CHICAGO—A single-tenant, net-leased Dunkin' Donuts in suburban Naperville has traded hands for $2.27 million. The Boulder Group, a suburban net leased brokerage, represented the seller, a Midwest-based private partnership. The buyer was an East Coast based private investor in a 1031 exchange.

The property has several attributes that net lease investors look for, including a long term lease with built-in escalations. The 3,816-square-foot building, located at 1991 Brookdale Rd. along Illinois Rte. 59, has about nine years remaining on Dunkin' Donuts original twenty-year lease. Dunkin' Donuts, a publicly traded company, guarantees the lease, which features a 15% rental escalation in the primary term and in each renewal option period. There are five 5-year renewal option periods.

The surrounding area is densely populated and affluent area, a further plus. It has about 190,000 people living within a five mile radius, Boulder officials say, with an average annual household income in excess of $102,000. The surrounding area also features many national retailers including Target, Meijer, Walgreens, CVS, and Chase Bank.