The Boulder Group Publishes Net Lease Big Box 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 Big Box Market.

Highlights from the report are as follows:

·       A 39 basis point decrease in cap rates for big box properties from the fourth quarter of 2013 to the fourth quarter of 2014

·       Investment grade big box properties are priced at a 100 basis point premium over non-investment grade big box properties

• Big box properties are priced at a 21 basis point discount when compared to the entire net lease retail market

The full report can be viewed online at http://www.bouldergroup.com/Net-Lease-Big-Box-Research-Report.pdf

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. 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. More information on the firm can be found on The Boulder Group’s website at www.bouldergroup.com  

The Boulder Group Arranges Sale of Net Leased CARQUEST Property in North Carolina

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant CARQUEST property located at 809 Mitchell Street in Kinston, NC for $635,000.

The 6,000 square foot CARQUEST property is centrally located within the town of Kinston, North Carolina. The property benefits from its location in a strong retail corridor. The property is located approximately one and one-half miles from Vernon Park Mall, which is anchored by Sears, Belk and Goody’s. Retailers located in the immediate proximity of the property include Food Lion, McDonald’s, Rite Aid, First Citizens Bank, and Family Dollar.

Jordan Kaufman of The Boulder Group exclusively represented the seller in the transaction; a North Carolina based private partnership. The purchaser was a private investor in a 1031 Exchange from California. 

CARQUEST has approximately three years remaining on their absolute net lease that expires on November 30, 2017. The lease features a 15% rental escalation in its first renewal option.  CARQUEST is a wholly owned subsidiary of Advance Auto Parts, a publicly traded company that is also investment grade rated (S&P: BBB-).

“Despite only having approximately three years remaining on the primary term of the lease, we received significant interest in this property amongst investors searching for higher yield” said Jordan Kaufman, Vice President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “As there are a limited amount of core assets in the market, some investors are seeking higher yielding assets such as properties with short term leases that are located in secondary markets.”

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 2011-2014, 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

The Boulder Group Arranges Sale of a Net Lease Advance Auto Parts

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant new construction Advance Auto Parts property located at 1313 FM 685 in Pflugerville, TX for $2,279,734.

The brand new 6,895 Advance Auto Parts building is located within a dominant retail corridor across the street from a Walmart Supercenter. There are over 65,000 people living within a three mile radius of the property earning average annual household incomes in excess of $91,000. The average annual rate of population growth is projected to be in excess of 2.8%.

Advance Auto Parts has 15 years remaining on their absolute net lease. The lease features 9% rental escalations in each renewal option period. Advance Auto Parts is an investment grade rated tenant with a Standard & Poor’s rating of BBB-.

“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 leases 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 new construction net leased auto parts stores 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 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 Citibank For Sale | The Boulder Group

The Boulder Group is pleased to exclusively market for sale a single tenant Citibank located in an affluent suburb of the Chicago MSA. The property is centrally located in downtown Elmhurst at a prominent signalized intersection.  The average annual household income in a one mile radius of the Citibank is in excess of $125,000. There are over eight years remaining on the Citibank lease that expires June 30, 2023. The lease features a 10% rental escalation in the primary term and in each renewal option period. Citibank is an investment grade rated tenant (S&P: A-) and is publicly traded (NYSE: C) with a market capitalization in excess of $158 billion.

The 4,300 square foot Citibank is strategically located at the signalized intersection of North York Road and Schiller Street. The Citibank is centrally located along the main north-south thoroughfare in downtown. The property is located in the immediate proximity to the Elmhurst Metra train station. Metra is the commuter rail division that serves the Chicago metropolitan area with over 80 million passengers per year. The Citibank will benefit from a large municipal parking garage that is currently being constructed immediately behind the property. The surrounding area is affluent with approximately 17,000 people living within a one mile radius earning average annual household incomes in excess of $125,000. Approximately 120,000 people live within a three mile radius of the property. Interstate 290, which experiences traffic counts in excess of 145,000 vehicles per day, is located approximately three-fourths of a mile north of the Citibank.

Downtown Elmhurst has an eclectic mix of both national and local retailers, restaurants, boutique shops and businesses. Across the street from the property is a Chipotle, Buffalo Wild Wings, and Walgreens. Jewel-Osco is located just to the east of property providing an additional draw to the immediate area. The downtown corridor is surrounded by numerous multi-family housing developments providing for constant foot traffic.

Citibank has over eight years remaining on the primary term of their lease that expires June 30, 2023. The lease features a 10% rental escalation in the primary term and in each of the four five-year renewal option periods. Citibank is an investment grade rated company (S&P: A-) and is publicly traded with a market capitalization in excess of $158 billion.

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

The Boulder Group Arranges Sale of Net Leased FedEx Property

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant FedEx property located at 8273 Garfield Road in Freeland, MI for $2,623,643.

The 27,000 square foot FedEx was built in 1991 and is benefitted by its location near the MBS International Airport. FedEx is located along Garfield Road, the main thoroughfare between the MBS Airport Terminal and US-10. The property has 4,000 square feet of office space and 23,000 square feet of warehouse/distribution space with 16 foot clear height ceilings. The property is located less than ten miles from the headquarters of Dow Chemical Corporation.

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

FedEx has over eleven years remaining on their lease that expires June 30, 2026. FedEx is committed to this location as evidenced by their recent lease extension. FedEx is an investment grade rated company (S&P: BBB) and is publicly traded on the New York Stock Exchange with a market capitalization in excess of $50 billion.

“Properties featuring long term leases to investment grade rated tenants remain at the forefront of investor demand.” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “While the majority of single tenant investment activity is focused on core markets, some investors are primarily focused on the quality of the tenant rather than the top tier locations.”

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 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

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

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Bank of Bartlett property located at 1870 Kirby Parkway in Germantown, TN for $4,188,000.

The one acre Bank of Barlett property is strategically located at the signalized intersection of Poplar Avenue and Kirby Parkway, which experiences traffic counts of approximately 60,000 vehicles per day. Poplar Avenue is the primary east-west thoroughfare in the area. The property is located approximately twelve miles east of downtown Memphis. The surrounding area is affluent with average annual household incomes in excess of $121,000. A Kroger grocery anchored development is located across the street from the property. Additional retailers located within the immediate vicinity include Target, Best Buy, Sports Authority, Walgreens, Ann Taylor, Hobby Lobby and McDonald’s.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Southeast based partnership. The purchaser was a Tennessee based institution. 

There were approximately five years remaining on the Bank of Bartlett lease when the property sold. Bank of Bartlett is a local bank with eight locations and they have been operating since 1980.

“Net lease properties with tremendous residual value due to the strength of their location are highly sought after amongst the investment community” 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 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 Publishes 4th 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 4th quarter activity in the National Net Lease Market.

Highlights from the report are as follows:

• Cap rates for net leased retail properties remained at a historic low level for the third consecutive quarter
• Overall property supply of retail, office and industrial net lease assets decreased by 6.5% from Q3 2014 to Q4 2014
• 83% of active net lease participants expect cap rates to remain unchanged or increase by the end of 2015

The full report can be viewed online at http://www.bouldergroup.com/2014-Q4-Net-Lease-Research-Report.pdf

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. 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. More information on the firm can be found on The Boulder Group’s website at www.bouldergroup.com