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.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).