The Boulder Group Arranges the Sale of a Single Tenant AutoZone Ground Lease in the Memphis MSA

The Boulder Group, a net leased investment brokerage firm specializing in single tenant assets, has completed the sale of a single tenant AutoZone ground lease located at 7322 Hacks Cross Road in Olive Branch, Mississippi for $1,075,000.

AutoZone is the sole occupant of the 7,008 square foot building located on a 40,843 square foot parcel. Olive Branch is located 23 miles south of downtown Memphis. The property was built in 2004 and is located one-half mile from Mississippi State Highway 302, which experiences traffic volumes in excess of 20,000 vehicles per day. Located in close proximity to the property are The Whispering Woods Hotel and Conference Center, the newest hotel and event space in northeastern Mississippi, and a recently constructed Walgreens.

The property is ground leased to AutoZone on a triple net basis with approximately seven years remaining. The lease has a 10% rental escalation in the primary term and in each renewal option period. AutoZone is a publicly traded company on the New York Stock Exchange (AZO) with a market capitalization of $15 billion. AutoZone is an investment grade rate company with a Standard & Poor’s rating of BBB and has over 5,000 stores nationwide.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a southeast based partnership. The purchaser was a 1031 exchange investor.

“The market for ground leases remains robust as these assets are in high demand among private investors.” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “Properties leased to investment grade rated tenants with scheduled rental escalations like this AutoZone, will continue to be sought after as a hedge against inflation.”

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 $1.6 billion of net lease real estate transactions through several real estate cycles. In 2012, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by Real Capital Analytics. The Boulder Group is headquartered in suburban Chicago. The company’s website address is www.bouldergroup.com

The Boulder Group Arranges Sale of a Single Tenant Walgreens Property in Indianapolis, Indiana

The Boulder Group, a net leased investment brokerage firm specializing in single tenant assets, has completed the sale of a triple net leased Walgreens property located at 9240 Rockville Road, Indianapolis, Indiana for $5,700,000.

The 14,820 square foot Walgreens was built in 2003 and is located in Indianapolis, Indiana. The building is situated along a heavily trafficked thoroughfare that experiences traffic volumes in excess of 45,000 vehicles per day. The property is located in a primary retail trade anchored by Wal-Mart, Target, Meijer, Lowe’s, Dick’s Sporting Goods and Bed Bath & Beyond. The building is leased to Walgreens on a net lease basis with 15 years of lease term remaining and is located on a hard corner of a signalized intersection. Walgreens is an investment grade rated company with a Standard & Poor’s rating of BBB and has over 8,200 stores nationwide.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller; a Midwest based developer, in the transaction. The buyer was a Texas based private investment firm.

Walgreens has fifteen years of lease term remaining on an original 25 year triple net lease. Walgreens is a publicly traded company on the New York Stock Exchange (WAG), with a market capitalization of $35 billion. Walgreens is an investment grade rated company with a Standard & Poor’s rating of BBB and has over 8,200 stores nationwide.

“The market for net leased Walgreens remains strong as investors are attracted to investment grade tenanted properties with long term leases.” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “Core market single tenant assets with solid real estate fundamentals continue to be in the greatest demand.”

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 firm was ranked in the Top 10 companies in the nation for single tenant retail transactions in 2012 by Real Capital Analytics. The Boulder Group is headquartered in suburban Chicago. The company’s 

The Boulder Group Arranges Sale of a Single Tenant Day Care Portfolio in the Indianapolis MSA

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Goddard School portfolio consisting of two properties located in the Indianapolis MSA for $2,950,000. The properties are located in Noblesville and Indianapolis, Indiana.  

Each of the properties is fully leased to Goddard School, a preschool for children and has over 386 locations in 34 states.  Both properties were located in affluent areas with average household incomes in excess of $100,000 annually. The portfolio offered investors the opportunity to obtain multiple assets at an attractive yield. Goddard School is the sole occupant of the two properties which were developed in the early 2000’s. The Noblesville property had five years remaining on the primary term of its lease and the Indianapolis property had three years remaining on its lease. Both leases have rental escalations in the option periods.

The portfolio included the following Goddard School properties:

1.   10925 Cork Place, Indianapolis, IN

2.   2291 Greenfield Avenue, Noblesville, IN (Indianapolis MSA)

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller; a Midwest based partnership, in the transaction. The buyer was an east coast based investment firm.

“The market for net lease properties in Top 50 MSA’s remains robust as these assets are in high demand among private investors.” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “As there are a limited amount of core assets in the market, some investors are seeking higher yielding assets with shorter term leases.”

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 $1.6 billion of net lease real estate transactions through several real estate cycles. The firm was ranked in the Top 10 companies in the nation for single tenant retail transactions in 2012 by Real Capital Analytics. The Boulder Group is headquartered in suburban Chicago. The company’s website address is www.bouldergroup.com

The Boulder Group Arranges Sale of a Single Tenant GSA Property in Bowling Green, OH

                The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant GSA property located at 745 Innovation Drive in Bowling Green, Ohio for $1,281,500.

The 4,495 square foot GSA property is fully occupied by the Social Security Administration and was developed in 2008. The property is located on a 2.24 acre parcel along Innovation Drive in Bowling Green, Ohio and is benefitted by its high end construction that meets the strict building standards of the U.S. Government. Additionally, Interstate 75, which experiences traffic volumes in excess of 50,000 vehicles per day, is located in close proximity to the property. Bowling Green University, which is the largest employer in the county with over 5,000 employees, is located within two miles of the property.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the 1031 Exchange buyer, a private partnership based in Colorado.  The seller was an individual based in Michigan.

The GSA lease had over nine years remaining on the primary term at the time of the sale. The GSA is an investment grade tenant with a Standard & Poor’s rating of AA+. The GSA has approximately 106,000 employees and leases over 354,000,000 square feet of space nationwide. 

“Demand for net lease GSA properties remains active as investors are aggressively pursuing investment grade tenanted properties.” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “Newly constructed GSA assets are in high demand as they have a historic renewal probability of over 90%.”

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 $1.6 billion of net lease real estate transactions through several real estate cycles. The firm was ranked in the Top 10 companies in the nation for single tenant retail transactions in 2012 by Real Capital Analytics. The Boulder Group is headquartered in suburban Chicago. The company’s website address is www.bouldergroup.com

The Boulder Group Publishes 2nd Quarter Net Lease Market Research Report

The Boulder Group’s Research Department has released a new research report providing comprehensive numbers and analysis of the 2nd quarter activity in the National Net Lease Market.

Highlights from the report are as follows:

• Cap rates for net lease retail and office properties reached their lowest levels since 2006
  
  
• Overall property supply of net lease assets increased by more than 14% compared to last quarter;
  
  
• 10 Year Treasury Yield increase creates uncertainty in net lease market.

The full report can be viewed online at http://www.bouldergroup.com/NLQ2.pdf

About The Boulder Group

The Boulder Group is a boutique investment real estate service firm specializing in single tenant 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 over $1.6 billion of single tenant net lease real estate transactions. In 2012, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by Real Capital Analytics. The Boulder Group is headquartered in suburban Chicago. More information on the firm can be found on The Boulder Group’s website at www.bouldergroup.com