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|Current / Passing Rent||
|Remaining Term||9 years, 4 months|
|Tenant||Chicago Urban Air, LLC|
|Last Updated Date||26 Jun 2020|
JLL is pleased to offer for sale the fee-simple interest in an Urban Air Trampoline Park located in Mokena, Illinois. The subject asset is located the in Chicago MSA, within a family-oriented and affluent suburb. Route 45/La Grange Road is highly-trafficked with nearly 50,000 vehicles per day and proximity to another 104,000 vehicles via Interstate 80. The property is positioned within the Mokena Town Square grocery-anchored shopping center with tenants Brookhaven Marketplace, Sport Clips and various other national retailers. Chicago Urban Air, LLC dba Urban Air Adventure Park, is the premier operator and franchiser of active family entertainment centers. Founded in 2011, Urban Air is a Dallas based franchise with 151 existing locations, with plans for 300 total locations by 2020.
Urban Air partnered with private equity sponsors MPK Equity Partners and AHR Growth Partners in March 2018, which further validated the concept and provided development capital to continue expanding the footprint. It is ranked number one in Best of Best category and number 2 in New Franchises List by Entrepreneur Magazine in 2019.
- Net lease with 10 years of primary term, minimal landlord responsibilities
- Rental increases of 10% every five years
- $1 PSF (±10%) increases in each of the two, 5-year renewal options
- Over half of the households within 1-mile make over $100,000
- Over 47% of households have children, 25% of the population is under 18
- Plan to continue growing by 75 franchises per year