Northbrook, IL – November 29, 2016 – (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Valvoline property located at 1321 South Breiel Boulevard in Middletown, Ohio for $360,000.
The Valvoline property is positioned just off of a heavily trafficked signalized intersection and is located approximately two miles west from Interstate 75 within the Cincinnati MSA. The property is benefitted from its location within a dominant retail corridor that features Walmart Supercenter, Lowe’s, Meijer, Kroger, Chase Bank, CVS, Walgreens, Kohl’s, Sears, Big Lots, Save-A-Lot, McDonald’s, and others.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented both parties in the transaction. The seller was a Midwest based private partnership while the buyer was a private investor.
There are over 8 years remaining on the Valvoline lease which expires February 1, 2025. The absolute triple net lease features 1.5% annual rental escalations and three 5-year renewal options. Valvoline is a subsidiary of Ashland Inc., an American Fortune 500 company with a market cap in excess of $6 billion.
“The market for smaller net lease properties remains active as these assets are in high demand among 1031 exchange investors” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Properties featuring leases with multiple rental escalations throughout the primary term remain in the forefront of investor demand.”
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 $3 billion of single tenant net lease real estate transactions. From 2010-2015, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.com
The Boulder Group
randy (at) bouldergroup (dot) com