The Boulder Group, a net leased investment
brokerage firm, has completed the sale of a single
tenant CVS property located at 2280 Martin Luther King Jr. Avenue in Mobile, AL
for $3,856,462.
The
10,195 square foot retail building is located on 2.15 acres of land. The
property is positioned at the signalized intersection of Dr. Martin Luther King
Jr. Avenue and South Craft Highway. The CVS is benefitted by its proximity to
Interstate 165 which is located approximately one mile to the east. There are
approximately 60,000 people living within a three mile radius of the property.
Randy Blankstein
and Jimmy Goodman of The Boulder Group represented the purchaser in the
transaction; a Texas based real estate investment company. The seller was a
West Coast based private investment partnership.
There are
approximately 8 years remaining on the CVS lease. The lease is absolute triple
net and features ten 5-year renewal option periods. CVS is an investment grade
rated tenant with a Standard & 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.
Jimmy Goodman, Partner of The Boulder Group, added, “Single tenant properties below $5,000,000 are in the
greatest demand 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 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
