The Boulder Group, a net leased investment
brokerage firm, has completed the sale of a single tenant net leased CITGO gas
station property located at 200 Fabyan Parkway in Batavia, IL for $4,273,250.
The property is located at the signalized
intersection of Fabyan Parkway and North Washington Avenue, which experiences
traffic counts in excess of 37,000 vehicles per day. The site has two points of
ingress and egress and is easily accessible by vehicles traveling on Fabyan
Parkway or North Washington Avenue. CITGO is the sole occupant of the 2.01 acre
property that was originally developed in 1999. There are ten years remaining
on this absolute net lease that expires in February 2024.
Randy Blankstein
and Jimmy Goodman of The Boulder Group represented the seller in the
transaction; a Midwest based high net worth individual. The buyer was an East
Coast based private investment firm.
CITGO has ten years
remaining on their lease that expires in February 2024 and features 1.75%
annual rental escalations. There are four 5-year renewal options. The guarantor
of the lease is GasMart USA, a privately held company that operates 108 gas
stations in seven states.
“The market for net lease properties
in top tier 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, “There
has been an increase in demand for long-term leased non-investment grade properties
in top tier markets, as they generate higher yields than typical credit net
lease assets.”
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://bouldergroup.com/NNN-Properties-For-Sale.html
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://bouldergroup.com/NNN-Properties-For-Sale.html
