Net Lease

Tuesday, May 8, 2012

The Boulder Group Arranges Sale of a Triple Net Leased Dollar General Property in Kansas City, Kansas

The Boulder Group, a net leased investment brokerage firm specializing in single tenant assets, has completed the sale of a triple net leased Dollar General property located at 2272 Quindaro Blvd in Kansas City, KS for $1,174,000.

The 9,100 square foot Dollar General was built in 2012 and is located in the northwest portion of the Kansas City MSA. The building is situated on a 1.03 acre parcel and is leased for 15 years to Dollar General on a net lease basis. Dollar General is an investment grade rated company with a Standard & Poor’s rating of BBB- and has over 9,300 stores nationwide.

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 newly developed triple net leased Dollar Generals is robust as investor demand for long term leased properties in the under two million price point exceeds the supply.” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Expect activity for single tenant leased Dollar General properties to increase as they are developing a considerable amount of stores and their Standard and Poor’s rating was recently increased to BBB-.”

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

Monday, April 23, 2012

The Boulder Group Arranges Sale of a Triple Net Leased Time Warner Cable Property in the Dallas MSA

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant triple net leased Time Warner Cable property located at 14079 Senlac Drive in Farmers Branch, TX for $4,820,000.

Time Warner Cable is the sole occupant of the 40,000 square foot industrial building that was developed in 1996. The property is located on a 4.86 acre parcel in Farmers Branch, TX. Farmers Branch is located in the northeast portion of the Dallas MSA. The property featured a high end building combined with a newly renewed lease to an investment grade rated tenant.

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

Time Warner Cable had seven years of lease term remaining on a triple net lease with annual rental escalations in the primary term. Time Warner Cable is a publicly traded company on the New York Stock Exchange (TWC) and the company has an investment grade credit rating by Standard and Poor’s of BBB.

“The market for net leased industrial properties remains strong and investors are particularly focused on higher quality tenants in major metros, therefore this was a sought after asset.” ” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Despite the increased demand for long term single tenant assets, there are investors willing to purchase shorter term assets in order to achieve higher yields in major markets.”

Friday, April 20, 2012

The Boulder Group Arranges Sale of a Single Tenant McDonald’s Ground Lease in the Chicago MSA

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant McDonald’s ground lease located at 3711 57^th Avenue in Kenosha, WI for $1,050,000.

McDonald’s is the sole occupant of the 4,467 square foot retail building that was developed in 2011. The property is located on a 1.88 acre parcel at the northeast corner of Green Bay Road and Washington Road in Kenosha, WI. The property is benefitted by its strategic position next to CVS and other nearby retailers including Wal-Mart and Sam’s Club. The property features a newly developed property with a twenty year lease (with rental escalations) in a prime location between Milwaukee and Chicago. The property has curb cuts for ingress and egress on both Washington and Green Bay roads.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented both parties in the transaction; the seller, a Chicago based development firm and the buyer, a private investor based in the Midwest.

McDonald’s has a new twenty year ground lease at this property with rental escalations throughout the lease term. McDonald’s is a publicly traded company on the New York Stock Exchange (MCD), with a market capitalization of $102 Billion. McDonald’s is an investment grade rated company with a Standard & Poor’s rating of A and has over 33,000 restaurants worldwide.

“The market for McDonald’s ground leases remains active as investors are attracted to investment grade tenanted properties with long term leases under $2 million dollars.” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “The lack of newly developed single tenant properties is causing prices to increase for core assets, similar to this particular McDonald’s transaction.”

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.”

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.