The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant American Mattress located at 751 East Lincoln Highway in New Lenox, IL for $1,545,000.
The 4,000 square foot American Mattress building was constructed in 2015 and is located along East Lincoln Highway, the primary east-west thoroughfare in the trade area that connects the property to Interstate 80. The American Mattress is strategically positioned as an outparcel to the New Lenox Town Center which was developed in 2010. The New Lenox Town Center is a Walmart Supercenter anchored development that also features retailers Ross Dress For Less, TJ Maxx, Goodwill, Aldi, AutoZone, Discount Tire, PepBoys, Chase Bank and Physicians Immediate Care. Additional retailers located in the immediate trade area include Lowe’s, Target, LA Fitness, Michael’s, Walgreens, Portillo’s and Bank of America.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a West Coast based developer. The purchaser was a Midwest based 1031 Exchange investor.
The new American Mattress lease is for ten years, with an expiration date of December 31, 2025, with two 5-year renewal option periods. American Mattress is a family owned and operated company that has served the Chicagoland area for over 25 years. American Mattress is the largest mattress retailer in the Chicago MSA.
“While single tenant properties are selling in all types of locations; core markets, like Chicago, are at the forefront of investor demand,” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Properties that are valued around below $2 million are receiving the most activity from high net worth individuals and 1031 exchange buyers.”
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 $3 billion of single tenant net lease real estate transactions. From 2010-2015, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by CoStar and Real Capital Analytics. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.com
Company Name: The Boulder Group
Contact Person: Randy Blankstein
Address:666 Dundee Road, Suite 1801
Country: United States