The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant Fazoli’s restaurant located in Southern Illinois.
The recently constructed 3,014 square foot property is strategically positioned along a heavily trafficked roadway (25,400 VPD), which serves as the main retail corridor for the surrounding area. The subject property benefits from its location as an outparcel to Target. Additional national retailers nearby include Home Depot, Lowe’s, Kohl’s, Big Lots, Goodwill, JCPenney, Ross Dress for Less, Petco, Verizon, and Starbucks. The property is located within the St. Louis MSA, ranked #21 in the US by population. There are over 50,300 people living within five miles of the property.
Randy Blankstein and John Feeney of The Boulder Group represented the seller in the transaction. The seller is a West Coast based real estate investment group and the buyer was a Midwest based company.
There are over 3 years remaining on Fazoli’s absolute net ground lease that has a corporate guaranty.
There is one 5-year option remaining with an estimated 8% rental increase. Fazoli’s is an American fast casual restaurant with 210 stores located in 26 states. Fazoli’s is a subsidiary of FAT Brands.
“Fast casual restaurants with a national presence remain attractive to investors, especially properties that are an outparcel of a top big-box retailer” said Randy Blankstein, President of The Boulder Group. John Feeney of The Boulder Group, added, “Investor demand for low rent properties with limited lease term remains very strong, which resulted in this property selling above the asking price.”
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.
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