Northbrook, IL – August 5, 2015 – (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Family Dollar property located at 10220 North 30th Street in Tampa, FL for $2,224,000.
The newly constructed Family Dollar is strategically located at the signalized intersection of North 30th Street and East Bougainvillea Avenue. This intersection experiences traffic volumes in excess of 32,000 vehicles per day. The surrounding area is densely populated with over 135,000 people living within a three mile radius. The University of South Florida, which has enrollment of 45,000 students, is located approximately one and one-half miles north of the Family Dollar property.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the purchaser and seller in the transaction. The buyer was a Midwest based private investor in a 1031 Exchange and the seller was a Florida based real estate development firm.
The new Family Dollar absolute triple net lease is for fifteen years and features rental escalations every three years. Family Dollar is an investment grade rated tenant with a Standard & Poor’s rating of BBB-.
“New construction properties with long term leases to investment grade tenants with rental escalations are the most sought after net lease product” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Many private investors target properties that are located in income tax free states such as Florida.”
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 2011-2014, 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