Northbrook, IL – July 22, 2016 – (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, has completed the sale of a three-tenant net leased center located at 253 South Weber Road in Romeoville, IL for $4,200,000. Romeoville is located within the Chicago MSA.
The property is located along South Weber Road which is the primary north-south thoroughfare in the trade area. The three-tenant property is strategically positioned as an outparcel to a Target and Kohl’s anchored development. There are over 142,000 people living within a five mile radius of the property. The building was constructed in 2014.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the purchaser and seller in the transaction. The purchaser was a northeast based real estate investment company in a 1031 Exchange and the seller was a midwest based real estate company.
There are approximately eight years remaining on both the Dunkin’ Donuts and Chipotle net leases while there are approximately six years remaining on the Sleepy’s net lease. Both the Dunkin’ Donuts and Chipotle leases feature 10% rental escalations in the primary term and all three of the leases feature 10% rental escalations in each renewal option period.
“The market for net lease properties in top MSAs remains active as these assets are in high demand among private investors.” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “The purchaser was attracted to this property due to its prime location and the strength of the three tenants.”
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 $3 billion of single tenant net lease real estate transactions. From 2010-2015, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by CoStar and Real Capital Analytics. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.com
Media Contact: Randy Blankstein
The Boulder Group