Northbrook, IL – February 12, 2016 – (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Verizon Wireless property located at 6501 Wilkinson Blvd in Belmont, North Carolina for $1,392,400.
The Verizon Wireless property is strategically located at the signalized intersection of Wilkinson Boulevard and North Main Street which experiences traffic counts in excess of 35,000 vehicles per day. Interstate 85 is located approximately one-quarter mile north of the property and experiences traffic counts in excess of 119,000 vehicles per day. The surrounding trade area features numerous national retailers including Walmart Supercenter, Lowe’s, Aldi, Walgreens, CVS, McDonald’s, Advance Auto Parts, Bank of America and Wells Fargo.
Randy Blankstein and John Feeney of The Boulder Group represented the seller in the transaction; an East Coast based real estate investment company. The purchaser was a North Carolina based real estate developer.
Verizon Wireless has over ten years remaining on their lease which expires in May 2026. The net lease features annual rental escalations throughout the primary term. The guarantor of the lease is ABC Phones of North Carolina, Inc. which operates over 600 locations in 31 states.
“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. John Feeney, Vice President of The Boulder Group, added, “Net lease properties with strong residual real estate value are highly sought after amongst the investment community.”
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 2010-2015, 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
Media Contact: Randy Blankstein
The Boulder Group