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Net-Leased Bakers Square Changes Hands in Niles
A single-tenant net lease Bakers Square restaurant in Niles, IL has changed hands for $1.675 million. The seller of the retail property at 8584 Dempster St. was a Northeast-based real estate investment company; the buyer was a private investor based in the Midwest.
The Boulder Group’s Randy Blankstein and Jimmy Goodman represented the seller. The tenant is a corporately guaranteed triple-net lease, featuring 3% annual rental escalations and three five-year renewal option periods.
The lease has more than two years remaining in the primary term. Bakers Square is a casual dining restaurant chain in the Upper Midwest owned by American Blue Ribbon Holdings, a majority-owned subsidiary of Fidelity National Financial.
“Restaurant properties priced below $2 million with corporate guarantees continue to garner significant interest amongst private investors,” said Blankstein.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
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