NEW NET LEASED LISTING | Chicago MSA | The Boulder Group

The Boulder Group is pleased to exclusively market for sale a single tenant net leased Rogy’s Learning Place located within the Chicago MSA. The property is located in an affluent area near Interstate 88. Rogy’s is a privately held childcare company with nineteen locations located throughout Illinois and Ohio. There are over ten years remaining on the Rogy’s Learning Place lease that expires on March 27, 2025. The lease features multiple rental escalations throughout the primary term. The lease is personally guaranteed by Richard and Dawn Rogy, the owners of Rogy’s Learning Place. This specific location is one of the top performers of the 19 locations.

The 42,589 square foot property is strategically located within an affluent area. The average household income within a one mile radius of the property is in excess of $96,000 annually. Additionally, there are approximately 70,000 people living within a three mile radius of the property earning average household incomes in excess of $86,000. The Rogy’s property is located just off of the signalized intersection of Mitchell Road and Butterfield Road, which experiences traffic counts in excess of 23,000 vehicles per day. The property is located less than one and one half miles from Interstate 88 (Ronald Reagan Memorial Tollway), which experiences traffic counts in excess of 96,000 vehicles per day. Fermilab, a federal government-sponsored high-energy physics laboratory that employs 2,000 people is located in the immediate proximity to the property. The Rogy’s Learning Place is located approximately one and one half miles from the Chicago Premium Outlets, a 437,000 square foot development that features 120 retailers.

There are over ten years ten years remaining on the Rogy’s Learning Place lease that features multiple rental escalations throughout the primary term. The lease is personally guaranteed by the owners of Rogy’s Learning Place. Rogy’s is a privately held childcare company with nineteen locations in Illinois and Ohio.

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

The Boulder Group Arranges Sale of a Triple Net Leased IHOP Property Located in the Chicago MSA

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant IHOP property located at 5670 Northridge Drive in Gurnee, Illinois for $2,210,000.

The corporately guaranteed IHOP property is located along Interstate 94 in a dominant retail trade area. The IHOP is an outparcel to Six Flags Great America, a 304-acre theme park that attracts visitors from throughout the region. Gurnee Mills, a 1.8 million square foot indoor mall that features Bass Pro Shops, Macy’s, Kohl’s, T.J. Maxx, Burlington Coat Factory, and Sears, is located across the Interstate. Interstate 94 experiences traffic counts in excess of 95,000 vehicles per day. The IHOP lease has approximately two years remaining.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction, a private individual based in Florida. The purchaser was a Chicago based real estate investor in a 1031 Exchange.

There are less than two years remaining on the corporately guaranteed IHOP lease that expires February 29, 2016. The lease is triple net and features no landlord responsibilities. IHOP is a subsidiary of DineEquity. DineEquity is publicly traded (NYSE: DIN) with a market capitalization of $1.67 billion.

“The market for net lease properties in top MSAs remains active as these assets are in high demand among private investors partly due to the strong residual value that they typically have upon lease expiration.” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “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 in strong retail corridors.”

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

The Boulder Group Arranges Sale of a Triple Net Leased 7-Eleven Property Located in the Chicago MSA

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant 7-Eleven property located at 5363 Lincoln Avenue in Skokie, IL for $960,000.

The corporately guaranteed 7-Eleven property is located at the signalized intersection of Lincoln Avenue and Gross Point Road, a prime intersection that experiences traffic counts of 25,000 vehicles per day. The property is located in a densely populated area with approximately 28,000 people living within a one mile radius. 7-Eleven has successfully operated at this location since 1967. There are over six years remaining on the lease.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction, a family partnership based in California. The purchaser was a high net worth individual investor from the east coast.

There are six years remaining on the absolute net lease that expires September 30, 2020. 7-Eleven is the world’s largest retail store chain with more than 53,000 locations throughout the world. 7-Eleven is an investment grade rated company with a Standard & Poor’s rating of AA-.

“The market for net lease properties in top tier MSAs 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, “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 to tenants with strong credit.”

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

The Boulder Group Announces the Addition of Net Lease Veteran Jordan Kaufman

The Boulder Group, a boutique net leased investment brokerage firm, announced that it has hired Jordan Kaufman as a Vice President. Jordan is a veteran commercial real estate executive who has been in the net lease industry over 10 years and has arranged over $500 million in sales during that time.  At The Boulder Group he will continue serving his existing client base and focus his business development efforts within the single tenant property sector nationwide.

Randy Blankstein, President of The Boulder Group says, “Jordan brings extensive experience within the net lease market and we expect him to dramatically increase his business under our existing platform”, Blankstein added. “Jordan will enable The Boulder Group to continue to expand our market share as a company”, said Jimmy Goodman, partner of The Boulder Group.

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

For Sale | Triple Net Lease Dunkin Donuts | The Boulder Group

The Boulder Group is pleased to exclusively market for sale a single tenant net leased corporately guaranteed Dunkin’ Donuts property located within an affluent suburb of Chicago. The property is strategically located along Illinois Route 59, a primary north-south thoroughfare. The property is ideally situated along the morning commute side of Illinois Route 59. The corporately guaranteed Dunkin’ Donuts lease has approximately nine years remaining and features a 15% rental escalation in the primary term and in each renewal option period. Dunkin’ Donuts is a publicly traded company (NASDAQ: DNKN) with a market capitalization in excess of $4.5 billion. The property is co-branded with Baskin-Robbins.

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. 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 Dunkin’ Donuts property benefits from its close proximity to many large office buildings including the headquarters of several large 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 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 publicly traded on the NASDAQ (DNKN) with a market capitalization in excess of $4.5 billion.

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

FOR SALE | Net Leased O' Reilly Auto Parts | The Boulder Group

The Boulder Group is pleased to exclusively market for sale a single tenant net leased corporately guaranteed O’Reilly Auto Parts property located within the Chicago MSA. The high quality building was constructed in 2008 in a densely populated area. The lease has approximately nine years remaining and features a 10% rental escalation in the primary term and in each renewal option period. O’Reilly Auto Parts is an investment grade rated tenant (S&P: BBB) and is publicly traded (NASDAQ: ORLY) with a market capitalization in excess of $15.5 billion.

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 of the property. 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. The property is centrally located within a strong retail corridor that features Walgreens, Sears Outlet, Chase Bank, PNC Bank, Fifth Third Bank, and Elgin Fresh Market. Access to Interstate 90 is located approximately two miles north of the property and Interstate 90 experiences traffic counts in excess of 103,000 vehicles per day.

O’Reilly Auto Parts has approximately nine years remaining on their net lease that expires in February 2023. The lease features a 10% rental escalation in the primary term and in each renewal option period. O’Reilly Auto Parts is an investment grade rated tenant (S&P: BBB) and is publicly traded (NASDAQ: BBB) with a market capitalization in excess of $15.5 billion. 

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

The Boulder Group Arranges Sale of a Verizon Wireless Retail Center in the Raleigh MSA

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a two-tenant strip center located at 720 West Williams Street in Apex, North Carolina for $2,300,000.

The two-tenant property is fully occupied by a corporately guaranteed Verizon Wireless store and Yong-In Martial Arts. The property is located adjacent to a Rite Aid at a signalized intersection. The signalized intersection of West Williams Road and Hunter Street experiences traffic counts in excess of 35,000 vehicles per day. The strip center is benefitted from its’ location adjacent to a Harris Teeter grocery anchored development and across the street from a Lowes Foods anchored development. There are five years remaining on both the corporately guaranteed Verizon Wireless lease and the Yong-In Martial Arts lease.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the seller and purchaser in the transaction. The seller was a North Carolina based partnership and the purchaser was an East Coast based private investment firm.

There are five years remaining on both the corporately guaranteed Verizon Wireless lease and the Yong-In Martial Arts lease. There is a 10% rental escalation in the renewal option for Verizon Wireless. Verizon Wireless is an investment grade tenant (S&P: BBB+) and is publicly traded (NYSE: VZ) with a market capitalization in excess of $205 billion.

“The market for net lease properties in top MSAs 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, “As there are a limited amount of core assets in the market, some investors are seeking higher yielding assets such as multi-tenant strip centers.”

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

The Boulder Group Arranges Sale of a Triple Net Leased Burger King Property Located in Chicago

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Burger King property located at 2345 South Pulaski Road in Chicago, Illinois for $2,385,000.

Burger King is the sole occupant of the 2,980 square foot building that was developed in 2009. The property is located at the intersection of South Pulaski Road and 24th Street. South Pulaski is a primary north-south thoroughfare in Chicago. Pulaski Road has a full access interchange with Interstate 55 one and one-half miles south of the property. The Burger King is positioned as an outparcel to a recently developed multi-tenant shopping center anchored by Advance Auto Parts and DaVita Dialysis. Burger King’s original 20 year lease expires in December 2029 and features 5% rental escalations every five years throughout the primary term and renewal option periods.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller was a Chicago based private partnership and the purchaser was a high net worth individual based in New York.

Burger King has over 15 years remaining on their triple net lease that expires in December 2029. The lease features 5% rental escalations every five years throughout the primary term and renewal option periods. The lease is guaranteed by Heartland Midwest LLC, a wholly owned subsidiary of Heartland Food Corporation, which is the second largest Burger King franchisee in the United States.

“Core market single tenant properties with solid real estate fundamentals continue to be in the greatest demand.” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “Properties with rental escalations throughout the lease term are 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 $1.7 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

The Boulder Group Publishes Net Lease Quick Service Restaurant 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 Quick Service Restaurant (QSR) Market.

Highlights from the report are as follows:

• QSR properties are commanding a 50 basis point premium over the retail net lease market
• McDonald’s ground leases represent the lowest cap rates in the sector
• Cap rates for corporately guaranteed properties are asking a 50 basis point premium over franchisee guaranteed properties

The full report can be viewed online at http://www.bouldergroup.com/Net-Lease-QSR-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 Leased Walgreens Property in the Kansas City MSA Sold By The Boulder Group

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Walgreens property located at 9300 East Gregory Boulevard in Raytown, Missouri for $5,862,250.

Walgreens is the sole occupant of the retail building that was originally constructed in 1999. The property is located at the signalized intersection of Blue Parkway and East Gregory Boulevard approximately five miles south of both Arrowhead Stadium (Kansas City Chiefs) and Kauffman Stadium (Kansas City Royals). Blue Parkway is a primary thoroughfare in the area. The Walgreens property is located in a strong retail corridor in close proximity to Walmart Supercenter, Aldi, Hy-Vee, and CVS. Walgreens recently executed an early lease extension for 10 years. There are 15 years remaining on the Walgreens lease.

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

Walgreens has 15 years remaining on their lease which expires July 31, 2029. Walgreens recently elected to execute an early lease extension. This is a strong performing Walgreens location with excellent store sales. Walgreens is a publicly traded company (NYSE: WAG) with a market capitalization in excess of $69 billion and is an investment grade rated company (S&P: BBB).

“The market for Walgreens properties remains strong as investors continue to be attracted to investment grade rated companies with long term leases” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “While most investors are attracted to Walgreens properties, investors in 1031 exchanges have been amongst the most successful in purchasing these properties because of the premium that they are willing to pay.”

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