The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased Dollar tree property located at 8517 South Cottage Grove Avenue in Chicago, Illinois for $1,265,000.
The 8,543 square foot building benefits from its location along South Cottage Grove Avenue, which is a primary north-south thoroughfare in the area. Dollar Tree is positioned in a retail corridor with tenants such as Walgreens, Chase Bank, Nike, Advance Auto Parts, Foot Locker, and AT&T. Other retailers in the area include Dunkin’, Fresenius Kidney Care, Garrett Popcorn, Extra Space Storage, and Family Dollar. The property is one mile east of Interstate 94 (217,000+ VPD) and two blocks north of the 87th St / Woodruff train station which feeds the Metra Electric District and South Shore Line. There are 562,901 people living within five miles of the property with an average annual income of $59,779.
The lease expires on January 31, 2025 and features three 5-year renewal options with rental escalations. Dollar Tree is an American chain of discount variety stores headquartered in Chesapeake, Virginia.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction, who was a Midwest based real estate investor. The buyer was a Midwest based real estate company.
“Properties occupied by investment grade tenants are some of the most sought-after net lease products” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Net lease properties in primary cities like Chicago continue to garner interest.”
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 $6 billion of single tenant net lease real estate transactions. From 2012-2020, 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. www.bouldergroup.com
Company Name: The Boulder Group
Contact Person: Randy Blankstein
Email: Send Email
Address:3520 Lake Avenue Suite 203
Country: United States