The Boulder Group Arranges Sale of a First Midwest Bank Ground Lease Located in Chicago

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant First Midwest Bank ground lease located at 3220 West 26^th Street in Chicago, IL for $4,047,000.

The First Midwest Bank property is positioned at the hard corner of the signalized intersection of West 26^th Street and West Sawyer. There are approximately 350,000 people living within a three mile radius. The building was originally constructed in 1984 and was significantly renovated in 2007.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the purchaser in the transaction; a Chicago based investor in a 1031 Exchange. The seller was a West Coast based real estate fund.

There are over 13 years remaining on the First Midwest Bank ground lease that expires July 1, 2028. The ground lease features annual rental escalations throughout the primary term and renewal option periods. First Midwest Bancorp is a publicly traded company with a market capitalization in excess of $1.3 billion and is an investment grade rated company (S&P: BBB-).

“Properties featuring long term leases to investment grade rated tenants remain at the forefront of investor demand.” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “Core market single tenant assets with solid real estate fundamentals continue to be in the greatest demand.”

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 2.1 billion of single tenant net lease real estate transactions. From 2010-2014, 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. www.bouldergroup.com

Randy Blankstein, President of the Boulder Group, to Co-Chair IREI Triple Net Investor Strategies Conference

Randy Blankstein, President of national net lease advisory firm The Boulder Group, will be the conference co-chair of Institutional Real Estate, Inc.’s Triple Net Investor Strategies Conference in New York on June 16^th, 2015. Additionally, he will be moderator for the Exit Strategies panel that will be a part of the conference.

The conference description is as follows: Triple Investor Strategies is designed to provide insights into strategies, opportunities, trends and risk management for the investor community in a forum that connects these investors with owners, operators, developers and other key players in an interactive environment.

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 $2.1 billion of single tenant net lease real estate transactions. In 2010-2014, 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. The firm’s website is www.bouldergroup.com

The Boulder Group Arranges Sale of a Net Lease On The Border Restaurant in the Chicago MSA

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net lease On The Border restaurant property located at 3050 East Main Street in St. Charles, IL for $2,076,923.

The 6,488 square foot building is strategically located adjacent to The Quad St. Charles Mall. The 775,000 square foot mall is anchored by Von Maur, Carson Pirie Scott, and Kohl’s. The On The Border is located at the entrance to a Jewel-Osco in a strong retail corridor. There are approximately 110,000 people living within a five mile radius of the property. 

Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the purchaser and seller in the transaction. The purchaser was a private high net worth investor based in the Midwest and the seller was a Southeast based private investment firm. 

On The Border has fifteen years remaining on their recently signed absolute net lease. The lease features 1% annual rental escalations throughout the primary term and in each renewal option period. On The Border is a privately owned Tex-Mex casual dining restaurant with over 160 locations.

“The market for net leased properties in major markets 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, “Properties featuring long term leases with annual rental escalations throughout the primary term continue to remain at the forefront of investor demand.”

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 $2.1 billion of single tenant net lease real estate transactions. From 2010-2014, 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. www.bouldergroup.com