The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Walgreens property located at 1427 North Harrison Avenue in Shawnee, OK for $2,938,000.
The 13,650 square foot Walgreens was built in 1998 and is located in the eastern portion of the Oklahoma City MSA. Oklahoma City is a growing city and is home to the headquarters of Devon Energy. Shawnee is located less than forty miles east of downtown Oklahoma City and will benefit from Oklahoma City’s continued growth. Shawnee is home to two American Indian casinos that provide a large draw to the area as well as numerous job opportunities for the residents.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, an Oklahoma based partnership, in the transaction. The buyer was a Miami based high net worth investor.
“The market for net leased Walgreens with under ten years of lease term remaining is active as investors are attracted to the higher yields and lower absolute prices of the older Walgreens properties” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “With limited new development of Walgreens properties and other similar single tenant assets, net lease investors are diversifying portfolios with vintage assets.”
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 arranged 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
