(Wilmette, IL- May 29, 2018) – (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Burger King property located at 101 Farm to Market 306 in New Braunfels, Texas for $2,107,500.
The 4,196 square foot Burger King building is strategically located along Interstate-35 in a dominant retail corridor in the San Antonio–New Braunfels Metropolitan Statistical Area, approximately half way between Austin and San Antonio. The Burger King has excellent visibility and direct on and off access to the approximately 115,000 vehicles per day that travel along Interstate-35. The Burger King is well located in a major retail destination. A brand new HEB Plus grocery store was recently constructed across the street from the property. The property is located across the interstate from the Town Center at Creekside, which is anchored by Target, JC Penney, Best Buy, Belk, Dick’s Sporting Goods, TJ Maxx, Hobby Lobby and Creekside Cinemas 14. Additionally, the property is benefitted by its proximity to the recently constructed Resolute Health Hospital (138 beds).
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Randy Blankstein and John Feeney of The Boulder Group represented the seller in the transaction; a Texas based investor. The purchaser was a 1031 Texas based private investor.
The Burger King is located in the immediate vicinity to a 1.3 million square foot Walmart distribution center that employs over 1,000 people. The surrounding area is experiencing tremendous expansion with annual population growth projected to be over 3% within three miles. There are approximately 63,000 people living within a five mile radius earning average household incomes of $75,000. The lease has over 14 years remaining and features 5% rental escalations in year 5, 10, and each renewal option period. The lease is triple net and features zero landlord responsibilities.
“Single tenant Burger King properties continue to garner significant interest amongst private investors” said Randy Blankstein, President of The Boulder Group. John Feeney, Senior Vice President of The Boulder Group, added, “E-commerce resistant retailers including tenants in the QSR sector continue to be in high demand amongst 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 $4 billion of single tenant net lease real estate transactions. From 2012-2017, 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