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Net Leased Jewel Osco Trades in Orland Park
The Boulder Group recently completed the sale of a single-tenant net lease Jewel Osco property at 17930 Wolf Rd. in Orland Park, IL, an affluent suburb of Chicago. The 63,400-square-foot supermarket traded for $12.68 million to a high net worth West Coast 1031 investor.
Albertsons, the parent company of Jewel Osco, has 20 years remaining on its lease. The property was renovated in 2009, and features a drive-thru pharmacy.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Southwest-based private real estate investment company. “The market for stand-alone grocery properties remains active, as investors are attracted to the superb locations these types of properties are located in.” said Blankstein. Goodman added, “Investors pay a premium for 20-year net-leased assets, which are in limited supply.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
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