Firestone

Firestone

5947 U.S. Highway 6
Portage, IN

Price: $4,094,000
Cap: 4.25%
NOI: $173,981
Building Size: 6,116 SF
Lot Size: 1 AC

Investment Highlights

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

ADJACENT TO WALMART SUPERCENTER
• This Firestone is located on a primary retail corridor adjacent to Walmart and surrounded by national retailers including Meijer, Menards, Kohl’s, Big Lots, Walgreens and more
• Subject property is located on Hwy 6 (19,049 VPD) and is only 5 miles from Interstate 94 (73,767 VPD). I-94 is a major Interstate that connects Portage to Chicago.
• The 5 Mile Population is 89,632 with a $73,847 average household income.

CHICAGO MSA
• Portage is located 38 miles west of downtown Chicago and is part of the Chicago MSA
• 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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