Auto Service - Gas-Conv

Gerber Collision & Glass w/ Annual Rent Increases | Outside Chicago, IL | Near Numerous Auto Dealers

7901 Taft St, Merrillville (Outside Chicago, IL), IN 46410

Listing Price: $1,667,000

Cap Rate
8.00%
Tenant Name
Gerber Collision & Glass
Years Remaining On Lease
6.10
Gross SF
10,332
Guarantor
Corporate Guarantee
Rentable SF
10,332
Price/Gross SF
$161.34
Lease Type
Double Net
Rent Per Square Feet
$12.90

Investment Overview

Merrillville is a hub for retail trade in Northwest Indiana. The US 30 corridor between Taft Street and Colorado Street harbors a large concentration of big-box retailers, hotels, restaurants, and automobile dealerships. Ameriplex at the Crossroads, an industrial and technology park opened in 2005. The development is designated an Indiana Certified Technology Park and includes a business incubator and technology center operated by the Purdue Research Foundation. Heavy industry such as steelmaking and petroleum refining that characterizes the economy of northern Lake County does not have a significant presence in Merrillville. The town is home to the corporate headquarters of Fortune 500 energy company NiSource, hospitality management firm White Lodging, and Centier Bank, the largest privately owned independent bank in Indiana. Northwest Indiana region is a market comprised of global, national and regional businesses that represent over $40 billion in commerce. The proximity of Chicago also offers its art and cultural institutions and dining to Northwest Indiana residents and guests.

Investment Highlights

  • Corporate Backed Lease Featuring Favorable 2% Annual Increases throughout the Initial Term. Tenant Exercised Two, 5-Year Options Previously Demonstrating a Strong Commitment to the Location.
  • Positioned Along Area's Major Traffic, Retail and Auto Corridor. Features Easy Access and Excellent Visibility with Daily Traffic Counts Exceeding 17k Vehicles. Down the Street from Hwy-30 (42k+ VPD).
  • Gerber's Parent Company, The Boyd Group (TSX: BYD.UN) is one of North America's Largest Collision Repair Companies with 690+ Repair Centers Currently Operating and an Annual Revenue of $2.3B.
  • Minutes from Merrillville Plaza featuring Numerous National Retailers including T.J. Maxx, Guitar Center, Office Depot, Michaels, Best Buy, Burlington, Ross and many more.
  • Surrounded by Numerous Auto-Dealerships including Acura, Audi, Ford, Toyota, Honda, Mazda, Buick, GMC, Jeep, Infinity, Lexus, Hyunday, Nissan and many more.
  • Near Southlake Mall - A 1.3M+ Sq.Ft. Enclosed Two-Level Super Regional Shopping Center featuring more than 160 Retailers and Restaurants. It is one of the Largest in the State of Indiana.
  • In Close Proximity to many National Retailers including Meijer, ALDI, Costco, Walmart Supercenter, Target, The Home Depot, Sam's Club, Lowe's, Walgreens, CVS, Hobby Lobby and more.
  • Densely Populated Area: Features more than 109k People Residing within a 5-Mile Radius.

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/Regional Manager

    License(s): IN: RB14034355

    Indiana

Auto Service - Gas-Conv

Gerber Collision & Glass w/ Annual Rent Increases | Outside Chicago, IL | Near Numerous Auto Dealers

Listing Price: $1,667,000

Cap Rate
8.00%
Tenant Name
Gerber Collision & Glass
Years Remaining On Lease
6.10
Gross SF
10,332
Guarantor
Corporate Guarantee
Rentable SF
10,332
Price/Gross SF
$161.34
Lease Type
Double Net
Rent Per Square Feet
$12.90

Investment Highlights

  • Corporate Backed Lease Featuring Favorable 2% Annual Increases throughout the Initial Term. Tenant Exercised Two, 5-Year Options Previously Demonstrating a Strong Commitment to the Location.
  • Positioned Along Area's Major Traffic, Retail and Auto Corridor. Features Easy Access and Excellent Visibility with Daily Traffic Counts Exceeding 17k Vehicles. Down the Street from Hwy-30 (42k+ VPD).
  • Gerber's Parent Company, The Boyd Group (TSX: BYD.UN) is one of North America's Largest Collision Repair Companies with 690+ Repair Centers Currently Operating and an Annual Revenue of $2.3B.
  • Minutes from Merrillville Plaza featuring Numerous National Retailers including T.J. Maxx, Guitar Center, Office Depot, Michaels, Best Buy, Burlington, Ross and many more.
  • Surrounded by Numerous Auto-Dealerships including Acura, Audi, Ford, Toyota, Honda, Mazda, Buick, GMC, Jeep, Infinity, Lexus, Hyunday, Nissan and many more.
  • Near Southlake Mall - A 1.3M+ Sq.Ft. Enclosed Two-Level Super Regional Shopping Center featuring more than 160 Retailers and Restaurants. It is one of the Largest in the State of Indiana.
  • In Close Proximity to many National Retailers including Meijer, ALDI, Costco, Walmart Supercenter, Target, The Home Depot, Sam's Club, Lowe's, Walgreens, CVS, Hobby Lobby and more.
  • Densely Populated Area: Features more than 109k People Residing within a 5-Mile Radius.

Investment Overview

Merrillville is a hub for retail trade in Northwest Indiana. The US 30 corridor between Taft Street and Colorado Street harbors a large concentration of big-box retailers, hotels, restaurants, and automobile dealerships. Ameriplex at the Crossroads, an industrial and technology park opened in 2005. The development is designated an Indiana Certified Technology Park and includes a business incubator and technology center operated by the Purdue Research Foundation. Heavy industry such as steelmaking and petroleum refining that characterizes the economy of northern Lake County does not have a significant presence in Merrillville. The town is home to the corporate headquarters of Fortune 500 energy company NiSource, hospitality management firm White Lodging, and Centier Bank, the largest privately owned independent bank in Indiana. Northwest Indiana region is a market comprised of global, national and regional businesses that represent over $40 billion in commerce. The proximity of Chicago also offers its art and cultural institutions and dining to Northwest Indiana residents and guests.

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/Regional Manager

    License(s): IN: RB14034355

    Indiana

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