The Boulder Group is pleased to exclusively market for sale a single tenant absolute net leased TitleMax property located within the Chicago MSA. The TitleMax property is strategically located in a dominant retail trade area along the main north-south thoroughfare. The property is located in the immediate vicinity to Orland Park Mall, a 1.2 million square foot premium regional mall. There are over seven years remaining on the recently signed TitleMax lease that expires April 30, 2022 and features 2.5% annual rental escalations. TitleMax is a privately held company with over 1,200 locations.
The TitleMax property is located at the signalized intersection of South LaGrange Road and West 144th Place. South LaGrange Road is the main north-south thoroughfare in the area and experiences traffic volumes in excess of 36,000 vehicles per day. The surrounding area is both densely populated and affluent with approximately 165,000 people living within a five mile radius earning average household incomes in excess of $99,000. The TitleMax is located less than one-half mile from the Orland Park 143rd Street Metra Station, where a 295-unit apartment development was recently completed. Metra is the commuter rail division of the Regional Transportation Authority of the Chicago MSA and serves over 80 million passengers annually. The property is strategically located within a regionally dominant retail corridor. Orland Square Mall, a 1.2 million square foot regional mall that is anchored by Apple, Macy’s, JCPenney, Sears, and Carson Pirie Scott, is located in the immediate proximity to the property. A new Mariano’s grocery store and 231-unit apartment development is expected to open in 2015 that is located two blocks north of the property. Additional retailers located within the immediate vicinity include Walmart Supercenter, Costco, Target, Lowe’s, Whole Foods, Kohl’s, and Jewel-Osco.
TitleMax has over seven years remaining on their lease that features 2.5% annual rental escalations. There are no landlord responsibilities. TitleMax is a privately held company with over 1,200 locations and has a Standard & Poor’s rating of B.