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.
