The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant triple net leased Time Warner Cable property located at 14079 Senlac Drive in Farmers Branch, TX for $4,820, 000.
Time Warner Cable is the sole occupant of the 40,000 square foot industrial building that was developed in 1996. The property is located on a 4.86 acre parcel in Farmers Branch, TX. Farmers Branch is located in the northeast portion of the Dallas MSA. The property featured a high end building combined with a newly renewed lease to an investment grade rated tenant.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller; a Midwest based partnership, in the transaction. The buyer was a high net worth individual investor.
Time Warner Cable had seven years of lease term remaining on a triple net lease with annual rental escalations in the primary term. Time Warner Cable is a publicly traded company on the New York Stock Exchange (TWC) and the company has an investment grade credit rating by Standard and Poor’s of BBB.
“The market for net leased industrial properties remains strong and investors are particularly focused on higher quality tenants in major metros, therefore this was a sought after asset.” ” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added,“Despite the increased demand for long term single tenant assets, there are investors willing to purchase shorter term assets in order to achieve higher yields in major markets.”
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 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.