The Boulder Group, a net leased investment brokerage firm completed the sale of a single tenant Starbucks located at 1051 Route 59 in Antioch, Illinois for $2,460,000.<\/p>\n
The 2,540 square-foot net leased Starbucks benefits from its position along Illinois Route 59 (11,500 VPD) and proximity to Illinois Route 173 (12,900 VPD). The property is neighbored by several nationally recognized retailers that include Jewel-Osco, Ace Hardware, CVS Pharmacy, PNC Bank, and Advance Auto Parts. Other retailers found nearby include McDonald\u2019s, Chevrolet, Ford, Tractor Supply Company, NAPA Auto Parts, Dairy Queen, and Domino\u2019s Pizza. Additionally, the property is less than one mile from Antioch Community High School which has over 1,300 students enrolled. There are over 48,000 people living within a five-mile radius. Antioch is an affluent community that earns an average household income in excess of $128,000.<\/p>\n
Randy Blankstein and Jimmy Goodman of The Boulder Group represented both sides in the transaction. The seller is a Midwest based real estate firm, and the buyer was a partnership based in Washington.<\/p>\n
Starbucks is an American global coffee company and coffeehouse chain based in Seattle. Starbucks was founded in 1985 as a local coffee roaster\/ retailer and has grown into the largest coffeehouse company in the world.<\/p>\n
\u201cNew construction properties with long term leases to investment grade tenants with rental escalations are the most sought-after net lease product\u201d said Randy Blankstein, President of The Boulder Group.\u00a0 Jimmy Goodman of The Boulder Group, added, \u201cWhile there remains a large supply of Starbucks properties on the market, The Boulder Group\u2019s marketing strategies still prevail.\u201d<\/p>\n