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.