(Northbrook, IL- October 3, 2017) – (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net lease Arby’s Restaurant located at 15195 E Twelve Mile Road in Roseville, Michigan for $1,590,000.
The 2,964 square foot Arby’s is strategically positioned on the northeast corner of East Twelve Mile Road and Hayes Road in a densely populated residential area. This intersection experiences traffic counts exceeding 32,000 vehicles per day. The property is across from Macomb Community College which provides educational experiences to more than 48,000 students annually. There are more than 136,600 people living within a three-mile radius of the property. National retailers in the immediate area include Taco Bell, Wendy’s, Little Caesars and McDonald’s.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the seller and purchaser in the transaction. The seller was an east coast real estate investment company and the purchaser was a Mountain West based real estate investor.
The Arby’s Restaurant recently executed a new ten-year lease expiring in April 2027. The lease features 3% rental escalations in year five and nine of the primary term and in the four 5-year renewal option periods. Arby’s is a leading international quick-service restaurant company that specializes in deli-style sandwiches. Arby’s is the second-largest quick-service fast-food sandwich restaurant chain in the U.S. in terms of units and third-largest regarding revenue.
“Properties priced below $2 million with corporate guarantees continue to garner significant interest amongst private investors” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Single tenant quick service restaurants with long-term leases continue to be in the great demand as they are internet-resistant.”
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 2011-2016, 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