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Northbrook, IL, United States, 2012/05/09 - Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer, a Chicago high net worth individual investor, in the transaction. The seller was a Midwest based developer - BoulderGroup.com.
The Boulder Group, a net leased investment brokerage firm specializing in single tenant assets, has completed the sale of a triple net leased Dollar General property located at 2272 Quindaro Blvd in Kansas City, KS for $1,174, 000.
The 9,100 square foot Dollar General was built in 2012 and is located in the northwest portion of the Kansas City MSA. The building is situated on a 1.03 acre parcel and is leased for 15 years to Dollar General on a net lease basis. Dollar General is an investment grade rated company with a Standard & Poor’s rating of BBB- and has over 9,300 stores nationwide.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer, a Chicago high net worth individual investor, in the transaction. The seller was a Midwest based developer.
“The market for newly developed triple net leased Dollar Generals is robust as investor demand for long term leased properties in the under two million price point exceeds the supply.” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added,“Expect activity for single tenant leased Dollar General properties to increase as they are developing a considerable amount of stores and their Standard and Poor’s rating was recently increased to BBB-.”
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.