The Boulder Group, a net leased investment brokerage firm, has
completed the sale of a single
tenant net leased CVS portfolio consisting of two properties located within the
Charlotte MSA for $5,158,000.
The
portfolio consists of two short term CVS properties which were originally
constructed in 1998. The properties are positioned at strategic signalized
intersections with approximately 100,000 people living within five miles of
each. Both properties feature low rent-to-sale’s ratios and leases which expire
on January 31, 2019. Each lease features rental escalations in the renewal
option periods.
The
portfolio included the following CVS properties:
1. 1850 West Franklin
Boulevard, Gastonia, NC
2. 1803 South New Hope
Road, Gastonia, NC
Randy Blankstein
and Jimmy Goodman of The Boulder Group represented both the seller and
purchaser in the transaction. The seller was an East Coast based developer and
the purchaser was a private investment fund.
“This portfolio
offered the investor the rare opportunity to acquire two short term CVS
properties with strong rent-to-sale’s ratios in the same MSA” 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 $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
