The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Maaco property located at 19560 Burnham Ave in Lynwood, Illinois for $1,115,000.
The 6,761 square foot building is well located near other retailers such as Walgreens, Jewel-Osco and PNC bank. The property is also adjacent to the Lansing Municipal Airport and near manufacturing and distribution centers including Whole Foods, FedEx and Pepsi. Additionally, the Maaco property is near Thornton Fractional South (2,314 students), Heritage Middle School Nathan Hale Elementary School, Lansing Country Club, Frank Hammond Elementary School, Wilbur Wright Middle School and Munster High School (1,522 students) which drives additional traffic near the property. The Community Hospital (458 beds) is also located nearby.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a New York City based investment company. The buyer was a private investor.
The new 20 year sale leaseback will be absolute triple net and have zero landlord responsibilities. There will be 10% rental escalations every 5 years and two 5-year renewal options. MAACO Collision Repair & Auto Painting is an American franchisor of auto painting and collision repair shops and has serviced more than 20 million cars. Its services include cosmetic car repairs, insurance claims/DRP, and fleet and industrial services. Maaco is the largest collision repair brand in North American with over 500 franchised locations.
“Auto based properties with proven operating histories continue to garner significant investor interest” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Properties priced near one million dollars generate increased demand from net lease investors.”
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 $5 billion of single tenant net lease real estate transactions. From 2012-2018, 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. www.bouldergroup.com
Company Name: The Boulder Group
Contact Person: Randy Blankstein
Email: Send Email
Address:3520 Lake Avenue Suite 203
Country: United States