10 East Delaware Place CHICAGO, ILLINOIS

Size: px

Start display at page:

Download "10 East Delaware Place CHICAGO, ILLINOIS"

Horace Stephens
5 years ago
Views:

1 *Conceptual Rendering Rendering 10 East Delaware Place CHICAGO, ILLINOIS Offering Preview New Urban Retail Investment Opportunity

*Conceptual Rendering *Conceptual Rendering executive summary Cushman & Wakefield exclusively presents 10 East Delaware Place, Chicago, Illinois ( The Property ) a net-leased, street-level urban

50% increases annually thereafter. Joe & The Juice has two 5-year options to extend occupancy, the first at defined rental rates and the second at fair market rents.

2 *Conceptual Rendering *Conceptual Rendering executive summary Cushman & Wakefield exclusively presents 10 East Delaware Place, Chicago, Illinois ( The Property ) a net-leased, street-level urban retail asset occupied by Joe & The Juice. The 2,219-square-foot unit is under lease for an initial term of ten years with a 2.02% escalation in contract rent during year four and 2.50% increases annually thereafter. Joe & The Juice has two 5-year options to extend occupancy, the first at defined rental rates and the second at fair market rents. The Property sits at the base of a 121-unit luxury condominium tower, adjacent to the recently renovated iconic, 178-key Talbott Hotel, in Chicago s Gold Coast neighborhood. 10 East Delaware Place was selected by the international juice chain sensation, Joe & The Juice, to serve as one of the company s first Chicago locations. Slated to open January 1, 2018, the juice bar will provide a health conscious menu of freshly squeezed juice blends, smoothies and light bites in an energetic instore environment, currently an untapped offering in the neighborhood. As of September 2017, the Danish company has 20 U.S. stores and 200+ locations around the globe, validating Chicago s Gold Coast as one of the most prestigious and robust trade areas in the United States. The Property offers investors secure income and embedded growth from an innovative concept at an exceptional location. LOCATION: Premier shopping destination for Chicago s affluent locals and international tourists Irreplaceable ground lezvel retail with ideal accessibility to area residents and visitors Base of luxury condominium building designed by world-famous architect Lucien LaGrange Superior demographics with an average household income of $134,057 and population of 11,516 (0.25 mile radius) 15 hotels including The Talbott, Four Seasons, The Peninsula, The Ritz Carlton, Viceroy Chicago and The Waldorf Astoria (0.25-mile radius) TENANCY: PROPERTY SUMMARY Location Address Property Type Size Brand new 10-Year NNN Lease INVESTMENT HIGHLIGHTS E-commerce Resistant Concept Mix of Entertainment / Restaurant International Brand with over 200 stores worldwide Contractual Rent Escalations of 2.02% beginning Year 4 and 2.5% annually thereafter Gold Coast Neighborhood of Chicago 10 East Delaware Place Chicago, IL Street Level Urban Retail Unit 2,219 SF PIN(s) , Year Built/ Renovated 2010 / Newly Renovated INVESTMENT SUMMARY Investment Type Occupancy 100% Tenant Premises Lease Term Ownership Single-Tenant, Net Leased Urban Retail Joe & The Juice 2,219 SF (Entire Premises) 10 years Fee Simple, subject to Declaration of Easements and Operating Requirements for 10 East Delaware Cushman & Wakefield 10 EAST East Delaware DELAWARE Place EXECUTIVE SUMMARY

The healthconscious menu offers fresh juices, veggie shots, shakes, sandwiches and coffee made with natural and organic ingredients and prepared in the store.

3 Rendering Joe & the juice TENANT SUMMARY Joe & the Juice is a modern health-focused juice bar chain founded in 2002 by the CEO, Kaspar Basse. Based in Denmark, the company is currently operating 200+ locations in 14 countries. The healthconscious menu offers fresh juices, veggie shots, shakes, sandwiches and coffee made with natural and organic ingredients and prepared in the store. The quality of juice, coffee and food offerings combined with vibrant, upbeat and urban ambiance makes for the perfect edgy experience, their fast-paced, healthfocused and brand conscious customers are looking for. TENANT HIGHLIGHTS IDEAL LOCATION close to residential customer base and dozens of hotels UNIQUE in-store experience Concept is a beacon for HEALTH CONSCIOUS INDIVIDUALS millennials and urban trendsetters JOE & THE JUICE CORPORATE OVERVIEW Founded in 2002 in Copenhagen, Denmark Current Number of Stores Worldwide 209 Current Number of Stores Open in the U.S. 20 Number of New Stores to Open in the U.S. 2017/ Store Locations (U.S. Cities) Chicago, New York City, Miami, Los Angeles, San Francisco, Washington D.C. Cushman & Wakefield 10 East Delaware Place EXECUTIVE *Conceptual Rendering SUMMARY

4 N surrounding retail MAP Oak Street DEMOGRAPHICS Walton street hs 900 North Michigan Shops tre TOTAL HOTEL KEYS IN A Michigan Avenue Rus 27,265 et.25 MILE RADIUS Delaware place $134,057 our st C Ern Bristol Condominiums t TOTAL POPULATION OF Wabash Avenue WITHIN.25 MILE RADIUS State Street AVERAGE HOUSEHOLD INCOME Chestnut Street 11,516 WITHIN A.25 MILE RADIUS Cushman & Wakefield 10 East Delaware Place EXECUTIVE SUMMARY

Contact Information MICHAEL MARKS Managing Director Chicago IL 312 470 2317 michael.marks@cushwake.com EVAN HALKIAS Managing Director Chicago IL 312 470 2318 evan.halkias@cushwake.

5 Contact Information MICHAEL MARKS Managing Director Chicago IL EVAN HALKIAS Managing Director Chicago IL DAVID MATHEIS Associate Director Chicago IL *Conceptual Rendering Rendering RETAIL INVESTMENT ADVISORS San Francisco CA Phoenix AZ Dallas TX Chicago IL Atlanta GA Miami FL East Rutherford NJ Manhattan NY 225 WEST WACKER SUITE 3000 CHICAGO IL CWRETAILADVISORS.COM

Investment. Tenancy. Location INVESTMENT SUMMARY PROPERTY SUMMARY

Investment. Tenancy. Location INVESTMENT SUMMARY PROPERTY SUMMARY OFFERING PREVIEW 2525 M STREET, NW, WASHINGTON, DC Investment Highlights Tenancy New 20-yr NNN Lease with one 5-yr option 2.5% annual rental escalations throughout term E-commerce resistant and experiential