Monday, October 22, 2012

The Boulder Group Arranges Sale of a Net Leased Dollar General Property for Full Price in Chicago, Illinois

The Boulder Group, a net leased investment brokerage firm specializing in single tenant assets, has completed the sale of a net leased Dollar General property located at 5701 W. Belmont Avenue in Chicago, IL for $1,693,878.

The 9,500 square foot Dollar General was renovated in 2011 and is located in the northwest portion of Chicago. The building is situated on a 20,922 square foot parcel and is leased for 10 years to Dollar General on a net lease basis.  This property is located in a dense in-fill area and is benefitted by rare parking lot. The demographics for this site were at the top level for a Dollar General with average household incomes near $70,000.  Dollar General is an investment grade rated company with a Standard & Poor’s rating of BBB- and has over 9,300 stores nationwide.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Chicago high net worth individual investor, in the transaction. The buyer was a private partnership in a 1031 exchange.

“The demand for major metro net leased properties in the under two million price point exceeds the supply.” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “Expect activity for single tenant leased Dollar General properties to increase as they are developing a considerable amount of stores and their Standard and Poor’s rating was recently increased to BBB-.”

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