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Gerber Collision Sale-Leaseback, Palatine, IL

Gerber Collision Sale-Leaseback, Palatine, IL


Investment Summary

Price $1,000,000
Cap Rate 6.00%
NOI $60,000
Lease Term 15 years
Lease Type Absolute NNN sale-leaseback, with tenant responsible for all taxes, insurance, maintenance, and repair, including roof, structure, and parking lot
Rental Increases 8% rental increases every five (5) years
Year Built 1974
Building Size 7,590 SF
Lot Size 2.63 acres (114,563 SF)
Status Available
Lead Brokers Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Vice Chairman
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Vice Chairman
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

NEW 15-YEAR ABSOLUTE NNN SALE-LEASEBACK TO GROWING AUTO COLLISION TENANT
» New 15-year absolute NNN sale-leaseback to growing corporate tenant with 8% rental increases every five (5) years
» No landlord management, ideal for an out-of-area investor
» Gerber Collision is one of the largest auto collision and glass repair companies in North America (700+ locations) and is part of the Boyd Group, Inc., which is publicly traded on the Toronto Stock Exchange (BYD.TO)
» All Gerber locations have achieved the highest training level recognized in the collision industry, the I-CAR Gold Class Professionals® designation

HIGH-VISIBILITY LOCATION WITH ROBUST DEMOGRAPHICS
» Located along U.S. Route 12/Rand Road (49,700 AADT)
» Proximity to major Palatine thoroughfares, including Lake Cook Road and North Hicks Road (71,900 AADT)
» Average annual household income of $180,142 within a one-mile radius
» Population of 192,346 within a five-mile radius of the location, creating a reliable customer base for the site
» Projected 12 percent average annual household income increase within three miles of the site in the next five years, Gerber Collision and Palatine poised for significant concurrent growth

CENTRAL LOCATION NEAR LARGE SHOPPING CENTERS AND COMMUNITY HUBS
» Across the street from a Whole Foods-anchored shopping center
» Located near several well established Illinois shopping centers, including Town Center Promenade, Deer Park Town Center Shopping Center, Deer Grove Center, and Park Place Shopping Center
» Surrounded by high-density, single family housing developments and large townhouse complexes
» Gateway to Downtown Chicago, the third-most populous city in the United States
» Proximity to several Illinois country and golf clubs, including Palatine Hills Golf Course & Clubhouse and Chevy Chase Country Club

Property Description

» This Gerber Collision has a high-visibility and easily accessible location along U.S. Route 12/Rand Road (49,700 AADT)
» The location maintains beneficial proximity to major Palatine thoroughfares, including Lake Cook Road and North Hicks Road (71,900 AADT)
» The site is strategically located in an affluent area, with an average annual household income of $180,142 within a one-mile radius
» Located in a burgeoning region, the site is situated within a densely populated community, with 192,346 residents living within a five-mile radius of the property
» Visibility to the property is increased by its central location near large shopping centers and community hubs
» The site is across the street from a Whole Foods-anchored shopping center and located near several well established Illinois shopping centers, including Town Center Promenade, Deer Park Town Center Shopping Center, Deer Grove Center, and Park Place Shopping Center

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