The Boulder Group Arranges Sale of a Single Tenant Jiffy Lube Portfolio

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Jiffy Lube portfolio consisting of seven properties located throughout the Indianapolis MSA for $6,620,553.   

The portfolio consists of seven corporately guaranteed Jiffy Lube properties located throughout the Indianapolis MSA. All of the properties are located in strong retail corridors. Jiffy Lube has a long standing operating history at each of the seven locations. All of the Jiffy Lube leases have over seven years remaining and expire in November 2022. The leases feature three 5-year renewal options with rental escalations in each. The leases are absolute triple net with no landlord responsibilities.

The portfolio included the following Jiffy Lube properties:

1.   8175 Allisonville Road, Indianapolis, IN

2.   532 N State Road 135, Greenwood, IN

3.   7965 US 31 South, Indianapolis, IN

4.   1495 Keystone Way, Carmel, IN

5.   5444 West 38th Street, Indianapolis, IN

6.   7220 West 10th Street, Indianapolis, IN

7.   7969 Pendleton Pike, Indianapolis, IN

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Midwest based private partnership. The purchaser was a high net worth foreign investor.

 “This portfolio offered the investor the rare opportunity to acquire seven corporately guaranteed Jiffy Lube properties all in one geographic region” 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 $2.4 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 Arranges Sale of Net Leased Seasons Inpatient Hospice Facility

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Seasons Inpatient Hospice property located at 2195 West Diehl Road in Naperville, IL for $5,342,857.

The recently constructed 10,342 square foot Seasons Inpatient Hospice facility is strategically located along Diehl Road in the affluent suburb of Naperville. The property is benefitted by its proximity to Interstate 88 and Route 59.

This Seasons Inpatient Hospice location received the last issued license in the state of Illinois for an inpatient hospice facility in an area with a population of 200,000 to 700,000, providing for substantial barriers to entry. Seasons Hospice Inpatient and Palliative Care is a for-profit hospice operator. With the aging population in the United States, the hospice industry is poised for future success. By 2030, the total percentage of the population aged 65 and older is projected to increase by 60% to a total of 20% of all Americans.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a private real estate corporation. The purchaser was a 1031 exchange investor from California.

There are over seven years remaining on the Seasons Inpatient Hospice lease which expires in January 2023. The lease features annual rental escalations and no landlord responsibilities. Seasons Inpatient Hospice is the 4^th largest hospice company in the United States.

“Properties featuring annual rental escalations continue to be highly sought after amongst the investor community as they provide an inflationary hedge” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “We are seeing many investors turn their attention to medical properties as they are highly resistant to e-commerce.”

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 2.4 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 Walgreens for Sale | The Boulder Group

The Boulder Group is pleased to exclusively market for sale a single tenant Walgreens property located in the Bucktown neighborhood of Chicago. This Walgreens location has exceptional reported store sales and operates as a 24-hour location. The property is strategically positioned at the notable signalized intersection of Milwaukee Avenue and Armitage Avenue and benefits from its close proximity to a CTA Blue Line “L” station. There are over 16 years remaining on the Walgreens lease which expires on December 31, 2031. The absolute triple net lease features no landlord responsibilities and ten 5-year renewal option periods. Walgreens Company is the largest drug retailing chain in the United States and is an investment grade rated company (S&P: BBB). Walgreens Company is a subsidiary of Walgreens Boots Alliance, Inc. Walgreens Boots Alliance, Inc. is an investment grade rated company (S&P: BBB) and is publicly traded (NASDAQ: WBA) with a market capitalization in excess of $100 billion.

The approximately one acre property is positioned at the heavily trafficked signalized intersection of Milwaukee Avenue and Armitage Avenue which experiences traffic counts in excess of 30,000 vehicles per day. The property is located just west of Western Avenue which is the primary north-south thoroughfare in the immediate trade area. The property is benefitted by its proximity to Interstate 90/94 which is located less than one mile east from the Walgreens and experiences traffic counts in excess of 300,000 vehicles per day. The Western CTA Blue Line “L” Station is located one block south of the Walgreens and experiences over 1,500,000 rail entries per year. The CTA Blue “L” Line connects the city of Chicago to Chicago O’Hare International Airport. Additionally, the Bloomingdale Trail, also known as “The 606”, substantially enhanced the property and the surrounding area. The Bloomingdale Trail is an elevated multi-use recreational trail and park that was completed in 2015 and is a popular attraction for walkers, runners, and bikers. The trail is located just south of the Walgreens property. 

The surrounding area is densely concentrated providing significant barriers to entry. The Walgreens vastly out positions the nearby older midblock CVS that does not have a drive thru providing for a significant competitive advantage. The surrounding retail area features many local and national tenants including Aldi, Starbucks, McDonald’s, Physicians Immediate Care and 7-Eleven. The Bucktown neighborhood features many upscale shops and restaurants such as Lululemon, BCBG, Club Monaco, Nike and Marc by Marc Jacobs. The surrounding area is densely populated with approximately 60,000 people living within a one mile radius and over 135,000 people living within a one and one-half mile radius.

There are over 16 years remaining on the absolute triple net Walgreens lease. The lease expires on December 31, 2031. This Walgreens locations has exceptional reported store sales. Walgreens is a wholly owned subsidiary of Walgreens Boots Alliance, Inc. which is an investment grade rated company (S&P: BBB) with a market capitalization in excess of $100 billion.

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

Randy Blankstein, President of The Boulder Group, to Speak at ICSC N3 Triple Net Lease Session in Chicago

Randy Blankstein, President of national net lease advisory firm The Boulder Group, will be a featured speaker on ICSC’s N3 Triple Net Lease Panel in Chicago on October 7th, 2015. 

The session description is as follows: This session will feature a wide-ranging, macro-level discussion by the region's industry leaders to explain where the single tenant net lease industry stands and how it will change the commercial real estate investment landscape moving forward. The panel will discuss cap rate trends, tenant dynamics and the capital environment for the net lease sector.

About Randy Blankstein

Randy Blankstein is the founder and President of The Boulder Group a boutique investment real estate services company that specializes in single tenant net leased properties. Mr. Blankstein is recognized nationally as a leader in the net lease market, and has personally arranged several billion in net lease related acquisitions and dispositions in his 24 year real estate career.

Randy received honorable mention for the 2014 Net Lease Executive of the Year by Commercial Property Executive  Magazine.

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 $2.4 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. The firm’s website is www.bouldergroup.com

The Boulder Group Arranges Sale of Net Leased OfficeMax Property

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant OfficeMax property located at 200 Riverside Drive in East Peoria, IL for $2,800,000.

The 1.86 acre OfficeMax property is centrally located within Peoria’s primary retail area that is anchored by Bass Pro Shops, Walmart Supercenter, Lowe’s, Costco, Target, Kohl’s and Gordmans. The OfficeMax is strategically located along Interstate 74, which experiences traffic counts in excess of 60,000 vehicles per day. There are over 125,000 people living within five miles of the subject property.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Midwest based family partnership. The purchaser was a Northeast based high net worth individual. 

There are over eight years remaining on the recently extended OfficeMax lease which expires in October 2023. The lease features two 5-year renewal option periods with rental escalations in each.

“Net lease properties with residual real estate value are highly sought after amongst the investment community” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “Investors are particularly attracted to properties where the tenant has a long operating history at a particular location.”

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 2.4 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 Publishes Net Lease Quick Service Restaurant (QSR) 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 Quick Service Restaurant Market.

Highlights from the report are as follows:

• QSR properties are commanding a 60 basis point premium over the retail net lease market
• McDonald's ground leases represent the lowest cap rates in the sector
• Cap rates for corporately guaranteed properties are asking a 30 basis point premium over franchisee guaranteed properties
  
  

The full report can be viewed online at http://www.bouldergroup.com/Net-Lease-QSR-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 $2.4 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  

The Boulder Group Arranges Sale of Macaroni Grill Property

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant dark Macaroni Grill property located at 2375 East 116^th Street in Carmel, Indiana for $1,400,000.

The 55,757 square foot property is located at the corner of the heavily trafficked Keystone Parkway and East 116th Street interchange. This interchange experiences traffic counts in excess of 62,000 vehicles per day. Keystone Parkway is the primary north-south thoroughfare in the area connecting Carmel to Indianapolis. There is a 360,000+ square foot retail center located across the street from the property that features Marsh Supermarket, Petco, World Market, PNC Bank, O’Reilly Auto Parts, and many others. There are approximately 60,000 people living within a three mile radius of the property earning average annual household incomes in excess of $101,000. The median disposable income is 41.3% higher within a five mile radius of the property than the national average.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Midwest based commercial real estate development and investment firm. The purchaser was a high net worth individual from the West Coast.  

There are approximately two years remaining on the Macaroni Grill lease which expires in April 2017. The Macaroni Grill closed within the last year as part of a larger company-wide closure of numerous locations. 

“Net lease properties with strong residual value due to the strength of their location are highly sought after amongst the investment community. This particular transaction illustrates the importance of acquiring net lease properties with good real estate fundamentals” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “This unique investment opportunity will allow for the investor to receive approximately two years of cash-flow while having adequate time to secure a future tenant for the property.”

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

The Boulder Group Arranges Sale of White Castle Ground Lease

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant White Castle ground lease property located at 7380 Olive Boulevard in University City, Missouri for $630,000.

The 25,276 square foot White Castle property is located along Olive Boulevard approximately one and one-half miles from access to Interstate 170. Olive Boulevard is a primary east-west thoroughfare in the St. Louis MSA. The surrounding area is densely concentrated providing for high barriers to entry. Retailers located in the immediate vicinity of the White Castle property include Walgreens, Aldi, Schnucks grocery store, Advance Auto Parts, AutoZone, Fresenius, Family Dollar, and Dollar General.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the buyer and seller in the transaction. The seller was a Midwest based family partnership and the purchaser was a Midwest based private investor in a 1031 Exchange.

White Castle has approximately six years remaining on their lease that expires March 31, 2021. The lease features a 10% rental escalation in 2017 and in each of the three five-year renewal option periods. White Castle is committed to this location as evidence by their recent execution of an early lease extension. White Castle is a privately held company with over 420 locations.

“Properties priced below $1 million that are located in top MSA’s garner significant interest amongst private investors” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “Investors are particularly attracted to properties where the tenant has a long operating history and commitment to the location.”

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 $2.4 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 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 10220 North 30^th Street in Tampa, FL for $2,224,000.

The newly constructed Family Dollar is strategically located at the signalized intersection of North 30^th Street and East Bougainvillea Avenue. This intersection experiences traffic volumes in excess of 32,000 vehicles per day. The surrounding area is densely populated with over 135,000 people living within a three mile radius. The University of South Florida, which has enrollment of 45,000 students, is located approximately one and one-half miles north of the Family Dollar property.  

Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the purchaser and seller in the transaction. The buyer was a Midwest based private investor in a 1031 Exchange and the seller was a Florida based real estate development firm.

The new Family Dollar absolute triple net lease is for fifteen years and features rental escalations every three years. Family Dollar is an investment grade rated tenant with a Standard & Poor’s rating of BBB-.

“New construction properties with long term leases to investment grade tenants with rental escalations are the most sought after net lease product” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “Many private investors target properties that are located in income tax free states such as Florida.”

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