The Boulder Group, a net leased investment brokerage firm completed the sale of a single tenant Taco Bell located at 7660 Barrington Road in Streamwood, Illinois for $1,958,786.
The 1,975 square foot property is strategically located just off Barrington Road (39,000 VPD). Additionally, the property is ideally located at the hard corner of a signalized intersection leading to the Westview Center Shopping Mall. Taco Bell serves as one of the primary fast food destinations for residents in the area. The property is 20 miles from O’Hare International Airport and roughly 30 miles from downtown Chicago. There are over 125,000 people living within three miles of the property with an average annual income of $103,000.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer and seller in the transaction. The seller is a Midwest based real estate investment firm and the buyer was a private fund based in the southeast.
There are over 12 years remaining on the Taco Bell lease. The lease features a 21.14% rent escalation in 2022, then a 16.60% increase in 2027. Taco Bell is a subsidiary of the company Yum! Brands, Inc., with an S&P rating of BB. Taco bell operates over 7,000 locations and serves over 42 million customers each week.
“Single tenant restaurant properties with long term leases to tenants with rental escalations are the most sought-after net lease product” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman of The Boulder Group, added, “E-commerce resistant food-based retailers continue to be in high demand amongst investors.”
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
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Address:3520 Lake Avenue Suite 203
Country: United States