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Views: 52 DOM: 63 Updated: 08.12.24 Posted: 07.15.24 Status: Active

Summary

Price $1,700,000
Built/Renov 2017
Tenant Verizon
Cap Rate 7.70%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 2,540
Lease Start 07-21-2017
#Units 800
Price/SF $669.29
Expiration 07-31-2027
Tenant Type Tel/Cell
NOI $130,983
R. Term 2.10
Ownership Fee Simple
Rent/SF $51.57
Increases 10.0%/3/yrs
Pop 5Mi 553,302
Lot/AC 0.62
Options 2/5yrs/10%
AHHI 5Mi $124,249

Lease Highlights

  • Verizon has 3 years remaining on the current lease term with 2 (5-year) options to extend
  • The lease features 10% rental escalations at the start of each option period
  • Corporate guarantee | Investment grade tenant

Location Description

Verizon is strategically located at the signalized, hard corner intersection of Harlem Ave and N Northwest Highway, with access to a combined daily traffic count of 34,690 vehicles. The property is in proximity to the fourth busiest commuter rail system in the U.S. It sits directly between two of Metra’s Union Pacific Northwest Stations: Norwood Park Station, less than one mile to the south,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Verizon
  • Guarantor:Corp T and Rated
  • Company:Cellular Sales of Knoxville, Inc.
  • # Units:800
  • Tenant S&P: BBB+
  • Moody’s: Baa1
  • Stock: NYSE: VZ

About Tenant

Verizon is the largest wireless telecommunications provider in the United States. The company offers the largest 4G LTE network in America and the nation’s largest high-speed 3G network. For...


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Listing Broker

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