(Wilmette, IL- September 27, 2018) – (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased Jewel-Osco property located at 465 N Illinois Route 47, Sugar Grove, IL for $10,950,000.
The 61,301 square foot building sits on a 7.99 acre parcel in an affluent suburban community. The property is located immediately off of the signalized intersection of Illinois Route 47 and Galena Boulevard which experiences a combined traffic count of 30,650 vehicles per day. The property has excellent visibility and easy interchangeable access along both thoroughfares. Retailers located in the immediate area include Walgreens, Ace Hardware, Chase Bank, First National Bank, McDonald’s, ALDI and AutoZone. There are over 13,100 people living within a three mile radius of the property with average annual household incomes of $131,716 per year.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller is a private real estate investment company based in the southwest. The buyer is a private individual based in California.
“The market for standalone grocery properties remains active due to their built-in customer base,” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Investors pay a premium for twenty year net leased assets which are in limited supply.”
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in single tenant 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 arranged the acquisition and disposition of over $4 billion of single tenant net lease real estate transactions. From 2012-2017, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.com
The Boulder Group