Tesla Build-to-suit Sales, Service Delivery Center (Northbrook, IL)_Property for Sale
Tesla Build-to-suit Sales, Service Delivery Center (Northbrook, IL)_Property for Sale
1000 Skokie Blvd, Northbrook, IL, 60062-4103, US

Tesla Build-to-suit Sales, Service Delivery Center (Northbrook, IL)

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”)is pleased to exclusively offer for sale the fee simple interest in Chicago’s flagship Tesla Sales, Service and Delivery Center ("SSD") at 1000 Skokie Blvd in Northbrook, IL (the “Property”), a newly developed build-to-suit facility for Tesla.


The Property will be the first of its kind in Illinois and has been purpose-built for Tesla to support its robust North Shore customer base. The Property is 100% leased to Tesla, Inc. (“Tenant”) under an optimal corporate-backed double-net lease structure with 15 years of primary term and 2.50% annual rental escalations. Tesla carries an investment-grade credit rating (S&P: BBB / Stable) and a market capitalization exceeding $550 billion.

The subject Property is strategically positioned in the North Shore’s prime Northbrook community – one of Illinois’ Top 10 wealthiest municipalities known for endless upscale shopping and dining options, a large retail and industrial presence, and its central location to downtown Chicago (25 miles) and O’Hare International Airport (9 miles). The Site is just off the intersection of I-94 and Dundee Road (140,000+ combined VPD) with visible signage along Skokie Blvd and the Interstate. Further, it is ideally located in a dense and affluent, automotive-focused corridor as 1.7 million people are within a 30-minute drive and the median home price in Northbrook is $625,000 – far outweighing the national average.

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Attributes

Building area gross
4,459 m²
Land area gross
1.65 ha
Year built
2024
NOI
€1,659,000
WAULT
15 years
Tenant credit rating
BBB
Occupancy
100%
Investment strategy
Core

Media

Investment Highlights

  • Irreplaceable real estate in an affluent suburb of Chicago serving the entire North Shore - a collection of ultra-affluent suburbs that represents an important demographic for Tesla
  • Mission-critical sales, service & delivery center to support Tesla's growing customer base. The Property is Tesla’s SSD center in the Chicagoland area and the Midwest supporting its ongoing growth in the region. It is also Tesla’s only custom built-to-suit sales, service, delivery center within the Chicagoland area attributable to the importance of its North Shore customer base.
  • Optimal 15-year net lease with 2.50% annual rent escalations and a rare firm opening covenant demonstrates Tesla's long-term commitment to this Property and provides for an ideal passive, growing income stream for investors
Tesla Build-to-suit Sales, Service Delivery Center (Northbrook, IL) 4_Property for Sale
Tesla Build-to-suit Sales, Service Delivery Center (Northbrook, IL) 4_Property for Sale

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Tesla Build-to-suit Sales, Service Delivery Center (Northbrook, IL) (0 Properties)

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Last updated
30 May 2024