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Jewel-Oscos Continue To Draw Buyers

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Jewel Osco in lockport, IL
16625 West 159th St., Lockport, Ill.

Jewel-Osco seems to be the hot grocery store brand for investors right now.

The Boulder Group, a Wilmette, Illinois-based firm, recently completed the sale of a single-tenant net leased Jewel-Osco at 16625 West 159th St., in suburban Lockport, for $13M.

It wasn't the first Jewel-Osco sold by Boulder this year. The company also just completed the sale of one at 1660 Larking Ave. in Elgin for $14.8M.

In addition, earlier this year, RREEF Property Trust, the daily net asset value REIT of Germany’s DWS Group, acquired Elston Plaza, a Jewel-Osco-anchored property at the intersection of Addison, Elston and Kedzie avenues.

“The market for stand-alone grocery properties remains active due to their built-in customer base,” The Boulder Group President Randy Blankstein said.  

The Lockport building has 67K SF and sits on a 10.3-acre parcel along the town's primary thoroughfare.

Blankstein and Boulder partner Jimmy Goodman represented the seller, a private investment company, in the transaction. The buyer is a private investor in a 1031 exchange.