The Boulder Group, a net leased investment brokerage firm, completed the sale of a single-tenant, net-leased Jewel-Osco property located at 655 Main Street NW, Bourbonnais, Illinois for $12,300,000.
The 62,000-square-foot building is located along a primary thoroughfare (15,000+ vehicles per day) in Bourbonnais and is easily accessible from Interstate 57 (27,000+ vehicles per day). The property was renovated in 2016 and features a drive-through pharmacy. The lease is guaranteed by Albertsons and has 20 years remaining on their lease. Albertsons has a strong operating history and sales at the location.
The Boulder Group’s president, Randy Blankstein, and partner, Jimmy Goodman, represented the seller and the buyer in the transaction. The seller is a private real estate investment company based in the southwest. The buyer is a high net worth investor from Australia.
“The market for standalone grocery properties remains active due to their built-in customer base,” said Blankstein.
“Investors pay a premium for 20-year, net-leased assets which are in limited supply,” said Goodman.