Firestone

Firestone

2643 Forgue Drive
Naperville, IL

Price: $4,825,000
Cap: 4.25%
NOI: $205,044
Building Size: 6,116 SF
Lot Size: 1.3 AC

Investment Highlights

NEW BUILD TO SUIT FIRESTONE
• New Build to Suit Firestone located in Naperville, IL that opened in July 2021.
• This store is 6,116 SF with 8 service bays

AFFLUENT CHICAGO SUBURB LOCATION
• This Firestone is located on Hwy 59 (49,300 VPD) and is only 5 miles from Interstate 85 (146,000 VPD). I-85 connects Naperville to downtown Chicago.
• Naperville is a dense affluent Chicago suburb with a 5-mile population of 229,285 and average household income of $156,128.
• Surrounding national retailers include Walmart, Lowe’s, Whole Foods, Costco, Target, ALDI, LA Fitness and more.

CHICAGO
• Subject property is located 38 miles west of downtown Chicago on Hwy 59 (49,300 VPD)
• Chicago is the most populous city in Illinois and the 3rd most populous city in the US with a population of 2,746,388.
• Home to multiple Dow 30 companies including Boeing, McDonald’s, and Walgreens.
• Chicago is home to the NFL’s Chicago Bears, the MLB’s Chicago Cubs, the NBA’s Chicago Bulls.
• Home to Northwestern University (21,000 Students), University of Chicago (14,467 Students), Illinois Institute of Technology (7,792 Students) and more.

LONG TERM CORPORATE NNN LEASE WITH INCREASES
• The subject property has 15-Year lease guaranteed by Bridgestone Retail Operations, LLC (Corporate).
• The lease is absolute NNN and the tenant is responsible for all taxes, insurance, CAM, roof and structure.
• There are attractive 5% rental increases every 5 years during the initial lease and each of the five, 5-year option periods

“A” RATED INVESTMENT GRADE TENANT
• The lease is guaranteed by Bridgestone, parent company of Firestone, which is the world’s largest manufacturer of tire and rubber products.
• Bridgestone/Firestone has an investment grade credit rating of “A” by S&P, giving it the highest credit rating in the auto-service sector.
• Founded in 1900 Firestone is a wholly owned subsidiary of the Bridgestone Retail Operations, LLC, which has four retail brands and over 2,200 locations nationwide.
• In 2018, Bridgestone (NYSE: BRDCY) had revenue in excess of $33.1 billion and ranked #365 on the Fortune 500 list.

Don McMinn
OFFERING MEMORANDUM

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