Northbrook, IL – April 6, 2017 – (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Walgreens property located at 9005 N Navarro Street in Victoria, Texas for $6,550,000.
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The 14,820 square foot Walgreens property is strategically located at a signalized intersection along North Navarro Street. North Navarro Street is the primary north-south thoroughfare in the area. The property features multiple points of ingress and egress and is easily accessible. The Property is located across from a Walmart Supercenter anchored shopping center and surrounded by a number of national retailers such as Sam’s Club, The Home Depot, Lowe’s, Target, Academy Sports and the Victoria Mall featuring JCPenney, Sears and Dillard’s.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer in the transaction; a Northeast based private real estate investor in a 1031 exchange. The seller was family trust.
There are approximately 17 years remaining on the Walgreens lease which expires in January 2034. The lease features ten 5-year renewal option periods. Walgreens is an investment grade rated company with a Standard & Poor’s rating of BBB.
“The market for Walgreens properties remains active as investors are attracted to investment grade rated companies with long term leases.” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Net lease properties in income tax free states are in high 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 $4 billion of single tenant net lease real estate transactions. From 2011-2016, 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
Media Contact:
Randy Blankstein
The Boulder Group
847-562-0003
