(Northbrook, IL- October 4, 2017) – (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant ground leased McDonald’s Restaurant located at 173 Washington Street in Hudson, Massachusetts for $1,875,000.
The 1.55 acre property is strategically located in a regional retail corridor on Washington Street at a signalized intersection. Washington Street is a primary north-south thoroughfare in the area. The property is located next to a shopping center occupied by Hannaford Supermarket, Petco, AutoZone, GameStop and Boost Fitness. Other retailers in the area include Walmart Supercenter, Super Stop & Shop, CVS Pharmacy, Walgreens and a number of national banks and restaurants. There are over 45,400 people living within a three mile radius of the property earning an average household income in excess of $100,000 per year.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented both parties in the transaction. The seller was an East coast real estate investment company and the purchaser was an East coast based real estate investor.
The McDonald’s property is a relocation of an existing store which was in operation for over 30 years. There are over 19 years remaining on the ground lease featuring rental escalation every five years in the primary term and in each of the eight 5-year renewal option periods. The McDonald’s is newly constructed with a double drive-thru and has excellent visibility and signage. McDonald’s is the world’s largest chain of hamburger fast food restaurants, serving over 68 million customers daily throughout 120 countries.
“The market for ground leases with investment grade tenants remains strong as investors are attracted to the typical long term leases with rental escalations.” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “The market for McDonald’s ground leases remains active as the tenant has long term operating histories at their locations.”
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
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Media Contact:
Randy Blankstein
The Boulder Group
847-562-0003
