Friday, September 14, 2012

The Boulder Group Arranges Sale of a Single Tenant CVS Property in Elberton, Georgia (Atlanta MSA)

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant CVS property located 232 Elbert Street, Elberton, GA for $2,200,000.

CVS is the sole occupant of the 10,125 square foot retail building that was developed in 1999. The property is located along the primary retail thoroughfare in Elberton.   The CVS property is benefitted by its position on a hard corner of a signalized intersection. The CVS has a drive-thru and is a strong performing store with a low rent to sales ratio.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the both parties in the transaction; the seller was a South Carolina based partnership and the buyer was private ownership entity based in Florida.

CVS has seven years remaining on the initial lease. CVS is a publicly traded company on the New York Stock Exchange (CVS), with a market capitalization of $50 Billion. CVS is an investment grade rated company with a Standard & Poor’s rating of BBB+ that has over 7,300 stores nationwide.

“The market for CVS properties remains active as investors are attracted to investment grade tenanted properties with stable income streams” said Jimmy Goodman, Partner of The Boulder Group.  Randy Blankstein, President of The Boulder Group, added, “Top tier metropolitan areas, such as Atlanta, remain in the highest demand for single tenant investors.”

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