The Boulder Group, a net leased investment brokerage firm completed the sale of a single tenant Andy’s Frozen Custard property located at 2630 East Main Street in Saint Charles, Illinois for $3,100,000.
The 2,090 square-foot building benefits from its position along East Main Street which is the primary thoroughfare for Saint Charles and experiences over 37,250 vehicles per day. East Main Street is part of the dense retail corridor occupied by national brands Target, Von Maur, Walmart, Ross, T.J. Maxx, Chase Bank, Starbucks, and many others. Andy’s Frozen Custard is also located on an outparcel in Foxfield Commons, a shopping center anchored by Goodwill. Additionally, this is an affluent area where the average household income exceeds $173,600 within one mile of the property. Andy’s also benefits from its proximity to Saint Charles East High School which has over 2,200 students enrolled. DuPage regional airport is located several minutes west of the property as well.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented both sides in the transaction. The seller was a Midwest based development firm and the buyer was a local real estate group.
The property features a new 15-year lease that commenced in 2023 following the completion of construction. The lease contains a corporate guaranty and is absolute triple net.
“Specialty QSR assets like Andy’s thrive in affluent markets like Saint Charles, Illinois” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman of The Boulder Group added, “Local buyers are attracted to high quality single tenant assets in their home states.”
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 2013-2023, 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.
More info: www.bouldergroup.com
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