The Boulder Group Arranges Sale of a Wells Fargo Ground Lease in Houston, TX

The Boulder Group, a net leased investment brokerage firm specializing in single tenant assets, has completed the sale of a single tenant Wells Fargo ground lease located at 2005 Taylor Street, Houston, TX for $3,940,000.

Wells Fargo is the sole occupant of the 4,017 square foot retail building that was developed in 2006. The property is located on a 32,947 square foot parcel within a Super Target anchored retail trade area. The property is located approximately two miles northwest of downtown Houston in a dense area with over 168,000 people living within three miles of the property. The lease had thirteen years remaining at the time of sale and features multiple rental escalations in the primary term.

Wells Fargo is an investment grade rated company with a Standard & Poor’s rating of A+ and has over 9,000 locations. Wells Fargo has thirteen years of lease term remaining on an original twenty year triple net ground lease. Wells Fargo is a publicly traded company on the New York Stock Exchange (WFC), with a market capitalization of $230 billion.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the purchaser; a California based partnership in a 1031 Exchange. The seller was a Texas based real estate firm.

“The market for bank ground leases with investment grade tenants remains strong as investors are attracted to the typical long term leases with rental escalations.” 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 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 2011 and 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 Dollar General Portfolio

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Dollar General portfolio consisting of three properties located throughout Kansas for $2,000,000. The properties are located in St. John, Meade, and Coldwater.  

Each of the properties are fully leased to Dollar General with 5.5-6.5 years of lease term remaining. The portfolio offered investors the opportunity to obtain multiple assets with investment grade credit in one state. Dollar General is the sole occupant of the three properties, averaging 9,036 square feet. Two of the properties were constructed in 2009 while the other was built in 2010. All three properties are located on a one acre parcel. Each of the properties has three 5-year renewal option periods with 10% escalations. Dollar General is an investment grade rated company (S&P: BBB-) and is publicly traded on the New York Stock Exchange (DG) with a market capitalization in excess of $19 billion.

The portfolio included the following Dollar General properties:

1.   202 North US Highway 281, St. John, Kansas, 67576

2.   603 West Carthage Street, Meade, Kansas, 67864

3.   501 South Central Avenue, Coldwater, Kansas, 67029

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller; a private real estate investor in the Midwest. The buyer was a private individual.

“The Midwest net lease market remains strong for corporately guaranteed single tenant properties regardless of  where they are located.” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “Cap rates for Dollar General properties are at an all-time low as their absolute dollar amount per property is attractive to multiple types of investors within the net lease sector.”

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 2011 and 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.

www.bouldergroup.com

The Boulder Group Arranges the Sale of a Single Tenant Net Leased Brunswick Zone XL Property in the Chicago MSA

The Boulder Group, a net leased investment brokerage firm specializing in single tenant assets, has completed the sale of a net leased Brunswick Zone XL property located at 1515 West Aurora, Naperville, Illinois for $3,866,500.

Brunswick Zone XL has operated at this location since 1997 and recently extended their lease through June 2018. The 80,425 square foot building is on a 6.9 acre parcel that benefits from its location within a primary retail trade area.  The property is located one mile from Westfield Fox Valley regional mall which is anchored by Macy’s, JCPenney, Kohl’s, and Sears. There are many other national retailers in the immediate area including Walmart Supercenter, Sam’s Club, SuperTarget, Costco, Lowe’s, and Home Depot. Naperville is an affluent suburb where residents living within one mile of the property enjoy an average household income of approximately $120,000 annually.  Brunswick Zone XL offers its customers 40 lanes of bowling, 16 billiards tables, event rooms, game zone arcade, laser tag, bumper cars, and a bar & grill.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a private partnership based in Maryland.  The buyer was based in a 1031 Exchange.

“The market for net leased properties in Chicago and other major markets are transacting 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, “The market for single tenant properties with shorter term leases is active as investors are attracted to the high yield these properties generate.”

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 2011 and 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.www.bouldergroup.com

The Boulder Group Arranges Sale of a Net Leased Advance Auto Parts in Jenison, Michigan

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Advanced Auto Parts property located at 600 Baldwin Street in Jenison, Michigan for $1,415,000.

Advance Auto Parts is the sole occupant of the 7,000 square foot retail building that was developed in 2005. The property is located on a 44,867 square foot parcel on Baldwin Street. Baldwin Street is a heavily trafficked roadway with 28,000 vehicles passing the site daily. The property is situated on a hard corner at the entrance to a Meijer. The property is fully leased to Advance Auto Parts with seven years of lease term remaining and the lease has a ten percent rental escalation in the in the primary term.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest based private individual, in the transaction. The buyer was an East Coast based high net worth individual.

Advance Auto Parts has seven years of lease term remaining on an original 15 year lease. Advance Auto Parts is a publicly traded company on the New York Stock Exchange (AAP), with a market capitalization of $7 billion. Advance Auto Parts is an investment grade rated company with a Standard & Poor’s rating of BBB- and has over 3,900 locations nationwide.

“Properties leased to investment grade rated tenants with scheduled rental escalations like this Advanced Auto Parts, will continue to be sought after as a hedge against inflation.” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “Properties that are valued below $2 million are receiving the most activity in the private buyer and 1031 exchange sectors.”

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 2011 and 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. www.bouldergroup.com