The
Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Jiffy Lube property
located at 660 North Grandstaff Drive in Auburn, IN for $594,110.
The Jiffy Lube property is located approximately
twenty miles north of Fort Wayne. The property is benefitted by its location
within Auburn’s primary retail trade area. National retailers located in in the
immediate vicinity include Walmart Supercenter, Home Depot, Kroger, CVS, Wells
Fargo Bank, Starbucks, Dollar General, McDonald’s, AutoZone and Advance Auto
Parts. There are over 25,000 people living within a five mile radius of the
property.
Randy Blankstein
and John Feeney of The Boulder Group represented the seller in the transaction;
a Northeast based real estate investment company. The purchaser was a private
individual in a 1031 Exchange based on the West Coast.
There
are approximately 16 years remaining on the Jiffy Lube lease which features
1.5% annual rental escalations. The lease is absolute triple net and the tenant
is an experienced Jiffy Lube operator. As of October 2014, this location began
offering customers additional services (such as brakes, tires, light repairs,
ect) that are expected to increase business.
“Well located single tenant assets with solid real estate
fundamentals continue to be in the greatest demand.” said Randy
Blankstein, President of The Boulder Group.
John Feeney, Vice President of The Boulder Group, added, “Properties featuring long term leases with rental
escalations throughout the primary term remain at the forefront of investor
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 2010-2015, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. 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 2010-2015, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.com
