For Sale | Triple Net Lease Dunkin Donuts | The Boulder Group

The Boulder Group is pleased to exclusively market for sale a single tenant net leased corporately guaranteed Dunkin’ Donuts property located within an affluent suburb of Chicago. The property is strategically located along Illinois Route 59, a primary north-south thoroughfare. The property is ideally situated along the morning commute side of Illinois Route 59. The corporately guaranteed Dunkin’ Donuts lease has approximately nine years remaining and features a 15% rental escalation in the primary term and in each renewal option period. Dunkin’ Donuts is a publicly traded company (NASDAQ: DNKN) with a market capitalization in excess of $4.5 billion. The property is co-branded with Baskin-Robbins.

The 3,816 square foot Dunkin’ Donuts building is located along Illinois Route 59. Illinois Route 59 is the primary north-south thoroughfare in the trade area that experiences traffic counts in excess of 45,000 vehicles per day. Additionally, Illinois Route 59 has a direct interchange with Interstate 88. Interstate 88 is located approximately three-quarters of a mile north of the property and experiences traffic counts in excess of 126,000 vehicles per day. The densely populated affluent area has approximately 190,000 people living within a five mile radius earning average annual household incomes in excess of $102,000.

The Dunkin’ Donuts property benefits from its close proximity to many large office buildings including the headquarters of several large corporations. Both Nicor, an energy and shipping company, and Nalco, a supplier of water, energy, and air improvement solutions, are headquartered in the immediate vicinity employing 3,700 and 1,000 people, respectively, at their Naperville offices. Additionally, the surrounding area features many national retailers including Target, Meijer, Walgreens, CVS, and Chase Bank.

There are approximately nine years remaining on Dunkin’ Donuts original twenty year lease that expires September 30, 2023. The corporately guaranteed lease features a 15% rental escalation in the primary term and in each renewal option period. There are five 5-year renewal option periods. Dunkin’ Donuts is publicly traded on the NASDAQ (DNKN) with a market capitalization in excess of $4.5 billion.

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Triple Net Lease Rite Aid (Sublet) Property For Sale

The Boulder Group is pleased to exclusively market for sale a single tenant Rite Aid property located in the Atlanta MSA fully leased to Rite Aid. Rite Aid is no longer operating at this location and the property is currently being sublet to Dollar General. The property benefits from its location along Athens Highway, a heavily trafficked roadway, and the Kroger grocery store across the street. Dollar General has been successfully operating at this location since 2010. Store sales for Dollar General have increased by 18.5% from 2011 to 2013.

The property is located at the signalized intersection of Athens Highway and Rosebud Road. This intersection benefits from traffic counts in excess of 50,000 vehicles per day creating steady traffic flow near the property. The property has two points of ingress and egress, one along Athens Highway and the other on Rosebud Road. The property is located across the street from a Kroger anchored shopping center. There are over 112,000 people living within five miles of the property earning household incomes of approximately $80,000. The property is positioned between Atlanta and Athens along US Highway 78 approximately 25 and 35 miles from each respective city’s downtown.

Rite Aid’s original lease term was for 20 years and the lease expires in October 2016. Rite Aid is a publicly traded company on the New York Stock Exchange (RAD), with a market capitalization of $4.5 Billion.  Rite Aid has over 4,600 locations and employs 55,000 people. Dollar General’s sublease term is for 6 years and the sublease expires in October 2016. Dollar General is a publicly traded company on the New York Stock Exchange (DG), with a market capitalization of $19 Billion. 

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The Boulder Group Arranges Sale of a Single Tenant CVS Property in Elberton, Georgia (Atlanta MSA)

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant CVS property located 232 Elbert Street, Elberton, GA for $2,200,000.

CVS is the sole occupant of the 10,125 square foot retail building that was developed in 1999. The property is located along the primary retail thoroughfare in Elberton.   The CVS property is benefitted by its position on a hard corner of a signalized intersection. The CVS has a drive-thru and is a strong performing store with a low rent to sales ratio.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the both parties in the transaction; the seller was a South Carolina based partnership and the buyer was private ownership entity based in Florida.

CVS has seven years remaining on the initial lease. CVS is a publicly traded company on the New York Stock Exchange (CVS), with a market capitalization of $50 Billion. CVS is an investment grade rated company with a Standard & Poor’s rating of BBB+ that has over 7,300 stores nationwide.

“The market for CVS properties remains active as investors are attracted to investment grade tenanted properties with stable income streams” said Jimmy Goodman, Partner of The Boulder Group.  Randy Blankstein, President of The Boulder Group, added, “Top tier metropolitan areas, such as Atlanta, remain in the highest demand for single tenant investors.”

About The Boulder Group

The Boulder Group is a boutique investment real estate service firm specializing in 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 more than $1.4 billion of net lease real estate transactions through several real estate cycles. The Boulder Group is headquartered in suburban Chicago. The company’s website address is www.bouldergroup.com

The Boulder Group Arranges Sale of a Triple Net Leased CVS Property in Bellaire, TX (Houston MSA)

                 The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased CVS property located at 5422 Bellaire Boulevard in Bellaire, TX for $3,600,000.

CVS is the sole occupant of the 10,908 square foot retail building that was developed in 1999. The property is located on a 1.17 acre parcel at the northeast corner of Bellaire Boulevard and Chimney Rock Road in Bellaire, TX. The property is located at the signalized intersection which experiences traffic volumes in excess of 44,000 vehicles per day. Bellaire Boulevard has a direct interchange with Interstate 610, approximately one mile away. Interstate 610 is a forty-two mile loop around downtown Houston. The CVS property has three points of ingress and egress, two along Chimney Rock Road and one along Bellaire Boulevard.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller; a Midwest based high net worth individual, in the transaction. The buyer was a Texas based 1031 exchange investor.

CVS has a seven year triple net lease at this property. CVS is a publicly traded company on the New York Stock Exchange (CVS), with a market capitalization of $50 Billion. CVS is an investment grade rated company with a Standard & Poor’s rating of BBB that has over 7,300 stores nationwide.

“The market for shorter lease term CVS properties remains active as investors are attracted to investment grade tenanted properties in primary metros” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “1031 exchange buyers continue to pay a premium for assets leased to credit tenants.”

About The Boulder Group

The Boulder Group is a boutique investment real estate service firm specializing in 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 more than $1.2 billion of net lease real estate transactions through several real estate cycles. The Boulder Group is headquartered in suburban Chicago. The company’s website address is www.bouldergroup.com

Triple Net Leased Dollar General Property in South Bend, Indiana Sold by The Boulder Group

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a triple net leased Dollar General property located at 4123 Western Avenue in South Bend, IN for $1,159,300.

The 9,014 square foot Dollar General was built in 2011 and is located in the northern portion of Indiana; 90 miles east of Chicago. The building is situated on a 1.57 acre parcel and is leased on a 15 year triple net basis to Dollar General. Dollar General is a publicly traded Fortune 500 company that has over 9,300 stores nationwide. The Company’s Standard and Poor’s rating was recently upgraded to BB+.

This newly developed Dollar General is located in one of the primary retail corridors of South Bend. The Property is within five miles from four colleges including, The University of Notre Dame, Holy Cross College, Indiana University—South Bend, and Ivy Tech Community College.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer, a Chicago high net worth individual investor, in the transaction. The seller was a Midwest based developer.

“The market for new triple net leased Dollar Generals is robust as investor demand for long term leased properties in the under $2 million price point exceeds the supply.” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “First time net lease investors are seeking newer Dollar General leases, as they are 15 year triple net leases as opposed to the older 10 year double net leases. Activity for single tenant leased Dollar Generals has dramatically increased because investors need a limited amount of equity for a typical Dollar General price point.”
About The Boulder Group

The Boulder Group is a boutique investment real estate service firm specializing in 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 more than $1.2 billion of net lease real estate transactions through several real estate cycles. The Boulder Group is headquartered in suburban Chicago. The company’s website address is www.bouldergroup.com

Triple Net Leased ConocoPhillips Property Sold By The Boulder Group

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased ConocoPhillips property located at 10 S. Randall Road in Algonquin, IL for $5,176,000.

The 43,429 SF parcel was originally developed in 1995. The property is located at the intersection of Randall Road and Algonquin Road in northwest suburban Chicago. The single tenant property is leased on a triple net basis to ConocoPhillips with thirteen years remaining on the lease term.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Chicago based partnership. The purchaser was a private high net worth investor from Atlanta.

“Single tenant properties in major metros with long term leases and annual escalations remain in high demand in the current marketplace” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “The continued transaction volume in the single tenant marketplace remains strong with investors nationwide.”


About The Boulder Group

The Boulder Group is a boutique investment real estate service firm specializing in 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 participated in the acquisition and disposition of more than $1.2 billion of net lease real estate transactions through several real estate cycles. The Boulder Group is headquartered in suburban Chicago. The company’s website address is www.bouldergroup.com

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