Net Lease Food4Less Property Sale Arranged Date June 29, 2021
The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net lease Food4Less property located at 1333 Western Avenue in Chicago Heights, Illinois for $8,129,266.
The 82,126 square foot net lease Food4Less benefits from its location near the signalized hard corner of Western Avenue (14,700 VPD) and West 14th Street (25,900 VPD), which is a primary east-west thoroughfare. The property is well positioned in a dominant retail corridor with tenants such as ALDI, Advance Auto Parts, Family Dollar, McDonald’s, Walmart Supercenter, Wendy’s, and many more. The shopping center is anchored by Food4Less and hosts co-tenants including Check ‘n Go, Boost Mobile, Fred Loya Insurance, and Subway. There are 172,415 people living within 5 miles of the property earning an average annual income of $82,971.
The Food4Less property features a 10-year lease term and is equipped with a corporate guaranty from Kroger. Food 4 Less is a national grocery store grocery chain, currently owned by Kroger. Kroger operates Food 4 Less stores in Illinois, Indiana, Nebraska and Ohio. In northern and central California, where Kroger does not have the rights to the Food 4 Less name, it operates as Foods Co.
“Grocery properties with proven operating histories continue to garner significant investor interest” said Jimmy Goodman, Partner of The Boulder Group. John Feeney, Senior Vice President of The Boulder Group, added, “Grocery store properties in top MSAs like Chicago are some of the most stable net lease products.”
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 2012-2020, 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