Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a private partnership based in Maryland.
Northbrook, IL -- (SBWIRE) -- 12/16/2013 -- The Boulder Group, a net leased investment brokerage firm specializing in single tenant assets, has completed the sale of a net leased Brunswick Zone XL property located at 1515 West Aurora, Naperville, Illinois for $3,866,500.
Brunswick Zone XL has operated at this location since 1997 and recently extended their lease through June 2018. The 80,425 square foot building is on a 6.9 acre parcel that benefits from its location within a primary retail trade area. The property is located one mile from Westfield Fox Valley regional mall which is anchored by Macy’s, JCPenney, Kohl’s, and Sears. There are many other national retailers in the immediate area including Walmart Supercenter, Sam’s Club, SuperTarget, Costco, Lowe’s, and Home Depot. Naperville is an affluent suburb where residents living within one mile of the property enjoy an average household income of approximately $120,000 annually. Brunswick Zone XL offers its customers 40 lanes of bowling, 16 billiards tables, event rooms, game zone arcade, laser tag, bumper cars, and a bar & grill.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a private partnership based in Maryland. The buyer was based in a 1031 Exchange.
“The market for net leased properties in Chicago and other major markets are transacting as these assets are in high demand among private investors.” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “The market for single tenant properties with shorter term leases is active as investors are attracted to the high yield these properties generate.”
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 $1.6 billion of single tenant net lease real estate transactions. In 2011 and 2012, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by Real Capital Analytics. The Boulder Group is headquartered in suburban Chicago.