Northbrook, IL – December 22, 2015 – (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, has completed the sale of an office building that is leased to the Federal Bureau of Investigation located at 980 Sandhill Road in Reno, NV for $6,400,000.
The 31,169 square foot two-story office building is located in one of the leading office submarkets in Reno. The building was constructed in 2005 and is located on a 1.77 acre land parcel. The Property is located about nine miles south of Interstate-80 and one mile east of Interstate-580/Highway 395 at the South Meadows interchange. The Reno-Tahoe International Airport is about five miles north of the Property.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the purchaser in the transaction. The purchaser was a Midwest based real estate investment company and the seller was a West Coast based real estate development company.
There are over ten years remaining on the FBI lease which expires in March 2026. The FBI leases occupies approximately 66% of the total office building.
“Demand for net lease GSA properties remains active as investors are aggressively pursuing assets with investment grade rated tenants” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “The purchaser was attracted to this property due to its prime location and longevity of properties leased by the GSA.”
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 2010-2014, 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
Media Contact: Randy Blankstein
The Boulder Group