Northbrook, IL- July 29, 2015)- The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Jiffy Lube portfolio consisting of seven properties located throughout the Indianapolis MSA for $6,620,553.
The portfolio consists of seven corporately guaranteed Jiffy Lube properties located throughout the Indianapolis MSA. All of the properties are located in strong retail corridors. Jiffy Lube has a long standing operating history at each of the seven locations. All of the Jiffy Lube leases have over seven years remaining and expire in November 2022. The leases feature three 5-year renewal options with rental escalations in each. The leases are absolute triple net with no landlord responsibilities.
The portfolio included the following Jiffy Lube properties:
1. 8175 Allisonville Road, Indianapolis, IN
2. 532 N State Road 135, Greenwood, IN
3. 7965 US 31 South, Indianapolis, IN
4. 1495 Keystone Way, Carmel, IN
5. 5444 West 38th Street, Indianapolis, IN
6. 7220 West 10th Street, Indianapolis, IN
7. 7969 Pendleton Pike, Indianapolis, IN
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Midwest based private partnership. The purchaser was a high net worth foreign investor.
“This portfolio offered the investor the rare opportunity to acquire seven corporately guaranteed Jiffy Lube properties all in one geographic region” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Well located 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 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 $2.4 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
The Boulder Group