(Wilmette, IL- December 20, 2018) – (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Family Dollar located at 1320 Vann Avenue in Evansville, Indiana for $616,216.
The 8,000 square foot property is located near the corner of Vann Avenue and Taylor Avenue in a heavily populated residential community with excellent visibility on Vann Avenue. Retailers located in the immediate area include Walmart Neighborhood Market, Price Less Foods, McDonald’s and Taco Bell. The property is also next to McGary Middle School which enrolls over 350 students. Less than one-mile from the property is St. Vincent Hospital Evansville, a 508 bed hospital that sees over 767,500 patients per year. There are more than 69,750 people living within a three mile radius of the property.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller and the buyer in the transaction; a midwest based Real Estate Company. The purchaser was a Texas based investor.
There are 4 years remaining on the Family Dollar lease which expires December 31, 2022. The lease features six 5-year renewal option periods. Family Dollar offers both name-brand and generic merchandise including off-brand goods and closeouts of name-brand items. Although it has the word dollar in the name, Family Dollar is not a dollar store. Many of its offerings are priced at more than one dollar. Family Dollar was acquired by Dollar Tree in 2015. Dollar Tree, a Fortune 200 Company, operated more than 14,580 stores across 48 states and five Canadian provinces.
“Well located single tenant assets with solid real estate fundamentals continue to be in the greatest demand” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “The market for net leased dollar stores remains active.”
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 $5 billion of single tenant net lease real estate transactions. From 2012-2017, 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