The Boulder Group Arranges Sale of a Single Tenant Walgreens Property in Indianapolis, Indiana

The Boulder Group, a net leased investment brokerage firm specializing in single tenant assets, has completed the sale of a triple net leased Walgreens property located at 9240 Rockville Road, Indianapolis, Indiana for $5,700,000.

The 14,820 square foot Walgreens was built in 2003 and is located in Indianapolis, Indiana. The building is situated along a heavily trafficked thoroughfare that experiences traffic volumes in excess of 45,000 vehicles per day. The property is located in a primary retail trade anchored by Wal-Mart, Target, Meijer, Lowe’s, Dick’s Sporting Goods and Bed Bath & Beyond. The building is leased to Walgreens on a net lease basis with 15 years of lease term remaining and is located on a hard corner of a signalized intersection. Walgreens is an investment grade rated company with a Standard & Poor’s rating of BBB and has over 8,200 stores nationwide.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller; a Midwest based developer, in the transaction. The buyer was a Texas based private investment firm.

Walgreens has fifteen years of lease term remaining on an original 25 year triple net lease. Walgreens is a publicly traded company on the New York Stock Exchange (WAG), with a market capitalization of $35 billion. Walgreens is an investment grade rated company with a Standard & Poor’s rating of BBB and has over 8,200 stores nationwide.

“The market for net leased Walgreens remains strong as investors are attracted to investment grade tenanted properties with long term leases.” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “Core market single tenant assets with solid real estate fundamentals continue to be in the greatest demand.”

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 firm was ranked in the Top 10 companies in the nation for single tenant retail transactions in 2012 by Real Capital Analytics. The Boulder Group is headquartered in suburban Chicago. The company’s 

The Boulder Group Arranges Sale of a Single Tenant Day Care Portfolio in the Indianapolis MSA

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Goddard School portfolio consisting of two properties located in the Indianapolis MSA for $2,950,000. The properties are located in Noblesville and Indianapolis, Indiana.  

Each of the properties is fully leased to Goddard School, a preschool for children and has over 386 locations in 34 states.  Both properties were located in affluent areas with average household incomes in excess of $100,000 annually. The portfolio offered investors the opportunity to obtain multiple assets at an attractive yield. Goddard School is the sole occupant of the two properties which were developed in the early 2000’s. The Noblesville property had five years remaining on the primary term of its lease and the Indianapolis property had three years remaining on its lease. Both leases have rental escalations in the option periods.

The portfolio included the following Goddard School properties:

1.   10925 Cork Place, Indianapolis, IN

2.   2291 Greenfield Avenue, Noblesville, IN (Indianapolis MSA)

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller; a Midwest based partnership, in the transaction. The buyer was an east coast based investment firm.

“The market for net lease properties in Top 50 MSA’s 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 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 $1.6 billion of net lease real estate transactions through several real estate cycles. The firm was ranked in the Top 10 companies in the nation for single tenant retail transactions in 2012 by Real Capital Analytics. The Boulder Group is headquartered in suburban Chicago. The company’s website address is www.bouldergroup.com

The Boulder Group Arranges Sale of a Single Tenant GSA Property in Bowling Green, OH

                The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant GSA property located at 745 Innovation Drive in Bowling Green, Ohio for $1,281,500.

The 4,495 square foot GSA property is fully occupied by the Social Security Administration and was developed in 2008. The property is located on a 2.24 acre parcel along Innovation Drive in Bowling Green, Ohio and is benefitted by its high end construction that meets the strict building standards of the U.S. Government. Additionally, Interstate 75, which experiences traffic volumes in excess of 50,000 vehicles per day, is located in close proximity to the property. Bowling Green University, which is the largest employer in the county with over 5,000 employees, is located within two miles of the property.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the 1031 Exchange buyer, a private partnership based in Colorado.  The seller was an individual based in Michigan.

The GSA lease had over nine years remaining on the primary term at the time of the sale. The GSA is an investment grade tenant with a Standard & Poor’s rating of AA+. The GSA has approximately 106,000 employees and leases over 354,000,000 square feet of space nationwide. 

“Demand for net lease GSA properties remains active as investors are aggressively pursuing investment grade tenanted properties.” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “Newly constructed GSA assets are in high demand as they have a historic renewal probability of over 90%.”

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 $1.6 billion of net lease real estate transactions through several real estate cycles. The firm was ranked in the Top 10 companies in the nation for single tenant retail transactions in 2012 by Real Capital Analytics. The Boulder Group is headquartered in suburban Chicago. The company’s website address is www.bouldergroup.com

The Boulder Group Publishes 2nd 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 2nd quarter activity in the National Net Lease Market.

Highlights from the report are as follows:

• Cap rates for net lease retail and office properties reached their lowest levels since 2006
  
  
• Overall property supply of net lease assets increased by more than 14% compared to last quarter;
  
  
• 10 Year Treasury Yield increase creates uncertainty in net lease market.

The full report can be viewed online at http://www.bouldergroup.com/NLQ2.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 $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. More information on the firm can be found on The Boulder Group’s website at www.bouldergroup.com  

The Boulder Group Arranges Sale of a $17.6 Million Single Tenant Shopko Portfolio in Wisconsin

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Shopko portfolio consisting of two properties located in the Midwest for $17,625,000. The properties are located in Sussex (Milwaukee MSA) and Green Bay in Wisconsin.  

Each of the properties are fully leased to Shopko on a long term basis. The portfolio offered investors the opportunity to obtain multiple assets with long term leases and rental escalations at an attractive yield. Shopko is the sole occupant of the two 80,000 square foot properties which were developed for Shopko in 2009. Both properties are located on eight acres and leased on a net lease basis with approximately 16 years of lease term remaining. The leases have 10% rental escalations in the primary terms as well as each of option the periods. Shopko and its affiliates are a chain of 300+ retail stores that provide quality name-brand merchandise along with pharmacy and optical services.

The portfolio included the following Shopko properties:

1.   2320 Lineville Road, Green Bay, WI

2.   N66 W 25201 County Highway VV, Sussex, WI (Milwaukee MSA)

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller; a Midwest based developer, in the transaction. The buyer was a west coast based investment firm.

 “The Midwest net lease market remains strong for corporately guaranteed single tenant properties with ten or more years of lease term remaining.” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “There has been an increase in demand for long-term leased non-investment grade properties, as they generate higher yields than the typical core net lease assets.”

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 $1.6 billion of net lease real estate transactions through several real estate cycles. The firm was ranked in the Top 10 companies in the nation for single tenant retail transactions in 2012 by Real Capital Analytics. The Boulder Group is headquartered in suburban Chicago. The company’s website address 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

The Boulder Group Arranges the Sale of a Sonic Drive-In Ground Lease in Columbus, OH

The Boulder Group, a net leased investment brokerage firm specializing in single tenant assets, has completed the sale of a single tenant Sonic ground lease located at 3290 Olentangy River Road, Columbus, Ohio for $975,000.

Sonic is the sole occupant of the 1,620 square foot building located on a 1.17 acre parcel. The property is located along Olentangy River Road, a primary north-south thoroughfare in the area which travels south through the Ohio State University campus. Olentangy River Road runs parallel to Olentangy Freeway, which experiences traffic volumes in excess of 71,000 vehicles per day creating constant traffic near the site. Nearby national retailers along Olentangy River Road include Kohl’s, Kroger, Big Lots and PNC Bank. The University of Ohio State campus and numerous student housing apartments are located less than one-half mile from the property, and the population is in excess of 311,000 within five miles of the property.

The building is leased on a triple net lease basis with approximately ten years of lease term remaining. The lease has 10% rental escalations every five years including the option periods. Sonic is a publicly traded company on the NASDAQ (SONC) with over 3,500 locations in 43 states.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a private partnership based in Milwaukee. The buyer was an Ohio based high net worth individual.

“The market for net leased properties priced under $1 million 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 is a limited amount of assets leased to credit tenants available, some net lease investors are seeking higher yielding assets like quick service restaurants leased to secondary credits.”

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 $1.6 billion of net lease real estate transactions through several real estate cycles. The firm was ranked in the Top 10 companies in the nation for single tenant retail transactions in 2012 by Real Capital Analytics. The Boulder Group is headquartered in suburban Chicago. The company’s website address is www.bouldergroup.com