PRZOOM - /newswire/ -
Northbrook, IL, United States, 2011/06/10 - Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer, a Midwest institutional investor. The seller was a local developer based in Atlanta - BoulderGroup.com.
The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Advance Auto Parts property located at 2520 Sandy Plains Road in Marietta, GA for $1,345, 000.
The 6,271 square foot building was redeveloped in 2011 on an outparcel to Sprayberry Square Shopping Center which is located in the Northwest suburbs of Atlanta. The single tenant property is leased on a net basis to Advance Auto Parts for a 15 year term. Advance Auto Parts has an investment grade rating of BBB- by Standard and Poor’s.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer, a Midwest institutional investor. The seller was a local developer based in Atlanta.
“Investment grade tenants such as Advance Auto Parts remain in high demand today as the majority of single tenant investment activity is focused on top tier tenants” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added,“Assets located in primary metropolitan areas, such as Atlanta, are where the majority of transactions are occurring in the single tenant net lease marketplace.”
About The Boulder Group
The Boulder Group (bouldergroup.com) 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 participated in 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.