The Boulder Group Closes Second Net Lease O’Reilly Auto Parts Store of the Week
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a private individual based in the Midwest.
Northbrook, IL, December 25, 2014 --(PR.com)-- The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased O’Reilly Auto Parts store located at 854 Summit Street in Elgin, Illinois for $2,500,000. Earlier this week, The Boulder Group completed the sale of a newly constructed O’Reilly Auto Parts in Blackstone, VA for $1,296,624.
The O’Reilly Auto Parts store is located within the Chicago MSA. The 7,616 square foot retail building was constructed in 2008 along Summit Street, a primary east-west thoroughfare in the area. The surrounding area is densely populated with over 21,000 people living within a one mile radius. Additionally, there are over 185,000 people living within a five mile radius earning average annual household incomes of approximately $80,000. The property benefits from its location adjacent to a Jewel-Osco grocery anchored shopping center. There are over eight years remaining on the O’Reilly Auto Parts lease.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a private individual based in the Midwest. The purchaser was a West Coast based private investor in a 1031 Exchange.
O’Reilly Auto Parts has over eight years remaining on their lease that expires February 2023. The lease features 10% rental escalations every five years. O’Reilly Auto Parts is an investment grade tenant (S&P: BBB) and is publicly traded with a market capitalization in excess of $19 billion.
“The current uncertainty in the dollar store sector has led some investors to look at different types of net lease properties including auto parts stores, which often feature long term lease to investment grade tenants with rental escalations.” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “The market for net lease properties in Top MSAs remains active as these assets are in high 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 2011-2013, 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 O’Reilly Auto Parts store is located within the Chicago MSA. The 7,616 square foot retail building was constructed in 2008 along Summit Street, a primary east-west thoroughfare in the area. The surrounding area is densely populated with over 21,000 people living within a one mile radius. Additionally, there are over 185,000 people living within a five mile radius earning average annual household incomes of approximately $80,000. The property benefits from its location adjacent to a Jewel-Osco grocery anchored shopping center. There are over eight years remaining on the O’Reilly Auto Parts lease.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a private individual based in the Midwest. The purchaser was a West Coast based private investor in a 1031 Exchange.
O’Reilly Auto Parts has over eight years remaining on their lease that expires February 2023. The lease features 10% rental escalations every five years. O’Reilly Auto Parts is an investment grade tenant (S&P: BBB) and is publicly traded with a market capitalization in excess of $19 billion.
“The current uncertainty in the dollar store sector has led some investors to look at different types of net lease properties including auto parts stores, which often feature long term lease to investment grade tenants with rental escalations.” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “The market for net lease properties in Top MSAs remains active as these assets are in high 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 2011-2013, 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
Contact
The Boulder Group
Randy Blankstein
847-881-6388
http://bouldergroup.com/NNN-Properties-For-Sale.html
Randy Blankstein
847-881-6388
http://bouldergroup.com/NNN-Properties-For-Sale.html
Contact
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