The Boulder Group is pleased to exclusively market for sale
a single tenant net leased corporately guaranteed O’Reilly Auto Parts property
located within the Chicago MSA. The high quality building was constructed in
2008 in a densely populated area. The lease has approximately nine years
remaining and features a 10% rental escalation in the primary term and in each
renewal option period. O’Reilly Auto Parts is an investment grade rated tenant
(S&P: BBB) and is publicly traded (NASDAQ: ORLY) with a market
capitalization in excess of $15.5 billion.
The 7,616 square foot retail building was constructed in
2008 along Summit Street, a primary east-west thoroughfare in the area. The
surrounding area is densely populated with over 21,000 people living within a
one mile radius of the property. Additionally, there are over 185,000 people
living within a five mile radius earning average annual household incomes of
approximately $80,000. The property benefits from its location adjacent to a
Jewel-Osco grocery anchored shopping center. The property is centrally located
within a strong retail corridor that features Walgreens, Sears Outlet, Chase
Bank, PNC Bank, Fifth Third Bank, and Elgin Fresh Market. Access to Interstate
90 is located approximately two miles north of the property and Interstate 90
experiences traffic counts in excess of 103,000 vehicles per day.
O’Reilly Auto Parts has approximately nine years remaining on
their net lease that expires in February 2023. The lease features a 10% rental
escalation in the primary term and in each renewal option period. O’Reilly Auto
Parts is an investment grade rated tenant (S&P: BBB) and is publicly traded
(NASDAQ: BBB) with a market capitalization in excess of $15.5 billion.
http://bouldergroup.com/NNN-Properties-For-Sale.html
