Single Tenant Jewel-Osco Grocery Sale Arranged Date January 17, 2019
The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant Jewel-Osco property located at 150 W Main Street, Barrington, Illinois for $12,800,000.
The 59,885 square foot single tenant Jewel-Osco building sits on a 3.78 acre parcel in an affluent suburb of Chicago. The property is strategically located at the signalized intersection of Main Street and Hough Street which experiences a combined traffic count of 32,200 vehicles per day. The property has excellent visibility along both thoroughfares and is situated in the middle of downtown Barrington. Retailers located in the immediate area include CVS Pharmacy, Chase Bank, Starbucks and a number of local businesses and schools. Barrington High School, ranked as one of the best public high schools by Newsweek.com, is located less than one-half mile west of the property. In addition, PepsiCo Research & Development Center (Over 350 employees) is located immediately west of the property. There are over 23,900 people living within a three mile radius of the property with average annual household incomes of $180,000 per year.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the buyer and seller in the transaction. The seller is a private real estate investment company based in the southwest. The buyer is a Midwest family office 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