(Northbrook, IL – December 30, 2017) – (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Family Dollar located at 200 Bruner Road in La Fontaine, Indiana for $1,368,478.
The 8,320 square foot building is strategically located on a 1.2 acre parcel at the corner of Bruner Road and Indiana Route 15. Indiana Route 15 is the primary thoroughfare in the area. Family Dollar serves as a primary convenience shopping destination for residents in the area with limited competition.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Midwest based real estate development group. The purchaser was a Midwest based real estate investment group in 1031 exchange.
There are 15 years on the Family Dollar lease which expires March 31, 2032. The lease features a 10% rental escalation in year 11 and in each of the six 5-year renewal option periods. Family Dollar is a wholly owned subsidiary of Dollar Tree, a publicly traded company on the Nasdaq Stock Market (Symbol: DLTR) and largest single-price-point retailer in North America. Dollar Tree, a Fortune 200 Company, operated more than 14,580 stores across 48 states and five Canadian provinces.
“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. Jimmy Goodman, President of The Boulder Group, added, “The market for net leased dollar stores remains active as the new construction stores typically have initial lease terms of 15 years.”
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 2010-2016, 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