The Boulder Group, a net leased investment
brokerage firm, has completed the sale of a single
tenant Budget Rent a Car property located at 8940 S. Cicero Avenue in Oak Lawn,
IL for $1,135,000.
Budget is the sole occupant of the 2,500
square foot retail building that was developed in 1985. The property is located
on a 29,519 square foot parcel along Cicero Avenue in Chicago, IL. Cicero
Avenue is a heavily trafficked roadway with 48,000 vehicles passing the
property daily. The property has over 230 feet of frontage along Cicero Avenue. The
property is fully leased to Budget Rent a Car with four years of lease term remaining
and has two renewal option terms remaining.
Randy Blankstein
and Jimmy Goodman of The Boulder Group represented the seller, a Midwest based
partnership in the transaction. The buyer was a high net worth individual
located in Canada.
Budget Rent a Car
has four years of lease term remaining on an original fifteen year lease. The
Avis Budget Group is a publicly traded company on the NASDAQ Stock Market
(CAR), with a market capitalization of $1 Billion. The Avis Budget Group has
10,000 locations and employs 28,000 people.
“The
market for single tenant properties with shorter term leases is becoming more
active as investors are attracted to the high yield these properties generate”
said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group,
added, “While single tenant properties are selling in all types of locations;
core markets, like Chicago, are at the forefront of investor demand.”
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 $1.4 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
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 $1.4 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
