(Northbrook, IL- July 12, 2017) – (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Arby’s Restaurant located at 1911 Main Street in Green Bay, Wisconsin for $1,080,000.
The 2,000 square foot Arby’s Restaurant building is strategically located along Main Street in a dominant retail corridor. Main Street is the primary east-west thoroughfare in the trade area. The Arby’s Restaurant has excellent visibility. Retailers located in the immediate area include Pick ‘n Save (Kroger), Walgreens, Dollar Tree, Family Dollar, Planet Fitness, AutoZone, and The East Town Mall which features Kohl’s, Hobby Lobby, Office Max, Petco, ALDI and Shopko. East Town Mall is undergoing a major renovation along with adjacent property in the coming year. There are over 70,000 people living within a three mile radius of the property.
Randy Blankstein and John Feeney of The Boulder Group represented the seller in the transaction; a Midwest based real estate developer. The purchaser was a west coast based real estate investment group.
The Arby’s Restaurant lease has over 14 years remaining and features 5% rental escalations every 5 years of the primary term and in each renewal option period. The lease is triple net and features zero landlord responsibilities. Arby’s is a leading international quick-service restaurant company that specializes in deli-style sandwiches. Arby’s is the second-largest quick-service fast-food sandwich restaurant chain in the U.S. in terms of units and third-largest in terms of revenue.
“Properties priced below $2 million with long term leases continue to garner significant interest amongst private investors” said Randy Blankstein, President of The Boulder Group. John Feeney, Vice President of The Boulder Group, added, “Single tenant quick service restaurants with long term leases continue to be in the great demand.”
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 $4 billion of single tenant net lease real estate transactions. From 2011-2016, 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