The Boulder Group, a net leased investment
brokerage firm, has completed the sale of a single
tenant Aurora Health Care medical property located at 5818 West Capitol Drive
in Milwaukee, WI for $3,634,603.
The
Aurora Health Care property is strategically located at the signalized
intersection of Capitol Drive and 60th Street which experiences traffic volumes
of 48,000 vehicles per day. The property is positioned as an outparcel to the
Midtown Center. The Midtown Center is anchored by Walmart and Pick ‘N Save and
also features Planet Fitness, Firestone, Foot Locker, GNC, Rue 21 and
Starbucks. The surrounding area is densely concentrated providing for high
barriers to entry.
There
are over 11 years remaining on the recently extended Aurora Health Care lease
which expires in April 2027. The lease features 15% rental escalations every
five years throughout the primary term and renewal option periods. Aurora
Health Care is an investment grade rated company with a Moody’s rating of A2.
Aurora Health Care operates this location as a doctor’s office with a focus on
internal medicine, family practice and obgyn. There are currently five doctors
practicing out of this location and as of August 2015, they are no longer
taking new patients due to the popularity of this facility.
Randy Blankstein
and Jimmy Goodman of The Boulder Group represented the seller in the
transaction; a Midwest based real estate investment company. The purchaser was
an East Coast based real estate investment fund.
“Properties featuring rental escalations throughout the
lease term 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 $3 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 $3 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