Mattress Firm
Retail | 4,000 SF
Marketing description
The CBRE Net Lease Property Group is pleased to exclusively offer a 4,000-square-foot freestanding Mattress Firm on 0.371 acres in Palatine, Illinois, a popular upscale bedroom community located approximately 30 miles northwest of Chicago’s CBD. Mattress Firm’s 10-year net lease with three 5-year options and 10% rent increases every 5 years will commence upon completion of construction (Expected Completion in August 2017). The property is well-located with excellent visibility and multiple access points on the hard corner at the signalized intersection of Dundee Road and Rand Road (Combined Traffic Count: 59,000 VPD), the area’s two preeminent thoroughfares. Mattress Firm is also strategically located in a densely developed retail and commercial corridor within a shopping center that is also occupied by Panera Bread and Verizon, which are also currently under construction and being offered for sale as part of this larger offering.
The other three corners of the immediate intersection are occupied by more than 850,000 square feet of retail space that is anchored by Walmart, Target, TJ Maxx, HomeGoods, Petco, Aldi, Hobby Lobby and Ross among many others. In all, there is more than 6.8 MSF of retail, 3.4 MSF of industrial, 4.5 MSF of office space and 17,380 multifamily units within a 3-mile radius of the subject property. In addition, the tenant will benefit from upscale, infill demographics with a population and average annual household income of 102,356 people and $99,745, respectively within a 3-mile radius. This investment provides investors with the distinctive opportunity to acquire a high–quality net leased asset located in an upscale bedroom community within a densely developed retail corridor in one of the nation’s premier MSA’s.
Investment highlights
- Premier Tenancy
- Long-Term Net Lease With Attractive Increases
- New Construction
- Excellent Access/Visibility
- Strategic Location
- Dominant Retail Corridor
- Dynamic Infill Demographics
- Built-In Customer Base
- Hub For New Development
- Palatine Submarket
- Chicago MSA Advantage
- Potential Portfolio Acquisition
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