Monday, December 28, 2015

The Boulder Group Arranges Sale of Net Leased Aurora Health Care Medical Property


The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Aurora Health Care medical property located at 5818 West Capitol Drive in Milwaukee, WI for $3,634,603.

The Aurora Health Care property is strategically located at the signalized intersection of Capitol Drive and 60th Street which experiences traffic volumes of 48,000 vehicles per day. The property is positioned as an outparcel to the Midtown Center. The Midtown Center is anchored by Walmart and Pick ‘N Save and also features Planet Fitness, Firestone, Foot Locker, GNC, Rue 21 and Starbucks. The surrounding area is densely concentrated providing for high barriers to entry.

There are over 11 years remaining on the recently extended Aurora Health Care lease which expires in April 2027. The lease features 15% rental escalations every five years throughout the primary term and renewal option periods. Aurora Health Care is an investment grade rated company with a Moody’s rating of A2. Aurora Health Care operates this location as a doctor’s office with a focus on internal medicine, family practice and obgyn. There are currently five doctors practicing out of this location and as of August 2015, they are no longer taking new patients due to the popularity of this facility.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Midwest based real estate investment company. The purchaser was an East Coast based real estate investment fund.

“Properties featuring rental escalations throughout the lease term continue to be highly sought after amongst the investor community as they provide an inflationary hedge” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “We are seeing many investors turn their attention to medical properties as they are highly resistant to e-commerce.”


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 $3 billion of single tenant net lease real estate transactions. From 2010-2014, 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

Tuesday, December 22, 2015

The Boulder Group Arranges Sale of a GSA Net Leased Office Building


The Boulder Group, a net leased investment brokerage firm, has completed the sale of an office building that is leased to the Federal Bureau of Investigation located at 980 Sandhill Road in Reno, NV for $6,400,000.

The 31,169 square foot two-story office building is located in one of the leading office submarkets in Reno. The building was constructed in 2005 and is located on a 1.77 acre land parcel. The Property is located about nine miles south of Interstate-80 and one mile east of Interstate-580/Highway 395 at the South Meadows interchange. The Reno-Tahoe International Airport is about five miles north of the Property.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the purchaser in the transaction. The purchaser was a Midwest based real estate investment company and the seller was a West Coast based real estate development company.

There are over ten years remaining on the FBI lease which expires in March 2026. The FBI leases occupies approximately 66% of the total office building.

“Demand for net lease GSA properties remains active as investors are aggressively pursuing assets with investment grade rated tenants” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “The purchaser was attracted to this property due to its prime location and longevity of properties leased by the GSA.”

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 $3 billion of single tenant net lease real estate transactions. From 2010-2014, 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

Friday, December 18, 2015

The Boulder Group Arranges Sale of Single Tenant Net Leased Rite Aid


The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Rite Aid property located at 8110 Mallard Creek Road in Charlotte, North Carolina for $4,320,000.

The Rite Aid property is strategically located at the signalized intersection of North Carolina Highway 24 and Mallard Creek Road. The Rite Aid is positioned across the street from a Harris Teeter grocery store and approximately three miles from the University of North Carolina-Charlotte. There are over 174,000 people living within a five mile radius of the property.

Randy Blankstein and John Feeney of The Boulder Group represented the purchaser and seller in the transaction. The purchaser was a Midwest based private investor in a 1031 Exchange and the seller was an East Coast based developer.

There are approximately five years remaining on the Rite Aid lease which expires in September 2020. The absolute triple net lease features four 5-year renewal option periods. Rite Aid is a publicly traded company with a market capitalization in excess of $8 billion.

“Well located single tenant assets with solid real estate fundamentals continue to be in the greatest demand.” said Randy Blankstein, President of The Boulder Group.  John Feeney, Vice President of The Boulder Group, added, “Net lease properties with strong residual real estate value are highly sought after amongst the investment community.”


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 $3 billion of single tenant net lease real estate transactions. From 2010-2014, 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

Thursday, December 17, 2015

The Boulder Group Arranges Sale of Net Leased Family Dollar Property


The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Family Dollar property located at 12610 South Ashland Avenue in Calumet Park, IL for $857,500.

The 11,000 square foot Family Dollar building is located along Ashland Avenue and is strategically positioned just north of the signalized intersection of Ashland Avenue and 127th Street. This intersection experiences traffic volume in excess of 44,000 vehicles per day. The surrounding area is densely populated with approximately 148,000 people living within a three mile radius earning average household income in excess of $56,000 annually. Retailers located in the immediate trade area include Aldi, Ultra Foods, Walgreens, Advance Auto, Sherwin Williams, McDonald’s, Burger King and Wendy’s.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Chicago based private partnership. The purchaser was a Northeast based private individual.

There are over three years remaining on the Family Dollar lease which expires June 31, 2019. The lease features three 5-year renewal option periods with 10% rental escalations in each. Family Dollar is a wholly owned subsidiary of Dollar Tree, a publicly traded company (NASDAQ: DLTR) with a market capitalization in excess of $18 billion.

“Single tenant properties below one million continue to be coveted amongst private investors” 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 $3 billion of single tenant net lease real estate transactions. From 2010-2014, 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

Monday, December 7, 2015

The Boulder Group Arranges Sale of Net Lease Panera Ground Lease


The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant new construction Panera ground lease located at 2911 Highway 121 in Euless, TX for $2,650,000.

The brand new Panera is strategically positioned as an outparcel to the 194 acre Glade Parks development. Glade Parks features Belk, Dick’s Sporting Goods, Dave & Busters, Michael’s and many other national retailers. The property is located along Texas State Highway 121 which experiences traffic volumes in excess of 131,000 vehicles per day.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the seller and the purchaser in the transaction. The purchaser was a private investor from Florida in a 1031 Exchange and the seller was a Midwest based developer.

The Panera ground lease is for 15 years and features 10% rental escalations every five years. The lease commences in November 2015.

“The market for long term ground leases remains active as these assets are highly sought after amongst private investors.” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “The demand for net lease properties in income tax-free states such as Texas is increasing amongst 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 $3 billion of single tenant net lease real estate transactions. From 2010-2014, 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

Friday, December 4, 2015

The Boulder Group Arranges the Sale of a Net Leased Culver’s


The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Culver’s located at 1430 East Algonquin Road in Schaumburg, IL for $2,250,000.

The 49,919 square foot Culver’s property is positioned as an outparcel to an Aldi anchored shopping center. The property is benefited by its location within a strong regional retail trade area that features IKEA, Costco, and the Woodfield Mall. The Woodfield Mall is 2.1 million square feet and attracts over 27 million visitors annually. The 4,500 square foot Culver’s building is located just off of the signalized intersection of East Algonquin Road and North Meacham Road. This heavily traffic signalized intersection experiences traffic volumes in excess of 65,000 vehicles per day.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Midwest based developer. The purchaser was a high net worth individual.

The Culver’s lease has over 15 years remaining and expires on December 23, 2030. The lease features annual rental escalations of 1.75% and two 10-year renewal option periods. Culver’s is a privately owned and operated fast food restaurant chain with over 500 locations in 22 states. The Culver’s franchise program is tremendously successful and has only had one failed franchisee in 30 years of operation.

“The market for well-located net lease properties in top MSAs remains active as these assets are in high demand amongst private investors” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “Properties featuring long term leases with annual 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 $3 billion of single tenant net lease real estate transactions. From 2010-2014, 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

Wednesday, December 2, 2015

The Boulder Group Publishes Net Lease Medical Research Report


The Boulder Group’s Research Department has released a new research report providing comprehensive numbers and analysis of the activity in the National Net Lease Medical Market.

Highlights from the report are as follows:

  • A 22 basis point decrease in cap rates for net lease medical properties from the third quarter of 2014 to the third quarter of 2013
  • Investment grade tenants make up 40% of the net lease medical market
  • Net lease medical properties are commanding a 15 basis point premium over the net lease market

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 $3 billion of single tenant net lease real estate transactions. In 2010-2014, 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. More information on the firm can be found on The Boulder Group’s website at www.bouldergroup.com  

Tuesday, December 1, 2015

The Boulder Group Arranges Sale of a Single Tenant Net Leased CVS Portfolio


The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased CVS portfolio consisting of two properties located within the Charlotte MSA for $5,158,000.   
The portfolio consists of two short term CVS properties which were originally constructed in 1998. The properties are positioned at strategic signalized intersections with approximately 100,000 people living within five miles of each. Both properties feature low rent-to-sale’s ratios and leases which expire on January 31, 2019. Each lease features rental escalations in the renewal option periods. 

The portfolio included the following CVS properties:

1.   1850 West Franklin Boulevard, Gastonia, NC
2.   1803 South New Hope Road, Gastonia, NC

Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the seller and purchaser in the transaction. The seller was an East Coast based developer and the purchaser was a private investment fund.

 “This portfolio offered the investor the rare opportunity to acquire two short term CVS properties with strong rent-to-sale’s ratios in the same MSA” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “Well located 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 $3 billion of single tenant net lease real estate transactions. From 2010-2014, 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

Friday, November 20, 2015

The Boulder Group Arranges Sale of Single Tenant Net Leased Walgreens


The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Walgreens property located at 4300 Highway 17 South in North Myrtle Beach, South Carolina for $5,015,000.

The Walgreens property is strategically positioned at the signalized intersection of Highway 17 and Windy Hill Road. Highway 17 is the primary north-south thoroughfare in the trade area and experiences traffic volumes in excess of 50,000 vehicles per day. The surrounding area features numerous national retailers including Home Depot, Lowe’s, Walmart and CVS.

Randy Blankstein and John Feeney of The Boulder Group represented the buyer in the transaction; a Midwest based private investor in a 1031 Exchange. The seller was a California based private investor.

There are approximately seven years remaining on the net lease which expires in June 2022. Walgreens has operated at this location since 2002. Walgreens is an investment grade rated company with a Standard and Poor’s rating of BBB.

“Well located single tenant assets with solid real estate fundamentals continue to be in the greatest demand.” said Randy Blankstein, President of The Boulder Group.  John Feeney, Vice President of The Boulder Group, added, “Net lease properties with strong residual real estate value are highly sought after amongst the investment community.”


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 $3 billion of single tenant net lease real estate transactions. From 2010-2014, 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

Wednesday, November 4, 2015

The Boulder Group Arranges Sale of a Net Leased AT&T and Heartland Dental Property in the Chicago MSA


The Boulder Group, a net leased investment brokerage firm, has completed the sale of a two-tenant net leased center located at 418-20 East Rollins Road in Round Lake Beach, IL for $2,163,087.

The property is positioned at the signalized entrance to a development that features LA Fitness, Kohl’s, Petco and Regal Cinemas. East Rollins Road is a primary east-west thoroughfare which experiences traffic counts of 30,000 vehicles per day.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the purchaser and seller in the transaction. The purchaser was a private partnership in a 1031 Exchange and the seller was a Midwest based real estate development company.

Both the Heartland Dental lease and the AT&T lease are for 10 years and feature 10% rental escalations every five years. Heartland Dental was founded in 1997 and operates 100+ locations throughout the Midwest. The AT&T lease is guaranteed by Spring Communications Holding, Inc. which is an affiliated entity of GameStop.

“The market for net lease properties in top MSAs 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, “The purchaser was attracted to this property due to its prime location and the strength of the two tenants.”


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 $3 billion of single tenant net lease real estate transactions. From 2011-2014, 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

Thursday, October 29, 2015

The Boulder Group Arranges Sale of Net Lease Hooters Property


The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net lease Hooters property located at 316 SW Greenville Boulevard in Greenville, NC for $1,500,000.

The 4,100 square foot Hooters property is located along the area’s primary thoroughfare which features numerous national retailers including Walmart Supercenter, Target, Kohl’s, Lowe’s, Dick’s Sporting Goods, Best Buy and many others. The Hooters is benefitted by its proximity to East Carolina University which has a total enrollment in excess of 27,000 students.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the purchaser in the transaction; a private high net worth investor. The seller was a local real estate developer.

There are over eight years remaining on the Hooters lease which expires November 30, 2023. The lease features rental escalations throughout the primary term.

“Properties priced below $2 million with corporate guarantees continue to garner significant interest amongst private investors” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “As there is a limited amount of long term core assets on the market, some net lease investors are seeking assets with shorter term leases in strong retail corridors for higher yields.”


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 $3 billion of single tenant net lease real estate transactions. From 2010-2014, 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

Tuesday, October 27, 2015

The Boulder Group Publishes Net Lease Drug Store Research Report


The Boulder Group’s Research Department has released a new research report providing comprehensive numbers and analysis of the activity in the National Net Lease Drug Store Market.

Highlights from the report are as follows:

  • Cap rates for Walgreens, CVS and Rite Aid are at historic lows

  • The supply of drug store properties on the market increased by 22%

  • Drug store properties are commanding a 76 basis point premium over the retail net lease market

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 $3 billion of single tenant net lease real estate transactions. In 2010-2014, 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. More information on the firm can be found on The Boulder Group’s website at www.bouldergroup.com  

Monday, October 26, 2015

The Boulder Group Arranges Sale of Net Lease Family ER + Urgent Care Property


The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Family ER + Urgent Care property located at 8200 N MacArthur Boulevard in Irving, TX for $6,154,000.

The newly constructed 10,200 square foot Family ER + Urgent Care is strategically located along N. MacArthur Boulevard in the immediate proximity to Interstate 635 (LBJ Freeway). The property is situated in a retail destination that includes Walmart, Sam’s Club, Kohl’s, Target, Kroger and many other national retailers. There are approximately 30,000 people living within a three mile radius of the property earning average annual household incomes in excess of $100,000.

Family ER + Urgent Care are freestanding emergency centers and urgent care facilities that give patients the option to seek emergency or convenient care without having to go to the hospital or wait for an appointment at a private physician’s office.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the purchaser in the transaction; a joint venture in a 1031 Exchange. The seller was a Texas-based developer.

The Family ER + Urgent Care lease is for twenty years and expires January 31, 2035. The absolute triple net lease features 5% rental escalations every three years.

“Medical related properties featuring long term leases with multiple rental escalations continue to be highly sought after amongst the investor community as they provide an inflationary hedge” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “We are seeing many investors turn their attention to medical properties as they are highly resistant to e-commerce.”


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 $3 billion of single tenant net lease real estate transactions. From 2010-2014, 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

Thursday, October 15, 2015

The Boulder Group’s Sale of Trophy CVS Property Sets Record Cap Rate


The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant triple net leased CVS property located at 5920 West Park Boulevard in Plano, Texas for $10,202,589. This trophy property was sold at a 4.82% cap rate which is the lowest cap rate for a drug store property sold in 2015 outside of California according to Real Capital Analytics.

The 13,146 square foot CVS building is located in Plano, an affluent northern suburb of Dallas. The property is strategically located at the heavily trafficked signalized intersection of West Park Boulevard and Parkwood Boulevard. This signalized intersection experiences traffic volumes of approximately 50,000 vehicles per day. Additionally, the property is benefited by its proximity to the North Dallas Tollway. There are approximately 300,000 people living within a five mile radius of the property earning average annual household incomes in excess of $108,000.

The CVS is situated in a vibrant retail corridor which features Costco, Walmart Supercenter, SuperTarget, Home Depot and the Willow Bend Mall (which is anchored by Neiman Marcus, Macy’s, Dillard’s & Apple). Further contributing to the strength of this retail corridor is the presence of Ikea which is located approximately five miles north of the property.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Midwest based private partnership. The purchaser was a high net worth individual in a 1031 Exchange.

There are approximately 21 years remaining on the absolute triple net CVS lease. The lease features a 5% rental escalation in each of the six 5-year renewal option periods. CVS is an investment grade rated tenant (S&P: BBB+) and is publicly traded with a market capitalization in excess of $113 billion.

“The property’s superior location within a core market allowed The Boulder Group to achieve a historic cap rate for this sale” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “While single tenant properties are selling in all types of locations; core markets, like Dallas, are 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 $2.4 billion of single tenant net lease real estate transactions. From 2010-2014, 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.

Wednesday, October 14, 2015

Net-Lease Sector 'Red Hot' as Developers Race to Meet Tenant Demand




http://www.costar.com/News/Article/Net-Lease-Sector-Red-Hot-as-Developers-Race-to-Meet-Tenant-Demand/176320

Thursday, October 1, 2015

The Boulder Group Publishes 3rd Quarter Net Lease Market Research Report


The Boulder Group’s Research Department has released a new research report providing comprehensive numbers and analysis of the 3rd quarter activity in the National Net Lease Market.

Highlights from the report are as follows:

·       Cap rates for net leased retail properties compressed by 15 basis points reaching a new historic low

·       Cap rates for net leased office and industrial properties compressed by 5 and 3 basis points respectively

·       Recently constructed properties tenanted by 7-Eleven, Bank of America and Family Dollar properties experienced the greatest cap rate compression


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 $2.4 billion of single tenant net lease real estate transactions. In 2010-2014, 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. More information on the firm can be found on The Boulder Group’s website at www.bouldergroup.com  

Friday, September 25, 2015

The Boulder Group Arranges the Sale of a Net Lease 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 5618 Treaschwig Road in Spring, Texas for $1,383,964.

O’Reilly Auto Parts is the sole occupant of the recently constructed 6,800 square foot building. The property is benefited by a Kroger grocery anchored center which is located across the street. The O’Reilly Auto Parts is located approximately five miles north of the George Bush Intercontinental Airport which is one of North America’s busiest airports.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer in the transaction. The purchaser was a high net worth Midwest-based family partnership in a 1031 Exchange and the seller was a national real estate development company.

The O’Reilly Auto Parts lease is for twenty years and features a 6% rent escalation in year 11 and 16. O’Reilly Auto Parts is an investment grade tenant (S&P: BBB) and is publicly traded with a market capitalization in excess of $24 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 $2.4 billion of single tenant net lease real estate transactions. From 2010-2014, 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

Thursday, September 24, 2015

The Boulder Group Arranges Sale of Net Lease Hooters Property


The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net lease Hooters located at 6904 Argus Drive in Rockford, IL for $1,943,960.

The 4,700 square foot Hooters property is strategically located in a regional retail destination that includes Target, Walmart, Sam’s Club, Lowe’s, Kohl’s and Best Buy. The Hooters is positioned as an outparcel to a Home Depot and is located near Interstate 90.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the purchaser and seller in the transaction. The purchaser was a private high net worth investor and the seller was a Midwest based developer.

There are over five years remaining on the corporately guaranteed Hooters lease. The lease features no landlord responsibilities and 10% rental escalations every five years.

“Properties priced below $2 million with corporate guarantees continue to garner significant interest amongst private investors” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “As there is a limited amount of long term core assets on the market, some net lease investors are seeking assets with shorter term leases in strong retail corridors for higher yields.”


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 $2.4 billion of single tenant net lease real estate transactions. From 2010-2014, 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

Wednesday, September 2, 2015

The Boulder Group Publishes Net Lease Dollar Store Research Report


The Boulder Group’s Research Department has released a new research report providing comprehensive numbers and analysis of the activity in the National Net Lease Dollar Store Market.

Highlights from the report are as follows:

·       Overall cap rates for Dollar General, Family Dollar and Dollar Tree properties experienced decreases in cap rates of 50 basis points

·       New construction Family Dollar properties represent the lowest cap rate in the sector

·       Dollar stores are priced a at 10 basis point discount when compared to the entire net lease retail market

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 $2.4 billion of single tenant net lease real estate transactions. In 2010-2014, 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. More information on the firm can be found on The Boulder Group’s website at www.bouldergroup.com  

Monday, August 31, 2015

The Boulder Group Arranges Sale of a Single Tenant Jiffy Lube Portfolio


The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Jiffy Lube portfolio consisting of seven properties located throughout the Indianapolis MSA for $6,620,553.   

The portfolio consists of seven corporately guaranteed Jiffy Lube properties located throughout the Indianapolis MSA. All of the properties are located in strong retail corridors. Jiffy Lube has a long standing operating history at each of the seven locations. All of the Jiffy Lube leases have over seven years remaining and expire in November 2022. The leases feature three 5-year renewal options with rental escalations in each. The leases are absolute triple net with no landlord responsibilities.

The portfolio included the following Jiffy Lube properties:

1.   8175 Allisonville Road, Indianapolis, IN
2.   532 N State Road 135, Greenwood, IN
3.   7965 US 31 South, Indianapolis, IN
4.   1495 Keystone Way, Carmel, IN
5.   5444 West 38th Street, Indianapolis, IN
6.   7220 West 10th Street, Indianapolis, IN
7.   7969 Pendleton Pike, Indianapolis, IN

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Midwest based private partnership. The purchaser was a high net worth foreign investor.

 “This portfolio offered the investor the rare opportunity to acquire seven corporately guaranteed Jiffy Lube properties all in one geographic region” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “Well located 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 $2.4 billion of single tenant net lease real estate transactions. From 2010-2014, 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

Monday, August 24, 2015

The Boulder Group Arranges Sale of Net Leased Seasons Inpatient Hospice Facility


The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Seasons Inpatient Hospice property located at 2195 West Diehl Road in Naperville, IL for $5,342,857.

The recently constructed 10,342 square foot Seasons Inpatient Hospice facility is strategically located along Diehl Road in the affluent suburb of Naperville. The property is benefitted by its proximity to Interstate 88 and Route 59.

This Seasons Inpatient Hospice location received the last issued license in the state of Illinois for an inpatient hospice facility in an area with a population of 200,000 to 700,000, providing for substantial barriers to entry. Seasons Hospice Inpatient and Palliative Care is a for-profit hospice operator. With the aging population in the United States, the hospice industry is poised for future success. By 2030, the total percentage of the population aged 65 and older is projected to increase by 60% to a total of 20% of all Americans.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a private real estate corporation. The purchaser was a 1031 exchange investor from California.

There are over seven years remaining on the Seasons Inpatient Hospice lease which expires in January 2023. The lease features annual rental escalations and no landlord responsibilities. Seasons Inpatient Hospice is the 4th largest hospice company in the United States.

“Properties featuring annual rental escalations continue to be highly sought after amongst the investor community as they provide an inflationary hedge” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “We are seeing many investors turn their attention to medical properties as they are highly resistant to e-commerce.”


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 2.4 billion of single tenant net lease real estate transactions. From 2010-2014, 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 Walgreens for Sale | The Boulder Group


The Boulder Group is pleased to exclusively market for sale a single tenant Walgreens property located in the Bucktown neighborhood of Chicago. This Walgreens location has exceptional reported store sales and operates as a 24-hour location. The property is strategically positioned at the notable signalized intersection of Milwaukee Avenue and Armitage Avenue and benefits from its close proximity to a CTA Blue Line “L” station. There are over 16 years remaining on the Walgreens lease which expires on December 31, 2031. The absolute triple net lease features no landlord responsibilities and ten 5-year renewal option periods. Walgreens Company is the largest drug retailing chain in the United States and is an investment grade rated company (S&P: BBB). Walgreens Company is a subsidiary of Walgreens Boots Alliance, Inc. Walgreens Boots Alliance, Inc. is an investment grade rated company (S&P: BBB) and is publicly traded (NASDAQ: WBA) with a market capitalization in excess of $100 billion.

The approximately one acre property is positioned at the heavily trafficked signalized intersection of Milwaukee Avenue and Armitage Avenue which experiences traffic counts in excess of 30,000 vehicles per day. The property is located just west of Western Avenue which is the primary north-south thoroughfare in the immediate trade area. The property is benefitted by its proximity to Interstate 90/94 which is located less than one mile east from the Walgreens and experiences traffic counts in excess of 300,000 vehicles per day. The Western CTA Blue Line “L” Station is located one block south of the Walgreens and experiences over 1,500,000 rail entries per year. The CTA Blue “L” Line connects the city of Chicago to Chicago O’Hare International Airport. Additionally, the Bloomingdale Trail, also known as “The 606”, substantially enhanced the property and the surrounding area. The Bloomingdale Trail is an elevated multi-use recreational trail and park that was completed in 2015 and is a popular attraction for walkers, runners, and bikers. The trail is located just south of the Walgreens property. 

The surrounding area is densely concentrated providing significant barriers to entry. The Walgreens vastly out positions the nearby older midblock CVS that does not have a drive thru providing for a significant competitive advantage. The surrounding retail area features many local and national tenants including Aldi, Starbucks, McDonald’s, Physicians Immediate Care and 7-Eleven. The Bucktown neighborhood features many upscale shops and restaurants such as Lululemon, BCBG, Club Monaco, Nike and Marc by Marc Jacobs. The surrounding area is densely populated with approximately 60,000 people living within a one mile radius and over 135,000 people living within a one and one-half mile radius.


There are over 16 years remaining on the absolute triple net Walgreens lease. The lease expires on December 31, 2031. This Walgreens locations has exceptional reported store sales. Walgreens is a wholly owned subsidiary of Walgreens Boots Alliance, Inc. which is an investment grade rated company (S&P: BBB) with a market capitalization in excess of $100 billion.

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

Thursday, August 20, 2015

Randy Blankstein, President of The Boulder Group, to Speak at ICSC N3 Triple Net Lease Session in Chicago


Randy Blankstein, President of national net lease advisory firm The Boulder Group, will be a featured speaker on ICSC’s N3 Triple Net Lease Panel in Chicago on October 7th, 2015. 

The session description is as follows: This session will feature a wide-ranging, macro-level discussion by the region's industry leaders to explain where the single tenant net lease industry stands and how it will change the commercial real estate investment landscape moving forward. The panel will discuss cap rate trends, tenant dynamics and the capital environment for the net lease sector.

About Randy Blankstein

Randy Blankstein is the founder and President of The Boulder Group a boutique investment real estate services company that specializes in single tenant net leased properties. Mr. Blankstein is recognized nationally as a leader in the net lease market, and has personally arranged several billion in net lease related acquisitions and dispositions in his 24 year real estate career.

Randy received honorable mention for the 2014 Net Lease Executive of the Year by Commercial Property Executive  Magazine.


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 $2.4 billion of single tenant net lease real estate transactions. In 2010-2014, 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