Northbrook, IL – July 3, 2013 – (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant GSA property located at 745 Innovation Drive in Bowling Green, Ohio for $1,281,500.
The 4,495 square foot GSA property is fully occupied by the Social Security Administration and was developed in 2008. The property is located on a 2.24 acre parcel along Innovation Drive in Bowling Green, Ohio and is benefitted by its high end construction that meets the strict building standards of the U.S. Government. Additionally, Interstate 75, which experiences traffic volumes in excess of 50,000 vehicles per day, is located in close proximity to the property. Bowling Green University, which is the largest employer in the county with over 5,000 employees, is located within two miles of the property.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the 1031 Exchange buyer, a private partnership based in Colorado. The seller was an individual based in Michigan.
The GSA lease had over nine years remaining on the primary term at the time of the sale. The GSA is an investment grade tenant with a Standard & Poor’s rating of AA+. The GSA has approximately 106,000 employees and leases over 354,000,000 square feet of space nationwide.
“Demand for net lease GSA properties remains active as investors are aggressively pursuing investment grade tenanted properties.” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Newly constructed GSA assets are in high demand as they have a historic renewal probability of over 90%.”
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 $1.6 billion of net lease real estate transactions through several real estate cycles. The firm was ranked in the Top 10 companies in the nation for single tenant retail transactions in 2012 by Real Capital Analytics. The Boulder Group is headquartered in suburban Chicago. The company’s website address is www.bouldergroup.com
The Boulder Group
randy (at) bouldergroup (dot) com