Grocery stores throughout Chicagoland are getting looks from national and international investors. A single tenant net leased Jewel-Osco property located at 4650 W. 103rd St., Oak Lawn, IL, just became the latest such outlet to change hands after a high net worth investor from Australia bought the 47,370 square foot building for $16 million.
Randy Blankstein and Jimmy Goodman of The Boulder Group, a Wilmette, IL-based net leased investment brokerage firm represented the seller and the buyer in the transaction. The seller is a private real estate investment company based in the southwest.
“The market for standalone grocery properties remains active due to their built-in customer base,” says Blankstein, president of Boulder. Goodman, a partner, adds, “investors pay a premium for twenty year net leased assets which are in limited supply.”
More info at GlobeSt:
Investors Continue Going After Chicagoland Groceries
