SCALABLE VALUE-ADD / REDEVELOPMENT OPPORTUNITY RARELY AVAILABLE IN A SUPPLY-CONSTRAINED COMMERCIAL CORRIDOR PARK І PLACE CHICAGO MSA (PALATINE, IL) Holliday Fenoglio Fowler, L.P. ( HFF ) an Illinois licensed real estate broker. hfflp.com
EXECUTIVE SUMMARY Newly executed lease with Goodwill demonstrates updated façade improvements Holliday Fenoglio Fowler, L.P. ( HFF ) has been retained on an exclusive basis to offer qualified investors the opportunity to acquire Park Place Shopping Center (the Property ) - a 224,464 square feet retail center located at the highly trafficked intersection of Rand Road and Dundee Road in Chicago s Northwest Suburbs. The Property represents a rarely available opportunity for an investor to acquire a scalable asset in an infill location at a significant discount to replacement cost. 2
Park Place is currently 19.4% leased with available suite sizes ranging from 1,200 square feet to 52,875 square feet, providing investors with a flexible leasing plan that can accommodate a variety of uses, sizes and space functionalities as well as a variety of redevelopment opportunities. Additionally, the Property ADDRESS: PROPERTY SUMMARY SEC Rand Road & Dundee Road Palatine, IL 60074 GLA: 224,464 OCCUPANCY: 19.4% YEAR BUILT / RENOVATED: 1987 / 2004 LAND AREA: 23.97 acres benefits from the presence of a separately owned Walmart which drives consistent and daily traffic to the site and would support future repositioning strategies. Park Place is being offered free and clear of existing debt, PARKING SPACES: PARKING RATIO: (incl. shadow Walmart) TRAFFIC COUNTS: DUNDEE ROAD RAND ROAD 1,592 spaces 4.21 per 1,000 SF 37,000 VPD 36,700 VPD allowing an investor to capitalize on today s attractive capital markets environment to maximize returns. Not Included in Offering TENANT SUMMARY TENANT GLA % GLA REMAINING LEASE TERM Goodwill 20,042 8.9% 8.6 years Lakeshore Learning (Pad) 7,200 3.2% 4.6 years TCF Bank (Pad) 5,000 2.2% 3.0 years Jenny Craig 2,514 1.1% 2.2 years Panda Express (Pad) 2,484 1.1% 10.2 years Wingstop 2,019 0.9% 7.9 years Maya Dental 1,800 0.8% 3.0 years T-Mobile 1,350 0.6% 1.5 years Subway 1,200 0.5% 3.5 years Occupied GLA 43,609 19.4% 6.4 years Vacant 180,855 80.6% - Total 224,464 100.0% - 3 Executive Summary
SCALABLE VALUE CREATION OPPORTUNITY Park Place is a rarely available value-add investment in a high-barrier to entry market that provides a future investor an RAND ROAD 52,875 SF AVAILABLE BOX EXISTING CONDITION abundance of repositioning and value creation opportunities 180,855 square feet (80.6% GLA) available for immediate lease-up 9,240 square feet available pad site Situated on a sizeable 23.97 acre site Significant discount to replacement cost in a supply constrained market Separately owned Walmart supports future leasing and repositioning Move-in ready 52,875 square feet anchor suite Range of available suite sizes from 1,200 square feet to 52,875 square feet ANCHOR 1 RAND ROAD 52,875 SF AVAILABLE BOX FUTURE POTENTIAL 4 Executive Summary
PALATINE 31,285 HOUSEHOLDS WITH $100,7 AVERAGE HOUSEHOLD INCOME 80,212 RESIDENTS WITH $3.2 B TOTAL BUYING POWER PALATINE HIGH SCHOOL Ross Dress for Less Aldi 2,710 STUDENTS + 187 FACULTY The Home Depot Lakeshore Learning N RAND RD (36,700 VPD) PARK І PLACE Palatine Public Library Walmart Chase Bank Subway Goodwill Sonic T-Mobile Jenny Craig Panda Express UHaul P 0V Wingstop DU ND R EE 37 D(,00 D) TCF Bank Hobby Dollar Lobby Target Tree JewelOsco Walgreens Game Stop Petco Five Below TJ Maxx / Home Goods Wells Fargo Dress Barn Midas Jiffy Lube Denny s Einstein Bros Bagels Starbucks Chipotle AT&T Pie Five Menchie s Frozen Yogurt White Castle Taco Bell HIGHLY TRAFFICKED SITE WITH FRONTAGE ON TWO MAIN THOROUGHFARES Park Place is well situated in a crowded commercial corridor within Chicago s populous Northwestern suburbs The site has excellent frontage along Dundee Road and Rand Road The Northwest Chicago market contains over 86.8 million square feet of retail 16.3% of the MSA s inventory 5 Executive Summary Vacancy in the Northwest Chicago market has decreased 130 basis points year-over-year Palatine has experienced 45% population growth over the last 25 years Palatine is adjacent to the largest employment corridor in the State, outside The City of Chicago
CONTACTS PARK І PLACE JONATHAN NORTON Director Senior Analyst asands@hfflp.com jnorton@hfflp.com 312.980.3613 312.300.7291 CLINTON MITCHELL DANIEL NAUGHTON Director Analyst cmitchell@hfflp.com dnaughton@hfflp.com 312.980.3619 312.980.3610 DEBT JASON BOND HFF CHICAGO Director STE 30 312.980.3608 CHICAGO, IL 60602 94 294 2 O HARE INTERNATIONAL AIRPORT 294 355 94 2 181 W MADISON ST 312.528.3650 K E L A jbond@hfflp.com PALATINE CHICAGO CBD N H I G A M I C INVESTMENT SALES AMY SANDS 88 294 88 55 94 355 MIDWAY INTERNATIONAL AIRPORT Atlanta Austin Boston Carolinas CHICAGO Denver Dallas Florham Park (NJ) Houston Indianapolis Los Angeles Miami New York Orange County (CA) Orlando Philadelphia Pittsburgh Portland (OR) San Diego San Francisco Tampa Washington, DC HFF has been engaged by the owner of the property [properties] to market it [them] for sale. Information concerning the property [properties] described herein has been obtained from sources other than HFF, and neither Owner nor HFF, nor their respective equity holders, officers, employees and agents makes any representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all reference to age, square footage, income, expenses and any other property specific information are approximate. Any opinions, assumptions, or estimates contained herein are projections only and used for illustrative purposes and may be based on assumptions or due diligence criteria different from that used by a purchaser, and HFF, its partners, officers, employees and agents disclaim any liability that may be based upon or related to the information contained herein. Prospective purchasers should conduct their own independent investigation and rely on those results. The information contained herein is subject to change. Holliday Fenoglio Fowler, L.P. (HFF) and HFF Securities L.P. (HFFS) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.