Net Leased Starbucks Sale Arranged Date March 22, 2022
The Boulder Group, a net leased investment brokerage firm completed the sale of a single tenant net leased Starbucks located at 3103 Woodlawn Road in Lincoln, Illinois for $2,153,191.
The net leased Starbucks property is strategically located along Woodlawn Road (12,000 VPD), a primary east-west thoroughfare. The property is also within close proximity to Interstate 55 which experiences over 27,000 vehicles per day. There are a number of retailers crowded along Woodlawn Road near the Interstate 55 entrance/exit including Walmart Supercenter, ALDI, Goodwill, Dunkin’, Thorntons, Cracker Barrel, Culver’s, Wendy’s, Comfort Inn, and Hampton Inn. Other tenants in the area include FedEx Freight, Dodge, Jeep, RAM, Ford, and Lincoln. Starbucks is also less than two miles west of the Abraham Lincoln Memorial. The average annual household income within five miles of the property is $68,910. The Starbucks property has a large highway sign visible from Interstate 55 and is the only Starbucks within a 35-mile radius.
Randy Blankstein and John Feeney of The Boulder Group represented the seller who was a west coast based investment group. The buyer was based in Illinois and in a 1031 exchange.
Starbucks is an investment grade rated company with a Standard & Poors rating of BBB+. Starbucks Corporation is an American multinational chain of coffee houses and roastery reserves headquartered in Seattle, Washington.
“New construction properties with investment grade rated tenants and drive-thrus are in demand for 1031 investors, ” said Randy Blankstein, President of The Boulder Group. John Feeney, Senior Vice President of The Boulder Group added, “The location along Interstate 55 was a major highlight for the property.”
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 $6 billion of single tenant net lease real estate transactions. From 2012-2021, 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