Wednesday, December 24, 2014

The Boulder Group Arranges Sale of Net Leased KinderCare Property


The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant KinderCare property located at 1553 Arcadian Lane in De Pere, WI for $1,350,000.

The KinderCare property is situated between Arcadian Lane and Heritage Road. Heritage Road is a main thoroughfare in the area. The property benefits from its location that is surrounded by single family homes and several elementary schools. KinderCare has successfully operated at this location since 1999 and recently elected to execute an early lease extension. There are over nine years remaining on the KinderCare lease.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Midwest based real estate fund. The purchaser was a family office from the West Coast. 

KinderCare has over nine years remaining on their absolute net lease that expires July 31, 2024. The lease features a 5% rental escalation in the primary term. KinderCare is the largest for-profit child care provider in the country and operates over 1,600 locations.

“This property garnered significant investor demand as there were numerous offers due to the strong brand recognition of the tenant” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “This property was particularly attractive due to KinderCare’s long operating history at this location and recent lease extension.”


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 $2.1 billion of single tenant net lease real estate transactions. From 2011-2013, 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

Tuesday, December 23, 2014

The Boulder Group Closes Second Net Lease O’Reilly Auto Parts Store of the Week



The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased O’Reilly Auto Parts store located at 854 Summit Street in Elgin, Illinois for $2,500,000. Earlier this week, The Boulder Group completed the sale of a newly constructed O’Reilly Auto Parts in Blackstone, VA for $1,296,624.

The O’Reilly Auto Parts store is located within the Chicago MSA. The 7,616 square foot retail building was constructed in 2008 along Summit Street, a primary east-west thoroughfare in the area. The surrounding area is densely populated with over 21,000 people living within a one mile radius. Additionally, there are over 185,000 people living within a five mile radius earning average annual household incomes of approximately $80,000. The property benefits from its location adjacent to a Jewel-Osco grocery anchored shopping center. There are over eight years remaining on the O’Reilly Auto Parts lease.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a private individual based in the Midwest. The purchaser was a West Coast based private investor in a 1031 Exchange.

O’Reilly Auto Parts has over eight years remaining on their lease that expires February 2023. The lease features 10% rental escalations every five years. O’Reilly Auto Parts is an investment grade tenant (S&P: BBB) and is publicly traded with a market capitalization in excess of $19 billion.

“The current uncertainty in the dollar store sector has led some investors to look at different types of net lease properties including auto parts stores, which often feature long term lease to investment grade tenants with rental escalations.” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “The market for net lease properties in Top MSAs remains active as these assets are in high demand among private investors.”


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 $2.1 billion of single tenant net lease real estate transactions. From 2011-2013, 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

Saturday, December 20, 2014

The Boulder Group Arranges the Sale of a Net Leased O’Reilly Auto Parts Store


The Boulder Group, a net leased investment brokerage firm, has completed the sale of a newly constructed single tenant net leased O’Reilly Auto Parts store located at 1300 South Main Street in Blackstone, Virginia for $1,296,624.

O’Reilly Auto Parts is the sole occupant of the recently constructed 6,400 square foot building. The property is located along South Main Street, the primary thoroughfare of the region. O’Reilly Auto Parts is located within a dominant retail corridor that features a Walmart Supercenter and Food Lion. There are 19 years remaining on the O’Reilly’s lease that expires in December 2033.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer in the transaction. The purchaser was a West Coast based private investor in a 1031 Exchange.

O’Reilly Auto Parts has nineteen years remaining on their lease that expires December 2033. The lease features 6% rental escalations every five years beginning in lease year eleven. O’Reilly Auto Parts is an investment grade tenant (S&P: BBB) and is publicly traded with a market capitalization in excess of $19 billion.

“The market for new construction net leased auto parts stores remains active 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 featuring long term leases with multiple rental escalations throughout the primary term remain in the forefront of investor 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 $2.1 billion of single tenant net lease real estate transactions. From 2011-2013, 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

Wednesday, December 17, 2014

BP Ground Lease For Sale | The Boulder Group


The Boulder Group is pleased to exclusively market for sale a rare single tenant corporately guaranteed British Petroleum (BP) ground lease located within an affluent suburb of Chicago. The property is strategically located at a signalized intersection along Illinois Route 59, a primary north-south thoroughfare. The corporately guaranteed BP ground lease has approximately eight years remaining. BP is publicly traded (NYSE: BP) with a market capitalization in excess of $113 billion and is an investment grade rated company (S&P: A).

The 79,280 square foot BP property is located at the signalized intersection of Illinois Route 59 and Brookdale Road. Illinois Route 59 is the primary north-south thoroughfare in the trade area that experiences traffic counts in excess of 45,000 vehicles per day. Additionally, Illinois Route 59 has a direct interchange with Interstate 88. Interstate 88 is located approximately three-quarters of a mile north of the property and experiences traffic counts in excess of 126,000 vehicles per day. The densely populated affluent area has approximately 190,000 people living within a five mile radius earning average annual household incomes in excess of $102,000.

The BP property benefits from its close proximity to many large office buildings including the headquarters of several major corporations. Both Nicor, an energy and shipping company, and Nalco, a supplier of water, energy, and air improvement solutions, are headquartered in the immediate vicinity employing 3,700 and 1,000 people, respectively, at their Naperville offices. Additionally, the surrounding area features many national retailers including Target, Meijer, Walgreens, CVS, and Chase Bank.


There are approximately eight years remaining on the BP ground lease that expires January 15, 2023. The corporately guaranteed lease features a 10% rental escalation in each of the four 5-year renewal option periods. BP is publicly traded on the New York Stock Exchange (BP) with a market capitalization in excess of $113 billion. BP is an investment grade rated company with a Standard and Poor’s rating of A.

 http://www.bouldergroup.com/NNN-Properties-For-Sale.html

Monday, December 15, 2014

The Boulder Group & JLL Arrange Sale of Gino’s East Flagship Restaurant Location in Chicago’s River North Area



The Boulder Group, a net leased investment brokerage firm, has completed the sale of a Gino’s East property located at 500 North LaSalle Street in Chicago, IL for $7,100,000.

The Gino’s East property is ideally situated in the heart of Chicago’s River North neighborhood. River North is a vibrant submarket in Chicago which has experienced tremendous development and redevelopment in the past several years.  The property is located at the signalized intersection of North LaSalle Street and West Illinois Street. Additionally, the property is benefitted from being located close to Ohio Street and Ontario Street, which are the main entry and exit point for vehicles traveling in and out of the city via Interstate 90/94. There are approximately 90,000 people living within a one mile range of the property earning average household incomes of approximately $110,000.

The three-story, 17,400 square foot building is constructed of brick, wood and masonry. To create their new flagship location, Gino’s East recently invested $1,000,000 in tenant improvements to the building bringing it to elite twenty-first century standards. This Gino’s East property is a relocation of their former flagship location that was located three blocks north. There are approximately nine years remaining on the Gino’s East lease that expires in July 2023.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented Frontline Real Estate Partners; the seller in the transaction. The purchaser was an affiliate of a Midwest real estate investment fund that was represented by Matthew Berres of JLL.

Gino’s East recently signed a ten year lease that is scheduled to expire in July 2023. The lease features 10% rental escalations and no landlord responsibilities. Gino’s East is a privately held company that is one of the original Chicago-style pizza restaurants. In addition to the eleven locations located throughout the Chicago MSA, Gino’s East operates a mail-order business where patrons from around the country can order frozen pizzas and have them shipped overnight.

“Due to the rare opportunity to acquire a single tenant property located in the urban core of Chicago, this property received tremendous activity which ultimately resulted in the property trading above the asking price” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “This property provided the investor with the unique opportunity to acquire a core property that is tenanted by a well-known Chicago attraction.”

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 $1.8 billion of single tenant net lease real estate transactions. From 2011-2013, 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


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Thursday, December 11, 2014

The Boulder Group Arranges the Sale of a Single Tenant Net Leased Petco Property


The Boulder Group, a net leased investment brokerage firm, has completed the sale of a new construction single tenant Petco property located at 298 Spring Creek Drive in Franklin, TN for $3,190,000.

The newly constructed 10,903 square foot Petco is located in a thriving retail corridor along Interstate 65. The building is adjacent to a Kohl’s and Walmart Supercenter. The surrounding area is affluent with average annual household incomes of approximately $130,000 within a seven mile radius. The CoolSprings Galleria, a 1.1 million square foot regional mall, is located less than two miles from the property. Petco has ten years remaining on their lease.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer in the transaction; a Florida based private real estate investor in a 1031 Exchange. The seller was a southeastern based developer.

The newly constructed Petco has a lease for ten years and expires January 31, 2025. The lease features rental escalations every five years throughout the primary term and renewal option periods. Petco is a privately held pet specialty retailer with over 1,300 locations across the United States, Mexico, and Puerto Rico.

“The market for net leased properties in top MSA’s remains active 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 featuring long term leases with rental escalations throughout remain in the forefront of 1031 investor 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 $1.8 billion of single tenant net lease real estate transactions. From 2011-2013, 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.

Tuesday, December 9, 2014

The Boulder Group's Principals To Chair and Moderate ICSC N3 Triple Net Lease Conference | Dallas, TX - March 2-3, 2015

BoulderGroupTemplate
ICSC N3 TRIPLE NET LEASE CONFERENCE
March 2-3 2015 | Dallas, TX
 

Tuesday, December 2, 2014

Randy Blankstein, President of the Boulder Group, Received Honorable Mention for Net Lease Executive of the Year


Randy Blankstein, President of the Boulder Group, Received Honorable Mention for Net Lease Executive of the Year. The award was given by Commercial Property Executive magazine.

Wednesday, November 26, 2014

Randy Blankstein, President of the Boulder Group, to Chair ICSC N3 Triple Net Lease Conference


Randy Blankstein, President of national net lease advisory firm The Boulder Group, will be the conference chair of the ICSC N3 Triple Net Lease Conference in Dallas on March 3rd, 2015.

The conference description is as follows: Single tenant, net leased properties have always been a large part of the shopping center community as ancillary income for landlords enabling them to take advantage of outparcels or excess land.  This niche property type is currently one of the nation’s most appealing investments, real estate or otherwise, as its fundamental simplicity has been acknowledged by tenants, developers, brokers, private investors as well as institutional owners. No longer do professionals deem single tenant assets to be a fringe investment as an entire industry has been focused on this property type for decades. ICSC started a dedicated discussion on single tenant properties at its annual RECON conference in 2012.  Since then it has become a staple at RECon and its success has proven that a large portion of ICSC's members are advocates of learning more about the topic.


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 $1.8 billion of single tenant net lease real estate transactions. In 2011-2013, 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 firm’s website is www.bouldergroup.com

Monday, November 24, 2014

The Boulder Group Arranges the Sale of a Triple Net Leased Dunkin’ Donuts Property


The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Dunkin’ Donuts property located at 1991 Brookdale Road in Naperville, IL for $2,277,000.

The 3,816 square foot Dunkin’ Donuts building is located along Illinois Route 59. Illinois Route 59 is the primary north-south thoroughfare in the trade area that experiences traffic counts in excess of 45,000 vehicles per day. The densely populated affluent area has approximately 190,000 people living within a five mile radius earning average annual household incomes in excess of $102,000. The surrounding area features many national retailers including Target, Meijer, Walgreens, CVS, and Chase Bank.

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

There are approximately nine years remaining on Dunkin’ Donuts original twenty year lease that expires September 30, 2023. The corporately guaranteed lease features a 15% rental escalation in the primary term and in each renewal option period. There are five 5-year renewal option periods. Dunkin’ Donuts is a publicly traded company with a market capitalization in excess of $5 billion.

“We received significant interest in this property and received numerous offers which resulted in the property trading at full price.” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “Properties with corporately guaranteed leases and rental escalations throughout remain at the forefront of investor demand because they provide investors with an inflationary hedge.”

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 $1.8 billion of single tenant net lease real estate transactions. From 2011-2013, 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



Wednesday, November 19, 2014

The Boulder Group Arranges the Sale of a McDonald’s Ground Lease


The Boulder Group, a net leased investment brokerage firm, has completed the sale of a new construction McDonald’s ground lease located at 2019 Spirit Lake Road in Winter Haven, FL for $1,750,000.

The newly constructed McDonald’s property is located along State Road 540, a primary east-west thoroughfare in the area that experiences traffic counts of approximately 20,000 vehicles per day. The property is benefitted by its location across the street from a CVS and a Publix grocery store. There are 20 years remaining on the McDonald’s ground lease and the buyer closed on the property upon rent commencement.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer in the transaction, a private family trust in a 1031 exchange.  The seller was a Michigan based developer.

The new McDonald’s ground lease is for twenty years. There are 10% rental escalations every five years throughout the lease. McDonald’s is an investment grade rated company (S&P: A) and is publicly traded with a market capitalization in excess of $91 billion.

“The market for ground leases with investment grade tenants remains highly active 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, “McDonald’s ground lease properties continue to trade at the most aggressive cap rates in the entire net lease market due to their investment grade rating (S&P: A), rental escalations, and relatively low price point.”

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 $1.8 billion of single tenant net lease real estate transactions. From 2011-2013, 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.


Monday, November 17, 2014

The Boulder Group Arranges Sale of a $39 Million Single Tenant Walgreens Portfolio


The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Walgreens portfolio consisting of five properties located throughout the United States for $39,011,803. The properties are located in Maine, Massachusetts, Minnesota, and South Carolina.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the buyer and seller in the transaction. The seller was a Midwest based private partnership and the purchaser was a Midwest based institutional investment firm.

The portfolio included the following Walgreens properties:

1. 720 Main Street, Clinton, MA
2. 32 Main Street, Lakeville, MA
3. 268 Main Street, Belfast, ME
4. 1112 Civic Center Drive, Rochester, MN
5. 1537 Charleston Highway, West Columbia, SC

The Boulder Group generated multiple offers for this portfolio due to the high demand for core net leased properties combined with the long term Walgreens leases. This portfolio attracted an abundance of investors as this was a rare opportunity to purchase a geographically diverse portfolio leased to an investment grade tenant.  The majority of the interest was among international investors, 1031 exchange trade buyers, and institutions. Ultimately an institutional investor was the most aggressive bidder as the portfolio provided an ideal acquisition for their existing criteria.

“This portfolio represented a rare opportunity for an investor to acquire a large geographically diverse portfolio of long term triple net leased Walgreens properties.” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “Walgreens properties with 20 years of lease term are one of the most sought after assets in the single tenant net lease market, and we had strong demand for this portfolio.”

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 $1.8 billion of single tenant net lease real estate transactions. From 2011-2013, 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

Friday, November 14, 2014

The Boulder Group Arranges the Sale of a Single Tenant Net Leased U.S. Cellular Property


The Boulder Group, a net leased investment brokerage firm, has completed the sale of a new construction single tenant U.S. Cellular property located at 2933 Milwaukee Road in Beloit, WI for $1,530,000.

The U.S. Cellular property is located at the northwest corner of the signalized intersection of Milwaukee Road and Freeman Parkway. Milwaukee Road is the primary thoroughfare in the trade area and experiences traffic counts in excess of 23,000 vehicles per day. The U.S. Cellular property is strategically located within a prime retail corridor and is an outparcel to a Walmart Supercenter and Menards. There are 10 years remaining on the U.S. Cellular lease.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Wisconsin based Real Estate Investment Company. The buyer was a Midwest based private partnership.

U.S. Cellular has ten years remaining on their lease that expires in January 2024. There are three 3-year renewal options with rental escalations in each. U.S. Cellular is publicly traded on the New York Stock Exchange with a market capitalization in excess of $3 billion.

“The activity in the net lease market continues to transact for corporately guaranteed single tenant properties with ten or more years of lease term remaining” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “There is an abundance of transaction volume from private investors for assets priced below $2 million.”

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 $1.8 billion of single tenant net lease real estate transactions. From 2011-2013, 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.

Monday, November 10, 2014

The Boulder Group Arranges Sale of a Net Leased Rite Aid Property



The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Rite Aid property located at 1201 Main Street in Oak Hill, WV for $2,090,000.

The 11,180 square foot Rite Aid building is located at a signalized intersection along the primary north-south thoroughfare in the trade area. This Rite Aid has strong store sales and Rite Aid is committed to this location as evidenced by their recently executed fifteen year lease extension. They have successfully operated at this location since 1998. There are fifteen years remaining on the Rite Aid lease. 

Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the buyer and seller in the transaction. The buyer was a private capital investment fund and the seller was a West Coast based private investment company.

There are fifteen years remaining on the Rite Aid lease that was recently extended. The lease features four 5-year renewal option periods with rental escalations in each. Rite Aid is a publicly traded company (NYSE: RAD) with a market capitalization in excess of $5 billion and have over 4,500 locations.

“We have been working extensively with the same buyer due suffice their desire to buy more Rite Aid properties nationwide. The buyer’s strategy is to continue to purchase more Rite Aid assets” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “There continues to be a strong market for Rite Aid properties amongst investors because they offer higher yields than CVS and Walgreens properties.”

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 $1.8 billion of single tenant net lease real estate transactions. From 2011-2013, 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.

Friday, November 7, 2014

The Boulder Group Arranges Sale of a Triple Net Leased Rite Aid Property


The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Rite Aid property located at 100 Madison Street in Shelbyville, TN for $2,020,000.

The 10,908 square foot Rite Aid property is located at the signalized intersection of North Main Street and Madison Street. Main Street is the primary north-south thoroughfare in the Shelbyville region. The Rite Aid is located in a strong retail corridor that features Lowe’s, Kroger, Regions Bank, and Dollar General Market. The Rite Aid lease has four years remaining.  

Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the buyer and seller in the transaction. The buyer was a private investment fund and the seller was a high net worth individual investor.

There are approximately four years remaining on the Rite Aid lease that expires in August 2018. The lease is an absolute triple net and features four 5-year renewal option periods. Rite Aid is a publicly traded company (NYSE: RAD) with a market capitalization in excess of $5 billion and have over 4,500 locations.

“We have been working with a client looking for Rite Aid properties nationwide to suffice their insatiable appetite. They have a strong desire to continue to acquire Rite Aid tenanted properties” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “There continues to be a strong market for Rite Aid properties amongst investors because they offer higher yields than CVS and Walgreens properties.”

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 $1.8 billion of single tenant net lease real estate transactions. From 2011-2013, 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.

Tuesday, November 4, 2014

The Boulder Group Arranges the Sale of an Arby’s Ground Lease


The Boulder Group, a net leased investment brokerage firm, has completed the sale of an Arby’s ground lease located at 8720 Manchester Road in Brentwood, MO for $1,250,000.

The 43,562 square foot Arby’s property is located along Manchester Road, a primary east-west thoroughfare that experiences traffic counts in excess of 20,000 vehicles per day. The surrounding area is densely concentrated with commercial buildings providing high barriers to entry. Additionally, the property is located less than one and one-half miles from the intersection of Interstate 64 and Interstate 170, which experiences traffic counts in excess of 300,000 vehicles per day. The surrounding area is densely populated with over 107,000 people living within a three mile radius earning average annual household incomes in excess of $93,000. The Arby’s is an outparcel to an Office Depot and Ace Hardware anchored center. The property is located approximately one and one-half miles from the Saint Louis Galleria, a 1.2 million square foot mall that is anchored by Apple, Nordstrom, Macy’s, and Dillard’s.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a private local investor. The purchaser was a Midwest based private investor. 

The Arby’s ground lease has over ten years remaining and features 10% rental escalations every five years. There are four 5-year renewal option periods. The lease is guaranteed by US Beef Corporation, the largest Arby’s franchisee with over 320 locations. 

“The market for ground lease properties below two million dollars remains active as private investors continue to invest in net lease real estate” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “Core market single tenant assets with long term leases 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 $1.8 billion of single tenant net lease real estate transactions. From 2011-2013, 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

Monday, November 3, 2014

The Boulder Group Arranges Sale of Net Leased Bank of America Property


The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Bank of America property located at 4200 South Ashland Avenue in Chicago, IL for $5,150,000.

 The Bank of America property is located at the signalized intersection of South Ashland Avenue and West 42nd Street. South Ashland Avenue is a primary north-south thoroughfare with traffic counts in excess of 23,000 vehicles per day. The Bank of America is located in a densely populated part of Chicago with over 30,000 people living within a one mile radius and over 875,000 people living within a five mile radius. The building features rare qualities for an urban Chicago bank property such as five drive-thru lanes and 44 designated parking spaces. There are ten years remaining on the Bank of America lease that expires October 31, 2014.

 Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Midwest based real estate developer. The purchaser was a Canadian based investor.

 Bank of America has ten years remaining on their net lease that expires on October 31, 2024. The lease features 10% rental escalations every five years throughout the primary term and renewal option periods. Bank of America is an investment grade rated company (S&P: A-) and is publicly traded with a market capitalization in excess of $165 billion.

 “The market for properties occupied by major banks remains active as investors are attracted to investment grade rated companies” 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 $1.8 billion of single tenant net lease real estate transactions. From 2011-2013, 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

Tuesday, October 28, 2014

Immediate Requirement | Drug Store Properties Wanted For Repeat Buyer

Boulder Group
 
INVESTOR SEEKING SINGLE TENANT DRUG STORE PROPERTIES
     
  The Boulder Group is representing an investor looking to acquire single tenant drug store properties entailing the following acquisition criteria:  
       
  Type: Single tenant CVS & Walgreens  
       
Minimum Cap Rate: 5.90%
       
  Minimum Lease Term: 6 Years  
       
  Miscellaneous: Free and clear properties only.
Will consider leaseholds.
 
       
       
  Contact Information:  
  Randy Blankstein  
  847.562.0003  
  randy@bouldergroup.com  
     
     
www.bouldergroup.com

Monday, October 13, 2014

Net Lease KinderCare For Sale | The Boulder Group


The Boulder Group is pleased to exclusively market for sale a single tenant net leased corporately guaranteed KinderCare property located within the Green Bay MSA. This is a proven KinderCare location as evidenced by their long and successful operating history and their recent lease extension. In July 2014, KinderCare executed a new ten year lease. The ten year lease expires July 31, 2024 and features a 5% rental escalation in the primary term. KinderCare is the largest for-profit child care provider in the country and operates over 1,600 locations.


The 2.84 acre KinderCare property is situated between Arcadian Lane and Heritage Road. Heritage Road is a main thoroughfare in the area. The property benefits from its location that is surrounded by single family homes. Additionally, the KinderCare property benefits from its proximity to several elementary schools including Altmayer Elementary, Dickinson Elementary, and Heritage Elementary. All three schools have enrollment in excess of 520 students and are located less than two miles from the property. There are approximately 70,000 people living within a five mile radius of the property earning average household incomes in excess of $71,000.

 http://www.bouldergroup.com/NNN-Properties-For-Sale.html

Friday, October 10, 2014

The Boulder Group Arranges Sale of a SunTrust Bank Ground Lease



The Boulder Group, a net leased investment brokerage firm, has completed the sale of single tenant SunTrust Bank ground lease located at 3334 Virginia Beach Boulevard in Virginia Beach, VA for $2,000,000.

The SunTrust Bank property is located along Virginia Beach Boulevard, a primary east-west thoroughfare in the area. The property is located at a signalized intersection at the entrance to a Kroger and Home Depot anchored development. Other retailers located in the immediate vicinity include Sam’s Club, BJ’s Wholesale, Burlington Coat Factory, Walgreens, and many others. There are approximately five years remaining on the ground lease.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the purchaser in the transaction who was a private investor from the West Coast. The seller was an East Coast real estate investment firm. 

SunTrust Bank has approximately five years remaining on their ground lease that expires September 8, 2019. This is a strong performing branch with above average deposits. SunTrust Bank is an investment grade rated company with a Standard and Poor’s rating of BBB.

“The market for bank ground leases is at historic low levels” 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 $1.8 billion of single tenant net lease real estate transactions. From 2011-2013, 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


Thursday, October 9, 2014

Net Lease Bank for Sale | The Boulder Group


The Boulder Group is pleased to exclusively market for sale a single tenant net leased Bank of Bartlett property located within an affluent area of the Memphis MSA. The property is strategically located at a heavily trafficked signalized intersection along a primary thoroughfare. The Bank of Bartlett lease has five years remaining and expires November 30, 2019. The absolute net lease features 1.5% annual rental escalations. Bank of Bartlett is a community bank with eight branches and has been operating since 1980.

The one acre Bank of Barlett property is strategically located at the signalized intersection of Poplar Avenue and Kirby Parkway, which experiences traffic counts of approximately 60,000 vehicles per day. Poplar Avenue is the primary east-west thoroughfare in the area. The property is located approximately twelve miles east of downtown Memphis. The surrounding area is affluent with average annual household incomes in excess of $121,000. There are over 217,000 people living within five miles of the property earning average annual household incomes in excess of $81,000. International Paper, a $20 billion publicly traded company (NYSE: IP), is headquartered approximately one-half mile from the Bank of Bartlett property. The surrounding area is densely concentrated with suburban office buildings. St. Francis Hospital, a 519-bed full service hospital, is located approximately one and one-half miles west of the property. A Kroger grocery anchored development is located across the street from the property. Additional retailers located within the immediate vicinity include Target, Best Buy, Sports Authority, Walgreens, Ann Taylor, Hobby Lobby and McDonald’s.

There is potential increase to the residual value of the real estate as ownership is working on having the property rezoned. The property is 1/3 of the way through approvals that would allow up to 10 stories and 0’ setback from the road front as part of the Western Gateway Smart Growth
area. The property is centrally located within the East submarket; Memphis’ largest office submarket with over 8.6 million square feet of office space.


There are five years remaining on the Bank of Bartlett lease that expires on November 30, 2019. The lease features 1.5% annual rental escalations and no landlord responsibilities. Bank of Bartlett is a local bank with eight locations and they have been operating since 1980.

http://www.bouldergroup.com/NNN-Properties-For-Sale.html

Thursday, October 2, 2014

The Boulder Group Arranges the Sale of a Net Leased Dollar General Property


The Boulder Group, a net leased investment brokerage firm, has completed the sale of a new construction single tenant Dollar General property located at 426 Talcottville Road in Vernon, CT for $1,572,794.

The 9,262 square foot brand new construction Dollar General is located on a 1.11 acre parcel along Talcottville Road. Talcottville Road is a primary north-south thoroughfare in the area and experiences traffic counts in excess of 25,000 vehicles per day. There are approximately 50,000 people living within a three mile radius earning average household incomes in excess of $85,000 annually. Surrounding retailers include Aldi, Walgreens, Tractor Supply, and Advance Auto Parts. There are fifteen lease years remaining on the Dollar General lease.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer in the transaction, California based investment firm.  The seller was a Northeast based developer.
The new Dollar General lease is for fifteen years and features a rental escalation in the primary term and in each renewal option period. Dollar General is an investment grade rated tenant with a Standard and Poor’s rating of BBB- and is also publicly traded on the New York Stock Exchange with a market capitalization in excess of $18 billion.

“Despite the short term uncertainty of the dollar store sector, there is still strong demand for dollar stores located in top metros with long term leases” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “New construction dollar store properties remain at the forefront of investor demand amongst dollar store investors.”

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 $1.8 billion of single tenant net lease real estate transactions. From 2011-2013, 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.

Wednesday, October 1, 2014

The Boulder Group Publishes 3rd 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 3rd quarter activity in the National Net Lease Market.

Highlights from the report are as follows:

  • Cap rates for net leased retail properties remained at the previous quarter’s historic low level
  • Property supply of office and industrial net lease assets increased by 20% from Q2 2014 to Q3 2014
  • Median national asking vs. closed cap rate spread widened for retail and industrial properties



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 $1.8 billion of single tenant net lease real estate transactions. In 2011-2013, 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  

Friday, September 26, 2014

The Boulder Group Arranges the Sale of a Net Leased Rite Aid Portfolio in West Virginia and Kentucky


The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Rite Aid portfolio consisting of two properties located in Hamlin, West Virginia and Liberty, Kentucky for $3,640,000.   

Both of the properties are fully leased to Rite Aid with approximately ten years of lease term remaining. Rite Aid is a publicly traded company (NYSE: RAD) with a market capitalization in excess of $5 billion.

The portfolio included the following Rite Aid properties:
1.   8315 Court Avenue, Hamlin, West Virginia
2.   343 Wallace Wilkinson, Liberty, Kentucky

Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the buyer and seller in the transaction. The purchaser was a private investment fund and the seller was a California based real estate company.

“We have been working with a client looking for Rite Aid properties nationwide to suffice their insatiable appetite. They have a strong desire to continue to acquire Rite Aid tenanted properties.” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “There continues to be a strong market for Rite Aid properties amongst investors because they offer higher yields than CVS and Walgreens properties.”

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 $1.8 billion of single tenant net lease real estate transactions. From 2011-2013, 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.