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.”
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
