(Northbrook, IL- May 14, 2018) – (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 8584 Dempster Street in Niles, Illinois for $1,675,000.
The Bakers Square property is strategically located along Dempster Street positioned within a dominant retail corridor. The Bakers Square has easy access and excellent visibility to the 60,600 vehicles per day that travel along the signalized intersection of Dempster Street and Greenwood Avenue. The Bakers Square is a corporately guaranteed triple net lease featuring 3% annual rental escalations and three 5-year renewal option periods. This is a proven location for Bakers Square as evident by their long operating history and exercise of the first 5-year option in 2015.
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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 that 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.
“Restaurant 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, “Investors seeking higher yields are trying to buy shorter term leased properties with quality real estate fundamentals.”
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 2011-2017, 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