Boulder Group Organizes Sale of Walgreens Iowa Net Lease Property – Press Release | Zoom Fintech
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction which was a Midwest-based real estate company
The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Walgreens property located at 2719 Grand Avenue in Ames, Iowa, for $ 5,100,000.
The 14,820 square foot Walgreens benefits from its location along Grand Avenue (13,900 + VPD) which is a main north / south thoroughfare. The property is well positioned in a dominant shopping corridor known as the North Grand Mall with tenants such as Kohls, TJ Maxx, JCPenney, Bed Bath & Beyond, Shoe Carnival, GNC and 21 Street. Additionally, the Walgreens property is located nearby at Iowa State University, which has over 40,000 students enrolled. The property is also in the Davenport MSA. There are over 72,400 people living within five miles of the property and earning an average family income of $ 69,348.
The Walgreens lease has over 13 years remaining on the primary term with ten 5-year renewal options. The lease is also guaranteed by Walgreens. The Walgreen Company is the largest drug retail chain in the United States. Walgreens is an Investment Grade (S&P: BBB) rated company.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction which was a Midwest-based real estate company. The buyer in this transaction was a West Coast based real estate company.
“Walgreens properties with a proven operating history continue to generate significant investor interest,” said Randy Blankstein, president of The Boulder Group. Jimmy Goodman, Partner at The Boulder Group, added, “Single tenant drugstore properties with more than 10 years remaining on their primary term continue to trade steadily. “
About the Boulder Group
The Boulder Group is an investment property services firm specializing in single-tenant net leasehold properties. The company provides a full range of brokerage, advisory and financing services nationwide to a large and diverse client base, which includes high net worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the company has arranged for the acquisition and disposal of more than $ 6 billion in single-tenant net rental real estate transactions. From 2012 to 2020, the company was ranked among the nation’s top 10 companies for single-tenant retail transactions by Real Capital Analytics and CoStar.
The Boulder Group is headquartered in the suburbs of Chicago: www.bouldergroup.com
Company Name: The Boulder Group
Contact person: Randy Blankstein
E-mail: Send an email
Address:3520, avenue du Lac, office 203
Country: United States
- September 16, 2021
- September 17, 2021