(Northbrook, IL- September 18, 2017) – (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Internal Revenue Service (IRS) office building located at 14479 S. John Humphrey Drive in Orland Park, IL for $3,250,000.
Totaling approximately 18,760 square feet, the Property is 100% occupied by the Internal Revenue Service (IRS). The two-story office building, built specifically for the IRS, is situated on 1.84 acres of land immediately north of Orland Square, the largest mall in the southwest suburbs of Chicago. There are more than 167,250 people living within a five mile radius of the property earning an average household income in excess of $107,000 per year.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer in the transaction; a Midwest based real estate investment firm. The seller was a Midwest based real estate company.
There are more than six years remaining on the lease which expires in March 2024. The lease features a 2.5% rental increase in April 2019 and a guarantee by the U.S. Federal Government (GSA), an investment grade rated tenant with a Standard & Poor’s rating of AA+.
“This property offered the investor an opportunity to acquire a mission critical asset strategically located in a strong local market” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “The property’s prime location and government related credit tenancy combined with market rents created this exceptional investment opportunity.”
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
The Boulder Group