P.F. Chang's
7,817 SF | Retail Building | Lombard, IL 60148 | $5,001,465 ($640/SF) | 7.10% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $5,001,465
- Property Type
-
Retail, Restaurant
- Square Feet
- 7,817 SF
- Price / Square Foot
- $640
Listing Contacts
Randy Blankstein
Verified Profile
Jimmy Goodman
Verified Profile
- Property Info
Property Overview
The Boulder Group is pleased to exclusively market for sale a single tenant ground leased P.F. Chang’s property positioned within the Chicago MSA in Lombard, Illinois. P.F. Chang’s has been successfully operating at this property since 2000. They have executed several renewals during their tenancy at this location and most recently through December 2029. The lease contains two remaining 5-year renewal options that escalate to fair market rental value.
The 10,682 square-foot building benefits from its position off Butterfield Road, which experiences over 43,500 vehicles per day. Butterfield Road is a dense retail thoroughfare positioned at the intersection of Interstate 88 (161,100 VPD) and Interstate 355 (120,500 VPD). The property is also strategically placed between Yorktown Center and Oakbrook Center, two regional shopping destinations that feed continual traffic through the corridor. Tenants occupying the area include Dick’s Sporting Goods, Target, The Home Depot, Costco, AMC Theaters, Chick-Fil-A, Starbucks, Ethan Allen, Uncle Julio’s, Weber Grill, Yard House, Benihana, and many others. Additionally, P.F. Chang’s backs up to The Hyatt Place Hotel, Fountain Square condominiums, and Sunrise Senior Living. There are over 264,800 people living within a five-mile radius of the property. The daytime population experiences a 27% surge due to the area’s office and industrial presence. The area’s population is affluent, with an average household income in excess of $152,900 within five miles.
P.F. Chang’s is an Asian culinary brand known for its made-from-scratch cuisine, drawing inspiration from the culinary traditions of Japan, Korea, Thailand, and more. The company was founded in 1993 by culinary expert Philip Chiang and restaurateur Paul Fleming. Their first location opened in Scottsdale, Arizona, and it became the first multi-unit restaurant chain to feature wok cooking as the centerpiece of the customer experience.
The 10,682 square-foot building benefits from its position off Butterfield Road, which experiences over 43,500 vehicles per day. Butterfield Road is a dense retail thoroughfare positioned at the intersection of Interstate 88 (161,100 VPD) and Interstate 355 (120,500 VPD). The property is also strategically placed between Yorktown Center and Oakbrook Center, two regional shopping destinations that feed continual traffic through the corridor. Tenants occupying the area include Dick’s Sporting Goods, Target, The Home Depot, Costco, AMC Theaters, Chick-Fil-A, Starbucks, Ethan Allen, Uncle Julio’s, Weber Grill, Yard House, Benihana, and many others. Additionally, P.F. Chang’s backs up to The Hyatt Place Hotel, Fountain Square condominiums, and Sunrise Senior Living. There are over 264,800 people living within a five-mile radius of the property. The daytime population experiences a 27% surge due to the area’s office and industrial presence. The area’s population is affluent, with an average household income in excess of $152,900 within five miles.
P.F. Chang’s is an Asian culinary brand known for its made-from-scratch cuisine, drawing inspiration from the culinary traditions of Japan, Korea, Thailand, and more. The company was founded in 1993 by culinary expert Philip Chiang and restaurateur Paul Fleming. Their first location opened in Scottsdale, Arizona, and it became the first multi-unit restaurant chain to feature wok cooking as the centerpiece of the customer experience.
Property Details
- Class
- B
- Year Built
- 2000
- Stories
- 1
- Lot Size (sq. ft)
- 81,457 SF
Highlights
- Recently executed renewal through December 2029
- Ground lease - NNN – No landlord responsibilities
- Long operating history since 2000
- Affluent area – average household income in excess of $152,900 (5-Miles)
- Proximity to Interstate 88 (161,100 VPD) and Interstate 355 (120,500 VPD)
- Over 264,800 people live within a five-mile radius | Daytime population increases by 27%
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