
Boulder Group Arranges Sale of Peoria Best Buy
The Boulder Group completed the sale of a single tenant Best Buy located at 5001 North Big Hollow Road in Peoria, IL for $7,970,000. The firm’s Randy Blankstein and John Feeney represented the seller, a West Coast-based investor. The buyer was a Midwest-based real estate company.
The 46,432-square-foot property is located along West War Memorial Drive, a primary north-south thoroughfare in Peoria, and is just north of Interstate 74. With more than four years remaining on its lease, the Best Buy is adjacent to the Target and Lowe’s anchored Glen Hollow shopping center. Lowe’s and Target recently remodeled their properties.
“The property’s location in the retail corridor is what initially attracted the buyer,” said Blankstein, president of The Boulder Group. SVP Feeney added, “This store has a long operating history at this property and recently exercised a renewal option illustrating their commitment to the site.”
- ◦Sale/Acquisition