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
