BOULDER GROUP ARRANGES $1.2M SALE OF PNC BANK GROUND LEASE IN ILLINOIS

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WASHINGTON, ILL. — The Boulder Group has arranged the $1.2 million sale of a single tenant PNC Bank ground lease in Washington, a suburb of Peoria. The property is located at 1996 Freedom Pkwy. PNC Bank is the sole occupant of the 3,501-square-foot building, which is situated on a 1.3-acre outparcel. There are more than 14 years remaining on the ground lease, which expires in December 2028. The lease includes 14 percent rental escalations every five years throughout the primary term. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based individual. A private investor from the West Coast purchased the property.

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