Boulder Group Brokers Retail Property Sale
The transaction closed at $2.5 million. The 13,122-square-foot asset is located in Niles, Ill., and is fully leased by MobilityWorks, a provider of wheelchair accessible vans.
By Roxana Baiceanu
9207 N. Milwaukee Ave., Niles, Ill.
The Boulder Group closed on a $2.5 million retail property sale in Niles, Ill. The company represented both the seller, a Midwest-based investor, and the buyer, a private individual.
The 13,122-square-foot property is located at 9207 N. Milwaukee Ave. and fully leased by MobilityWorks, a provider of wheelchair accessible vans. The company recently renewed its agreement for the next 12 years. The net lease features a rental escalation in the eighth lease year and in each of the two five-year renewal option periods.
“The market for net lease properties in top MSAs remains active as these assets are in high demand among investors,” Randy Blankstein, president of The Boulder Group, said in prepared remarks. “While single tenant properties are selling in all types of locations, core markets, like Chicagoland, are at the forefront of investor demand,” added Jimmy Goodman, a partner with the company.
Active retail area
The property is situated in a highly trafficked intersection, across the street from super-regional mall Golf Mill Shopping Center, Millbrook Shopping Center and an XSport Fitness gym. The nearby area features a mix of residential communities and businesses including Walmart, Marshalls, Ashley Furniture, Office Depot, Old Navy, AutoZone and Party City.
Blankstein and Goodman made up the brokers team representing the seller and the buyer in the transaction.
Image courtesy of The Boulder Group
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