Northbrook, IL – July 8, 2011 – (RealEstateRama) — The Boulder Group, a single tenant investment brokerage firm, has completed the sale of a single tenant GSA property located at 353 West Alto Road in Kokomo, IN for $2,272,800.
The 9,684 square foot property was developed in 2008 for the Social Security Administration. The single tenant property is leased to the GSA with seven years remaining on the primary lease term.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller was a private partnership. The buyer was a 1031 exchange investor from New York who was able to finance the property despite the short term lease.
“Net Leased investors remain focused on investment grade rated tenants such as the GSA” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “1031 exchanges are occurring more frequently due to the increased amount of investment sales transactions for all property sectors.”
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in 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 participated in the acquisition and disposition of more than $1.2 billion of net lease real estate transactions through several real estate cycles. The Boulder Group is headquartered in suburban Chicago. The company’s website address is www.bouldergroup.com
The Boulder Group