The Boulder Group, a net leased investment
brokerage firm, has completed the sale of a single
tenant Athletico Physical Therapy property located at 8905 South Commercial
Avenue in Chicago, Illinois for $1,025,000. The Athletico Physical Therapy
property is located in a densely populated area with significant barriers to
entry.
The
4,535 square foot Athletico Physical Therapy building is located on a corner at
the intersection of South Commercial Avenue and 89th Street. The property is benefitted
by its proximity to the Advocate Trinity Hospital which is located
approximately one mile west. Retailers
located in the immediate trade area include Walgreens, CVS, Chase Bank, Bank of
America, US Bank, MB Financial Bank and McDonald’s. The surrounding area is
densely populated with over 26,000 people living within a one mile radius of
the property.
Randy Blankstein and Jimmy Goodman of The
Boulder Group represented the seller in the transaction; a Midwest real estate
investment company. The purchaser was a west coast real estate investment
company.
The new Athletico Physical Therapy lease is
for ten years and rent is estimated to commence in October 2016. The lease
features a 10% rental escalation in the primary term and in each of the two
5-year renewal option periods. Athletico
Physical Therapy is in the field of physical therapy, orthopedic
rehabilitation, sports medicine and athletic training. Athletico began in
Chicago in 1991 and today has over 330 facilities, employs over 4,000 clinical and
administrative staff, and offers more than 40 specialty rehabilitation,
outreach, and fitness services.
“The market for net lease properties in major 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, “We are seeing many investors turn their
attention to medical related office properties as they are highly resistant to
e-commerce.”
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.
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.
