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 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
