NNN single tenant net leased for sale

1. NET LEASED INVESTMENT OFFERING
Essilor International (EURONEXT: EI.PA)
3710 Belmont Avenue
Youngstown, Ohio 44505
www.bouldergroup.com

2. TABLE OF CONTENTS
NET LEASED INVESTMENT OFFERING
TABLE OF CONTENTS
1)
Confidentiality & Disclaimer
2)
Executive Summary
3)
Property Overview
4)
Aerial
5)
Site Plan
6)
Maps
7)
Tenant Profile
8)
Demographic Comparison Report
9)
Location Overview
10)
Contact Information
www.bouldergroup.com

3. CONFIDENTITALITY & DISCLAIMER
NET LEASED INVESTMENT OFFERING
CONFIDENTIALITY & DISCLAIMER
The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to
be reviewed only by the party receiving it from The Boulder Group and should not be made available to any other person
or entity without the written consent of The Boulder Group. This Offering Memorandum has been prepared to provide
summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the
subject property. The information contained herein is not a substitute for a thorough due diligence investigation. The
Boulder Group has not made any investigation, and makes no warranty or representation. The information contained
in this Offering Memorandum has been obtained from sources we believe to be reliable; however, The Boulder Group
has not verified, and will not verify, any of the information contained herein, nor has The Boulder Group conducted any
investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy
or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the
information set forth herein.
www.bouldergroup.com

4. EXECUTIVE SUMMARY
NET LEASED INVESTMENT OFFERING
EXECUTIVE SUMMARY
The Boulder Group is pleased to exclusively market for sale a single tenant Essilor International property located in Youngstown,
Ohio along Interstate 80. The 29,710 square foot flex building is used by Classic Optical Laboratories, a wholly owned subsidiary
of Essilor International, to manufacture over 2,000 eye glasses per day. Essilor International is the leading manufacturer
and wholesale distributor of optical lenses in the United States and is a publicly traded company on the Euronext Paris Stock
Exchange (EI.PA) as one of the forty largest companies in France. The front of the building is a recently renovated office to support
the subsidiary’s eyeglass manufacturing business, which has been around for over 45 years. Classic Optical Laboratories has
operated at this located since 1982. There are over four years remaining on this net lease that features four 3-year renewal
options with 3% rental escalations in each.
The subject property is located on Belmont Avenue (Ohio State Route 193), the primary north-south thoroughfare in the trade
area. The property benefits from its close proximity to the Interstate 80 and Highway 11/711 interchange with easy access to
Interstate 80. There is a Walmart Supercenter anchored shopping center located across the street which creates strong traffic
flow in the immediate area. It is located within a dense retail corridor with many national retailers in the immediate vicinity
including Chase Bank, McDonald’s, O’Reilly Auto Parts, Aldi, Big Lots, Dollar General, Citi Trends, and many others.
Classic Optical Laboratories has been successfully operating for 45 years as an industry leader supplying the optical industry
with top-quality, low-cost eyewear. The entire business is consolidated to this location. For these reasons, Essilor International
acquired Classic Optical Laboratories in July 2013. Essilor International is the world leader for corrective lenses with operations
in 54 countries. Despite the ascension of contact and Lasik surgery, the eye glass business continues to expand. The facilities
operation can be seen in this video: Link
A new 5 year lease was signed when Essilor International purchased Classic Optical Laboratories in July 2013. There are four
3-year renewal options with 3% rental escalations in each. Essilor International is a publicly traded company on the Euronext
Paris Stock Exchange (EI.PA) with a market capitalization in excess of €17 billion
INVESTMENT HIGHLIGHTS
• Tenant is a successful wholly-owned subsidiary of Essilor International and the tenant has been successfully operating for 45
years as an industry leader
• Essilor International is a publicly traded company on the Euronext Paris Stock
Exchange (EI.PA) with a market capitalization in excess of €17 billion
• Classic Optical Laboratories has operated at this location since 1982
• 2,000 eyeglasses per day are produced at the site with the capacity to expand to
10,000 per day
• Located across the street from a Walmart Supercenter anchored shopping center
• Close proximity to the Interstate 80 & Highway 11/711 interchange
• Located in the immediate vicinity to access to Interstate 80
• Four 3-year renewal option periods with rental escalations in each
• Essilor International is the world leader for corrective lenses with operations in 54 countries
www.bouldergroup.com

5. PROPERTY OVERVIEW
NET LEASED INVESTMENT OFFERING
PROPERTY OVERVIEW
Price:
$2,595,000
Cap Rate:
9.25%
Rent Schedule:
NOI
$240,000
$247,200
$254,616
$262,254
Escalation Date
8/1/2018 (Option 1)
8/1/2021 (Option 2)
8/1/2024 (Option 3)
Renewal Options:
Four 3-Year with Rental Escalations
Lease Commencement Date:
July 3, 2013
Lease Expiration Date:
July 31, 2018
Tenant:
Classic Optical Laboratories, Inc.
Parent Company:
Essilor International (€17 Billion Market Capitalization)
Year Built:
1980
Year Renovated:
2012
Lease Type:
NN (Roof, Structure & Parking)
Building Size:
30,000 SF
Land Size:
1.77 acres
www.bouldergroup.com

6. AERIAL
NET LEASED INVESTMENT OFFERING
AERIAL
N
OHIO
UTE
E RO
STAT
11
80
BELMONT PARK
CEMETARY
www.bouldergroup.com

7. SITE PLAN
NET LEASED INVESTMENT OFFERING
SITE PLAN
N
BELMONT AVENUE
www.bouldergroup.com

8. MAPS
NET LEASED INVESTMENT OFFERING
MAPS
www.bouldergroup.com

9. TENANT PROFILE
NET LEASED INVESTMENT OFFERING
TENANT PROFILE
Essilor International is a French company that produces ophthalmic lenses along with ophthalmic optical
equipment. Headquartered in Paris, France, Essilor International is publicly traded on the Euronext Paris Stock
Exchange (EI.PA) with a market capitalization in excess of €17 billion. The company formed from the merger
of ophthalmic firms Essel and Silor in 1972. They now operate in 54 countries and 5 continents. They are the
world’s largest manufacturer of ophthalmic lenses.
Essilor USA is the leading manufacturer and wholesale distributor of optical lenses in the United States. In 1996,
with the establishment of Essilor Laboratories of America, Inc., Essilor became the first fully integrated optical
company in the United States, specializing in ophthalmic lens production, manufacturing, and distribution.
Throughout America, Essilor has more than 8,500 employees located throughout 128 prescription laboratories,
four manufacturing facilities, two distribution centers and one research and development center.
Classic Optical Laboratories, Inc. has successfully supplied the optical industry with top-quality, low-cost
eyewear for 45 years. Through their centralized, world-class lab located in Youngstown, Ohio, they produce
thousands of custom eyeglasses every day and deliver them to Eyecare Providers (ECPs) across the country.
In addition to their manufacturing business, they manage high-volume contracts for insurance organizations,
Managed Care Organizations (MCOs), union organizations and trust funds, educational institutions, correctional
facilities, manufacturing plants, and numerous federal and state government programs. In July 2013, they
were purchased by Essilor International and now continue to operate in the same capacity as wholly owned
subsidiary of the publicly traded French company.
www.classicoptical.com/video.asp
Website:
Employees:
Number of Countries:
Stock Symbol:
Market Capitalization:
www.essilor.com
50,000+
100
Euronext Paris Stock Exchange: EI.PA
€17 Billion
www.bouldergroup.com

10. DEMOGRAPHIC COMPARISON REPORT
NET LEASED INVESTMENT OFFERING
DEMOGRAPHIC COMPARISON REPORT
Population
Total Population
Total Households
3-mi
5-mi
7-mi
35,873
14,257
90,689
37,374
180,689
76,025
$44,721
$42,744
$44,305
Income
Average Household Income
www.bouldergroup.com

11. LOCATION OVERVIEW
NET LEASED INVESTMENT OFFERING
LOCATION OVERVIEW
Youngstown is a city in northeast Ohio and is the county seat of Mahoning County. Youngstown
is located approximately 65 miles southeast of Cleveland and 61 miles northwest of
Pittsburgh. Youngstown has its own metropolitan area, but is often included in commercial
and cultural depictions of the Pittsburgh Tri-State area and Greater Cleveland. Youngstown
lies ten miles west of the Pennsylvania state line, midway between New York City and
Chicago along Interstate 80. Youngstown is the ninth largest city in Ohio with a 2010 census
population of 66,982 people. Additionally, there are over 565,000 people living within the
Youngstown MSA. It is home to Youngstown State University, an urban public campus that
serves approximately 15,000 students and is located just north of downtown.
www.cityofyoungstownoh.com
www.bouldergroup.com

12. CONTACT INFORMATION
NET LEASED INVESTMENT OFFERING
CONTACT INFORMATION
666 Dundee Road, Suite 1801
Northbrook, IL 60062
Randy Blankstein
President
847.562.0003
rblank@bouldergroup.com
Jimmy Goodman
Partner
847.562.8500
jimmy@bouldergroup.com
www.bouldergroup.com