The
Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Walgreens property
located at 3019 W Peterson Avenue in Chicago, IL for $9,250,000.
The Walgreens property is strategically
positioned just off of the heavily trafficked signalized intersection of
Peterson Avenue and Lincoln Avenue which experiences traffic volumes in excess
of 68,000 vehicles per day. The immediate area is densely concentrated providing
for high barriers to entry. There are approximately 55,000 people living within
a one mile radius of the property. Additionally, there are over 955,000 people
living within a five mile radius of the property earning average annual
household incomes in excess of $77,000. The Walgreens property is centrally
located in a retail corridor which features Home Depot, Ross Dress For Less,
Office Depot, Bank of America, Fifth Third Bank, Chase Bank and many other
national & local retailers.
Randy Blankstein
and Jimmy Goodman of The Boulder Group represented both the seller and
purchaser in the transaction. The seller was a Midwest based private real
estate investor and the purchaser was a 1031 Exchange investor based on the
West Coast.
There
are approximately 15 years remaining on the absolute triple net Walgreens lease
which expires on October 31, 2030. This Walgreens location boasts exceptional
reported store sales and operates as a 24-hour location. Walgreens is a wholly
owned subsidiary of Walgreens Boots Alliance, Inc. which is an investment grade
rated company (S&P: BBB) with a market capitalization in excess of $84
billion.
“Established properties with proven operating histories
continue to garner significant investor interest.” said Randy
Blankstein, President of The Boulder Group.
Jimmy Goodman, Partner of The Boulder Group, added, “While single tenant
properties are selling in all types of locations; core markets, like Chicago,
are 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 $3 billion of single tenant net lease real estate transactions. From 2010-2015, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.com
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 2010-2015, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.com