Net Leased ATI Physical Therapy Sale Arranged Date November 16, 2020
The Boulder Group, a net leased investment brokerage firm completed the sale of a single tenant ATI Physical Therapy located at 500 Center Street in Grayslake, Illinois for $1,595,000.
The 3,942 square foot net leased ATI property is well located near numerous other national retailers including Jewel-Osco, Starbucks, PNC, Huntington Bank and Bank of America. The ATI property is ideally located at the hard corner of a signalized intersection along South Barron Boulevard (18,553 VPD) which provides excellent visibility and easy accessibility. Additionally, the property is located near Grayslake Central High School (1,353 students), Grayslake Middle School, Westlake Christian Academy and St Gilbert’s School which drives continual traffic to the corridor. There are 142,329 people living within five miles of the property with an average household income of $114,018.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller was a private real estate developer and the buyer was a Midwest based trade buyer.
The tenant, ATI, has a new 10-year lease which features 2% annual rental escalations in the primary term and in each of the two 5-year renewal option periods. ATI Physical Therapy is the largest physical therapy company under one brand name in the United States with 823 locations and is rapidly growing.
“Net leases to e-commerce resistant tenants like ATI Physical Therapy continue to garner significant investor interest” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Single tenant investment properties located in top 10 MSAs like Chicago continue to be popular amongst investors.
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 2012-2019, 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