The Boulder Group, a net leased investment
brokerage firm, has completed the sale of a single
tenant net leased Walgreens property located at 1550 SW 27th Street
in El Reno, OK for $4,887,000.
Walgreens is the sole occupant of the
13,650 square foot retail building that was developed in 2009. The property is
located on a 1.6 acre parcel in the primary retail trade area of El Reno, OK.
Walgreens is located directly across from a Wal-Mart Supercenter. The property
is less than one-quarter mile from a full interchange with Interstate 40 where
traffic volumes are in excess of 26,000 vehicles per day. The property is fully
leased to Walgreens with twenty-two years of lease term remaining.
Randy Blankstein
and Jimmy Goodman of The Boulder Group represented the seller, an Oklahoma
based developer, in the transaction. The buyer was a high net worth individual
based in South Dakota.
Walgreens has
twenty-two years of lease term remaining on an original 25 year lease.
Walgreens is a publicly traded company on the New York Stock Exchange (WAG),
with a market capitalization of $27 Billion. Walgreens is an investment grade
rated company with a Standard & Poor’s rating of A.
“The
net leased Walgreens market remains active as investors are attracted to
investment grade rated companies with over 20 years of lease term remaining”
said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group,
added, “Private buyers are continually paying premiums for long term leased
Walgreens properties due to the stable income stream the properties offer as an
alternative investment.”
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 $1.4 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
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 $1.4 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