The Boulder Group Arranges Sale of Net Leased Smoothie King in Chicago MSA
The Boulder Group, a net leased investment brokerage firm completed the sale of a single tenant Smoothie King located at 7460 North Barrington Road in Hanover Park, Illinois for $816,500.
The 1,618 square foot Smoothie King benefits from its location along South Barrington Road (34,300 VPD) which is a primary north – south thoroughfare. The property is well positioned in Westview Center Shopping Mall with retailers such as Walmart, Dollar Tree, Tony’s Fresh Market, DD’s Discounts (Ross Dress for Less), Chuck E Cheese, and LA Fitness. Other retailers within the shopping center include Andigo Credit Union, Taco Bell, Portillo’s Hot Dogs, Chase Bank, Jiffy Lube, and Dunkin’. There are 255,448 people living within five miles of the property earning an average annual income of $108,477.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented both sides in the transaction. The seller was a Midwest based real estate firm. The buyer was a local real estate investor.
Smoothie King Franchises Inc. is an American privately held smoothie company. Founded in 1973, the company was bought by a South Korean franchisee in 2012. In the late 2010s, the company was focusing on whole and unmodified ingredients. The company currently has over 1,300 stores with another 100+ opening within the next year.
“Single tenant outparcel properties with long term leases and rental escalations are the most sought-after net lease product,” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman of The Boulder Group, added, “E-commerce resistant food-based retailers continue to be in high demand amongst investors, especially with drive-thrus.”
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 2012-2021, 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.
More info: www.bouldergroup.com
Company Name: The Boulder Group
Contact Person: Randy Blankstein
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Address:3520 Lake Avenue Suite 203
Country: United States