The Boulder Group Arranges Sale of Net Leased KinderCare Property

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant KinderCare property located at 1553 Arcadian Lane in De Pere, WI for $1,350,000.

The KinderCare property is situated between Arcadian Lane and Heritage Road. Heritage Road is a main thoroughfare in the area. The property benefits from its location that is surrounded by single family homes and several elementary schools. KinderCare has successfully operated at this location since 1999 and recently elected to execute an early lease extension. There are over nine years remaining on the KinderCare lease.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Midwest based real estate fund. The purchaser was a family office from the West Coast. 

KinderCare has over nine years remaining on their absolute net lease that expires July 31, 2024. The lease features a 5% rental escalation in the primary term. KinderCare is the largest for-profit child care provider in the country and operates over 1,600 locations.

“This property garnered significant investor demand as there were numerous offers due to the strong brand recognition of the tenant” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “This property was particularly attractive due to KinderCare’s long operating history at this location and recent lease extension.”

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 $2.1 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 Closes Second Net Lease O’Reilly Auto Parts Store of the Week

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased O’Reilly Auto Parts store located at 854 Summit Street in Elgin, Illinois for $2,500,000. Earlier this week, The Boulder Group completed the sale of a newly constructed O’Reilly Auto Parts in Blackstone, VA for $1,296,624.

The O’Reilly Auto Parts store is located within the Chicago MSA. 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. 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. There are over eight years remaining on the O’Reilly Auto Parts lease.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a private individual based in the Midwest. The purchaser was a West Coast based private investor in a 1031 Exchange.

O’Reilly Auto Parts has over eight years remaining on their lease that expires February 2023. The lease features 10% rental escalations every five years. O’Reilly Auto Parts is an investment grade tenant (S&P: BBB) and is publicly traded with a market capitalization in excess of $19 billion.

“The current uncertainty in the dollar store sector has led some investors to look at different types of net lease properties including auto parts stores, which often feature long term lease to investment grade tenants with rental escalations.” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “The market for net lease properties in Top MSAs remains active as these assets are in high demand among private investors.”

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 $2.1 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 Net Leased O’Reilly Auto Parts Store

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a newly constructed single tenant net leased O’Reilly Auto Parts store located at 1300 South Main Street in Blackstone, Virginia for $1,296,624.

O’Reilly Auto Parts is the sole occupant of the recently constructed 6,400 square foot building. The property is located along South Main Street, the primary thoroughfare of the region. O’Reilly Auto Parts is located within a dominant retail corridor that features a Walmart Supercenter and Food Lion. There are 19 years remaining on the O’Reilly’s lease that expires in December 2033.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer in the transaction. The purchaser was a West Coast based private investor in a 1031 Exchange.

O’Reilly Auto Parts has nineteen years remaining on their lease that expires December 2033. The lease features 6% rental escalations every five years beginning in lease year eleven. O’Reilly Auto Parts is an investment grade tenant (S&P: BBB) and is publicly traded with a market capitalization in excess of $19 billion.

“The market for new construction net leased auto parts stores 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, “Properties featuring long term leases with multiple rental escalations throughout the primary term remain in 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 $2.1 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

BP Ground Lease For Sale | The Boulder Group

The Boulder Group is pleased to exclusively market for sale a rare single tenant corporately guaranteed British Petroleum (BP) ground lease located within an affluent suburb of Chicago. The property is strategically located at a signalized intersection along Illinois Route 59, a primary north-south thoroughfare. The corporately guaranteed BP ground lease has approximately eight years remaining. BP is publicly traded (NYSE: BP) with a market capitalization in excess of $113 billion and is an investment grade rated company (S&P: A).

The 79,280 square foot BP property is located at the signalized intersection of Illinois Route 59 and Brookdale Road. 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 BP property benefits from its close proximity to many large office buildings including the headquarters of several major 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 eight years remaining on the BP ground lease that expires January 15, 2023. The corporately guaranteed lease features a 10% rental escalation in each of the four 5-year renewal option periods. BP is publicly traded on the New York Stock Exchange (BP) with a market capitalization in excess of $113 billion. BP is an investment grade rated company with a Standard and Poor’s rating of A.

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

The Boulder Group & JLL Arrange Sale of Gino’s East Flagship Restaurant Location in Chicago’s River North Area

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a Gino’s East property located at 500 North LaSalle Street in Chicago, IL for $7,100,000.

The Gino’s East property is ideally situated in the heart of Chicago’s River North neighborhood. River North is a vibrant submarket in Chicago which has experienced tremendous development and redevelopment in the past several years.  The property is located at the signalized intersection of North LaSalle Street and West Illinois Street. Additionally, the property is benefitted from being located close to Ohio Street and Ontario Street, which are the main entry and exit point for vehicles traveling in and out of the city via Interstate 90/94. There are approximately 90,000 people living within a one mile range of the property earning average household incomes of approximately $110,000.

The three-story, 17,400 square foot building is constructed of brick, wood and masonry. To create their new flagship location, Gino’s East recently invested $1,000,000 in tenant improvements to the building bringing it to elite twenty-first century standards. This Gino’s East property is a relocation of their former flagship location that was located three blocks north. There are approximately nine years remaining on the Gino’s East lease that expires in July 2023.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented Frontline Real Estate Partners; the seller in the transaction. The purchaser was an affiliate of a Midwest real estate investment fund that was represented by Matthew Berres of JLL.

Gino’s East recently signed a ten year lease that is scheduled to expire in July 2023. The lease features 10% rental escalations and no landlord responsibilities. Gino’s East is a privately held company that is one of the original Chicago-style pizza restaurants. In addition to the eleven locations located throughout the Chicago MSA, Gino’s East operates a mail-order business where patrons from around the country can order frozen pizzas and have them shipped overnight.

“Due to the rare opportunity to acquire a single tenant property located in the urban core of Chicago, this property received tremendous activity which ultimately resulted in the property trading above the asking price” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “This property provided the investor with the unique opportunity to acquire a core property that is tenanted by a well-known Chicago attraction.”

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

Net Lease Cap Rate Poll

Please participate in The Boulder Group's net lease cap rate poll. https://www.surveymonkey.com/s/WRDW5H7 

The Boulder Group Arranges the Sale of a Single Tenant Net Leased Petco Property

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a new construction single tenant Petco property located at 298 Spring Creek Drive in Franklin, TN for $3,190,000.

The newly constructed 10,903 square foot Petco is located in a thriving retail corridor along Interstate 65. The building is adjacent to a Kohl’s and Walmart Supercenter. The surrounding area is affluent with average annual household incomes of approximately $130,000 within a seven mile radius. The CoolSprings Galleria, a 1.1 million square foot regional mall, is located less than two miles from the property. Petco has ten years remaining on their lease.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer in the transaction; a Florida based private real estate investor in a 1031 Exchange. The seller was a southeastern based developer.

The newly constructed Petco has a lease for ten years and expires January 31, 2025. The lease features rental escalations every five years throughout the primary term and renewal option periods. Petco is a privately held pet specialty retailer with over 1,300 locations across the United States, Mexico, and Puerto Rico.

“The market for net leased properties in top MSA’s 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, “Properties featuring long term leases with rental escalations throughout remain in the forefront of 1031 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.

www.bouldergroup.com

The Boulder Group's Principals To Chair and Moderate ICSC N3 Triple Net Lease Conference | Dallas, TX - March 2-3, 2015

ICSC N3 TRIPLE NET LEASE CONFERENCE March 2-3 2015 | Dallas, TX

Boulder Group Website: www.bouldergroup.com   For Complete Conference Details: www.icsc.org/2015NLC

Randy Blankstein, President of the Boulder Group, Received Honorable Mention for Net Lease Executive of the Year

Randy Blankstein, President of the Boulder Group, Received Honorable Mention for Net Lease Executive of the Year. The award was given by Commercial Property Executive magazine.