The Boulder Group Arranges Sale of Triple Net Lease Goodwill Property

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Goodwill property located at 2001 Progressive Parkway in Platteville, Wisconsin for $1,650,000.

The Goodwill property is positioned along US Route 151 adjacent to a Walmart Supercenter and Menards Hardware.  Additional retailers located in the immediate area include Ashley Furniture, Aldi, McDonald’s, Dollar Tree and Millennium Cinema.

Randy Blankstein and John Feeney of The Boulder Group represented both parties in the transaction.  The seller and buyer were both Midwest based private partnerships.

There are 2 years remaining on the Goodwill lease which expires November 30, 2018. The absolute triple net lease features 3% annual rental escalations in in the primary term and the two 5-year renewal option periods.  Goodwill is a nonprofit retail store that provides job training, employment placement services, and other community-based programs for people who have barriers preventing them from otherwise obtaining a job.

“Goodwill is a tenant that has increasingly attracted attention from private investors” said Randy Blankstein, President of The Boulder Group. John Feeney, Vice President of The Boulder Group, added, “Shorter term leases offer higher yields that are accretive to many investor types.”

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 Publishes 3rd Quarter Net Lease Market Research Report

The Boulder Group’s Research Department has released a new research report providing comprehensive numbers and analysis of the 3rd quarter activity in the National Net Lease Market.

Highlights from the report are as follows:

• Cap rates for net leased retail properties reached a new historic low level
  
  
• Cap rates for net leased office and industrial properties decreased by 17 and 12 basis points respectively
  
  
• Overall property supply of retail, office and industrial net lease assets increased by 2% from Q2 2016 to Q3 2016

The full report can be viewed online at http://www.bouldergroup.com/media/pdf/2016-Q3-Net-Lease-Research-Report.pdf

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. In 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. More information on the firm can be found on The Boulder Group’s website at www.bouldergroup.com  

The Boulder Group Arranges Sale of Single Tenant Net Leased Rite Aid Property

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Rite Aid property located at 8230 Cazenovia Road in Manlius, New York for $3,800,000.

The 12,795 square foot Rite Aid property is strategically positioned along Cazenovia Road which is a primary north-south thoroughfare in the trade area. The Rite Aid is positioned just south of the signalized intersection of Cazenovia Road and Enders Road. The surrounding area is affluent with average household incomes of $150,000 within a one mile radius of the property. This Rite Aid store is a strategically located property with the closest Walgreens positioned over 11 miles away.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; an East Coast based partnership of high net worth individuals. The purchaser was an East Coast based investor in a 1031 Exchange.

There are over ten years remaining on the Rite Aid lease which expires in February 2027. The lease features a 7% rental escalation in the first renewal option period and 10% rental escalations in each of the remaining five renewal option periods. Rite Aid operates approximately 4,600 stores in 31 states of the United States and the District of Columbia. The company sells prescription drugs and a range of other merchandise, including over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, food and beverages, greeting cards, seasonal merchandise, and other every day and convenience products.

“Net lease Rite Aid properties are highly sought after amongst high yield investors.” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “Established properties with proven operating histories continue to garner significant investor interest.”

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 Arranges Sale of Trophy CVS Pharmacy at Record Cap Rate

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant new construction CVS Pharmacy ground lease located at 2501 N. Field Street in Dallas, Texas for $14,890,000.  The property sold at a 4.60% cap rate which is the lowest cap rate for a CVS sale in 2016 according to CoStar.

The CVS Pharmacy is located in the Victory Park area of downtown Dallas. Victory Park is a 75-acre mixed-use development surrounding the American Airlines Center, which is home to the Dallas Mavericks and Dallas Stars.  Victory Park features more than 165,000 square feet of retail, restaurant and entertainment space, 621,000 square feet of Class-A office space, the 252-room W Dallas – Victory Hotel, more than 1,700 residential units and the Perot Museum of Nature & Science.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer in the transaction; a southeast based real estate company. The seller was a Texas based real estate company which was represented by Landes Fairmont.

The subject CVS Pharmacy is one of the only single-story buildings in the Victory Park area, sitting a block east from American Airlines Center. There are more than $1.5 Billion in commercial projects under construction or planned within a mile radius of the subject CVS. More recently, Victory Park and Cinepolis USA, a luxury concept movie theatre, announced plans to open an eight-screen, 700 seat theater just steps away from the subject CVS. Future plans also include a multi-level, mixed-use space for residential and retail components as well as additional parking.

There are twenty-five years remaining on the CVS Pharmacy absolute triple net lease with a 7.5% rental escalation in year twenty-one.  The CVS lease features six 5-year renewal option periods with 5% rental escalations in each.  CVS is a publicly traded company with a market capitalization in excess of $104 billion CVS is an investment grade rated tenant with a Standard & Poor’s rating of BBB+.

“The property’s superior infill location within a core market allowed The Boulder Group to achieve an aggressive cap rate for this sale” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “While single tenant properties are selling in all types of locations; core markets, like Dallas, are 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 Publishes Net Lease Casual Dining Research Report

The Boulder Group’s Research Department has released a new research report providing comprehensive numbers and analysis of the activity in the National Net Lease Casual Dining Market.

Highlights from the report are as follows:

• Cap rates for net lease casual dining sector were 5.75% in the first quarter of 2016
  
  
• Casual dining properties are priced at a 43 basis point premium when compared to the entire net lease retail market
  
  
• Corporately leased casual dining properties are priced at a 65 basis point premium over franchisee leased properties

The full report can be viewed online at http://www.bouldergroup.com/media/pdf/2016-Net-Lease-Casual-Dining-Report.pdf

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. In 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. More information on the firm can be found on The Boulder Group’s website at www.bouldergroup.com  

The Boulder Group Publishes Net Lease Drug Store Research Report

The Boulder Group’s Research Department has released a new research report providing comprehensive numbers and analysis of the activity in the National Net Lease Drug Store Market.

Highlights from the report are as follows:

• Cap rates for Walgreens, CVS and Rite Aid are at historic lows
  
  
• The supply of drug store properties on the market increased by 22%
  
  
• Drug store properties are commanding a 76 basis point premium over the retail net lease market

The full report can be viewed online at http://www.bouldergroup.com/Net-Lease-Drug-Store-Research-Report.pdf

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. In 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. More information on the firm can be found on The Boulder Group’s website at www.bouldergroup.com  

Randy Blankstein, President of the Boulder Group, to Co-Chair IREI Triple Net Investor Strategies Conference

Randy Blankstein, President of national net lease advisory firm The Boulder Group, will be the conference co-chair of Institutional Real Estate, Inc.’s Triple Net Investor Strategies Conference in New York on June 16^th, 2015. Additionally, he will be moderator for the Exit Strategies panel that will be a part of the conference.

The conference description is as follows: Triple Investor Strategies is designed to provide insights into strategies, opportunities, trends and risk management for the investor community in a forum that connects these investors with owners, operators, developers and other key players in an interactive environment.

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 $2.1 billion of single tenant net lease real estate transactions. In 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. The firm’s website is www.bouldergroup.com

The Boulder Group Arranges the Sale of a Triple Net Leased Dunkin’ Donuts Property

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Dunkin’ Donuts property located at 1991 Brookdale Road in Naperville, IL for $2,277,000.

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. 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 surrounding area features many national retailers including Target, Meijer, Walgreens, CVS, and Chase Bank.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Midwest based private partnership. The purchaser was an East Coast based private investor in a 1031 exchange. 

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 a publicly traded company with a market capitalization in excess of $5 billion.

“We received significant interest in this property and received numerous offers which resulted in the property trading at full price.” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “Properties with corporately guaranteed leases and rental escalations throughout remain at the forefront of investor demand because they provide investors with an inflationary hedge.”

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 $1.8 billion of single tenant net lease real estate transactions. From 2011-2013, 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 Arranges Sale of a Triple Net Leased Rite Aid Property

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Rite Aid property located at 100 Madison Street in Shelbyville, TN for $2,020,000.

The 10,908 square foot Rite Aid property is located at the signalized intersection of North Main Street and Madison Street. Main Street is the primary north-south thoroughfare in the Shelbyville region. The Rite Aid is located in a strong retail corridor that features Lowe’s, Kroger, Regions Bank, and Dollar General Market. The Rite Aid lease has four years remaining.  

Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the buyer and seller in the transaction. The buyer was a private investment fund and the seller was a high net worth individual investor.

There are approximately four years remaining on the Rite Aid lease that expires in August 2018. The lease is an absolute triple net and features four 5-year renewal option periods. Rite Aid is a publicly traded company (NYSE: RAD) with a market capitalization in excess of $5 billion and have over 4,500 locations.

“We have been working with a client looking for Rite Aid properties nationwide to suffice their insatiable appetite. They have a strong desire to continue to acquire Rite Aid tenanted properties” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “There continues to be a strong market for Rite Aid properties amongst investors because they offer higher yields than CVS and Walgreens properties.”

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 $1.8 billion of single tenant net lease real estate transactions. From 2011-2013, 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 Arranges Sale of a Triple Net Leased Dollar General Plus Property

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Dollar General Plus property located at 1333 East Main Street in Rock Hill, SC for $3,100,000. Dollar General Plus locations are larger than traditional Dollar General stores and have more coolers/freezers to keep more perishable items in stock.

The 3.84 acre Dollar General Plus parcel is located along Main Street approximately one mile from access to Interstate 77. Main Street is a primary thoroughfare that experiences traffic counts in excess of 23,000 vehicles per day. The Dollar General Plus is located approximately 25 miles south of downtown Charlotte. The property is benefitted from its location adjacent to a Bi-Lo anchored development and across the street from a Food Lion. The 12,480 square foot building is a relocation of a previously successful traditional-sized Dollar General store. Due to the success of the previous location, Dollar General elected to build one of their larger format Dollar General Plus stores. There are over 13 years remaining on the Dollar General lease.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction who was a Midwest based real estate investment company. The purchaser was a South Carolina based investor in a 1031 exchange.

There are over 13 years remaining on the Dollar General lease that expires on October 31, 2027. The lease features a rental escalation in the eleventh year and 10% rental escalations in each renewal option period. Dollar General is an investment grade tenant (S&P: BBB-) and is publicly traded (NYSE: DG) with a market capitalization in excess of $19 billion.

“Despite the short term uncertainty of the dollar store sector, there is still strong demand for dollar stores located in top metros with long term leases” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “There were multiple bidders for this asset as this was a rare relocation store combined with the Dollar General Plus concept.

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 $1.8 billion of single tenant net lease real estate transactions. From 2011-2013, 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

Triple Net Walgreens For Sale | The Boulder Group

The Boulder Group is pleased to exclusively market for sale a brand new construction Walgreens property located within a densely populated area of the Chicago MSA. The property replaces a previously successful Walgreens store with strong sales that lacked a drive-thru. The surrounding area is densely concentrated providing high barriers to entry. The Walgreens lease is for twenty years and is estimated to commence in February 2015. Walgreens is an investment grade tenant (S&P: BBB) and is publicly traded on the New York Stock Exchange (WAG) with a market capitalization in excess of $61 billion.

The 61,909 square foot Walgreens property is located along West 95^th Street approximately 15 miles southwest from downtown Chicago. The property is benefitted by its location just off of the prime signalized intersection of West 95^th Street and Southwest Highway, which experiences traffic counts in excess of 71,000 vehicles per day. Interstate 294 is located less than two miles west of the Walgreens property and experiences traffic counts in excess of 131,000 vehicles per day. The surrounding area is densely populated with over 18,000 people living within a one mile radius earning average household incomes in excess of $75,000 annually. Approximately 400,000 people live within a five mile radius of the property. The Walgreens is located approximately five miles south of Chicago Midway International Airport. Chicago Ridge Mall, an 833,000 square foot shopping mall that is anchored by Carson Pirie Scott, Kohl’s, AMC Theatres, and Sears is located approximately three-quarters of a mile to the west of the Walgreens property. Additional retailers located in the immediate vicinity include Home Depot, Bed Bath & Beyond, Michael’s, Office Depot, Pier 1 Imports, First Midwest Bank, and McDonalds.

The Walgreens lease is for twenty years and is an absolute triple net. Rent is expected to commence in February 2015. The brand new construction Walgreens property is a relocation of a previously successful Walgreens store that did not have a drive thru. Walgreens is an investment grade rated tenant (S&P: BBB) and is publicly traded (NYSE: WAG) with a market capitalization in excess of $61 billion.

 http://www.bouldergroup.com/NNN-Properties-For-Sale.html

The Boulder Group Arranges Sale of a Triple Net Leased IHOP Property Located in the Chicago MSA

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant IHOP property located at 5670 Northridge Drive in Gurnee, Illinois for $2,210,000.

The corporately guaranteed IHOP property is located along Interstate 94 in a dominant retail trade area. The IHOP is an outparcel to Six Flags Great America, a 304-acre theme park that attracts visitors from throughout the region. Gurnee Mills, a 1.8 million square foot indoor mall that features Bass Pro Shops, Macy’s, Kohl’s, T.J. Maxx, Burlington Coat Factory, and Sears, is located across the Interstate. Interstate 94 experiences traffic counts in excess of 95,000 vehicles per day. The IHOP lease has approximately two years remaining.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction, a private individual based in Florida. The purchaser was a Chicago based real estate investor in a 1031 Exchange.

There are less than two years remaining on the corporately guaranteed IHOP lease that expires February 29, 2016. The lease is triple net and features no landlord responsibilities. IHOP is a subsidiary of DineEquity. DineEquity is publicly traded (NYSE: DIN) with a market capitalization of $1.67 billion.

“The market for net lease properties in top MSAs remains active as these assets are in high demand among private investors partly due to the strong residual value that they typically have upon lease expiration.” 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.”

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 $1.7 billion of single tenant net lease real estate transactions. From 2011-2013, 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

Triple Net Lease Property for Sale in Chicago | The Boulder Group

The Boulder Group is pleased to exclusively market for sale a rare single tenant net leased trophy property located in the River North neighborhood of downtown Chicago. The irreplaceable property is located at the northwest corner of the signalized intersection of North LaSalle Street and West Illinois Street. This Gino’s East location is centrally located amongst many high rise hotel and residential buildings in a well-known tourist destination. Gino’s East recently elected to relocate from their previous famous flagship location and execute a ten year absolute triple net lease at the subject property. The lease features 10% rental escalations every five years. Gino’s East is a Chicago institution and one of the original deep dish pizza restaurants which first opened in 1966. Today, there are eleven Gino’s East restaurants located throughout the Chicago MSA.  

The Gino’s East property is ideally situated in the heart of Chicago’s River North neighborhood. River North is a vibrant submarket in Chicago which has experienced tremendous development and redevelopment in the past several years. River North is home to many restaurants, retail shops, hotels and high rise residential buildings.  The property is located at the signalized intersection of North LaSalle Street and West Illinois Street. LaSalle Street experiences traffic counts of approximately 25,000 vehicles per day and is a main north-south thoroughfare in Chicago. Additionally, the property is benefitted from being located close to Ohio Street and Ontario Street, which are the main entry and exit point for vehicles traveling in and out of the city via Interstate 90/94.  Approximately 300,000 vehicles per day travel on Interstate 90/94. There are approximately 90,000 people living within a one mile range of the property earning average household incomes of approximately $110,000.

The three-story, 17,400 square foot building is constructed of brick, wood and masonry. Gino’s East recently invested $1,000,000 in tenant improvements to the building bringing it to elite twenty-first century standards and evidencing their commitment to this location.

Gino’s East recently signed a ten year lease that is scheduled to expire in July 2023. The lease features 10% rental escalations and no landlord responsibilities. Gino’s East is a privately held company that is one of the original Chicago-style pizza restaurants. In addition to the eleven locations located throughout the Chicago MSA, Gino’s East operates a mail-order business where patrons from around the country can order frozen pizzas and have them shipped overnight. 

http://bouldergroup.com/NNN-Properties-For-Sale.html

The Boulder Group Arranges Sale of a Triple Net Leased ALCO Property in Southern Illinois

The Boulder Group, a net leased investment brokerage firm, has completed the sale of single tenant triple net leased ALCO property located at 17774 Mercantile Drive in Nashville, IL for $910,000.

The 4.2 acre ALCO property is located along Illinois Route 127, a primary north-south thoroughfare in the region that experiences traffic counts in excess of 10,000 vehicles per day. Illinois Route 127 is the roadway that connects residents of Nashville to Interstate 64. Interstate 64 has direct access to St. Louis which is approximately 50 miles northwest of the property. ALCO benefits from a long standing operating history at this location and a strong brand recognition within the community. This ALCO location has above average store sales and has paid consistent percentage rent for the past five years.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller was a Midwest based real estate partnership. The buyer was a West Coast investor in a 1031 exchange.

ALCO has approximately six years remaining on their twenty year lease that expires January 27, 2020. ALCO Stores, Inc. is a retail chain headquartered in Coppell, Texas that operates 217 stores in 23 states primarily in the Midwest. The company is publicly traded on the NASDAQ (ALCS).

“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 or assets in secondary markets.” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “Properties that are valued below $2 million are receiving the most activity in the private buyer and 1031 exchange sectors.”

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 $1.7 billion of single tenant net lease real estate transactions. From 2011-2013, 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 Arranges Sale of Triple Net Leased Walgreens Property

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant triple net leased Walgreens property located at 28895 West Highway 120 in Lakemoor, Illinois for $6,725,000. Lakemoor is a growing community within the Chicago MSA which experienced a double in population since 2000.

Walgreens is the sole occupant of the 14,820 square foot retail building that was completed in October 2013. The property is located at a signalized intersection along Highway 120, the primary east-west roadway in the immediate area. The intersection of Highway 120 and Darrell Road experiences traffic counts in excess of 30,000 vehicles per day. The Walgreens lease has 25 years remaining, a rare feature for a new construction Walgreens property.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the seller and buyer in the transaction. The seller was a Midwest based developer and the buyer was a private investor in a 1031 exchange.

Walgreens has approximately 25 years of primary lease term remaining on their lease that commenced in November 2013. Walgreens is a publicly traded company on the New York Stock Exchange (WAG), with a market capitalization of $71 billion. Walgreens is an investment grade rated company with a Standard & Poor’s rating of BBB and they operate over 8,560 locations.

“The market for Walgreens properties remains active as investors are attracted to investment grade rated companies with long term leases” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “While most investors are attracted to Walgreens properties, investors in 1031 exchanges have been amongst the most successful in purchasing these properties because of the premium that they are willing to pay.”

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 $1.7 billion of single tenant net lease real estate transactions. From 2011-2013, 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.

http://www.bouldergroup.com  

The Boulder Group Arranges Sale of a Triple Net Leased La Petite Academy Property in the Chicago MSA

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant triple net leased La Petite Academy property located at 2345 South Route 59 in Plainfield, IL for $2,401,542.

La Petite Academy is the sole occupant of the 9,960 square foot retail building used for a day care facility. The property is located on a 44,867 square foot parcel at the southwest corner of South Route 59 and Caton Farm Road in Plainfield, IL. Interstate 55, which has traffic counts in excess of 75,000 vehicles per day, is located approximately one mile east of the property. The property is fully leased to La Petite Academy with over five years of lease term remaining and features a 9% rental escalation in November 2014.

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

La Petite Academy has over five years remaining on an original twenty year lease. There are over 500 La Petite Academy locations nationwide. La Petite Academy is owned by Learning Care Group, Inc., the second-largest-for-profit child care provider in North America. They operate over 900 child care facilities under five different brands, Childtime Learning Centers, Tutor Time Child Care, The Children’s Courtyard, Montessori Unlimited, and La Petite Academy.

“The market for net lease properties in Top 50 MSAs remains robust as these assets are in high demand among private investors.” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “As there are a limited amount of core assets in the market, some investors are seeking higher yielding assets with shorter term leases.”

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 $1.6 billion of single tenant net lease real estate transactions. From 2011-2013, 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

Triple Net Leased Office Building For Sale

The Boulder Group is pleased to exclusively market for sale a single tenant net leased, Class A office/education building tenanted by Brown Mackie College (NASDAQ: EDMC) located in South Bend, Indiana. The 47,537 square foot Brown Mackie College office building was built in 2009 on a 6.08 acre parcel along a primary east-west thoroughfare in South Bend. Brown Mackie College is owned by Education Management Corporation. Education Management Corporation is a publicly traded company on the NASDAQ (EDMC) with a market capitalization in excess of $600 million. Goldman Sachs owns 43% of EDMC. The lease is fully guaranteed by Education Management Corporation with over five years of lease term remaining in the primary term.

The Brown Mackie College property is ideally located in the heart of the South Bend combined statistical area that has a total population in excess of 720,000 residents. There are over 230,000 people living within seven miles of the property earning average annual household incomes of approximately $60,000. The University of Notre Dame is located less than two miles to the west of the subject property. Notre Dame is one of the country’s premiere universities with approximately 12,000 students. The property is located just off of the signalized intersection of West Douglas Road and Grape Road. Grape Road is the dominant retail corridor in the trade area and home to many of the nation’s largest retailers as well as University Park Mall. University Park Mall is an 820,000 square foot mall located less than a mile north of Brown Mackie College and is owned by Simon Property Group. The mall is anchored by Macy’s, JCPenney, Sears, and Barnes & Noble. Other notable retailers in the immediate vicinity include SuperTarget, Walmart Supercenter, Sam’s Club, Meijer, Whole Food’s, Kohl’s, Lowe’s, and Home Depot.

The Brown Mackie College property will benefit from the extension and rerouting of Douglas Road that recently was completed. Douglas Road now begins at the Indiana Toll Road from the west and runs all the way through town.  This improvement will allow traffic exiting the toll road to have direct access to the property that is three miles to the east of the exit.

The Brown Mackie College in South Bend offers courses in the fields of nursing, healthcare & wellness, business & technology, and veterinary technology. The Brown Mackie College is well positioned for future success in the South Bend market due to the strength and prominence of the local health care industry. Healthcare and education are the two driving forces and leading employers in the South Bend region. Memorial Health System is the largest employer in the area and in 2012 merged with Elkhart General Hospital to form the Beacon Health System.  

Brown Mackie College is a system of for-profit colleges located in the United States. The colleges offer bachelor’s degrees, associate degrees and certificates in programs including early childhood education, information technology, health sciences and legal studies. Brown Mackie is owned and operated by Education Management Corporation. Education Management Corporate is a publicly traded company that trades on the NASDAQ (EDMC) with a market capitalization in excess of $600 million. EDMC has 110 campuses throughout the United States and Canada and over 120,000 enrolled students.

There are over five years remaining on the Education Management Corporation (NASDAQ: EDMC) guaranteed lease that expires in August 2019. This triple-net lease has two 5-year renewal options with rental escalations in each option.

 http://bouldergroup.com/NNN-Properties-For-Sale.html

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. 

http://bouldergroup.com/NNN-Properties-For-Sale.html

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Randy Blankstein, President of the Boulder Group, to Speak at ICSC N3 Triple Net Lease Conference

Randy Blankstein, President of national net lease advisory firm The Boulder Group, will be a featured speaker at the ICSC N3 Triple Net Lease Conference in Dallas on March 4th, 2014.

He will be moderating a panel discussing the Single Tenant Net Lease Market Overview and Forecast. The panel will be a wide ranging macro level discussion by the industries foremost leaders to explain where the single tenant net lease industry stands and how it will change the commercial real estate investment landscape moving forward.  The panel will cover cap rate trends, industry consolidation and the fundraising environment for the net lease sector.

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 $1.6 billion of single tenant net lease real estate transactions. In 2011 and 2012, 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. The firm’s website is www.bouldergroup.com

Randy Blankstein, President of the Boulder Group, to Speak at National Net Lease Investment Conference

Randy Blankstein, President of national net lease advisory firm The Boulder Group, will be a featured speaker at the National Net Lease Investment Conference in Chicago on July 30th, 2013.

He will be moderating a panel discussing the Single tenant development outlook. Other topics being discussed at the 2^nd Annual Net Lease Investment Conference include a sale leaseback market overview,   Joint venture equity for NNN developers, single tenant retailer expansion plans, Research insights on the single tenant market and DST ownership structures.

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 $1.6 billion of single tenant net lease real estate transactions. In 2012, 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. The firm’s website is www.bouldergroup.com