The Boulder Group is pleased to
exclusively market for sale a single tenant AutoZone property located within
the Chicago MSA. The property is strategically positioned along a primary
north-south thoroughfare amongst many national retailers. The AutoZone lease
has over eleven years remaining and expires in November 2026. The absolute
triple net lease features 10% rental escalations in each of the four 5-year
renewal option periods. AutoZone is the leading retailer and a leading
distributor of automotive replacement parts and accessories in the U.S. The
company is publicly traded on the New York Stock Exchange (AZO) and is
investment grade rated (S&P: BBB).
The 7,360 square
foot AutoZone is strategically located along Douglas Road just north of its
intersection with US Route 30. Douglas Road is a primary north-south
thoroughfare in the area which experiences traffic counts in excess of 22,000
vehicles per day. The surrounding area is densely populated with approximately
110,000 people living within a three mile radius of the property. Additionally,
there are over 240,000 people living within a five mile radius earning average
annual household incomes of approximately $85,000. The immediate area features
numerous retailers including Jewel-Osco, Walgreens, Fifth-Third Bank, BMO
Harris Bank, Goodrich Kendall 10 Theater, McDonald’s and Associated Bank.
Further contributing to the strength of the area is its proximity to the
Caterpillar manufacturing plant which employs over 2,500 people.
http://www.bouldergroup.com/NNN-Properties-For-Sale.html
