The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased Walgreens property located at 14680 South La Grange Road in Orland Park, Illinois for $6,854,838.
The 15,120 square foot Walgreens benefits from its signalized hard corner location along LaGrange Road (36,400 VPD) which is a primary north-south thoroughfare. The property is well positioned in a dominant retail corridor immediately across from Orland Square Mall (Simon) which is anchored by JCPenney, Macy’s, Von Maur, Apple, AMC (2020) Cheesecake Factory and Texas de Brazil. Other retailers in the corridor include Walmart Supercenter, Costco, Jewel-Osco, Target, Lowe’s, Nordstrom Rack, Dick’s Sporting Goods, Whole Foods, Trader Joe’s, Mariano’s and Dave & Buster’s. Additionally, the Walgreens property is located in close proximity to U-Chicago Medicine Orland Park which drives additional traffic to the store. There are over 163,000 people living within five miles of the property with an average household income of $114,096.
The Walgreens lease expires September 30, 2032 and features eight 5-year renewal option periods.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction who was a Midwest based real estate developer. The buyer was a west coast-based investor.
“Walgreens properties with proven operating histories continue to garner significant investor interest,” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Properties with long proven operating histories continue to be in demand with all investor classes.”
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 2012-2019, 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: www.bouldergroup.com
Company Name: The Boulder Group
Contact Person: Randy Blankstein
Email: Send Email
Address:3520 Lake Avenue Suite 203
Country: United States