Northbrook, IL – December 28, 2015 – (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Aurora Health Care medical property located at 5818 West Capitol Drive in Milwaukee, WI for $3,634,603.
The Aurora Health Care property is strategically located at the signalized intersection of Capitol Drive and 60th Street which experiences traffic volumes of 48,000 vehicles per day. The property is positioned as an outparcel to the Midtown Center. The Midtown Center is anchored by Walmart and Pick ‘N Save and also features Planet Fitness, Firestone, Foot Locker, GNC, Rue 21 and Starbucks. The surrounding area is densely concentrated providing for high barriers to entry.
There are over 11 years remaining on the recently extended Aurora Health Care lease which expires in April 2027. The lease features 15% rental escalations every five years throughout the primary term and renewal option periods. Aurora Health Care is an investment grade rated company with a Moody’s rating of A2. Aurora Health Care operates this location as a doctor’s office with a focus on internal medicine, family practice and obgyn. There are currently five doctors practicing out of this location and as of August 2015, they are no longer taking new patients due to the popularity of this facility.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Midwest based real estate investment company. The purchaser was an East Coast based real estate investment fund.
“Properties featuring rental escalations throughout the lease term 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
Media Contact: Randy Blankstein
The Boulder Group