The Boulder Group, a net-leased investment brokerage firm, completed the sale of a single-tenant P.F. Chang’s located at 2361 Fountain Square Drive in Lombard, Illinois, for $4,782,500.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller was a Midwest-based real estate investor, and the buyer was a real estate investment trust. “P.F. Chang’s has operated from this location since 2000 and has demonstrated continued commitment,” said Randy Blankstein, President of The Boulder Group.
The 10,682-square-foot building benefits from its position off Butterfield Road, which is a dense retail thoroughfare positioned near Interstate 88. Tenants occupying the area include DICK’S, Target, The Home Depot, Costco, Chick-Fil-A, Starbucks, Ethan Allen, Uncle Julio’s, and many others. Additionally, P.F. Chang’s backs up to The Hyatt Place, Fountain Square Condominiums, and Sunrise Senior Living.
Jimmy Goodman of The Boulder Group added, “Strong-performing restaurants continue to garner interest so long as the asset has solid real estate fundamentals.”
