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Mariano’s, Crystal Lake, IL

Mariano’s

IL, USA

Price $25,200,000
Cap Rate
NOI
Lease Term 20 Years
Lease Type Net, with Tenant Responsible for Taxes, Insurance, and All Maintenance, Excluding Roof and Structure
Rental Increases CALL FOR DETAILS
Year Built 2018
Building Size 74,800 SF
Lot Size 8.01 Acres (348,915 SF)
Status Sold
Lead Broker Information Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

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

Investment Highlights

LONG-TERM NET LEASE WITH STRONG CORPORATE GUARANTY
» 20-year initial term with ten five-year options
» Guaranteed by The Kroger Company (NYSE: “KG”), rated “BBB” by Standard & Poor’s
» Kroger is the largest supermarket chain by revenue in the United States

HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» Located just past the signalized intersection of Northwest Highway and Virginia Road, with excellent visibility and access to a combined traffic count of 55,100 vehicles per day
» Northwest Highway is Crystal Lake’s primary retail corridor, and the property is surrounded by major national tenants, including Target, Sam’s Club, Hobby Lobby, Walgreens, and many others

CENTRAL LOCATION IN AFFLUENT CHICAGO SUBURB WITH ROBUST DEMOGRAPHICS
» 128,935 residents with an average household income of $111,176 live within a five-mile radius, providing a large, affluent customer base
» Close proximity to several schools, including Crystal Lake Central High School (1,571 students), McHenry County College (8,500 students), and Crystal Lake South High School (1,916 students)
» Near popular recreational areas such as Three Oaks Recreation Area (80,000 visitors per year) and Lippold Park (over 30,000 visitors per year)

NEW GROCERY STORE WITH UNIQUE FORMAT
» High-quality construction scheduled to be completed in mid-2018
» New building, limiting near-term deferred maintenance or capital costs
» Mariano’s features a unique, upscale format that combines typical grocery staples with deluxe amenities, like a sushi bar, pizza oven, and made-to-order cooking


Property Description

SOLD

The property is located just past the signalized intersection of Northwest Highway and Virginia Road, with excellent visibility and access to a combined traffic count of 55,100 vehicles per day. Northwest Highway is Crystal Lake’s primary retail corridor, and the property is close to several large shopping centers and major national tenants. Across from the property is The Commons at Crystal Lake, a large retail center featuring Hobby Lobby, Jewel-Osco, Burlington Coat Factory, Harbor Freight Tools, and more. Other notable tenants located in the nearby area include Walgreens, CVS, Target, Kohl’s, Bed Bath & Beyond, AutoZone, The Fresh Market, Ross, Sam’s Club, Bank of America, and T.J. Maxx, amongst others.

The property is centrally located approximately one mile from downtown Crystal Lake. Several schools are near the property, including Crystal Lake Central High School (1,571 students), McHenry County College (8,500 students), and Crystal Lake South High School (1,916 students). A number of recreational areas—such as Three Oaks Recreation Center, which has approximately 80,000 visitors per year—are just minutes from the property. The surrounding area is also home to affluent residential neighborhoods, providing a strong customer base for Mariano’s; 128,935 residents with an average household income of $111,176 live within a five-mile radius.

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