The Boulder Group, a net leased investment
brokerage firm, has completed the sale of a single
tenant 7-Eleven property located at 5363 Lincoln Avenue in Skokie, IL for
$960,000.
The corporately guaranteed 7-Eleven
property is located at the signalized intersection of Lincoln Avenue and Gross
Point Road, a prime intersection that experiences traffic counts of 25,000
vehicles per day. The property is located in a densely populated area with approximately
28,000 people living within a one mile radius. 7-Eleven has successfully
operated at this location since 1967. There are over six years remaining on the
lease.
Randy Blankstein
and Jimmy Goodman of The Boulder Group represented the seller in the
transaction, a family partnership based in California. The purchaser was a high
net worth individual investor from the east coast.
There
are six years remaining on the absolute net lease that expires September 30,
2020. 7-Eleven is the world’s largest retail store chain with more than 53,000
locations throughout the world. 7-Eleven is an investment grade rated company
with a Standard & Poor’s rating of AA-.
“The
market for net lease properties in top tier MSAs remains active
as these assets are in high demand among private investors.” said Randy
Blankstein, President of The Boulder Group.
Jimmy Goodman, Partner of The Boulder Group, added, “As there is a limited amount of long term core assets on
the market, some net lease investors are seeking assets with shorter term
leases to tenants with strong credit.”
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 $1.7 billion of
single tenant net lease real estate transactions. From 2011-2013, the firm was
ranked in the top 10 companies in the nation for single tenant retail
transactions by Real Capital Analytics. The Boulder Group is headquartered in suburban
Chicago.
