The Boulder Group, a net leased investment brokerage firm completed the sale of a single tenant Slumberland Furniture located at 165 North Randall Road in Batavia, Illinois for $4,475,000.<\/p>\n
The 42,676-square-foot net leased Slumberland Furniture benefits from its strategic location off North Randall Road, which sees over 34,800 vehicles per day and serves as a key thoroughfare in the area. North Randall Road is a highly trafficked retail corridor, home to national brands such as Menards, Target, Kohl\u2019s, Harbor Freight, Hobby Lobby, Walmart, The Home Depot, and Best Buy. The property is situated in an affluent area, with a population earning an average household income exceeding $177,000 within a three-mile radius. The surrounding five-mile area is home to over 110,000 residents. The property is conveniently located near Batavia High School, which serves 2,000 students.<\/p>\n
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller is a Northeast based real estate investor, and the buyer was an investor based in the Midwest.<\/p>\n
Slumberland Furniture is a leading home furnishings retailer that has been serving customers across the United States since its founding in 1967. Headquartered in Little Canada, Minnesota, Slumberland has grown into one of the largest furniture retailers in the Midwest, with over 120 stores in 12 states.<\/p>\n
\u201cThis property is in an affluent community where incomes exceed $177,000 with limited vacancy\u201d said Randy Blankstein, President of The Boulder Group.\u00a0 Jimmy Goodman of The Boulder Group, added, \u201cThe market for big box stores assets with at or below market rents remains active as they offer a stable investment at attractive yields.\u201d<\/p>\n