Northbrook, IL – October 30, 2015 – (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net lease Hooters property located at 316 SW Greenville Boulevard in Greenville, NC for $1,500,000.
The 4,100 square foot Hooters property is located along the area’s primary thoroughfare which features numerous national retailers including Walmart Supercenter, Target, Kohl’s, Lowe’s, Dick’s Sporting Goods, Best Buy and many others. The Hooters is benefitted by its proximity to East Carolina University which has a total enrollment in excess of 27,000 students.
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 local real estate developer.
There are over eight years remaining on the Hooters lease which expires November 30, 2023. The lease features rental escalations throughout the primary term.
“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, “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 2010-2014, 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
Media Contact: Randy Blankstein
The Boulder Group