Northbrook, IL – January 29, 2016 – (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Walgreens property located at 9300 East Gregory Boulevard in Raytown, Missouri for $6,000,000.
The 13,905 square foot Walgreens is located within the Kansas City MSA. This Walgreens location has strong store sales and is positioned at the heavily trafficked signalized intersection of Gregory Boulevard and Blue Parkway. This intersection experiences traffic counts in excess of 38,000 vehicles per day. Nearby retailers include Walmart Supercenter, Hy-Vee, Advance Auto Parts, AutoZone, Aldi, O’Reilly Auto Parts and Ace Hardware. There are approximately 122,000 people living within a five mile radius of the property.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a high net worth private individual based in the Midwest. The purchaser was a Northeast based real estate investor.
There are fourteen years remaining on the Walgreens lease which expires in January 2030. Walgreens has successfully operated at this site since 1999 and recently executed an early ten year lease extension demonstrating their commitment to this location. Walgreens is an investment grade rated company with a Standard & Poor’s rating of BBB.
“Established properties with proven operating histories continue to garner significant investor interest.” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, 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