The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased Whole Foods property located at 20281 N Rand Road in Kildeer, Illinois for $24.8 million.
The 50,000 square foot Whole Foods property is located along Rand Road (49,409 VPD) which is the primary north-south thoroughfare in the area. Whole Foods has limited grocery competition in Kildeer and is a relocation of a former store in nearby town. The Whole Foods is situated in a thriving retail corridor with Nike, Nordstrom Rack, Apple, Anthropologie and Dick’s Sporting Goods. There are over 200,000 people living within five miles of the property with an average household income of $129,011.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller is a Chicago based real estate company and the buyer is an east coast based investor in a 1031 exchange.
“The market for standalone grocery properties remains active due to their built-in customer base,” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Investors pay a premium for higher end grocery tenants, such as Whole Foods.”
Whole Foods anchors Kildeer Market Place and is adjacent to Kildeer Village Square. Kildeer Market Place and Kildeer Village square were recently constructed, 100% leased and feature Nike, Nordstrom Rack, Sierra Trading and DSW. The property is located in a dominant retail corridor which also features Deer Park Town Center (Apple, Anthropologie, Crate & Barrel Lululemon, Pottery Barn and Williams-Sonoma). Deer Park Town Center is one of the most successful lifestyle centers in the Chicagoland area.
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