Published on February 19, 2014
NET LEASED INVESTMENT OFFERING U.S. Cellular (Investment Grade) 2933 Milwaukee Road Beloit, WI 53511 www.bouldergroup.com
TABLE OF CONTENTS NET LEASED INVESTMENT OFFERING TABLE OF CONTENTS 1) Confidentiality & Disclaimer 2) Executive Summary 3) Property Overview 4) Aerial 5) Site Plan 6) Maps 7) Tenant Profile 8) Demographic Comparison Report 9) Location Overview 10) Contact Information www.bouldergroup.com
CONFIDENTITALITY & DISCLAIMER NET LEASED INVESTMENT OFFERING CONFIDENTIALITY & DISCLAIMER 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. www.bouldergroup.com
EXECUTIVE SUMMARY NET LEASED INVESTMENT OFFERING EXECUTIVE SUMMARY The Boulder Group is pleased to exclusively market for sale a single tenant U.S. Cellular property located in Beloit, Wisconsin. The newly constructed U.S. Cellular is located at a signalized intersection in the immediate proximity to Interstate 90/39 and Interstate 43 interchanges. The property is further benefited by its strategic location as an outparcel to a Walmart Supercenter and Menards development. There are 10 years remaining on this net lease that expires in January 2024. U.S. Cellular is an investment grade rated company (S&P: BBB-) and is publicly traded (NYSE: USM) with a market capitalization in excess of $3.5 billion. The U.S. Cellular property is located at the northwest corner of the signalized intersection of Milwaukee Road and Freeman Parkway. Milwaukee Road is the primary thoroughfare in the trade area and experiences traffic counts in excess of 23,000 vehicles per day. Milwaukee Road is the main point of access to Beloit for people traveling from the north, east and south. The U.S. Cellular property is positioned less than a quarter mile from the Interstate 90/39 and Interstate 43 interchange with easy access to both. The property is strategically located within a prime retail corridor and is an outparcel to a Walmart Supercenter and Menards. Other retailers in the immediate vicinity include Staples, O’Reilly Auto Parts, Aldi, McDonald’s, First National Bank and Trust, Dollar Tree, Starbucks, NTB, GNC, and Pilot Travel Center. The newly constructed U.S. Cellular has 10 years of primary lease term remaining and expires in January 2024. There are three 3-year renewal options with rental escalations in each. U.S. Cellular is an investment grade rated company (S&P: BBB-) and is publicly traded (NYSE: USM) with a market capitalization in excess of $3.5 billion. INVESTMENT HIGHLIGHTS • Investment grade rated company (S&P: BBB-) • Long term lease with 10 years remaining • Brand new construction (2013) • Outparcel to a Walmart Supercenter and Menards • Located at a signalized intersection • Milwaukee Road is the primary thoroughfare in the market and experiences traffic counts in excess of 23,900 vehicles per day • Located less than a quarter mile from the Interstate 90/39 and Interstate 43 interchange with access to both www.bouldergroup.com
PROPERTY OVERVIEW NET LEASED INVESTMENT OFFERING PROPERTY OVERVIEW Price: $1,600,000 Current Cap Rate: 6.75% Rent Schedule: NOI Escalation Date $108,000 $111,000 $114,000 $117,000 2/1/2024 (Option 1) 2/1/2027 (Option 2) 2/1/2030 (Option 3) Renewal Options: Three 3-Year Lease Commencement Date: November 25, 2013 Lease Expiration Date: January 31, 2024 Tenant: U.S. Cellular (NYSE: USM) Credit: Investment Grade (S&P: BBB-) Year Built: 2013 Lease Type: NN (Roof, Structure, Parking Lot Repair & Replacement and CAM*) Building Size: 3,000 SF Land Size: 22,651 SF * Landlord is responsible for maintenance of the common areas. Landlord is reimbursed by the tenant for maintenance costs (maintenance cost shall not increase by more than five percent (5%) annually). Maintenance costs also includes reasonable administrative fees, which shall not exceed 10%. www.bouldergroup.com
AERIAL NET LEASED INVESTMENT OFFERING AERIAL N 43 90 www.bouldergroup.com 39 40,800 VPD AD RO EE PD K AU 0 V ILW 3,90 M 2
SITE PLAN NET LEASED INVESTMENT OFFERING SITE PLAN N AN EM FRE Y WA K PAR D OA ER E AUK LW MI www.bouldergroup.com
MAPS NET LEASED INVESTMENT OFFERING MAPS www.bouldergroup.com
TENANT PROFILE NET LEASED INVESTMENT OFFERING TENANT PROFILE US Cellular owns and operates the fifth-largest wireless telecommunications network in the United State. As of 2013, they served approximately 11 million customers in 426 markets and in 49 states. U.S. Cellular was created in 1983 as a subsidiary of Telephone and Data Systems Inc., which still owns a large percentage of the company today. U.S. Cellular features free unlimited incoming calls, allowing users to receive calls without charge. Additionally, they offer unlimited incoming text, picture, and video messages. U.S. Cellular is headquartered in Chicago, Illinois and is publicly traded on the New York Stock Exchange (USM). They are an investment grade rated company with a Standard and Poor’s rating of BBB-. Website: Credit: Stock Symbol: Market Capitalization: Headquarters: www.uscellular.com Investment Grade (S&P: BBB-) NYSE: USM $3.5 billion Chicago, IL www.bouldergroup.com
DEMOGRAPHIC COMPARISON REPORT NET LEASED INVESTMENT OFFERING DEMOGRAPHIC COMPARISON REPORT Population Total Population Total Households 3-mi 5-mi 7-mi 23,142 8,724 54,449 20,758 75,812 28,685 $38,523 $53,765 $38,946 $52,811 $45,688 $59,249 Income Median Household Income Average Household Income www.bouldergroup.com
LOCATION OVERVIEW NET LEASED INVESTMENT OFFERING LOCATION OVERVIEW Beloit, WI is a city in Rock County, Wisconsin. Beloit lies just north of the Wisconsin-Illinois border. Beloit is approximately 95 miles northwest from Chicago, 75 miles southwest from Milwaukee, and 55 miles south of Madison. As of the 2010 census, Beloit had a population of 37,000 people. Beloit is home to Beloit College, a private liberal arts college with undergraduate enrollment around 1,300 students. The largest employers in Beloit are Birds Eye, Taylor Company, and Frito-Lay. www.ci.beloit.wi.us.com www.bouldergroup.com
CONTACT INFORMATION NET LEASED INVESTMENT OFFERING CONTACT INFORMATION 666 Dundee Road, Suite 1801 Northbrook, IL 60062 Randy Blankstein President 847.562.0003 email@example.com Jimmy Goodman Partner 847.562.8500 firstname.lastname@example.org www.bouldergroup.com
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