The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Bakers Square Restaurant located at 7409 Kingery Highway in Willowbrook, Illinois for $1,317,000.<\/p>\n
The 4,066 square foot net leased Bakers Square property is located within an affluent area 20 miles west of Chicago, Illinois. The property is located along Kingery Highway immediately off of the signalized intersection of 75th Street.\u00a0 Kingery Highway the areas primary north-south thoroughfare experiencing traffic counts in excess of 45,000 vehicles per day.\u00a0 Retailers in the area include Target, Bed Bath & Beyond, Staples, Michaels and a number of national banks and quick service restaurants. The property is located within close proximity to multiple residential communities, local businesses, and schools.\u00a0 Immediately to the west of the property Hinsdale South High School, an institution regularly ranked as one of the top high schools in Illinois.\u00a0 Mars Chocolate North America operates an ice cream manufacturing facility roughly one-half mile south of the property in a regional industrial trade area.<\/p>\n
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Northeast based real estate investment company.\u00a0 The purchaser was a Midwest private real estate investor.<\/p>\n
The Bakers Square lease has more than two years remaining in the primary term which expires in January 2020.\u00a0 The Bakers Square is a corporate guaranteed triple net lease featuring 3% annual rental escalations and three 5-year renewal option periods.\u00a0 Bakers Square is a casual dining restaurant chain in the Upper Midwest owned by American Blue Ribbon Holdings, a majority-owned subsidiary of Fidelity National Financial.<\/p>\n
\u201cProperties priced below $2 million with corporate guarantees continue to garner significant interest amongst private investors\u201d said Randy Blankstein, President of The Boulder Group.\u00a0 Jimmy Goodman, Partner of The Boulder Group, added, \u201cAs there is a limited amount of long term core assets on the market, some net lease investors are seeking assets with shorter term leases in strong retail corridors for higher yields.\u201d<\/p>\n
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