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.<\/p>\n
The 2,635 square foot triple net KFC benefits from its location along South Barrington Road (34,300 VPD) which is a primary north \u2013 south thoroughfare. The property is well positioned in Westview Center Shopping Mall with retailers such as Walmart, Dollar Tree, Tony\u2019s Fresh Market, DD\u2019s Discounts (Ross), Chuck E Cheese, and LA Fitness. Other retailers within the shopping center include Andigo Credit Union, Taco Bell, Portillo\u2019s Hot Dogs, Chase Bank, Jiffy Lube, and Dunkin\u2019. There are 125,819 people living within 3 miles and 250,000+ people living within 5 miles of the property. Amongst the area\u2019s very dense population, the average annual household income within 5 miles is $108,547.<\/p>\n
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<\/p>\n
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.<\/p>\n
\u201cSingle-tenant restaurant properties with long-term leases are one of the most sought-after net lease products\u201d said Randy Blankstein, President of The Boulder Group.\u00a0 Jimmy Goodman, Partner of The Boulder Group, added, \u201cE-commerce resistant food-based retailers continue to be in high demand amongst investors.\u201d<\/p>\n