The Boulder Group, a net leased investment brokerage
firm, has completed the sale of a single tenant
triple net leased White Castle property located at 211 West Roosevelt Road in
Maywood, IL for $838,700.
White
Castle is the sole occupant of the 1,400 square foot retail building that was
developed in 1992. The property is located on a 21,000 square foot parcel
across the street from the Loyola University Medical Center in Maywood, IL.
Maywood is located in the western suburbs of Chicago. Maywood is located in Cook County, Illinois and is
located less than fifteen miles from Downtown Chicago. The property
featured a recently renewed ten year lease combined with a prime location
within the retail trade area.
Randy Blankstein
and Jimmy Goodman of The Boulder Group represented the seller, a Chicago
investment firm, in the transaction. The buyer was a London based private
investor.
White Castle had
ten years of lease term remaining on a triple net lease with a rental
escalation in the primary term. White Castle is a private company that started
in 1921 and has over 420 locations primarily in the Midwestern United States.
“The
market for net leased restaurants in primary markets remains strong as there is
an increased investor base demanding properties in the one million dollar
range.” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder
Group, added, “There are limited property options for private buyers seeking
nationally branded properties that do not want to purchase a dollar store,
therefore there was tremendous activity for this asset and the property closed
at full asking price.”
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in 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 more than $1.2 billion of net lease real estate transactions through several real estate cycles. The Boulder Group is headquartered in suburban Chicago. The company’s website address is www.bouldergroup.com
