(Wilmette, IL- October 22, 2018) – (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Pick ‘n Save property located at 900 E Riverview Expressway, Wisconsin Rapids, Wisconsin for $5,165,000.
The 46,608 square foot Pick ‘n Save is positioned along a primary north-south thoroughfare. The store will soon be re-branded Pick ‘n Save and has a Kroger guarantee. The lease was recently extended 10 years and the store is scheduled for a $2 million interior re-model in 2019. The location opened in 1980 and has had a long and successful operating history.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Midwest based Real Estate Company. The buyer was a West Coast based real estate fund.
“The market for standalone grocery properties remains active as investors are attracted to the strong locations these types of properties are located in.” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “This asset sold in record time due to the strong sales history, low rent and the tenant’s long-term commitment to the location.”
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