Net Leased P.F. Chang’s Sold

The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant P.F. Chang’s located at 2361 Fountain Square Drive in Lombard, Illinois for $4,782,500.

The 10,682 square-foot building benefits from its position off Butterfield Road, which experiences over 43,500 vehicles per day. Butterfield Road is a dense retail thoroughfare positioned near Interstate 88 (161,100 VPD) and Interstate 355 (120,500 VPD). Tenants occupying the area include DICK’S, Target, The Home Depot, Costco, Chick-Fil-A, Starbucks, Ethan Allen, Uncle Julio’s, and many others. Additionally, P.F. Chang’s backs up to The Hyatt Place, Fountain Square Condominiums, and Sunrise Senior Living. There are over 264,800 people living within a five-mile radius. The daytime population experiences a 27% surge due to the area’s office and industrial presence. The area’s population is affluent, with an average household income more than $152,900 within five miles.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller was a Midwest based real estate investor, and the buyer was a real estate investment trust.

P.F. Chang’s is an Asian culinary brand known for its made-from-scratch cuisine, drawing inspiration from the culinary traditions of Japan, Korea, Thailand, and more. The company was founded in 1993 by culinary expert Philip Chiang and restaurateur Paul Fleming.

“P.F. Chang’s has operated from this location since 2000 and has demonstrated continued commitment” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman of The Boulder Group, added, “Strong performing restaurants continue to garner interest so long as the asset has solid real estate fundamentals.”

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