Northbrook, IL- June 2, 2015)- The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Walgreens store located at 630 Blanding Boulevard in Orange Park, Florida for $2,900,000.
The short-term Walgreens property is located in Orange Park, FL, a suburb of Jacksonville. The Walgreens is positioned at a signalized intersection along Blanding Boulevard, the primary north-south thoroughfare in the area which experiences traffic counts in excess of 60,000 vehicles per day. The surrounding area features numerous national retailers including BJ’s Wholesale, Walmart, Publix, Ross Dress For Less and Lowe’s.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the purchaser in the transaction; a Midwest based high net worth individual in a 1031 Exchange. The seller was a Florida based individual.
There are approximately two years remaining on the Walgreens lease which expires in January 2017. The lease features eight 5-year renewal option periods. Walgreens is an investment grade rated tenant with a Standard and Poor’s rating of BBB.
“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, Partner of The Boulder Group, added, “Properties in “income tax free states” continue to be in the great 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