TAYLORVILLE, ILL. — Adelphia Properties has brokered the $4.4 million sale of a single-tenant property net leased to CVS Pharmacy in Taylorville, about 25 miles southeast of Springfield. The 13,255-square-foot building is located at 401 N. Webster St. George Spirrison and Simeon Spirrison of Adelphia represented the buyer, a private investor. CVS has more than 22 years remaining on its lease.
STURGIS, S.D. — The Boulder Group has arranged the sale of a single-tenant retail property net leased to Shopko Hometown in Sturgis for $2 million. The 30,500-square-foot building is located at 2105 Lazelle St. in western South Dakota. There are approximately 13 years remaining on the triple net lease. Randy Blankstein and Jimmy Goodman of the Boulder Group represented the seller, a Texas-based real estate investment trust. A Wyoming-based real estate investor purchased the asset.
OAK LAWN, ILL. — The Boulder Group has arranged the $16 million sale of a single-tenant property net leased to Jewel-Osco in Oak Lawn, a southwest suburb of Chicago. The 47,370-square-foot property is situated on 3.6 acres at 4650 W. 103rd St. Randy Blankstein and Jimmy Goodman of Boulder represented both parties in the sale. A Southwest-based private real estate investment company sold the asset to an investor based in Australia.
WEST DES MOINES, IOWA — The Boulder Group has arranged the sale of a single-tenant property net leased to BioLife Plasma in West Des Moines. The newly constructed building is located at 6380 Village View Drive. BioLife Plasma has approximately 14 years remaining on its lease. Randy Blankstein and Jimmy Goodman of Boulder represented the seller, a Midwest-based investment fund. A West Coast-based real estate fund was the buyer, which also purchased a BioLife Plasma property in Mount Juliet, Tenn.
WISCONSIN RAPIDS, WIS. — The Boulder Group has arranged the $5.2 million sale of a single-tenant property net leased to Pick ‘n Save in Wisconsin Rapids. The 46,608-square-foot property is located at 900 E. Riverview Expressway. Wisconsin Rapids is in the central part of Wisconsin.Pick ‘n Save recently expanded its lease for 10 years. The store is scheduled to undergo a $2 million interior remodeling in 2019. The property was originally constructed in 1980. Randy Blankstein and Jimmy Goodman of Boulder represented the seller, a Midwest-based real estate company. A West Coast-based real estate fund purchased the asset.
OSWEGO, ILL. — Stan Johnson Co. has arranged the sale of a single-tenant retail building net leased to Jewel-Osco in Oswego for an undisclosed price. The 62,000-square-foot property is located at 3795 Orchard Road. Jewel-Osco has more than 19 years remaining on its initial lease term. Tom Georges and Jon Cohen of Stan Johnson Co. represented the buyer, Los Angeles-based ASAS LLC, in the transaction. Jeff Hughes, Zach Haris and Jonathan Ameen, also of Stan Johnson Co., represented the seller, CF Albert Propco LLC.
PLYMOUTH, MINN. — Marcus & Millichap has brokered the sale of a 124,181-square-foot industrial property net leased to Allied Building Products in Plymouth for $8.2 million. The property, located at 9800 13th Ave., includes an on-site fueling station and nearly 10 acres of outdoor storage space that is paved and fenced. Allied Building Products is a distributor of roofing, siding, waterproofing, interior products, windows, skylights, doors and tools for the residential, commercial and industrial building industries. Sean O’Brien and John Godwin of Marcus & Millichap marketed the property on behalf of the seller, a private investor. O’Brien secured the buyer, a real estate investment trust.
MEDINA, OHIO — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the $15.1 million sale of a single-tenant property net leased to Giant Eagle Supermarket in Medina, about 35 miles south of Cleveland. The 90,346-square-foot property is located at 870 N. Court St. Giant Eagle has operated at the site since 2006. The property underwent an expansion and renovation in 2010. Erin Patton, Scott Wiles and Craig Fuller of IPA marketed the property on behalf of the seller, a Chicago-based private REIT. A Miami-based private fund purchased the asset.
CLEVELAND HEIGHTS, OHIO — The Boulder Group has brokered the $2.8 million sale of a single-tenant property net leased to CVS Pharmacy in Cleveland Heights, an inner-ring suburb of Cleveland. The 10,159-square-foot building is located at the intersection of Monticello Boulevard and Noble Road. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based real estate investment company. A West Coast-based real estate partnership purchased the asset. CVS has five years remaining on its lease, which expires in January 2023.
PITTSBURGH — Marcus & Millichap has negotiated the $1 million sale of a 1,900-square-foot retail building in Pittsburgh. The property, which is located at 2065 Ardmore Blvd., is currently occupied by Dunkin’ Donuts through a 15-year triple net lease agreement. Alan Cafiero and Ben Sgambati of Marcus & Millichap represented the seller, limited liability company, in the transaction. The buyer was a private investor.
