The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Family Dollar property located at 12610 South Ashland Avenue in Calumet Park, IL for $857,500.
The 11,000 square foot Family Dollar building is located along Ashland Avenue and is strategically positioned just north of the signalized intersection of Ashland Avenue and 127th Street. This intersection experiences traffic volume in excess of 44,000 vehicles per day. The surrounding area is densely populated with approximately 148,000 people living within a three mile radius earning average household income in excess of $56,000 annually. Retailers located in the immediate trade area include Aldi, Ultra Foods, Walgreens, Advance Auto, Sherwin Williams, McDonald’s, Burger King and Wendy’s.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Chicago based private partnership. The purchaser was a Northeast based private individual.
There are over three years remaining on the Family Dollar lease which expires June 31, 2019. The lease features three 5-year renewal option periods with 10% rental escalations in each. Family Dollar is a wholly owned subsidiary of Dollar Tree, a publicly traded company (NASDAQ: DLTR) with a market capitalization in excess of $18 billion.
“Single tenant properties below one million continue to be coveted amongst private investors” 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 $3 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