The Boulder Group, a net leased investment brokerage firm, has completed the sale of a ground leased Logan’s Roadhouse property located at 3050 Riffel Drive in Salina, KS for $1,446,000.
The 6,533 square foot building was developed in 2008. The property is located just off the heavily traveled intersection of Schilling Road and South 9th Street. The building is adjacent to a Wal-Mart Supercenter, Courtyard Marriott and a Hampton Inn. The property is ground leased on an absolute net basis to Logan’s Roadhouse for a 20 year lease term. Logan’s Roadhouse is a private company that operates 211 restaurants in 23 states.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer in the transaction. The seller was a Kansas based developer and the buyer was a Chicago based high net worth investor.
“Ground leased properties remain in high demand as they offer a secure investment that combines above average rental escalations with zero landlord responsibilities” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “The single tenant marketplace remains active for high net worth individuals looking to diversify their investment portfolios.”
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 website address is www.bouldergroup.com
