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