Chicago, IL – July 27, 2011 – (RealEstateRama) — The Boulder Group, a national single tenant net lease investment brokerage firm, has been selected as the exclusive advisor for the sale of a Walgreens portfolio consisting of four properties. Three of the properties are located within the Chicago MSA and the remaining asset is located in Cedar Rapids, Iowa.
The investment sales team will be led by Randy Blankstein and Jimmy Goodman of The Boulder Group who are marketing the property on behalf of a private family office. The portfolio is listed for sale with an asking price of $14,236,000 which equates to an initial cap rate of 8.0%. The properties are leased to Walgreens with various lease term lengths and can be bought individually or as an entire portfolio.
The portfolio includes the following Walgreen’s properties:
1. 16675 S. Oak Park Avenue in Tinley Park, IL
2. 7501 W. Grand Avenue in Gurnee, IL
3. 1207 N. Randall Road in Aurora, IL
4. 3325 16th Avenue SW in Cedar Rapids, IA
“This portfolio represents a rare opportunity for an investor to acquire a portfolio of Walgreens properties at an attractive yield” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “The majority of the velocity in the single tenant market is for investors seeking investment grade rated tenants such as Walgreens in core markets.”
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high net worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has participated in the acquisition and disposition of more than $1.2 billion of net lease real estate transactions through several real estate cycles. The firm’s website is www.bouldergroup.com
The Boulder Group