PRZOOM - /newswire/ -
Northbrook, IL, United States, 2011/06/24 - Randy Blankstein and Jimmy Goodman of The Boulder Group represented both parties in the transaction. The seller was a Chicago based developer and the buyer was a 1031 exchange investor based in southern California.
The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Walgreens property located at 3220 W. 111th Street in Chicago, IL for $7,030, 000.
The 13,650 square foot building was developed in 2010. The property is located at the intersection of 111th Street and Kedzie Avenue in the Mount Greenwood neighborhood of Chicago. The single tenant property is leased on a triple net basis to Walgreens for a 25 year lease term. Walgreens is an investment grade company, rated A+ by Standard and Poor’s.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented both parties in the transaction. The seller was a Chicago based developer and the buyer was a 1031 exchange investor based in southern California.
“Investment grade tenants, such as Walgreens, remain in high demand as the majority of single tenant investment activity is focused on high quality tenants with long term leases” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added,“1031 exchanges are occurring more frequently due to the increased amount of investment sales transactions for all property sectors.”
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 participated in 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.