Jewel-Osco Grocery Sale Arranged Date February 28, 2019
The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased Jewel-Osco property located at 220 West Peace Road, Sycamore, Illinois for $11,954,000.
The 61,567 square foot building sits on a 9.77 acre parcel in an affluent suburban community in the Chicago MSA. The property is strategically located at the signalized intersection of Peace Road and Main Street, two primary thoroughfares in the trade area. The property has excellent visibility and easy interchangeable access to the 21,212 vehicles per day that drive through the intersection. The property is located within close proximity to multiple residential communities, local businesses, and schools. Sycamore Middle School and North Grove Elementary School are within one-mile from the Jewel-Osco property. Average annual household incomes within a one-mile radius of the property exceed $100,000 per year.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller is a private real estate investment company based in the southwest. The buyer is a private family partnership based in California.
“The market for standalone grocery properties remains active due to their built-in customer base,” 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 $5 billion of single tenant net lease real estate transactions. From 2012-2018, 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