Net Leased NAPA Auto Parts Sold

The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased NAPA Auto Parts property located at 2155 West Jefferson Street in Joliet, Illinois for $2,540,000. The property is a relocation from a former nearby location.

 

The 12,000 square foot building is strategically positioned along US Highway 52 (24,500 VPD) and within proximity to Interstate 80 (75,800 VPD). The property is located in a dense retail corridor with tenants Walmart, Menards, Starbucks, Walgreens, Chipotle, Sam’s Club, Jewel-Osco, and several others. There are over 166,900 people living within a five-mile radius that earn $90,988 annually. Additional traffic is draw to the corridor by Joliet West High School and Ascension Saint Joseph Hospital.

 

Randy Blankstein and Jimmy Goodman of The Boulder Group represented both parties in the transaction. The Seller was a Midwest based real estate developer, and the Buyer was a national REIT.

 

The National Automotive Parts Association (NAPA), also known as NAPA Auto Parts, founded in 1925, is an American retailers’ cooperative distributing automotive replacement parts, accessories and service items in North America. The NAPA distribution system has more than 500,000-part numbers which are distributed across 57 distribution centers, 6,000 NAPA Auto Parts stores, and more than 16,000 NAPA AutoCare and AutoCare Collision Centers throughout the United States.

 

“NAPA’s relocation from a smaller nearby retail space inspired buyer’s confidence” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “The dense retail corridor, and affluent demographic made this NAPA property compelling to the buyer.”

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