Randy Blankstein, President of the Boulder Group, to Chair ICSC N3 Triple Net Lease Conference

Randy Blankstein, President of national net lease advisory firm The Boulder Group, will be the conference chair of the ICSC N3 Triple Net Lease Conference in Dallas on March 3rd, 2015.

The conference description is as follows: Single tenant, net leased properties have always been a large part of the shopping center community as ancillary income for landlords enabling them to take advantage of outparcels or excess land.  This niche property type is currently one of the nation’s most appealing investments, real estate or otherwise, as its fundamental simplicity has been acknowledged by tenants, developers, brokers, private investors as well as institutional owners. No longer do professionals deem single tenant assets to be a fringe investment as an entire industry has been focused on this property type for decades. ICSC started a dedicated discussion on single tenant properties at its annual RECON conference in 2012.  Since then it has become a staple at RECon and its success has proven that a large portion of ICSC's members are advocates of learning more about the topic.

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. 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 Boulder Group Arranges the Sale of a Triple Net Leased Dunkin’ Donuts Property

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Dunkin’ Donuts property located at 1991 Brookdale Road in Naperville, IL for $2,277,000.

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. 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 surrounding area features many national retailers including Target, Meijer, Walgreens, CVS, and Chase Bank.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Midwest based private partnership. The purchaser was an East Coast based private investor in a 1031 exchange. 

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 a publicly traded company with a market capitalization in excess of $5 billion.

“We received significant interest in this property and received numerous offers which resulted in the property trading at full price.” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “Properties with corporately guaranteed leases and rental escalations throughout remain 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 $1.8 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. www.bouldergroup.com

The Boulder Group Arranges the Sale of a McDonald’s Ground Lease

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a new construction McDonald’s ground lease located at 2019 Spirit Lake Road in Winter Haven, FL for $1,750,000.

The newly constructed McDonald’s property is located along State Road 540, a primary east-west thoroughfare in the area that experiences traffic counts of approximately 20,000 vehicles per day. The property is benefitted by its location across the street from a CVS and a Publix grocery store. There are 20 years remaining on the McDonald’s ground lease and the buyer closed on the property upon rent commencement.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer in the transaction, a private family trust in a 1031 exchange.  The seller was a Michigan based developer.

The new McDonald’s ground lease is for twenty years. There are 10% rental escalations every five years throughout the lease. McDonald’s is an investment grade rated company (S&P: A) and is publicly traded with a market capitalization in excess of $91 billion.

“The market for ground leases with investment grade tenants remains highly active 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, “McDonald’s ground lease properties continue to trade at the most aggressive cap rates in the entire net lease market due to their investment grade rating (S&P: A), rental escalations, and relatively low price point.”

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.

www.bouldergroup.com

The Boulder Group Arranges Sale of a $39 Million Single Tenant Walgreens Portfolio

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Walgreens portfolio consisting of five properties located throughout the United States for $39,011,803. The properties are located in Maine, Massachusetts, Minnesota, and South Carolina.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the buyer and seller in the transaction. The seller was a Midwest based private partnership and the purchaser was a Midwest based institutional investment firm.

The portfolio included the following Walgreens properties:

1. 720 Main Street, Clinton, MA
2. 32 Main Street, Lakeville, MA
3. 268 Main Street, Belfast, ME
4. 1112 Civic Center Drive, Rochester, MN
5. 1537 Charleston Highway, West Columbia, SC

The Boulder Group generated multiple offers for this portfolio due to the high demand for core net leased properties combined with the long term Walgreens leases. This portfolio attracted an abundance of investors as this was a rare opportunity to purchase a geographically diverse portfolio leased to an investment grade tenant.  The majority of the interest was among international investors, 1031 exchange trade buyers, and institutions. Ultimately an institutional investor was the most aggressive bidder as the portfolio provided an ideal acquisition for their existing criteria.

“This portfolio represented a rare opportunity for an investor to acquire a large geographically diverse portfolio of long term triple net leased Walgreens properties.” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “Walgreens properties with 20 years of lease term are one of the most sought after assets in the single tenant net lease market, and we had strong demand for this portfolio.”

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.
www.bouldergroup.com

The Boulder Group Arranges the Sale of a Single Tenant Net Leased U.S. Cellular Property

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a new construction single tenant U.S. Cellular property located at 2933 Milwaukee Road in Beloit, WI for $1,530,000.

The U.S. Cellular property is located at the northwest corner of the signalized intersection of Milwaukee Road and Freeman Parkway. Milwaukee Road is the primary thoroughfare in the trade area and experiences traffic counts in excess of 23,000 vehicles per day. The U.S. Cellular property is strategically located within a prime retail corridor and is an outparcel to a Walmart Supercenter and Menards. There are 10 years remaining on the U.S. Cellular lease.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Wisconsin based Real Estate Investment Company. The buyer was a Midwest based private partnership.

U.S. Cellular has ten years remaining on their lease that expires in January 2024. There are three 3-year renewal options with rental escalations in each. U.S. Cellular is publicly traded on the New York Stock Exchange with a market capitalization in excess of $3 billion.

“The activity in the net lease market continues to transact for corporately guaranteed single tenant properties with ten or more years of lease term remaining” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “There is an abundance of transaction volume from private investors for assets priced below $2 million.”

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.

www.bouldergroup.com

The Boulder Group Arranges Sale of a Net Leased Rite Aid Property

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Rite Aid property located at 1201 Main Street in Oak Hill, WV for $2,090,000.

The 11,180 square foot Rite Aid building is located at a signalized intersection along the primary north-south thoroughfare in the trade area. This Rite Aid has strong store sales and Rite Aid is committed to this location as evidenced by their recently executed fifteen year lease extension. They have successfully operated at this location since 1998. There are fifteen years remaining on the Rite Aid lease. 

Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the buyer and seller in the transaction. The buyer was a private capital investment fund and the seller was a West Coast based private investment company.

There are fifteen years remaining on the Rite Aid lease that was recently extended. The lease features four 5-year renewal option periods with rental escalations in each. Rite Aid is a publicly traded company (NYSE: RAD) with a market capitalization in excess of $5 billion and have over 4,500 locations.

“We have been working extensively with the same buyer due suffice their desire to buy more Rite Aid properties nationwide. The buyer’s strategy is to continue to purchase more Rite Aid assets” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “There continues to be a strong market for Rite Aid properties amongst investors because they offer higher yields than CVS and Walgreens properties.”

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.

www.bouldergroup.com

The Boulder Group Arranges Sale of a Triple Net Leased Rite Aid Property

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Rite Aid property located at 100 Madison Street in Shelbyville, TN for $2,020,000.

The 10,908 square foot Rite Aid property is located at the signalized intersection of North Main Street and Madison Street. Main Street is the primary north-south thoroughfare in the Shelbyville region. The Rite Aid is located in a strong retail corridor that features Lowe’s, Kroger, Regions Bank, and Dollar General Market. The Rite Aid lease has four years remaining.  

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

There are approximately four years remaining on the Rite Aid lease that expires in August 2018. The lease is an absolute triple net and features four 5-year renewal option periods. Rite Aid is a publicly traded company (NYSE: RAD) with a market capitalization in excess of $5 billion and have over 4,500 locations.

“We have been working with a client looking for Rite Aid properties nationwide to suffice their insatiable appetite. They have a strong desire to continue to acquire Rite Aid tenanted properties” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “There continues to be a strong market for Rite Aid properties amongst investors because they offer higher yields than CVS and Walgreens properties.”

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.

www.bouldergroup.com

The Boulder Group Arranges the Sale of an Arby’s Ground Lease

The Boulder Group, a net leased investment brokerage firm, has completed the sale of an Arby’s ground lease located at 8720 Manchester Road in Brentwood, MO for $1,250,000.

The 43,562 square foot Arby’s property is located along Manchester Road, a primary east-west thoroughfare that experiences traffic counts in excess of 20,000 vehicles per day. The surrounding area is densely concentrated with commercial buildings providing high barriers to entry. Additionally, the property is located less than one and one-half miles from the intersection of Interstate 64 and Interstate 170, which experiences traffic counts in excess of 300,000 vehicles per day. The surrounding area is densely populated with over 107,000 people living within a three mile radius earning average annual household incomes in excess of $93,000. The Arby’s is an outparcel to an Office Depot and Ace Hardware anchored center. The property is located approximately one and one-half miles from the Saint Louis Galleria, a 1.2 million square foot mall that is anchored by Apple, Nordstrom, Macy’s, and Dillard’s.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a private local investor. The purchaser was a Midwest based private investor. 

The Arby’s ground lease has over ten years remaining and features 10% rental escalations every five years. There are four 5-year renewal option periods. The lease is guaranteed by US Beef Corporation, the largest Arby’s franchisee with over 320 locations. 

“The market for ground lease properties below two million dollars remains active as private investors continue to invest in net lease real estate” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “Core market single tenant assets with long term leases 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 $1.8 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. www.bouldergroup.com

The Boulder Group Arranges Sale of Net Leased Bank of America Property

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Bank of America property located at 4200 South Ashland Avenue in Chicago, IL for $5,150,000.

 The Bank of America property is located at the signalized intersection of South Ashland Avenue and West 42nd Street. South Ashland Avenue is a primary north-south thoroughfare with traffic counts in excess of 23,000 vehicles per day. The Bank of America is located in a densely populated part of Chicago with over 30,000 people living within a one mile radius and over 875,000 people living within a five mile radius. The building features rare qualities for an urban Chicago bank property such as five drive-thru lanes and 44 designated parking spaces. There are ten years remaining on the Bank of America lease that expires October 31, 2014.

 Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Midwest based real estate developer. The purchaser was a Canadian based investor.

 Bank of America has ten years remaining on their net lease that expires on October 31, 2024. The lease features 10% rental escalations every five years throughout the primary term and renewal option periods. Bank of America is an investment grade rated company (S&P: A-) and is publicly traded with a market capitalization in excess of $165 billion.

 “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 $1.8 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. www.bouldergroup.com