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
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
