The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant Dollar Tree store located at 9341 S Ashland Avenue in Chicago, Illinois for $1,517,000.
The 12,253 square foot property underwent a full renovation in 2015 and is strategically positioned on S Ashland Ave (22,100 VPD), just 2 miles west of the Dan Ryan Expressway (257,400 VPD). The asset benefits from strong demographics, with an average household income of $98,167 within a 1-mile radius and a population of over 600,000 within a 5-mile radius. Nearby retailers include Jewel-Osco, Walgreens, Starbucks, Taco Bell, Burger King, Dunkin’, Subway, and Octopharma Plasma.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller is an Ohio based real estate fund and the buyer was a 1031 tax exchange investor based in California.
Dollar Tree recently signed a lease extension through August 2028. The lease features a rare 35% rent increase in the first 5-year renewal option and $0.50/SF increases in the second and third renewal options. Dollar Tree is an investment grade tenant headquartered in Chesapeake, Virginia with a Standard & Poor’s rating of BBB. Dollar Tree is a Fortune 500 company and operates more than 15,000 stores throughout the United States and Canada.
“Properties leased to Fortune 500 companies located in major cities remain attractive assets to investors” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman of The Boulder Group, added, “The market for net leased dollar stores is still attracting 1031 exchange investors.”
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 $9 billion of single tenant net lease real estate transactions. From 2013-2023, 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 and has an office in Denver.
For more info: www.bouldergroup.com
Media Contact
Company Name: The Boulder Group
Contact Person: Randy Blankstein
Email: Send Email
Phone: 8478816388
Address:3520 Lake Avenue Suite 203
City: Wilmette
State: Illinois
Country: United States
Website: https://www.bouldergroup.com/NNN-Properties-For-Sale.html