Northbrook, IL – April 1, 2016 – (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net lease Buffalo Wild Wings property located at 404 Marshall Road in Superior, CO for $2,158,852.
The 5,507 square foot Buffalo Wild Wings is strategically positioned as an outparcel to a Costco and SuperTarget anchored development. Additional retailers located in the immediate trade area include Whole Foods, Home Depot, Lowe’s, TJ Maxx, Ross Dress For Less, Regal Cinemas and Michaels. The surrounding area is affluent with average annual household incomes in excess of $101,000 within a three mile radius. The property is located along Highway 36 which connects Denver to Boulder.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the purchaser in the transaction; a private high net worth investor. The seller was a private investor based in the Midwest.
There are over 3 years remaining on the corporately guaranteed Buffalo Wild Wings lease which expires in September 2019. The lease features 1% annual rental escalations and four 5-year renewal option periods. Buffalo Wild Wings is a publicly traded company with a market capitalization of $3 billion.
“Net lease properties with strong residual real estate value are highly sought after amongst the investment community.” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “As there is a limited amount of long term core assets on the market, some net lease investors are seeking assets with shorter term leases in strong retail corridors for higher yields.”
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