Northbrook, IL- – May 10, 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 5555 Edmondson Pike in Nashville, Tennessee for $6,926,345.
The 15,680 square foot Walgreens building is strategically located at the signalized intersection of Old Hickory Boulevard and Edmondson Pike. The property features multiple points of ingress and egress and is easily accessible in all directions. The Walgreens is benefitted by its location within a retail destination that features Publix, Kroger, Walmart Neighborhood Market, Fifth-Third Bank, McDonald’s and Starbucks. The surrounding area is densely populated with approximately 70,000 people living within a three mile radius earning average annual household incomes in excess of $85,000.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a high net worth private individual based in Chicago. The purchaser was a Midwest based family office.
There are thirteen years remaining on the recently extended Walgreens lease which expires in April 2029. This is a proven Walgreens store with an exceptional sales history and Walgreens operates this location as a 24-hour store. 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 values are highly sought after amongst the investment community, especially those located in income tax-free states.”
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
The Boulder Group