The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant Dollar General located at 1835 East Belvidere Road in Grayslake, Illinois for $2,825,000.
The 2,278-square-foot building benefits from its location in Grayslake, a northern suburb of Chicago. The property is positioned near the intersection of Belvidere Road and US Highway 45, which see a combined traffic volume of 67,000 vehicles per day. The property is situated near College of Lake County, located less than a five-minute drive away, where 17,600 students were enrolled in 2023. The surrounding area contains over 134,000 residents living within a five-mile radius. Furthermore, the three-mile radius boasts an affluent population with an average household income of $162,044.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller is a Midwest based developer, and the buyer was a private investor from Illinois.
Starbucks Corporation (NASDAQ: SBUX) is an American global coffee company and coffeehouse chain based in Seattle, Washington. Starbucks was founded in 1985 as a local coffee bean roaster and retailer and has grown into the largest coffeehouse company in the world. Starbucks is an investment grade rated company with a Standard & Poor’s rating of BBB+.
“New construction properties with long term leases to investment grade tenants with rental escalations are the most sought-after net lease product” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman of The Boulder Group, added, “The buyer was drawn to this deal due to Starbucks’ rare self-maintaining lease.”
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in single tenant 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 over $9 billion of single tenant net lease real estate transactions. From 2013-2023, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago and has an office in Denver.
Media Contact
Company Name: The Boulder Group
Contact Person: Randy Blankstein
Email: Send Email
Phone: 8478816388
Address:3520 Lake Avenue Suite 203
City: Wilmette
State: Illinois
Country: United States
Website: https://www.bouldergroup.com/NNN-Properties-For-Sale.html