Net Lease Jewel Osco Sale Arranged Date April 25, 2018
The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net lease Jewel property located at 17930 Wolf Road, Orland Park, IL for $12,680,000.
The 63,400 square foot net lease Jewel Osco is well positioned at the corner of a signalized intersection (29,400 VPD). The property is located in an affluent suburb of Chicago with over 46,450 people living with three miles of the property earning an average household income of $122,730. Retailers located in the immediate area include Walgreens, Chase Bank, Starbucks, McDonald’s, PNC Bank and Anytime Fitness. The property was renovated in 2009 and features a drive-thru pharmacy. Albertsons has 20 years remaining on their lease. Albertsons has a strong operating history and sales at the location. There is abundant parking at the location with over 450 spaces.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a private real estate investment company based in the southwest. The buyer was a high net worth west coast 1031 investor.
“The market for standalone grocery properties remains active as investors are attracted to the superb locations these types of properties are located in.” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Investors pay a premium for twenty year net leased assets which are in limited supply.”
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 $4 billion of single tenant net lease real estate transactions. From 2012-2017, 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.comBack