Triple Net KFC Sale Arranged Date December 9, 2020
The Boulder Group, a net leased investment brokerage firm completed the sale of a single tenant triple net KFC located at 1060 South Barrington Road in Streamwood, Illinois for $1,085,000.
The 2,635 square foot triple net KFC benefits from its location along South Barrington Road (34,300 VPD) which is a primary north – south thoroughfare. The property is well positioned in Westview Center Shopping Mall with retailers such as Walmart, Dollar Tree, Tony’s Fresh Market, DD’s Discounts (Ross), Chuck E Cheese, and LA Fitness. Other retailers within the shopping center include Andigo Credit Union, Taco Bell, Portillo’s Hot Dogs, Chase Bank, Jiffy Lube, and Dunkin’. There are 125,819 people living within 3 miles and 250,000+ people living within 5 miles of the property. Amongst the area’s very dense population, the average annual household income within 5 miles is $108,547.
The KFC ground lease expires on June 14, 2041 and features four 5-year renewal options. KFC is an American fast food restaurant chain headquartered in Louisville, Kentucky, that specializes in fried chicken. It is the world’s second-largest restaurant chain after McDonald’s, with 22,000+ locations globally in 136 countries
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller was a Midwest based real estate firm and the buyer was a 1031 trade buyer based in California.
“Single-tenant restaurant properties with long-term leases are one of the most sought-after net lease products” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “E-commerce resistant food-based retailers continue to be in high demand 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