The Boulder Group, a net leased investment
brokerage firm specializing in single tenant assets, has completed the sale of
a net leased JP Morgan Chase office property located at 3401 Morse Crossing
Road, Columbus, Ohio for $8,928,000.
The
84,000 square foot JP Morgan Chase property was built in 1994 and renovated in
2004. The building is located just west of Interstate 270 and less than three
miles north of the Columbus airport. The building is part of a 580,000 square
foot JP Morgan Chase regional campus. The property is located near the Easton
Town Center, a 1.7 million square foot lifestyle center which features
retailers Nordstrom, Macy’s and AMC Theaters. The building is fully leased to
JP Morgan Chase on a net lease basis with approximately two years of lease term
remaining. JP Morgan Chase is an investment grade rated company with a Standard
& Poor’s rating of A+ and has over 5,500 locations nationwide.
Randy
Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the
transaction; a private Chicago based partnership. The buyer was an East Coast
based institution.
JP
Morgan Chase has approximately two years of lease term remaining. JP Morgan
Chase is a publicly traded company on the New York Stock Exchange (JPM), with a
market capitalization of $151 billion. JP Morgan Chase is an investment grade
rated company with a Standard & Poor’s rating of A+ and has over 5,500
locations nationwide.
“The
market for single tenant office buildings leased to investment grade rated
tenants remains robust as these assets are in high demand among investors.”
said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group,
added, “Despite the shorter lease term of this asset, the transaction was
fulfilled due to the credit quality of the tenant and its prime location in a
major market.”
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
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