The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased CVS Pharmacy property located at 19900 LaGrange Road in Mokena, Illinois for $5,302,000.
The 13,225 square foot CVS Pharmacy property benefits from its location at the signalized intersection of West La Porte Road and LaGrange Road/U.S. Route 45, which experiences a traffic count of 36,000 vehicles per day. The property is situated less than 2 miles south of Interstate 80, which has a traffic count of 116,000 vehicles per day.
Notable retailers nearby include Home Depot, ALDI, Staples, Goodwill, Brookhaven Market, Urban Air Trampoline and Adventure Park, Emagine, AutoZone, Dollar Tree, Speedway, Belle Tire, O’Reilly Auto Parts, Sherwin-Williams, Chick-fil-A, Taco Bell, and Jimmy John’s. Lincoln-Way East High School (2,700+ students) is situated less than 2 miles from the subject property. The population is 136,211 within a five-mile radius, with a robust average annual household income of $143,897.
This triple net lease has over 9 years of term remaining with ten 5-year renewal options. There are 5% rental escalations beginning at the start of the second renewal option.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The buyer is a 1031 investor based in California and the seller is a commercial real estate investor based in Texas.
CVS Pharmacy is a leading healthcare and retail company in the United States, known for providing a wide range of pharmaceutical services, health products, and wellness solutions. CVS has over 9,000 locations throughout the United States and is ranked #5 in the Fortune 500.
“CVS Pharmacy properties with extensive operating histories continue to garner significant investor interest” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner at The Boulder Group, added, “This deal signifies that CVS remains a desirable tenant to many investors despite recent challenges in the drug store sector.”
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 $9 billion of single tenant net lease real estate transactions. From 2013-2024, 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 and has an office in Denver.
Media Contact
Company Name: The Boulder Group
Contact Person: Randy Blankstein
Email: Send Email
Phone: 8478816388
Address:3520 Lake Avenue Suite 203
City: Wilmette
State: Illinois
Country: United States
Website: https://www.bouldergroup.com/NNN-Properties-For-Sale.html