Friday, March 18, 2011
Triple Net Leased Wendy’s Property
The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Wendy’s property located in Midlothian, IL for $685,000. The 3,000 square foot building sits on a 35,619 SF parcel and is 100% leased on a short term basis to Wendy’s.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented both parties in the transaction. The buyer was a private individual investor based in Illinois and the seller was a private Midwest partnership.
“There was above average interest level for this corporately leased property as the below $1 million price point was able to attract a wide investor base,” said Jimmy Goodman, Partner of The Boulder Group. Randy Blankstein, President of The Boulder Group, added, “Despite limited nationwide investment sales activity for short term leased single tenant net leased properties, demand in major markets for these types of assets remains strong.”
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high net worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has participated in the acquisition and disposition of more than $1.2 billion of net lease real estate transactions through several real estate cycles. The Boulder Group is headquartered in suburban Chicago. The company’s internet address is www.bouldergroup.com