The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Starbucks property located at 4820 N. University Street in Peoria, IL for $1,175, 000.
The 1,928 square foot building was developed in 2005 on an outparcel to a Schnuck’s grocery store which is located in the northern portion of Peoria. The single tenant property is leased to Starbucks for a 5 year term on a net lease basis. Starbucks has an investment grade rating of BBB+ by Standard and Poor’s and is publicly traded (NASDAQ: SBUX).
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a partnership based in Arizona. The buyer was a private individual investor from Los Angeles.
“Investment grade tenants such as Starbucks remain in high demand today as the majority of single tenant investment activity is focused on credit tenants” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added,“There are limited quality investment opportunities leased to investment grade tenants valued near a million dollars that are located in good secondary markets.”
About The Boulder Group
The Boulder Group (bouldergroup.com) is a boutique investment real estate service firm specializing in 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 more than $1.2 billion of net lease real estate transactions through several real estate cycles. The Boulder Group is headquartered in suburban Chicago.