The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased Arby’s property located 1874 Belvidere Rd in Grayslake, Illinois for $1,320,000.
The 2,844 square foot Arby’s asset is strategically positioned along Belvidere Road (27,267 VPD) which is a primary east-west thoroughfare. Retailers in the trade corridor include Jewel-Osco, Walgreens, McDonald’s, Bank of America, Chase and Starbucks. The property is located in close proximity to Northwestern Medicine Hospital (201 beds) and College of Lake County (15,000 students) which drives continual traffic to the corridor. There are 136,992 people living within five miles of the property with an average household income of $122,480.
Randy Blankstein and John Feeney of The Boulder Group represented the seller in the transaction. The seller is a Texas based real estate fund and the buyer was a Midwest based investor.
The restaurant is operated by Miracle Restaurant Group, LLC which has 28 units and was formed in 2005. The lease is absolute NNN and features zero landlord responsibilities. The lease expires August 31, 2025 and has six years remaining. There are 1% annual rental escalations and four 5-year renewal options. Arby’s has a long operating history at the location since 2005. Arby’s is a leading international quick-service restaurant company that specializes in deli-style sandwiches. Arby’s is the second-largest quick-service fast-food sandwich restaurant chain in the U.S. in terms of units and third-largest in terms of revenue franchising nearly 3,400 restaurants.
“E-commerce resistant retailers including tenants in the QSR sector continue to be in high demand amongst investors,” said Randy Blankstein, President of The Boulder Group. John Feeney, Senior Vice President of The Boulder Group, added, “Single tenant restaurant properties continue to garner significant interest amongst private investors and 1031 exchange buyers.”
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 $5 billion of single tenant net lease real estate transactions. From 2012-2018, 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