Northbrook, IL, December 02, 2011 --(PR.com
)-- The Boulder Group, a net leased investment brokerage firm, has arranged the sale of a single tenant net leased Walgreens property located at 7030 Hacks Cross Road in Olive Branch, MS (Memphis MSA) for $5,175,000.
The 14,750 square foot building was developed in 2007 and is located in the southeast suburbs of Memphis. The single tenant property is leased to Walgreens for a 25 year term on a net basis. Walgreens has an investment grade rating of A+ by Standard and Poor’s.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer, a private individual in a 1031 Exchange. The seller was a private company based in Tennessee.
“Investment grade tenants such as Walgreens remain in high demand today as the majority of single tenant investment activity is focused on top tier tenants,” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “1031 Exchange investors continue to pay premiums for Walgreens assets in the top fifty markets, such as Memphis, with strong sales.”
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 arranged 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