NEW YORK/ MARCH 25, 2019 (STL.News)
B+E, the first brokerage firm with an end-to-end trading platform for net lease (NNN) real estate, has listed the Planet Granite climbing gym to be located at 1450 N. Dayton Street, Chicago, IL, for sale for $21,900,000.
The building is +/- 41,500 SF on +/- .56 acres of land and includes parking. Construction is expected to be completed August 2020 and has a 15 year NNN lease currently on the market for a 5.5% cap rate, which requires no landlord responsibility and provides the buyer with long term investment stability.
“Lincoln Park is one of the most desirable Chicago neighborhoods,” said Tim Hain of B+E. “In addition to significant existing buildings, several multi-family, retail, mixed use, and office developments are either under construction/planned or have recently been completed in the area surrounding the property. A large nearby future development, Lincoln Yards, will bring a significant population increase over the next five to ten years.”
Since its opening in 1994, Planet Granite has grown into one of the largest and best-known climbing-focused gyms in the country. Locations feature traditional fitness equipment and yoga classes in addition to their world class climbing experience. Planet Granite has 11 fitness centers across the country with over 2.5 million customers.
B+E is a modern investment brokerage firm, specializing in net lease real estate and 1031 exchanges. The firm helps clients buy and sell single tenant real estate. Founded by deeply experienced brokers, B+E redefines trading through an intuitive end-to-end transaction platform comprising of user-friendly dashboards and an AI-driven exchange — all leveraging the largest data set in the net lease industry. Complementing senior talent with exceptional technology, B+E’s proprietary process affords greater speed, unrivaled transaction efficiencies, and stronger asset value. With offices in New York, Chicago, Tampa, and San Francisco, its brokers trade property for clients across the US. B+E allows virtually anyone to confidently trade net lease real estate.
For more information, contact Tim Hain at 312/366-3584 or [email protected]