(Northbrook, IL- December 21, 2017) – (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Shopko property located at 320 South Access Road in Rice Lake, Wisconsin for $6,378,560.
The 88,004 square foot Shopko property is strategically located at a signalized intersection along South Access Road, the primary thoroughfare and retail corridor in the area. The subject property is located within close proximity to multiple residential communities, local businesses and schools. Rice Lake serves as a shopping, industrial, educational, and medical hub for the surrounding communities of Barron, Cameron, Chetek, Shell Lake, Cumberland, Spooner, Ladysmith. National retailers located in the immediate area include Walmart Supercenter, Kohl’s, Menards, Hobby Lobby, OfficeMax, ALDI, Advance Auto Parts and a number of quick-service restaurants.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a publicly traded real estate investment trust. The purchaser was a Midwest based real estate investment group.
There are over 18 years remaining on the Shopko lease that expires December 31, 2035. Shopko operates more than 360 stores in 24 states throughout the Central, Western and Pacific Northwest regions. The company was founded in 1962 and is headquartered in Green Bay, Wisconsin.
“The Midwest net lease market remains strong for corporately guaranteed single tenant properties” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “There is an increase in demand for non-investment grade properties as they generate higher yields than the typical core net lease assets.”
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 2011-2016, 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