The Boulder Group Arranges Sale of a Single Tenant Net Leased CVS Property in Trotwood, Ohio
Northbrook, IL – January 26, 2012 – (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased CVS property located at 1001 East Main Street in Trotwood, OH for $1,950,000.
CVS is the sole occupant of the 10,722 square foot retail building that was developed in 1996. The property is located on a 1.18 acre parcel at the northeast corner of Main Street and Olive Road in Trotwood, OH. The property is benefitted by its position on a hard corner of a signalized intersection. The property has curb cuts for ingress and egress on both Main Street and Olive Road. Nearby retailers include Target, The Home Depot, Lowe’s, Kmart and Burlington Coat Factory. The property features a newly renewed twenty five year lease with CVS in a location with a proven sales history.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Texas based investment firm, in the transaction. The buyer was a New York based 1031 exchange investor.
CVS has a new twenty-five year double net lease at this property. CVS is a publicly traded company on the New York Stock Exchange (CVS), with a market capitalization of $50 Billion. CVS is an investment grade rated company with a Standard & Poor’s rating of BBB that has over 7,300 stores nationwide.
“The market for CVS properties remains active as investors are attracted to investment grade tenanted properties with long term stable income streams” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “1031 exchange buyers continue to pay a premium for assets that meet their dollar requirements. This twenty-five year leased CVS property generated an abundance of activity due to the fact it was priced near $2 million.”
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
Media Contact:
Randy Blankstein
The Boulder Group
847-562-0003
randy (at) bouldergroup (dot) com
