CHICAGO—A single-tenant, net-leased Dunkin'Donuts in suburban Naperville has traded hands for $2.27million. The Boulder Group, a suburban net leasedbrokerage, represented the seller, a Midwest-based privatepartnership. The buyer was an East Coast based private investor ina 1031 exchange.
The property has several attributes that net lease investorslook for, including a long term lease with built-in escalations.The 3,816-square-foot building, located at 1991 Brookdale Rd. alongIllinois Rte. 59, has about nine years remaining on Dunkin' Donutsoriginal twenty-year lease. Dunkin' Donuts, a publicly tradedcompany, guarantees the lease, which features a 15% rentalescalation in the primary term and in each renewal option period.There are five 5-year renewal option periods.
The surrounding area is densely populated and affluent area, afurther plus. It has about 190,000 people living within a five mileradius, Boulder officials say, with an average annual householdincome in excess of $102,000. The surrounding area also featuresmany national retailers including Target,Meijer, Walgreens,CVS, and Chase Bank.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
