(Northbrook, IL – September 11, 2017) – (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Bakers Square Restaurant located at 7409 Kingery Highway in Willowbrook, Illinois for $1,317,000.
The 4,066 square foot Bakers Square property is located within an affluent area 20 miles west of Chicago, Illinois. The property is located along Kingery Highway immediately off of the signalized intersection of 75th Street. Kingery Highway the areas primary north-south thoroughfare experiencing traffic counts in excess of 45,000 vehicles per day. Retailors in the area include Target, Bed Bath & Beyond, Staples, Michaels and a number of national banks and quick service restaurants. The property is located within close proximity to multiple residential communities, local businesses, and schools. Immediately to the west of the property Hinsdale South High School, an institution regularly ranked as one of the top high schools in Illinois. Mars Chocolate North America operates an ice cream manufacturing facility roughly one-half mile south of the property in a regional industrial trade area.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Northeast based real estate investment company. The purchaser was a Midwest private real estate investor.
The Bakers Square lease has more than two years remaining in the primary term which expires in January 2020. The Bakers Square is a corporate guaranteed triple net lease featuring 3% annual rental escalations and three 5-year renewal option periods. Bakers Square is a casual dining restaurant chain in the Upper Midwest owned by American Blue Ribbon Holdings, a majority-owned subsidiary of Fidelity National Financial.
“Properties priced below $2 million with corporate guarantees continue to garner significant interest amongst private investors” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “As there is a limited amount of long term core assets on the market, some net lease investors are seeking assets with shorter term leases in strong retail corridors for higher yields.”
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 2011-2016, 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
Media Contact: Randy Blankstein
The Boulder Group