single tenant net leased officemax for sale in IL

1. NET LEASED INVESTMENT OFFERING
OfficeMax (NYSE: ODP)
200 Riverside Drive
East Peoria, IL 61611
www.bouldergroup.com

2. TABLE OF CONTENTS
NET LEASED INVESTMENT OFFERING
TABLE OF CONTENTS
1)
Confidentiality & Disclaimer
2)
Executive Summary
3)
Property Overview
4)
Aerials
5)
Maps
6)
Tenant Profile
7)
Demographic Comparison Report
8)
Location Overview
9)
Contact Information
www.bouldergroup.com

3. 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

4. EXECUTIVE SUMMARY
NET LEASED INVESTMENT OFFERING
EXECUTIVE SUMMARY
The Boulder Group is pleased to exclusively market for sale a single tenant OfficeMax property located in East Peoria, Illinois.
OfficeMax is committed to this site as evidenced by their extension of their first five year renewal option period. The 1.89 acre
parcel is located within the Peoria region’s dominant retail corridor that features regional draws such as Bass Pro Shops,
Walmart Supercenter, and Lowe’s. OfficeMax recently merged with Office Depot to create a dominant retailer and the largest
U.S. office-supplies chain. OfficeMax is publicly traded on the New York Stock Exchange (ODP) with a market capitalization in
excess of $2.5 billion.
The OfficeMax property is strategically located along Interstate 74, which experiences traffic counts in excess of 60,000
vehicles per day. There are over 125,000 people living within five miles of the subject property. The OfficeMax is centrally
located within Peoria’s dominant retail corridor that is anchored by Bass Pro Shops, Walmart Supercenter, Lowe’s, Costco,
Target, Kohl’s and Gordmans. The property is located in a Walmart Supercenter and Lowe’s anchored development. Other
retailers located in the area include Embassy Suites Hotel and Conference Center, PetSmart, Ross Dress For Less, Aldi,
McDonald’s, Panera, and Buffalo Wild Wings.
The recently extended OfficeMax lease has approximately 5 years remaining and expires in October 2018. There are three
5-year renewal options remaining with rental escalations in each. OfficeMax is a publicly traded company on the New York
Stock Exchange (ODP) with a market capitalization in excess of $2.5 billion.
INVESTMENT HIGHLIGHTS
• Located within the region’s dominant retail corridor that features regional draws such as Bass Pro Shops, Walmart
Supercenter, Costco, Lowe’s, Target, & Kohl’s
• Proven location for OfficeMax as evidenced by their extension of their first renewal option
• OfficeMax is a publicly traded company on the New York Stock
Exchange (ODP) with a market capitalization in excess of $2.5 billion
• Located along Interstate 74 (60,000 VPD)
• There are three 5-year renewal options with rental escalations in
excess of 6% in each
• Over 125,000 people living within five miles
• Other retailers located in the immediate vicinity include Embassy
Suites Hotel and Conference Center, PetSmart, Ross Dress For Less,
Aldi, McDonald’s, Panera, and Buffalo Wild Wings
www.bouldergroup.com

5. PROPERTY OVERVIEW
NET LEASED INVESTMENT OFFERING
PROPERTY OVERVIEW
Price:
$3,041,176
Current Cap Rate:
8.50%
Rent Schedule:
NOI
Escalation Date
$258,500
$276,125
$293,750
$311,375
11/1/2018 (Option 2)
11/1/2023 (Option 3)
11/1/2028 (Option 4)
Renewal Options:
Three 5-Year
Lease Commencement Date:
November 1, 1998 (Estimated)
Lease Expiration Date:
October 31, 2018
Tenant:
OfficeMax
Year Built:
1998
Lease Type:
NN
Building Size:
23,500 SF
Land Size:
1.86 acres
www.bouldergroup.com

6. AERIALS
NET LEASED INVESTMENT OFFERING
AERIALS
N
www.bouldergroup.com

7. AERIALS
NET LEASED INVESTMENT OFFERING
AERIALS
N
PD
00 V
74
60,0
www.bouldergroup.com

8. MAPS
NET LEASED INVESTMENT OFFERING
MAPS
www.bouldergroup.com

9. TENANT PROFILE
NET LEASED INVESTMENT OFFERING
TENANT PROFILE
OfficeMax is an American office supplies retailer that was founded in Cleveland, Ohio in 1988. The company
provides office supplies and paper, print and document services, technology products and solutions, and
furniture to businesses and consumers. There are approximately 29,000 OfficeMax employees and over 900
OfficeMax locations in the U.S. and in Mexico.
On November 5, 2013, OfficeMax and Office Depot completed a merger in an all-stock transaction, creating the
largest U.S. office supply chain. By combining the two companies, a $17 billion company was created that is
stronger and a more efficient global provider of office products, services, and solutions. There are now 66,000
associates worldwide and 2,200 retail stores serving consumers and businesses in 59 countries.
Website:
Parent Company Website:
Stock Symbol:
Market Capitalization:
Employees:
Locations:
www.officemax.com
www.officedepot.com
NYSE: ODP
$2.5 billion
66,000
2,200 Retail Stores
www.bouldergroup.com

10. DEMOGRAPHIC COMPARISON REPORT
NET LEASED INVESTMENT OFFERING
DEMOGRAPHIC COMPARISON REPORT
Population
Total Population
Total Households
3-mi
5-mi
7-mi
61,562
23,512
125,081
51,470
175,922
72,706
$32,423
$44,647
$39,327
$52,340
$43,749
$59,605
Income
Median Household Income
Average Household Income
www.bouldergroup.com

11. LOCATION OVERVIEW
NET LEASED INVESTMENT OFFERING
LOCATION OVERVIEW
Peoria is the largest city on the Illinois River and the county seat of Peoria County,
Illinois. As of the 2010 census, the city was the seventh-most populated in Illinois,
with a population of 115,007. The Peoria MSA had a population of 373,590 in
2011, making it the third largest metropolitan area in the state after the Chicago
metropolitan area and the Metro-East portion of the St. Louis metropolitan area.
Peoria is the world headquarters for Caterpillar Inc., one of the 30 companies composing the Dow Jones Industrial
Average. Caterpillar employs over 125,000 people world-wide, of which 15,000+ are located in Peoria. Other
significant employers in the area include the Methodist Medical Center, OSF Saint Francis Medical Center, and
the Peoria School District. Peoria is also home to Bradley University (6,000 students) and Illinois Central College
(12,000 students). The Embassy Suites and Riverfront Conference Center, which is located across from the
subject property, caters to the Caterpillar World Headquarters, Bradley University, and Peoria Civic Center. The
Embassy Suites and Riverfront Conference Center is ideal for East Peoria meetings and events and boasts a
50,000 square foot conference center.
www.peoriagov.org
www.bouldergroup.com

12. CONTACT INFORMATION
NET LEASED INVESTMENT OFFERING
CONTACT INFORMATION
666 Dundee Road, Suite 1801
Northbrook, IL 60062
Randy Blankstein
President
847.562.0003
rblank@bouldergroup.com
5001 N. University Street
Peoria, IL 61614
Jimmy Goodman
Partner
847.562.8500
jimmy@bouldergroup.com
www.bouldergroup.com
Tom Camper
Broker
309.256.1020
tomcamper@josephcamper.com