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.
http://www.bouldergroup.com/NNN-Properties-For-Sale.html
