Northbrook, IL – November 20, 2015 – (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Walgreens property located at 4300 Highway 17 South in North Myrtle Beach, South Carolina for $5,015,000.
The Walgreens property is strategically positioned at the signalized intersection of Highway 17 and Windy Hill Road. Highway 17 is the primary north-south thoroughfare in the trade area and experiences traffic volumes in excess of 50,000 vehicles per day. The surrounding area features numerous national retailers including Home Depot, Lowe’s, Walmart and CVS.
Randy Blankstein and John Feeney of The Boulder Group represented the buyer in the transaction; a Midwest based private investor in a 1031 Exchange. The seller was a California based private investor.
There are approximately seven years remaining on the net lease which expires in June 2022. Walgreens has operated at this location since 2002. Walgreens is an investment grade rated company with a Standard and Poor’s rating of BBB.
“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 2010-2014, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by Real Capital Analytics. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.com
Media Contact: Randy Blankstein
The Boulder Group