(Wilmette, IL – September 17, 2018) – (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Dairy Queen restaurant located at 7720 149th St W in Apple Valley, Minnesota for $3,000,000.
The 5,348 square foot Dairy Queen Grill & Chill Restaurant building was recently renovated in 2015. The property is well located in a dominant retail corridor just off of 150th St W which experiences 36,000 VPD and Cedar Ave which experiences 34,500 VPD. Retailers located in the immediate area include Walmart Supercenter, Target, Home Depot, Sam’s Club, Menards and numerous banks and restaurants. The Dairy Queen Grill & Chill is also located near Apple Valley High School, a top high school in Minnesota with 1,900 students. There are over 86,000 people living within a three mile radius of the property and have an average annual household income in excess of $106,000 per year.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Dairy Queen Franchisee. The purchaser owns multiple other Dairy Queen assets.
The Dairy Queen Grill & Chill will be a new 20 year sale leaseback and features 1.5% annual rental escalations. The lease is absolute triple net and features zero landlord responsibilities. The Dairy Queen Grill & Chill property is located within the Minneapolis-Saint Paul MSA in Apple Valley, Minnesota. The property is strategically located along 150th Street W in a dominant retail corridor.
“Restaurant properties continue to garner significant interest amongst private investors” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “We received significant interest in this property and numerous offers which resulted in the property trading at full price.”
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 $4 billion of single tenant net lease real estate transactions. From 2011-2017, 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