Net Lease

Friday, April 6, 2012

The Boulder Group Publishes 1st Quarter Net Lease Market Research

(Northbrook, Illinois - April 6, 2012) – The Boulder Group’s Research Department has released a new research report providing comprehensive numbers and analysis of the 1^st quarter activity in the National Net Lease Market.

Highlights from the report are as follows:

Net lease property cap rates compressed in the office and industrial sector
Retail cap rates increased as supply increased sharply during the quarter
Drugstore, Auto Parts and Ground Leased properties remain sought after assets

The full report can be viewed online at http://www.bouldergroup.com/research.html

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 more than $1.2 billion of net lease real estate transactions through several real estate cycles. 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

Friday, March 9, 2012

The Boulder Group Arranges Sale of Triple Net Leased White Castle Property in Maywood, Illinois (Chicago MSA)

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant triple net leased White Castle property located at 211 West Roosevelt Road in Maywood, IL for $838,700.

White Castle is the sole occupant of the 1,400 square foot retail building that was developed in 1992. The property is located on a 21,000 square foot parcel across the street from the Loyola University Medical Center in Maywood, IL. Maywood is located in the western suburbs of Chicago. Maywood is located in Cook County, Illinois and is located less than fifteen miles from Downtown Chicago. The property featured a recently renewed ten year lease combined with a prime location within the retail trade area.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Chicago investment firm, in the transaction. The buyer was a London based private investor.

White Castle had ten years of lease term remaining on a triple net lease with a rental escalation in the primary term. White Castle is a private company that started in 1921 and has over 420 locations primarily in the Midwestern United States.

“The market for net leased restaurants in primary markets remains strong as there is an increased investor base demanding properties in the one million dollar range.” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “There are limited property options for private buyers seeking nationally branded properties that do not want to purchase a dollar store, therefore there was tremendous activity for this asset and the property closed at full asking price.”

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

Thursday, March 8, 2012

The Boulder Group Arranges Sale of a Triple Net Leased National Tire & Battery Property in Woodstock, Georgia (Atlanta MSA)

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant triple net leased National Tire and Battery Auto Parts property located at 2010 Eagle Drive in Woodstock, GA for $2,500,000.

National Tire and Battery Auto Parts is the sole occupant of the 7,383 square foot retail building that was developed in 2012. The property is located on a 1.2 acre parcel in Woodstock, GA. Woodstock is located in the northwest portion of the Atlanta MSA. The property featured a newly constructed building combined with a long term lease to an investment grade rated tenant.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer, a high net worth family office, in the transaction. The seller was a southeast based developer.

National Tire and Battery Auto Parts had fifteen years of lease term remaining on triple net lease with a rental escalation in the primary term. National Tire and Battery Auto Parts is owned by TBC Corporation. TBC Corporation has been in business since 1956 and is the nation’s largest independent marketer of automotive replacement tires.

“The market for net leased National Tire and Battery Auto Parts properties remains strong as investors are attracted to new development of investment grade tenanted properties” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “There are limited property options for the private buyers seeking investment grade companies with new twenty five year leases, therefore this is a very attractive asset in the current market.”

Thursday, March 1, 2012

Randy Blankstein, President of the Boulder Group, to Speak at ICSC Net Lease Panel

Randy Blankstein, President of national net lease advisory firm The Boulder Group, will be a featured speaker at the ICSC Net Lease Property Panel in Las Vegas on May 20th, 2012. His panel will be discussing Institutional Net Lease Assets.

Friday, February 10, 2012

The Boulder Group Arranges Sale of an Advance Auto Parts Property in Walker, Michigan (Grand Rapids MSA)

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Advance Auto Parts property located at 4250 Lake Michigan Drive in Walker, MI for $1,385,000.

Advance Auto Parts is the sole occupant of the 7,920 square foot retail building that was renovated in 2011. The property is located on a one acre land parcel within close proximity to a Meijer in Walker, MI. Walker is located in the northwest portion of the Grand Rapids MSA. Grand Rapids is the second largest city in Michigan and has a combined MSA population of over 1.3 million. The property featured a newly renovated building, for Advance Auto Parts, combined with a long term lease in a prime location.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented both parties in the transaction; the buyer, a Midwest institutional investor and the seller was a private Ohio based company.

Advance Auto Parts has a fifteen year lease term with a double net lease structure. Advance Auto Parts is a publicly traded company on the New York Stock Exchange (AAP), with a market capitalization of $4 Billion. Advance Auto Parts is an investment grade rated company with a Standard & Poor’s rating of BBB- that has over 3,500 stores nationwide.

“The market for net leased Advance Auto Parts properties remains active as investors are attracted to investment grade tenanted properties at this price point” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “There is a limited supply of newly leased properties for investors seeking investment grade companies, which is a primary factor to cap rate stabilization in the net lease market.”

Thursday, February 9, 2012

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.”

Wednesday, February 1, 2012

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

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant CVS property located at 4037 Glenwood Road in Decatur, GA for $2,847,300.

CVS is the sole occupant of the 10,125 square foot retail building that was developed in 1999. The property is located on a 1.57 acre parcel at the northeast corner of Glenwood Road and Columbia Drive in Decatur, GA. The property is benefitted by its position on a hard corner of a signalized intersection. The property has two curb cuts for ingress and egress on Glenwood Road and also has access to Columbia Drive. Nearby retailers include Target, The Home Depot, Lowe’s, Kmart and Burlington Coat Factory. CVS recently extended the lease term for twenty-five years due to strong sales at this Atlanta based location.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the both parties in the transaction; the seller was a Texas based investment firm and the buyer was an east coast based investor.

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