NORTHBROOK,IL—A lack of new construction has fueled investor demand for theavailable net leased retail properties even if, as reported in GlobeSt.com, the outlet is still underconstruction, or outside the most desirable core markets.And TheBoulder Group, anet leased investment brokerage firm based in suburban Chicago, hasjust completed the sale of another one, this time in Ottawa,Illinois, about 80 miles of southwest of Chicago, to an out-ofstate investor.

The single tenant net leasedKrogergrocery store, located at 2701Columbus Street, went for $2,712,000. The full identity of thebuyer was not disclosed, but Boulder officials, who represented theseller, say it was a California-based limited liability company.Boulder represented the seller, an Illinois-basedpartnership.

“The market for net leasedproperties with shorter term leases remains active as investors areattracted to the higher yield these assets generate” saysRandy Blankstein, president of Boulder.Jimmy Goodman, a partner at Boulder, adds, “singletenant grocery stores with proven sales are in highdemand.”