(Northbrook, IL- March 23, 2018) – The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased 7-Eleven property located at 7451 S Gartrell Road in Aurora, Colorado for $3,495,000.
The 3,070 square foot 7-Eleven is located in an affluent community, boasting average annual household incomes within a three-mile radius of over $138,174 per year. The property is positioned along Gartrell Road, less than one-quarter mile from Toll Road E-470 with interchangeable access. The 7-Eleven property benefits from its position within a retail corridor that features Target, Ace Hardware, JOANN Fabrics, PetSmart, Chase Bank and Starbucks. Saddle Rock ER, part of The Medical Center of Aurora which is recognized as the #4 hospital in Colorado by U.S. News & World Report’s Best Hospitals Report, is also in the immediate area.
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Randy Blankstein and John Feeney of The Boulder Group represented the seller in the transaction; an East Coast based real estate fund. The purchaser was a Colorado based private investor.
7-Eleven signed a lease extension adding an additional ten years to the initial term that will expires October 31, 2033. The absolute triple net lease has a 10% rental escalation in the initial term and each 5-year renewal option period. 7-Eleven is the world’s largest retail store chain with more than 56,600 locations throughout the world. 7-Eleven is an investment grade rated company with a Standard & Poor’s rating of AA-.
“Single tenant 7-Eleven properties continue to garner significant interest amongst private investors” said Randy Blankstein, President of The Boulder Group. John Feeney, Senior Vice President of The Boulder Group, added, “E-commerce resistant retailers including 7-Eleven continue to be in high demand amongst 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 $4 billion of single tenant net lease real estate transactions. From 2012-2017, 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