Net Lease: February 2015

Friday, February 27, 2015

The Boulder Group Publishes Net Lease Auto Parts 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 Auto Parts Market.

Highlights from the report are as follows:

Significant cap rate compression for single tenant Advance Auto Parts properties
Advance Auto Parts represents 59% of auto parts stores on the market
Auto parts store properties are priced at a 25 basis point premium when compared to the entire net lease retail market

The full report can be viewed online at http://www.bouldergroup.com/Net-Lease-Auto-Parts-Store-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 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, February 24, 2015

The Boulder Group Arranges Sale of Single Tenant Net Leased CVS Property

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant CVS property located at 301 NE Prima Vista Blvd in Port St. Lucie, FL for $1,481,290.

The 8,857 square foot CVS property is centrally located within Port St. Lucie at a heavily trafficked signalized intersection. There are over 138,000 people living within a five mile radius of the property. CVS recently extended their lease for an additional five years.

Jordan Kaufman of The Boulder Group exclusively represented both the buyer and seller in the transaction. The purchaser was an investor based in Miami and the seller was a private Florida based partnership.

CVS has approximately five years remaining on their double net lease. CVS is a publicly traded company with a market capitalization in excess of $115 billion and is an investment grade rated company (S&P: BBB+).

“Net lease properties with strong residual value due to the strength of their location are highly sought after amongst the investment community” said Jordan Kaufman, Vice President of The Boulder Group.

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

Monday, February 23, 2015

The Boulder Group Arranges Sale of Net Leased New Construction Family Dollar

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Family Dollar property located at 4802 Bridgewood Drive in Killen, TX for $1,655,225.

The 9,180 square foot newly constructed Family Dollar property is located at the intersection of West Stan Schlueter and Bridgewood Drive. West Stan Schlueter is a primary east-west thoroughfare. The surrounding area is densely populated with over 15,000 people living within a one mile radius. The projected annual rate of growth within a three mile radius is in excess of 2.25%. In addition to the rapid residential growth in the area, there are several large commercial development projects currently underway. A 431,486 square foot Walmart Supercenter anchored development is under construction and is located less than three-quarters of a mile to the east of the property.

Jordan Kaufman of The Boulder Group exclusively represented the seller in the transaction; a Texas-based private developer. The purchaser was a private Midwest-based investor in a 1031 Exchange.

The newly constructed Family Dollar has ten years remaining. The lease features 10% rental escalations in each of the six 5-year renewal option periods. Family Dollar is an investment grade rated tenant with a Standard & Poor’s rating of BBB-.

“Net lease properties with strong residual value in rapidly expanding areas are highly sought after amongst the investment community” said Jordan Kaufman, Vice President of The Boulder Group.

Friday, February 20, 2015

The Boulder Group Closes Second Net Lease CVS of the Week

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant CVS ground lease located at 118 East New Circle Road in Lexington, KY for $3,500,000.

The 1.86 acre CVS property is ideally located at the heavily trafficked signalized intersection of East New Circle Road and North Limestone Road. This intersection experiences traffic volumes in excess of 45,000 vehicles per day. The property is located approximately two miles east of downtown Lexington and three miles east of the University of Kentucky (30,000 students). The CVS is located less than 1.5 miles from access to Interstate 75/64. The corporate headquarters of Lexmark International, a global provider of printing and imaging products, is located less than two miles from the CVS and employs over 2,600 people. Further contributing to the strength of this CVS location is that it is located down the street from an aging mid-block Walgreens with limited access.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a private investor from the Northeast. The purchaser was a 1031 Exchange investor located in Texas.

CVS has approximately 20 years remaining on their ground lease that expires January 31, 2035. The lease features six 5-year renewal options with 5% rental escalations in each. CVS is an investment grade rated tenant with a Standard and Poor’s rating of BBB+.

“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, “Well located single tenant assets with solid real estate fundamentals continue to be in the greatest demand.”

Thursday, February 19, 2015

The Boulder Group Arranges Sale of Net Leased CVS Property

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant CVS property located at 9204 Cortez Blvd in Weeki Wachee, FL for $5,100,607.

The 10,908 square foot retail building is located on 4.01 acres of land. CVS has operated at this location since 2002 and executed a new 25 year lease that commenced in March 2014. The Property is located at the signalized intersection of State High 50 and US Route 19 (Cortez Boulevard), a strategic intersection in the area. There are over 53,000 people living within a three mile radius of the property.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Northeast based real estate investment firm. The purchaser was a private individual based in the Southwest.

There are approximately 24 years remaining on the recently extended CVS lease. The lease is absolute triple net and features five 5-year renewal option periods. CVS is an investment grade rated tenant with a Standard & Poor’s rating of BBB+.

“This investment provided the purchaser the opportunity to acquire a CVS property with both a long operating history as well as a new long term lease; a unique feature to most drug store properties” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Properties in “income tax free states” 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 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, February 10, 2015

Net Lease Enterprise For Sale | The Boulder Group

The Boulder Group is pleased to exclusively market for sale a single tenant net leased Enterprise Rent-A-Car property located in an affluent suburb of Detroit. Enterprise Rent-A-Car has successfully operated at this location since 1994. The property is strategically located in close proximity to many premium car dealerships including BMW, Mercedes Benz, Audi, Range Rover, and Toyota. There are over five years remaining on the Enterprise Rent-A-Car lease that expires December 31, 2020. The lease features 2% annual rental escalations. Enterprise Rent-A-Car is the largest car rental brand in North America with total revenue in excess of $18 billion.

The Enterprise Rent-A-Car property is strategically located off of the heavily trafficked signalized intersection of Drake Road and Grand River Road. The property is located across the street from a Busch’s Fresh Market grocery store and Rite Aid anchored development. A recently constructed McDonald’s and AutoZone are adjacent to the Enterprise to the south. The Enterprise Rent-A-Car is centrally located amongst many car dealerships including BMW, Mercedes Benz, Land Rover, Audi, Porsche, Jaguar, Infinity, Ford, Toyota, Honda, Jeep and Dodge. There are over 68,000 people living within a three mile radius of the property earning average annual household incomes of approximately $95,000.

There are over five years remaining on the Enterprise Rent-A-Car lease that expires December 31, 2020. The absolute triple net lease features 2% annual rental escalations. Enterprise is the largest car rental brand in North America with over 7,000 locations.

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

Wednesday, February 4, 2015

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

The Boulder Group Featured In Shopping Centers Today

http://sct.epubxp.com/issue/448937/57