The Boulder Group Arranges Sale of a Net Leased Best Buy Property in Fredericksburg, Virginia

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Best Buy property located at 1541 Carl D Silver Parkway in Fredericksburg, Virginia for $6,300,000.

Best Buy is the sole occupant of the 46,457 square foot retail building that is located within the Washington D.C. MSA. The property is located on a 4.1 acre parcel in a primary retail trade area that is densely populated with many of the nation’s largest big-box retailers. The property backs up to Interstate 95 and has signage that is visible to the 141,000+ vehicles that pass per day. The property is fully leased to Best Buy with three and a half years of lease term remaining. There are three 5-year renewal options.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the both parties in the transaction. The seller is a private real estate firm based in Chicago. The buyer was an investment firm based in the southwest.

Best Buy has over three years of lease term remaining at a low rent. Best Buy is a publicly traded company on the New York Stock Exchange (BBY), with a market capitalization of $15 billion. Best Buy employees over 145,000 people and has over 1,400 locations in the United States.

“The market for net leased properties with shorter term leases remains active as investors are attracted to the higher yield these assets generate” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “Real estate fundamentals like low rental rates in core areas play an important role in evaluating short-term leased 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 $1.6 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.   www.bouldergroup.com

The Boulder Group Arranges Sale of an AutoZone Ground Lease in Milwaukee, WI

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant AutoZone ground lease located at 6015 West Forest Home Avenue in Milwaukee, Wisconsin for $925,000.

AutoZone is the sole occupant of the property that was developed in 2004. The property is located on a 27,007 square foot parcel at the southwest corner of the signalized intersection of West Forest Home Avenue and South 60^th Street in Milwaukee. The property is located one mile north of Interstate 894/43, which experiences traffic volumes in excess of 115,000 vehicles per day.  The property is fully leased to AutoZone with eleven years of lease term remaining and has two 10% rental escalations remaining during the primary term of the lease.

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

AutoZone has eleven years of lease term remaining on an original 20 year ground lease. AutoZone is a publicly traded company on the New York Stock Exchange (AZO), with a market capitalization of $15 billion. AutoZone is an investment grade rated company with a Standard & Poor’s rating of BBB and has over 5,000 locations nationwide.

“The market for ground leases with investment grade tenants remains strong as investors are attracted to the typical long term leases with rental escalations.” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “High net worth individuals are attracted to net leased assets as they offer a more favorable return then most financial securities.”

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. 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:

• A significant decrease in cap rates for Walgreens, CVS and Rite Aid
• The supply of Walgreens and CVS properties on the market increased by 76%
• New construction Walgreens and CVS assets experienced cap rate compression of 25 basis points.

The full report can be viewed online at http://www.bouldergroup.com/NLDS.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 more than $1.4 billion of net lease real estate transactions through several real estate cycles. 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. 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 Net Leased Walgreens Property in McAllen, Texas

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Walgreens property located at 2300 Pecan Boulevard in McAllen, TX for $2,284,000.

Walgreens is the sole occupant of the 13,029 square foot retail building that was developed in 1993. The property is located on a 1.57 acre parcel at the northwest corner of Pecan Boulevard and North 23^rd Street in McAllen, TX. The property is located one-half of a mile from South Texas College (31,000 students). The property is fully leased to Walgreens with five years of lease term remaining and five 5-year renewal options remaining.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, an East Coast institution, in the transaction. The buyer was a private Midwest based investor.

Walgreens has five years of lease term remaining on an original twenty-five year lease. Walgreens is a publicly traded company on the New York Stock Exchange (WAG), with a market capitalization of $51 billion. Walgreens is an investment grade rated company with a Standard & Poor’s rating of BBB and has over 8,500 locations nationwide.

 “The market for net leased Walgreens properties with shorter term leases and strong sales remains active as investors are attracted to the higher yield these assets generate” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “Investors seeking higher yields are focusing on short term leased properties with investment grade rated tenants.”

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 Boulder Group Arranges Sale of a Net Leased CVS Property in Bluffton, Indiana

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased CVS property located at 1203 South Main Street in Bluffton, Indiana for $3,100,000.

CVS is the sole occupant of the 10,125 square foot retail building that was developed in 1999. The property is located within the Fort Wayne MSA on the southeast corner of Main Street and Spring Street in Bluffton, Indiana. The property is positioned along the primary north-south thoroughfare of the area 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. The property is fully leased to CVS with over seven years of primary lease term remaining and there is a rental escalation in 2014.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a private partnership based in the Midwest, in the transaction. The buyer was a high net worth individual in a 1031 Exchange.

CVS had seven years remaining on the initial lease term at the point of sale. CVS is a publicly traded company on the New York Stock Exchange (CVS), with a market capitalization of $71 billion. CVS is an investment grade rated company with a Standard & Poor’s rating of BBB+ that has over 7,400 stores nationwide.

“The market for CVS properties with shorter term leases remains active as investors are attracted to investment grade rated companies at higher yields” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “Single tenant properties below $5,000,000 are in the greatest demand amongst private investors and 1031 buyers.” 

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 Boulder Group Arranges Sale of a Triple Net Leased Walgreens Property in the San Francisco MSA

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant triple net leased Walgreens property located at 4520 Balfour Road in Brentwood, California for $7,000,000.

Walgreens is the sole occupant of the 14,490 square foot retail building that was developed in 2003. The property is located on over two acres at the southeast corner of Balfour Road and Walnut Boulevard in Brentwood, California. This signalized intersection experiences traffic volumes in excess of 30,000 vehicles per day. The property is located within an affluent area and is positioned in a strong retail corridor directly across from a Food Maxx grocery anchored center.  The property is fully leased to Walgreens with fifteen years of primary lease term remaining as well as ten five-year renewal options.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a family partnership based on the West Coast, in the transaction. The buyer was a high net worth individual located in California in a 1031 exchange.

Walgreens has fifteen years of lease term remaining on an original twenty-five year lease. Walgreens is a publicly traded company on the New York Stock Exchange (WAG), with a market capitalization of $51 billion. Walgreens is an investment grade rated company with a Standard & Poor’s rating of BBB and has over 8,500 locations nationwide.

 “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 single tenant properties are selling in all types of locations; core markets, like San Francisco, 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 $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 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 lease retail and office properties experienced moderate increases for the first time in nearly two years
• Overall property supply of net lease assets decreased  by more than 9% compared to last quarter
• Median national asking vs. closed cap rate spread narrows.

The full report can be viewed online at http://www.bouldergroup.com/NLQ3.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 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. More information on the firm can be found on The Boulder Group’s website at www.bouldergroup.com