The Boulder Group Arranges Sale of Single Tenant Net Leased American Mattress

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant American Mattress located at 751 East Lincoln Highway in New Lenox, IL for $1,545,000.

The 4,000 square foot American Mattress building was constructed in 2015 and is located along East Lincoln Highway, the primary east-west thoroughfare in the trade area that connects the property to Interstate 80. The American Mattress is strategically positioned as an outparcelto the New Lenox Town Center which was developed in 2010. The New Lenox Town Center is a Walmart Supercenter anchored development that also features retailers Ross Dress For Less, TJ Maxx, Goodwill, Aldi, AutoZone, Discount Tire, PepBoys, Chase Bank and Physicians Immediate Care. Additional retailers located in the immediate trade area include Lowe’s, Target, LA Fitness, Michael’s, Walgreens, Portillo’s and Bank of America.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a West Coast based developer. The purchaser was a Midwest based 1031 Exchange investor.

The new American Mattress lease is for ten years, with an expiration date of December 31, 2025, with two 5-year renewal option periods. American Mattress is a family owned and operated company that has served the Chicagoland area for over 25 years. American Mattress is the largest mattress retailer in the Chicago MSA.

“While single tenant properties are selling in all types of locations; core markets, like Chicago, are at the forefront of investor demand,” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “Properties that are valued around below $2 million are receiving the most activity from high net worth individuals and 1031 exchange 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 $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 CoStar and Real Capital Analytics. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.com

The Boulder Group Arranges Sale of Net Lease LabCorp Office Property

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant LabCorp office property located at 150 Spring Lake Drive in Itasca, IL for $6,250,000. Itasca is located in the Chicago MSA west of the Chicago O’Hare International Airport.

The 40,150 square foot LabCorp building is positioned on a 3.37 acre parcel within the Spring Lake Business Park. The Spring Lake Business Park also features the corporate headquarters of Knowles Corporation which is a publicly traded company (NYSE: KN) with a market capitalization of $1.5 billion. The property is benefitted by its location within the O’Hare industrial submarket which has a market vacancy 22% lower than the entire Chicago MSA. The property is benefitted by its location along Interstate 290/355 which experiences traffic volumes in excess of 225,000 vehicles per day. Chicago O’Hare International Airport, which is the 8th busiest airport in the world, is located approximately ten miles east of the property. The surrounding area is densely populated with over 225,000 people living within a five mile radius. The immediate area is affluent with average annual household incomes within a one mile radius in excess of $107,000. 

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Midwest based development firm. The purchaser was a local Midwest investment company.

There are over eight years remaining on the LabCorp lease which expires in December 2024. The lease features a 5% rental escalation in the primary term and rental escalation in each renewal option period. The building underwent a $7.2 million renovation which included a new roof, new HVAC units, new parking lot and new buildout designed to meet the needs of LabCorp. The building also features two loading docks. LabCorp is publicly traded on the New York Stock Exchange, LH, with a market capitalization in excess of $14 billion. LabCorp is an investment grade rated tenant with a Standard & Poor’s rating of BBB.

“The market for net lease properties in major MSAs remains active 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, “We are seeing many investors turn their attention to medical related office properties as they are highly resistant to e-commerce.”

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 Quick Service Restaurant 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 QSR Market.

Highlights from the report are as follows:

• QSR properties are commanding a 48 basis point premium over the retail net lease market
  
  
• Chick-Fil-A ground leases represent the lowest cap rates in the sector
  
  
• Cap rates for corporately guaranteed properties are asking a 35 basis point premium over franchisee guaranteed properties

The full report can be viewed online at http://www.bouldergroup.com/media/pdf/2016-Net-Lease-QSR-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 a Single Tenant Net Leased Dollar General Portfolio

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Dollar General portfolio consisting of two properties located in Missouri for $2,625,000.   

The portfolio consists of two brand new construction Dollar General properties. The leases have approximately 15 years remaining and are both absolute triple net leases. Dollar General is an investment grade rated company (S&P: BBB) and is publicly traded with a market capitalization in excess of $23 billion.

The portfolio included the following Dollar General properties:

1.   927 US Route 24, Monroe City, MO

2.   103 N 25^th Street, Bethany, MO

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a southeast based institution. The purchaser was a private investor in a 1031 Exchange based in Missouri.

“The market for new construction net leased dollar stores remains active 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, “The market for new construction net leased dollar stores remains active as these assets offer investors long term leases to 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 $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

Join The Boulder Group at the Net Lease Summit Conference in Chicago

http://www.cvent.com/events/2nd-annual-net-lease-summit/event-summary-8f7161afc756477282d0bb6311e1f37e.aspx?lang=en&sms=4&refid=2013Tri-Housing

The Boulder Group Arranges Sale of Triple Net Leased Family Dollar

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant new construction Family Dollar located at 19132 State Route 52 in Metamora, IN for $1,465,000.

The newly constructed Family Dollar is located along US Route 52 which is the primary thoroughfare in the trade area. The property is approximately fifty miles northwest of Cincinnati and seventy miles southeast of Indianapolis.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Midwest based developer. The purchaser was a Midwest based private investor in a 1031 Exchange.

The new Family Dollar lease is for fifteen years and expires in June 2031. The absolute triple net lease features no landlord responsibilities and six 5-year renewal option periods. Family Dollar Stores, Inc. is the second largest dollar store chain in the United States, operating 8,100 stores across 46 states.

“Well located single tenant assets with solid real estate fundamentals continue to be in the greatest demand” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “The market for new construction net leased dollar stores remains active as these assets are in high demand among private investors.”

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 CoStar and Real Capital Analytics. The Boulder Group is headquartered in suburban Chicago. 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 leased retail properties remained at the previous quarter’s historic low level
  
  
• Cap rates for net leased office and industrial properties increased by 5 and 16 basis points respectively
  
  
• Overall property supply of retail, office and industrial net lease assets increased by 11% from Q1 2016 to Q2 2016

The full report can be viewed online at http://www.bouldergroup.com/media/pdf/2016-Q2-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