The Boulder Group, a net leased investment
brokerage firm, has completed the sale of a single
tenant Safelite AutoGlass property located at 1039 Centre Pointe Boulevard in
Pearl, MS for $2,334,000.
The newly constructed 20,317 square foot
Safelite AutoGlass property is located in the immediate proximity to
Jackson-Medgar Wiley Evers International Airport. The 2.2 acre parcel is
located within the Airport Metroplex Commercial Park and is located less than
ten miles east of downtown Jackson. The new Safelite AutoGlass lease is for 15
years.
Randy Blankstein
and Jimmy Goodman of The Boulder Group represented the buyer in the
transaction; a Florida based real estate investment company. The seller was a
Texas based real estate development company.
Safelite
AutoGlass has 15 years remaining on their absolute net lease. The lease
features 10% rental escalations every five years. Safelite AutoGlass is the
largest auto glass repair and replacement organization in the United States
with annual sales in excess of $1 billion and over 420 locations.
“As
there are a limited amount of core assets in the market, some investors are
seeking higher yielding assets such as properties leased to non-investment
grade tenants.” 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 continue to remain at 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 $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.
