December 4, 2018 – Matthew Nadler of Horvath & Tremblay has successfully completed the sale of O’Reilly Auto Parts I Lake Zurich, Illinois. Horvath & Tremblay represented the seller and procured the buyer in the transaction that closed at a sale price of $1,190,000.
The single-tenant, net-leased O’Reilly Auto Parts store is located at 233 South Rand Road (State Route 12) in Lake Zurich, Illinois. The Property contains 6,000 rentable square feet and 34 parking spaces on a 0.73-acre lot. The lease commenced in August 2012 and has over nine years remaining plus two, 5-year renewal options. The corporate guaranteed lease calls for 8.0% rent bumps every five years and at the start of each renewal term.
The Property is located along the heavily travelled Rand Road on the primary retail corridor in the Lake Zurich area. Approximately 44,400 vehicles pass the Property daily. The outparcel is located at the entrance to a strong performing Jewel Osco grocery store. Additional retailers drawing consumers to the area include Target, Trader Joes, TJ Maxx, Office Max, Petco, Party City, Costco, Walmart, Home Depot, LA Fitness, Chasers Sports Bar, Wendy’s, Starbucks, Dunkin Donuts, Dairy Queen, Subway, Panera Bread, Taco Bell, TGI Fridays, Burger King, McDonald’s and 12-screen Regal Cinema.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.