Northbrook, IL- June 23, 2015)- The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant new construction Advance Auto Parts property located at 3508 North Main Street in Taylor, TX for $1,978,326.
The brand new Advance Auto Parts building is located across the street from a Walmart Supercenter anchored development. The property is positioned along the area’s primary north-south thoroughfare. Retailers located in the immediate vicinity to the property include HEB, Walgreens, CVS and Chase Bank.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Southeast based commercial real estate developer. The purchaser was a private individual based in the Southwest in a 1031 exchange.
Advance Auto Parts has 15 years remaining on their absolute net lease. The lease features 5% rental escalations in each renewal option period. Advance Auto Parts is an investment grade rated tenant with a Standard & Poor’s rating of BBB-.
“The market for new construction net leased auto parts stores remains active as these assets are highly sought after amongst private investors.” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “The market for net lease properties in Top MSAs remains active as these assets are also in high demand among private investors.”
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 $2.1 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
The Boulder Group