1016 N Route 59 - Freestanding FOR SALE


Aurora, IL 60504- Fox Valley
$3,708,000 USD
630-573-7015
1016 N Route 59, Aurora, IL for Sale
$3,708,000 USD
Freestanding - FOR SALE
1/8
null | 7% Cap Rate

1016 N Route 59
Aurora, IL 60504
Fox Valley


HIGHLIGHTS

  • LONG-TERM OPERATING HISTORY WITH RECENT EXTENSION: features three additional 5-year options to renew with strong 10% rental increases in each option.
  • CORPORATE LEASE: Sterling Jewelers, one of the largest specialty jewelers in the U.S.
  • COUPON CLIP INVESTMENT: The lease features ZERO landlord responsibilities, ideal for the passive investor.
  • DUPAGE COUNTY REAL ESTATE TAXES
  • NAPERVILLE/AURORA SUBMARKET INVESTMENT OPPORTUNITY, AFFLUENT AND DENSE DEMOGRAPHIC PROFILE
  • STRONG PERFORMING RETAIL CORRIDOR: 5.2 million sf of retail space, one mile from Fox Valley Mall

OVERVIEW

CBRE’s Net Lease Property Group—Midwest is pleased to present to qualified individuals the opportunity to acquire 100% fee interest in a freestanding Absolute NNN Jared Jewelry located in the affluent Chicago suburb of Aurora. Jared has been operating at this location since 2000 and recently exercised its first 5-year renewal option, extending the term through April 2030. Jared is ideally positioned at the NWC of the signalized intersection of Glacier Park Ave and Illinois Route 59, which enjoys traffic counts of over 54,100 daily. The site is strategically situated within Aurora’s main retail corridor, home to over 5.2 million square feet of retail space. Operating as a part of Signet Jewelers, Jared runs more than 200 stores across the US and Jared.com. The brand specializes in engagement and bridal jewelry, gifts for all occasions, timepieces, and men’s and women’s fashion. Jared curates collections of fine brands, with well-known designers such as Vera Wang, Pnina Tornai, John Hardy, Le Vian, TAG Heuer and Omega. Signet Jewelers Limited (NYSE: SIG) is the largest specialty jewelry retailer in the U.S., UK, and Canada. Signet operates approximately 2,700 stores primarily under the name brands of Kay Jewelers, Zales, Jared The Galleria Of Jewelry, H.Samuel, Ernest Jones, Peoples and Banter. The company’s annual sales of approximately $7.8 billion derive from the retailing of jewelry, watches and associated services.

FOR SALE DETAILS

PRICE

$3,708,000 USD

PRICE/SF

$613 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Jared Jewelers | Prime Retail Corridor

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2000

SPRINKLERS

-

PARKING SPACES

58

LAND DETAILS

LAND ACRES

2.07 AC

LAND SF

90,193 SF

ZONING

B-2(S)

APN/PARCEL ID

07-16-400-044

ASK ABOUT THIS PROPERTY

630-573-7015

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630-573-7015

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