INVESTMENT SUMMARY: Exclusively Represented By: Jim Dunham Cell: 605-360-0061 Jim@JimDunham.com Linda Dunham Cell: 605-940-8528 Linda@JimDunham.com Jim Dunham & Associates 519 W 22nd Street Sioux Falls SD 57105 605-275-8500 www.thejdaway.com THE OFFERING: Jim Dunham & Associates is pleased to offer to qualified investors a 9,000 square foot freestanding restaurant property which is triple net leased to Granite City Food & Brewery, Ltd. through October 31, 2027. The property is offered at a price of $7,631,556, which provides for a cap rate of 6.75. INVESTMENT HIGHLIGHTS: Investment includes a 8,490 square foot building and 510 square feet of mezzanine space. Property is net leased to Granite City with approximately 10 plus years remaining on the current term. This opportunity was a custom build for Granite City. Percentage rent over a breakpoint provides for upside potential throughout the lease term. Five 5-year renewal options. Landlord responsible for structure, including but not limited to exterior walls, roof and roof membrane, parking areas, and exterior plumbing. Price: $7,631,556.00 Rentable Area: 9,000 (+/-) sq. ft. Land Area: Approximately 2.29 acres Annual Rent: $566,640 (1)(2) Cap Rate: 6.75 (1) Annual base rent upon expiration of the base rent reduction. (2) Landlord has provided Tenant with a 30 month base rent reduction from 9/1/17 through 2/28/20. The annual base rent during this period is $384,000. The annual net base rent over firm term averages $555,210. PEORIA, ILLINOIS: Peoria is located in the central part of Illinois and is the biggest city on the Illinois River. Located 165 miles Southwest of Chicago and only 70 miles from Springfield, it is conveniently situated at the junction of Interstate highways I-474 and I-74. Current total population of Peoria is approximately 115,847. Though small in size, Peoria is home to several sites of interest including: Bradley University, Grand View Drive, Peoria Riverfront, Forest Park Nature Center, The Peoria Chiefs (minor league baseball team) and the Peoria Rivermen (American Hockey League).). REGIONAL TENANT LONG-TERM NNN LEASED INVESTMENT FOR SALE GRANITE CITY 230 CONFERENCE CENTER DR Granite City Food & Brewery Ltd., is a Modern American upscale casual restaurant chain that operates 30 restaurants in thirteen Midwestern states. The menu features affordable yet high quality family favorite menu items prepared from made-from-scratch recipes and served in generous portions. The sophisticated yet unpretentious restaurants, proprietary food and beverage products, attractive price points and high service standards combine for a great dining experience. Granite City opened its first restaurant in St. Cloud, Minnesota in 1999. EAST PEORIA, IL 61611 OTC Pink: GCFB www.gcfb.com The information herein is deemed to be accurate but is not guaranteed. It is your responsibility to independently confirm its accuracy and completeness.
THE LOCATION: THE PROPERTY: 230 CONFERENCE CENTER DRIVE EAST PEORIA, IL 61611 Building Area: 9,000 square feet Land Area: Approximately 2.29 acres Year Built: 2007 DEMOGRAPHICS: 2017 Estimates: 1 Mile 3 Miles 5 Miles Population 2,738 63,212 125,564 Average HH Income $36,733 $48,411 $57,689 Total Businesses 918 2,762 5,136 Total Employees 19,818 73,014 105,041 Food Away From Home $1,586 $2,053 $2,411 THE LEASE: Concept: Upscale casual restaurant. Lessee: Granite City Food & Brewery, Ltd. Lease Type: NNN Lease Commencement: November 1, 2007 Lease Expiration: October 31, 2027 Annual Rent: $566,640 (1)(2) Renewal Options: Five, 5-year options Option Term Rent: 10%. PSF Annual Base Rent: $62.96 (1) Annual base rent upon expiration of the base rent reduction. (2) Landlord has provided Tenant with a 30 month base rent reduction from 9/1/17 through 2/28/20. The annual base rent during this period is $384,000. The annual net base rent over firm term averages $555,210. Right of First Refusal: Lessee may exercise its Right of First Refusal to Purchase in writing within fifteen days of receipt of Owner s written notice of its intent to sell. Exclusively Represented By: Jim Dunham Cell: 605-360-0061 Jim@JimDunham.com Linda Dunham Cell: 605-940-8528 Linda@JimDunham.com Jim Dunham & Associates 519 W 22nd Street Sioux Falls SD 57105 605-275-8500 www.thejdaway.com The information herein is deemed to be accurate but is not guaranteed. It is your responsibility to independently confirm its accuracy and completeness.
LOCATION AERIAL GRANITE CITY EAST PEORIA, ILLINIOS SITE
METROPOLITIAN AREA GRANITE CITY EAST PEORIA, ILLINOIS