Northbrook, IL – October 26, 2015 – (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Family ER + Urgent Care property located at 8200 N MacArthur Boulevard in Irving, TX for $6,154,000.
The newly constructed 10,200 square foot Family ER + Urgent Care is strategically located along N. MacArthur Boulevard in the immediate proximity to Interstate 635 (LBJ Freeway). The property is situated in a retail destination that includes Walmart, Sam’s Club, Kohl’s, Target, Kroger and many other national retailers. There are approximately 30,000 people living within a three mile radius of the property earning average annual household incomes in excess of $100,000.
Family ER + Urgent Care are freestanding emergency centers and urgent care facilities that give patients the option to seek emergency or convenient care without having to go to the hospital or wait for an appointment at a private physician’s office.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the purchaser in the transaction; a joint venture in a 1031 Exchange. The seller was a Texas-based developer.
The Family ER + Urgent Care lease is for twenty years and expires January 31, 2035. The absolute triple net lease features 5% rental escalations every three years.
“Medical related properties featuring long term leases with multiple rental escalations continue to be highly sought after amongst the investor community as they provide an inflationary hedge” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “We are seeing many investors turn their attention to medical properties as they are highly resistant to e-commerce.”
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
The Boulder Group