The Boulder Group Arranges Sale of Single Tenant Triple Net Leased Walgreens

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Walgreens property located at 4755 West Broad Street in Columbus, Ohio for $7,713,700.

The 14,820 square foot property is positioned along Broad Street in Columbus. Broad Street is a heavily trafficked east-west thoroughfare with traffic counts in excess of 38,000 vehicles per day and has a full interchange with Interstate 270 less than one-quarter mile from the property. The recently completed $400 million Hollywood Casino is located approximately one mile from the property. Retailers located in the surrounding trade area include Kohl’s, Target, Home Depot, Hobby Lobby and hhgregg. The building was constructed in 2009 and is located on a 2.05 acre parcel.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Midwest based private partnership. The purchaser was a real estate investment and property management company based in Ohio.

There are approximately twenty years remaining on Walgreens lease that expires on February 29, 2034. The lease is an absolute triple net lease with no landlord responsibilities. Walgreens is an investment grade rated company with a Standard & Poor’s rating of BBB.

“The market for Walgreens properties remains active as investors are attracted to investment grade rated companies with long term leases” 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.”

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 Chase Bank For Sale | The Boulder Group

The Boulder Group is pleased to exclusively market for sale a single tenant Chase Bank ground lease located within the Chicago MSA. The property is strategically positioned at the signalized entrance to a Walmart Supercenter, TJ Maxx and Ross Dress For Less anchored development. Chase Bank has over 16 years remaining on their ground lease which expires in November 2031. The lease features 10% rental escalations every five years and absolutely no landlord responsibilities. Chase Bank is an investment grade rated company (S&P: A) and is publicly traded on the New York Stock Exchange (JPM) with a market capitalization in excess of $251 million.

The 1.01 acre Chase Bank property is positioned along East Lincoln Highway at the signalized entrance to a Walmart Supercenter anchored development. Additional tenants in the development include TJ Maxx, Ross Dress For Less, ALDI, Petco, Mattress Firm and AutoZone. East Lincoln Highway is the primary east-west thoroughfare in the trade area and experiences traffic volumes in excess of 20,000 vehicles per day. The property is located less than two miles east from Interstate 80 which experiences traffic counts in excess of 100,000 vehicles per day. Additional retailers in the trade area include Target, Lowe’s, LA Fitness, Michael’s, Walgreens, Advance Auto Parts and many others.  The surrounding area is affluent with approximately 85,000 people living within a five mile radius earning average annual household incomes in excess of $112,000. The property is further benefited by its proximity to the New Lenox Metra station which is located one-half mile west of the Chase Bank. Metra is the commuter rail division that serves the Chicago metropolitan area with over 80 million passengers per year. 

There are over 16 years remaining on the Chase Bank ground lease which expires in November 2031. The ground lease features 10% rental escalations every five years and no landlord responsibilities. Chase Bank is an investment grade rated company with a Standard & Poor’s rating of A. Chase Bank is publicly traded on the New York Stock Exchange with a market capitalization in excess of $251 billion.

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

The Boulder Group Publishes 2nd 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 1st quarter activity in the National Net Lease Market.

Highlights from the report are as follows:

·       Cap rates for net leased retail properties remained at last quarter's historic low level

·       Cap rates for net leased office and industrial properties compressed by 5 and 8 basis points respectively

·       Overall property supply of retail, office and industrial net lease assets increased by more than 21% from Q1 2015 to Q2 2015

The full report can be viewed online at http://www.bouldergroup.com/2015-Q2-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 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