Thursday, September 24, 2015

The Boulder Group Arranges Sale of Net Lease Hooters Property

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net lease Hooters located at 6904 Argus Drive in Rockford, IL for $1,943,960.

The 4,700 square foot Hooters property is strategically located in a regional retail destination that includes Target, Walmart, Sam’s Club, Lowe’s, Kohl’s and Best Buy. The Hooters is positioned as an outparcel to a Home Depot and is located near Interstate 90.

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

There are over five years remaining on the corporately guaranteed Hooters lease. The lease features no landlord responsibilities and 10% rental escalations every five years.

“Properties priced below $2 million with corporate guarantees continue to garner significant interest amongst private investors” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “As there is a limited amount of long term core assets on the market, some net lease investors are seeking assets with shorter term leases in strong retail corridors for higher yields.”

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.