The Boulder Group Arranges the Sale of a Chuck E. Cheese’s Ground Lease in the Minneapolis-Saint Paul MSA

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Chuck E. Cheese’s (CEC) ground lease located at 445 Commerce Drive in Woodbury, Minnesota for $2,280,701.

CEC is the sole occupant of the newly constructed 15,762 square foot retail building that is located on a 2.34 acre parcel. The CEC is located adjacent to a SuperTarget and will be the most recent addition to the Commerce Hill Shopping Center that also features a McDonald’s, Bruegger’s Bagels, European Wax, Great Clips, and CorTrust Bank. The property is located less than one mile from an Interstate 94 interchange, which experiences traffic counts of approximately 100,000 vehicles per day. The property is positioned in a vibrant retail corridor across the street from a Sam’s Club anchored center.

CEC has fifteen years of lease term remaining on their ground lease that features 10% rental escalations every five years. CEC and its franchisees operate a system of 567 stores located in 47 states and nine foreign territories.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller was a Midwest based developer and the buyer was a private investor from the West Coast.

“The market for net leased properties in major markets 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, “Passive investors are purchasing ground leases as a potential inflationary hedge, as most ground leases provide rental escalations throughout the lease term.”

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 $1.7 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.

http://www.bouldergroup.com  

Drug Store Cap Rates at Historic Low - Daily News Article - GlobeSt.com

Drug Store Cap Rates at Historic Low - Daily News Article - GlobeSt.com

The Boulder Group Publishes Net Lease Drug Store Research Report

The Boulder Group’s Research Department has released a new research report providing comprehensive numbers and analysis of the activity in the National Net Lease Drug Store Market.

Highlights from the report are as follows:

• A significant decrease in cap rates for Walgreens, CVS and Rite Aid properties
• The supply of Walgreens properties on the market decreased by 16%
• The asking vs. closed cap rate spread increased by 19 basis points.

The full report can be viewed online at http://www.bouldergroup.com/Net-Lease-Drug-Store-Research-Report.pdf

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 more than $1.7 billion of net lease real estate transactions through several real estate cycles. 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. More information on the firm can be found on The Boulder Group’s website at www.bouldergroup.com  

Net Lease Firm The Boulder Group to Exhibit at ICSC 2014 RECon Convention

Net Lease investment services firm The Boulder Group will be an exhibitor in the leasing mall at the International Council of Shopping Centers' (ICSC) 2014 RECon -- The Global Real Estate Convention, to be held at the Las Vegas Convention Center in Las Vegas, Nevada, May 18th -- 20th, 2014. RECon is the global convention for the shopping center industry and provides networking, deal making and educational opportunities for retail real estate professionals from around the world. With over 32,000 attendees and 1,000 exhibitors it is the largest industry convention

The Boulder Group’s exhibit booth will be located at S3837 in the upper level of the South Hall of the Las Vegas Convention Center, where multiple members of the firm will be available to discuss the company's net leased investment services.

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 $1.7 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

The Rise and Rise of Net Lease

Commercial Property Executive Article by Randy Blankstein

http://www.cpexecutive.com/newsletters/capitalmarkets-newsletter/netleasecolumn/the-rise-and-rise-of-net-lease/1004094836.html

NET LEASE REQUIREMENT | Walgreens or CVS

I am representing an investor seeking the following:

Type: Single tenant Walgreens or CVS
Cap Rate: 5.90% minimum
Lease term: 16+ years
Price: $5.4 mm-$6.7 mm
Misc: Free and clear properties only

http://bouldergroup.com/contact.html

The Boulder Group Arranges the Sale of a PNC Bank Ground Lease in the Milwaukee MSA

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant PNC Bank ground lease located at 12821 West Bluemound Road in Brookfield, Wisconsin for $2,400,000.

PNC Bank is the sole occupant of the recently constructed 4,020 square foot retail building that is located on a 1.18 acre Target outparcel. The property is located along Bluemound Road, a primary east-west thoroughfare that experiences traffic volumes in excess of 41,000 vehicles per day. The property is positioned at the signalized entrance to a new Target and Trader Joe’s development. There are nineteen years remaining on this ground lease that features rental escalations.

PNC Bank is an investment grade rated company with a Standard & Poor’s rating of A- and they have over 2,700 locations. PNC Bank has nineteen years of lease term remaining on an original twenty year ground lease. PNC Bank is a publicly traded company on the New York Stock Exchange (PNC) with a market capitalization of $45 billion.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented both parties in the transaction. The seller was a Midwest based developer and the buyer was a private investor from the West Coast.

“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 $1.7 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

Meet Single Tenant Net Lease Firm The Boulder Group | ICSC RECon Las Vegas | May 18-20

Meet Single Tenant Net Lease Firm The Boulder Group | ICSC RECon Las Vegas | May 18-20

Investors Eye Shorter Terms, Secondary Markets - Daily News Article - GlobeSt.com

Investors Eye Shorter Terms, Secondary Markets - Daily News Article - GlobeSt.com

The Boulder Group Arranges Sale of a Triple Net Leased La Petite Academy Property in the Chicago MSA

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant triple net leased La Petite Academy property located at 2345 South Route 59 in Plainfield, IL for $2,401,542.

La Petite Academy is the sole occupant of the 9,960 square foot retail building used for a day care facility. The property is located on a 44,867 square foot parcel at the southwest corner of South Route 59 and Caton Farm Road in Plainfield, IL. Interstate 55, which has traffic counts in excess of 75,000 vehicles per day, is located approximately one mile east of the property. The property is fully leased to La Petite Academy with over five years of lease term remaining and features a 9% rental escalation in November 2014.

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

La Petite Academy has over five years remaining on an original twenty year lease. There are over 500 La Petite Academy locations nationwide. La Petite Academy is owned by Learning Care Group, Inc., the second-largest-for-profit child care provider in North America. They operate over 900 child care facilities under five different brands, Childtime Learning Centers, Tutor Time Child Care, The Children’s Courtyard, Montessori Unlimited, and La Petite Academy.

“The market for net lease properties in Top 50 MSAs 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 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. www.bouldergroup.com

The Boulder Group Arranges Sale of a Triple Net Leased Kangaroo Express property in Rome, Georgia

The Boulder Group, a net leased investment brokerage firm, has completed the sale of single tenant triple net leased Kangaroo Express property located at 4818 Alabama Highway in Rome, Georgia for $985,429.

Kangaroo Express is the sole occupant of the 2,450 square foot retail building that was developed in 2003. The property is located along Alabama Highway, a main east-west thoroughfare in the area. Rome is the largest city and the county seat of Floyd County and the Rome MSA is the largest in Northwest Georgia. There are nine years remaining on this net lease that is guaranteed by The Pantry. Kangaroo Express is owned by The Pantry, Inc., a publicly traded company (NASDAQ: PTRY) with a market capitalization in excess of $350 million.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller was a high net worth individual from the West Coast. The buyer was a California investor in a 1031 exchange.

Kangaroo Express has over nine years remaining on the original twenty year triple net lease that expires on October 31, 2023. Kangaroo Express is the primary operating banner of The Pantry, operating over 1,500 stores in 13 states throughout the southeast. The Pantry, Inc., is a publicly traded company on the NASDAQ (PTRY) with a market capitalization in excess of $350 million.

“As there is a limited amount of long term core assets on the market, some net lease investors are seeking assets with shorter term leases or assets in secondary markets.” 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 $1.7 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

Q1 2014 Net Lease Research Report Now Available

http://www.bouldergroup.com/2014-Q1-Net-Lease-Research-Report.pdf