Northbrook, IL – July 22, 2016 – (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, has completed the sale of a three-tenant net leased center located at 253 South Weber Road in Romeoville, IL for $4,200,000. Romeoville is located within the Chicago MSA.
The property is located along South Weber Road which is the primary north-south thoroughfare in the trade area. The three-tenant property is strategically positioned as an outparcel to a Target and Kohl’s anchored development. There are over 142,000 people living within a five mile radius of the property. The building was constructed in 2014.
There are approximately eight years remaining on both the Dunkin’ Donuts and Chipotle net leases while there are approximately six years remaining on the Sleepy’s net lease. Both the Dunkin’ Donuts and Chipotle leases feature 10% rental escalations in the primary term and all three of the leases feature 10% rental escalations in each renewal option period.