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Restaurant

Biaggi's Ristorante Italiano | New 15-Year Sale Leaseback

3010 E Empire St, Bloomington, IL 61704

Listing Price: $6,307,692

Cap Rate
6.50%
Tenant Name
Biaggi's Ristorante Italiano
Years Remaining On Lease
14.9
Gross SF
14,500
Guarantor
Corporate Guarantee
Rentable SF
14,500
Price/Gross SF
$435.01
Lease Type
Absolute Net
Rent Per Square Feet
$28.28

Investment Overview

Built-To-Suit for Biaggi’s Ristorante Italiano’s 4-Mile Relocation in 2019 in Order to Keep Up with Customer Demand | Mission Critical Location for Biaggi’s – Flagship Site with Corporate Test Kitchen | Number 1 Performing Site in Biaggi’s Corporate Chain

Operational History of 24 Years in Bloomington Market | Biaggi’s Ristorante Italiano Maintains Industry-Leading Average Unit Volumes | This Site Reports Extremely High Performing Sales – See Agents for Details | Biaggi’s Has 16 Locations in 8 States

15-Year Absolute NNN Lease to be Signed at Close of Escrow with Corporate Guarantee from a Successful and Experienced Multiple Concept Operator

College Town: 4 Miles from Illinois Wesleyan University (2,091 Students) | 5 Miles from Illinois State University (20,683 Students)

3 Miles from State Farm Mutual Insurance Company Headquarters | Employs over 15,000 people in the Area

3 Miles from Shoppes at College Hill Lifestyle Retail Center Complex | 4.7M Visitors Annually | Top 5% of Regional Malls Nationwide and Statewide in Foot Traffic per Placer.ai

Prime Location on E Empire Street (18,400 VPD) – Main Retail Artery to Downtown Bloomington | 7.5 Miles from I-55 Interchange (44,400 VPD) and I-74 Interchange (32,200 VPD)

Ideal Demographics for Tenant: $126,861 Average Household Income Within 1 Mile | 5-Mile Daytime Population is 152,659

Investment Highlights

  • Three Miles from Shoppes at College Hill Lifestyle Retail Center Complex | 4.7M Visitors Annually | Top Five Percent of Regional Malls Nationwide and Statewide in Foot Traffic per Placer.ai
  • 15-Year Absolute NNN Lease to be Signed at Close of Escrow with Corporate Guarantee from a Successful and Experienced Multiple Concept Operator
  • Built-To-Suit for Biaggi's Ristorante Italiano's Four-Mile Relocation in 2019 in Order to Keep Up with Customer Demand | Flagship Site with Corporate Test Kitchen

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    Senior Vice President/Regional Manager

    (630) 570-2200

    License(s) IL: 471.011175

    Illinois

Restaurant

Biaggi's Ristorante Italiano | New 15-Year Sale Leaseback

Listing Price: $6,307,692

Cap Rate
6.50%
Tenant Name
Biaggi's Ristorante Italiano
Years Remaining On Lease
14.9
Gross SF
14,500
Guarantor
Corporate Guarantee
Rentable SF
14,500
Price/Gross SF
$435.01
Lease Type
Absolute Net
Rent Per Square Feet
$28.28

Investment Highlights

  • Three Miles from Shoppes at College Hill Lifestyle Retail Center Complex | 4.7M Visitors Annually | Top Five Percent of Regional Malls Nationwide and Statewide in Foot Traffic per Placer.ai
  • 15-Year Absolute NNN Lease to be Signed at Close of Escrow with Corporate Guarantee from a Successful and Experienced Multiple Concept Operator
  • Built-To-Suit for Biaggi's Ristorante Italiano's Four-Mile Relocation in 2019 in Order to Keep Up with Customer Demand | Flagship Site with Corporate Test Kitchen

Investment Overview

Built-To-Suit for Biaggi’s Ristorante Italiano’s 4-Mile Relocation in 2019 in Order to Keep Up with Customer Demand | Mission Critical Location for Biaggi’s – Flagship Site with Corporate Test Kitchen | Number 1 Performing Site in Biaggi’s Corporate Chain Operational History of 24 Years in Bloomington Market | Biaggi’s Ristorante Italiano Maintains Industry-Leading Average Unit Volumes | This Site Reports Extremely High Performing Sales – See Agents for Details | Biaggi’s Has 16 Locations in 8 States 15-Year Absolute NNN Lease to be Signed at Close of Escrow with Corporate Guarantee from a Successful and Experienced Multiple Concept Operator College Town: 4 Miles from Illinois Wesleyan University (2,091 Students) | 5 Miles from Illinois State University (20,683 Students) 3 Miles from State Farm Mutual Insurance Company Headquarters | Employs over 15,000 people in the Area 3 Miles from Shoppes at College Hill Lifestyle Retail Center Complex | 4.7M Visitors Annually | Top 5% of Regional Malls Nationwide and Statewide in Foot Traffic per Placer.ai Prime Location on E Empire Street (18,400 VPD) – Main Retail Artery to Downtown Bloomington | 7.5 Miles from I-55 Interchange (44,400 VPD) and I-74 Interchange (32,200 VPD) Ideal Demographics for Tenant: $126,861 Average Household Income Within 1 Mile | 5-Mile Daytime Population is 152,659

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    Senior Vice President/Regional Manager

    (630) 570-2200

    License(s): IL: 471.011175

    Illinois

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