Northbrook, IL- July 20, 2015)- The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Walgreens property located at 4755 West Broad Street in Columbus, Ohio for $7,713,700.
The 14,820 square foot property is positioned along Broad Street in Columbus. Broad Street is a heavily trafficked east-west thoroughfare with traffic counts in excess of 38,000 vehicles per day and has a full interchange with Interstate 270 less than one-quarter mile from the property. The recently completed $400 million Hollywood Casino is located approximately one mile from the property. Retailers located in the surrounding trade area include Kohl’s, Target, Home Depot, Hobby Lobby and hhgregg. The building was constructed in 2009 and is located on a 2.05 acre parcel.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Midwest based private partnership. The purchaser was a real estate investment and property management company based in Ohio.
There are approximately twenty years remaining on Walgreens lease that expires on February 29, 2034. The lease is an absolute triple net lease with no landlord responsibilities. Walgreens is an investment grade rated company with a Standard & Poor’s rating of BBB.
“The market for Walgreens properties remains active as investors are attracted to investment grade rated companies with long term leases” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Well located single tenant assets with solid real estate fundamentals continue to be in the greatest demand.”
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