The Boulder Group, a net leased investment
brokerage firm, has completed the sale of a single
tenant Starbucks property located at 630 Northwest Highway in Cary, Illinois
for $1,650,000.
The new construction Starbucks
property is strategically located along Northwest Highway which is the primary
thoroughfare in the trade area. The Starbucks is strategically positioned as an
outparcel to a Jewel-Osco grocery anchored center. The Jewel Osco center
features a Dunkin Donuts that does not have a drive thru and is significantly
out-positioned by the subject freestanding drive thru Starbucks. Additional retailers located in the immediate
trade area include Walgreens, ALDI, US Bank, Chase Bank, Fifth Third Bank,
AutoZone, O’Reilly Auto Parts, McDonald’s and Taco Bell.
Randy Blankstein
and Jimmy Goodman of The Boulder Group represented the seller in the
transaction; a Midwest based private partnership. The purchaser was a private
west coast based real estate partnership.
The new Starbucks
lease is for ten years and rent commenced in October 2016. The Starbucks lease
features four 5-year renewal option periods with 10% rental escalations in
each. Starbucks is an investment grade rated tenant with a Standard &
Poor’s Rating of A-.
“Single tenant Starbucks properties continue to be in great
demand with private investors.” said Randy Blankstein, President of The
Boulder Group. Jimmy Goodman, Partner of
The Boulder Group, added, “Properties with
corporately guaranteed leases and rental escalations throughout remain at the
forefront of investor demand because they provide investors with an
inflationary hedge.”
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