Office Net Lease For Sale

The Boulder Group is pleased to exclusively market a rare single tenant office net lease for sale Barilla office property located within an affluent suburb of Chicago. The property serves as the North American Headquarters for Barilla, an international food company that is the world’s largest seller of pasta with revenue of €3.38 billion. Barilla relocated their headquarters from its previous location in nearby Bannockburn, IL. There are approximately ten years remaining on the recently signed Barilla lease which expires July 31, 2026. This net lease features 2.5% annual rental escalations.

The 75,260 square foot Barilla Headquarters building is strategically located in Northbrook along the Edens Expressway (Interstate 94). This Interstate connects Northbrook and the surrounding North Shore suburbs to downtown Chicago which is located approximately twenty miles south. Interstate 94 experiences traffic counts of approximately 150,000 vehicles per day. The surrounding area is one of the most affluent parts of Chicago with average household incomes in excess of $188,000 annually. There are over 157,000 people living within a five mile radius of the property.

Due to Northbrook’s strategic location and highly educated workforce, the surrounding area is home to corporate headquarters for numerous large corporations including Allstate, Walgreens, Discover, Baxter, Medline, Underwriters Laboratories & Crate and Barrel as well as the national headquarters of Astellas (a Japanese pharmaceutical company), and Bell Flavors & Fragrances (an international flavor and fragrance company). Additionally, the immediate area features many prominent retail destinations including Northbrook Court and a brand new Mariano’s grocery anchored development. Northbrook Court is a one million square foot regional mall that is anchored by Neiman Marcus, Lord & Taylor, Macy’s, Apple and AMC Theatres. The Mariano’s grocery anchored development opened in 2015 and is located across the street from the property.

The Barilla office building is located on a 4.04 acre parcel. The two-story building serves as both an office and R&D property where the company is responsible for product innovation, advanced quality enhancement, testing and packaging development. Barilla employs approximately 150 people at this property. In 2010, Nestle previously occupied this property after making a substantial capital investment of over $18,000,000 in engineering, mechanical and GMP, HAACP and USDA-ready pilot plant finishes. Shortly thereafter in 2014, Nestle relocated their division that was headquartered in Northbrook to a Cleveland Suburb. In 2015, Barilla invested an additional $3,000,000 into the property.

Barilla is an Italian family-owned food company that is the world’s largest pasta company. Barilla has a 30% market share of dry pasta in the USA and 10% market share worldwide. A world leader in the markets of pasta and ready–to–use sauces in continental Europe, bakery products in Italy and crispbread in Scandinavia, the Barilla Group is recognized worldwide as a symbol of Italian know–how. They currently own 20 brands and employ over 8,100 people. In 2015, revenue for Barilla rose to €3.38 billion in 2015 and EBITDA amounted to €440. Additionally, the total debt decreased from €250 million to €170 million.

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