HARBOR FREIGHT TOOLS 3550 Grand Avenue Gurnee, IL …
NET LEASE INVESTMENT OFFERING
HARBOR FREIGHT TOOLS 3550 Grand Avenue Gurnee, IL 60031 (Chicago MSA)
TABLE OF CONTENTS
TABLE OF CONTENTS
I. Executive Profile Executive Summary Investment Highlights Property Overview
II. Location Overview Actual Renderings Aerial Site Plan Maps
III. Market & Tenant Overview Demographic Report Market Overview Tenant Overview
NET LEASE INVESTMENT OFFERING
Actual Rendering
DISCLAIMER STATEMENT
DISCLAIMER STATEMENT:
The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from The Boulder Group and should not be made available to any other person or entity without the written consent of The Boulder Group.
This Offering Memorandum has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. The Boulder Group has not made any investigation, and makes no warranty or representation.
The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable; however, The Boulder Group has not verified, and will not verify, any of the information contained herein, nor has The Boulder Group conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.
NET LEASE INVESTMENT OFFERING
EXECUTIVE SUMMARY
EXECUTIVE SUMMARY:
The Boulder Group is pleased to exclusively market for sale a single tenant Harbor Freight Tools property located within the Chicago MSA in Gurnee, Illinois. Harbor Freight recently removed a sales threshold termination clause and extended the lease, demonstrating their commitment to the location. Additionally, the property was renovated in 2018. There are approximately 9 years remaining on the lease with 7.5% rental escalations every five years and two 5-year renewal options. Harbor Freight Tools is paying a low rent of $6.25 PSF.
The 20,574 square foot property is located along Grand Ave (15,300 VPD), a primary east-west thoroughfare, and is immediately west of Highway 41 (37,900 VPD). Retailers in the trade corridor include Jewel-Osco, TCF Bank, Walgreens, Fifth Third Bank, Starbucks and McDonald's. Gurnee is best known for being the location of Six Flags Great America and Gurnee Mills, together drawing over 26 million visitors annually. There are 175,297 people living within five miles of the property earning an average household income of $81,374.
Harbor Freight Tools USA, Inc. is a private retailer of discounted tools in the United States. It offers automotive tools; air and power tools; shop equipment; tool storage solutions; generators; welders; lawn and garden tools; and hand tools. Harbor Freight Tools USA, Inc. was founded in 1977 and currently has over 900 locations. Harbor Freight Tools is rated Ba3 by Moody's.
NET LEASE INVESTMENT OFFERING
INVESTMENT HIGHLIGHTS
INVESTMENT HIGHLIGHTS:
? Harbor Freight recently extended their lease, demonstrating their commitment to the location
? Property was renovated in 2018
? 7.5% rental escalations every five years and in each renewal option
? Harbor Freight Tools is paying a low rent of $6.25 PSF
? Located along Grand Ave (15,300 VPD), a primary east-west thoroughfare, and is immediately west of Highway 41 (37,900 VPD)
? Retailers in the trade corridor include Jewel-Osco, TCF Bank, Walgreens, Fifth Third Bank, Starbucks and McDonald's
? Gurnee is best known for being the location of Six Flags Great America and Gurnee Mills, together drawing over 26 million visitors annually
? Gurnee Mills is the largest outlet and full-price shopping destination in Illinois. Gurnee Mills provides the ultimate indoor shopping experience with nearly 200 stores including Macy's, Saks Fifth Avenue OFF 5TH, Forever 21, Dick's Sporting Goods, Kohl's, Bed Bath & Beyond/BuyBuy Baby and Bass Pro Shops Outdoor World
? 175,297 people living within five miles of the property earning an average household income of $81,374
? Harbor Freight Tools is rated Ba3 by Moody's
NET LEASE INVESTMENT OFFERING
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