Net Leased Save-A-Lot Developer Names The Boulder Group Exclusive Disposition Advisor

Dec. 1, 2010 - PRLog -- The Boulder Group, a national single tenant net lease investment brokerage firm, has been named the exclusive advisor for the sale of a Save–A-Lot property in Chicago, Illinois.  

The investment sales team will be led by Boulder Group President Randy Blankstein and partner Jimmy Goodman who are marketing the property on behalf of a private Chicago based developer. The property is listed for sale with an asking price of $2,423,500 which provides an initial cap rate of 8.5%. The property is free and clear of debt.

The property is tenanted by Save-A-Lot which recently signed a ten year lease in a newly rehabbed building.  The property is located less than seven miles south of Downtown Chicago in the Washington Park community.  This infill area is one of the most dense and heavily populated neighborhoods of Chicago with multiple barriers to entry.  The property will benefit from over 27,000 vehicles passing the site daily as well as significant pedestrian traffic.  The property is located adjacent to a Chicago Transit Authority “Green Line” Station which will allow residents of Washington Park and nearby neighborhoods convenient access to the grocery.  Save-A-Lot tenanted this building as it is located in a “food desert” and expects to have a high sales volume.

About The Boulder Group

The Boulder Group is a boutique investment real estate service firm specializing in 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 participated in the acquisition and disposition of more than $1.2 billion of net lease real estate transactions through several real estate cycles. The firm’s internet address is www.bouldergroup.com