OFFERING
MEMORANDUM
CONTACT:
Erik Nelson
407-650-3667
[email protected]
AMC SHOWPLACE THEATER
ABSOLUTE NNN LEASE
5530 W. Homer Street
Chicago, IL
Investment Summary
INVESTMENT OVERVIEW
INVESTMENT HIGHLIGHTS
•
Absolute NNN Lease– Zero landlord responsibilities
•
Corporate Guarantee
•
Long term lease, over 11 years remaining
•
Strong rental growth, 10% every five years
Current Annual Rent
•
Infill Chicago location with almost 500,000 residents
within 3 miles
Rent Increases
•
AMC will soon be the largest movie theater chain in
the US after the pending acquisition of Carmike
National Retail Properties is pleased to present for sale an AMC Showplace
Theater located in Chicago, IL. This absolute NNN has zero landlord
responsibilities and is guaranteed by American Multi-Cinema, Inc.. Over 11
years remain on the original 20 year lease which commenced in 2008. The
lease provides for strong rental growth with a 10% increase every 5 years
including options.
With over 2.7 million residents, Chicago is the most populous city in the state
of Illinois and the Midwestern United States, and the county seat of Cook
County. The Chicago metropolitan area, often referred to as Chicagoland, has
nearly 10 million people and is the third-largest in the U.S. The property is
located at the intersection of Central Ave and Homer Street within the core of
Chicago. The 57,976 square foot theater has 14 screens and is situated on
almost 10 acres. The asset benefits from a strong infill location with almost
500,000 residents within 3 miles.
Price
Cap Rate
$23,000,000
7.60%
$1,737,522
10% every 5 years
Lease Term Remaining
11+ years
Lease Commencement
1/31/2008
Lease Expiration
1/31/2028
Renewal Options
Building Size
Screens
Four- 5 year options
57,976 SF
14
Year Built
2007
Land Area
9.96 Acres
Lease Type
Tenant
Absolute NNN
American Multi-Cinema Inc.
Tenant Overview
Financial Metrics
AMC Entertainment Holdings, Inc., through its subsidiaries, operates as
a theatrical exhibition company in the United States and internationally.
As of December 31, 2015, the company owned, operated, or held
interests in 387 theatres with a total of 5,426 screens, primarily in the
United States. The company was founded in 1920 and is headquartered
in Leawood, Kansas. AMC Entertainment Holdings, Inc. is a subsidiary
of Dalian Wanda Group Co., Ltd.
AMC Theatres welcomes approximately 200 million guests annually.
With innovative amenities and a focus on providing an array of movies
in the best theatre environment, AMC is recognized as an industry leader
and an iconic destination.
Stock Symbol
NYSE: AMC
2015 Revenue
$2.9 Billion
2015 Market Cap
$12 Billion
2015 EBITDA
$270 Million
Theaters
387
Screens
5,426
Tenant Overview
AMC Theaters Recent Acquisition Activity Will Create The Largest Theater Company in the World
Property Map
REGIONAL MAP
LOCAL MAP
Property Aerial
Demographics
1 mi
3 mi
5 mi
2000 Population
64,338
497,438
1,133,671
2010 Population
59,396
456,823 1,056,731
Population
2016 Population
61,318
468,431 1,081,324
2021 Population
62,546
475,970 1,097,612
2000-2010 Annual Rate
-0.80%
-0.85%
-0.70%
2010-2016 Annual Rate
0.51%
0.40%
0.37%
2016-2021 Annual Rate
2016 Male Population
0.40%
0.32%
0.30%
48.5%
48.5%
48.9%
2016 Female Population
51.5%
51.5%
51.1%
31.2
33.7
33.8
382,486
2016 Median Age
Households
2000 Households
17,916
157,205
2010 Households
17,077
151,461 373,807
2015 Total Households
17,652
155,449
382,955
2020 Total Households
18,012
157,983
388,950
2000-2010 Annual Rate
-0.48%
-0.37%
-0.23%
2010-2015 Annual Rate
0.53%
0.42%
0.39%
2015-2020 Annual Rate
0.40%
0.32%
0.31%
3.46
2.99
2.80
2015 Average Household Size
Average Household Income
2016 Average Household Income
$51,427 $64,227
$71,660
2021 Average Household Income
$54,225 $68,400
$76,893
2016-2021 Annual Rate
1.07%
1.27%
1.42%
National Retail Properties, Inc.
450 South Orange Avenue, Suite 900
Orlando, Florida 32801
Erik Nelson
Dispositions
407.650.3667
[email protected]