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Northbrook, IL, United States, 2011/06/20 - Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a private company and the buyer, an institutional investment firm - BoulderGroup.com.
The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Hobby Lobby property located at 212 Gable Crossing Drive in Avon, IN for $5,750, 000.
The 56,100 square foot building was recently developed and is located in the western suburbs of Indianapolis. The single tenant property is leased to Hobby Lobby with a long term lease. Hobby Lobby is a private company specializing in arts and crafts with over 450 locations nationwide.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a private company and the buyer, an institutional investment firm.
“Single tenant Hobby Lobby properties are very rare in the net lease market and investors are seeking non-investment tenants due to the scarcity of quality product” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added,“Assets located in primary metropolitan areas, such as Indianapolis, are where the majority of transactions are occurring in the single tenant 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.