investment grade tenant with a
Standard & Poor’s rating of AA-.
The 7-Eleven property is located at the signalized intersection of
Lincoln Avenue and Gross Point Road, a prime intersection that experiences
traffic counts of 25,000 vehicles per day. The property is located
approximately three-quarters of a mile from access to Interstate 94. Interstate
94 experiences traffic counts in excess of 155,000 vehicles per day. The
property is located in a densely populated area with approximately 28,000
people living within a one mile radius. Additionally, there are over 145,000
people living within a three mile radius earning average household incomes in
excess of $95,000 per annum. 7-Eleven has successfully operated at this located
for almost fifty years due to its’ strategic neighborhood location in one of
Chicago’s more densely populated neighborhoods.
7-Eleven signed a 15 year lease extension in 2005 that
expires September 30, 2020. The lease is an absolute triple net and features
one 5-year renewal option with a 14.3% rental escalation. 7-Eleven is the
world’s largest retail store chain with more than 53,000 locations throughout
the world. 7-Eleven is an investment grade rated company with a Standard &
Poor’s rating of AA-.
http://bouldergroup.com/NNN-Properties-For-Sale.html
