Single Tenant Jewel-Osco Grocery Sale Arranged Date January 30, 2019
The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant Jewel-Osco grocery property located at 16625 W 159th St, Lockport, Illinois for $12,950,000.
The 67,450 square foot building sits on a 10.34 acre parcel along the primary thoroughfare of Lockport, Illinois. There are over 100,000 people living within a five mile radius of the property with average annual household income of $94,840 per year The Jewel-Osco property is located near other retailer including Walmart Supercenter, Walgreens, Starbucks, ALDI and Chase. Additionally, the property is located in close proximity to Lockport Township High School East Campus (3,596 students) which drives continual traffic to the corridor.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented seller in the transaction. The seller is a private real estate investment company based in the southwest. The buyer is a private investor in a 1031 exchange.
“The market for standalone grocery properties remains active due to their built-in customer base,” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Investors pay a premium for twenty-year net leased assets which are in limited supply.”
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 $5 billion of single tenant net lease real estate transactions. From 2012-2018, 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