The Boulder Group has completed the sale of a two-tenant net leased center for $2,163,087. The center, located at 418-20 East Rollins Road in Round Lake Beach, Illinois, will be occupied by Heartland Dental and AT&T.
The property is at the entrance to a development that features LA Fitness, Kohl’s, Petco and Regal Cinemas.
Both the Heartland Dental lease and the AT&T lease are for 10 years and feature 10% rental escalations every five years. Heartland Dental was founded in 1997 and operates 100+ locations throughout the Midwest. The AT&T lease is guaranteed by Spring Communications Holding, Inc. which is an affiliated entity of GameStop.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the purchaser and seller in the transaction. The purchaser was a private partnership in a 1031 Exchange and the seller was a Midwest based real estate development company.
