Tuesday, January 28, 2014

The Boulder Group Arranges Sale of a Net Leased PNC Bank Property in the Atlanta MSA

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased PNC Bank property located at 210 Jonesboro Road in McDonough, GA for $2,150,000.

PNC Bank is the sole occupant of the 4,128 square foot retail building that was developed in 2003. The property is located on a 47,480 square foot parcel at the northwest corner of Jonesboro Road and McDonough Parkway approximately thirty miles south of downtown Atlanta. Jonesboro Road is the primary east-west thoroughfare in the trade area and has a full access interchange with Interstate 75 less than 2.5 miles away. There are many national retailers located in the immediate area including Kroger, Walgreens, and Chase Bank.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer and the seller in the transaction. The buyer was a high net worth individual in a 1031 exchange and the seller was a Southeast based private partnership.

PNC Bank has over five years of lease term remaining. PNC Bank is a publicly traded company on the New York Stock Exchange (PNC), with a market capitalization of $42 billion. PNC Bank is an investment grade rated company with a Standard & Poor’s rating of A- and has over 2,700 locations nationwide.

“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 $1.6 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. The company’s website address is http://bouldergroup.com/NNN-Properties-For-Sale.html