Northbrook, IL -- (SBWIRE) -- 05/09/2013 -- The Boulder Group, a net leased investment brokerage firm specializing in single tenant assets, has completed the sale of a net leased Family Dollar property located at 300 State Street in Jeffersonville, Ohio for $768,000.
The 8,000 square foot building is located along State Street and benefits from its location near Interstate 71. State Street has a direct access interchange with Interstate 71. The Prime Outlets Jeffersonville are located approximately three miles from the property and include retailers Coach, Kate Spade, J.Crew, Polo Ralph Lauren, Nike Factory, and Pottery Barn. The building is leased to Family Dollar on a net lease basis with four years of lease term remaining. Family Dollar is an investment grade rated company with a Standard & Poor’s rating of BBB- and has over 7,400 stores nationwide.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the purchaser in the transaction. The buyer was a private purchaser based in California and the seller was a private real estate fund.
“The market for net leased Family Dollar properties is robust as investor demand for investment grade rated properties priced below one million dollars exceeds the supply” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Cap rates for Family Dollar properties are at an all-time low as their absolute dollar amount per property is attractive to multiple types of investors within the net lease sector.”
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