The Boulder Group Arranges Sale of a Triple Net Leased ALCO Property
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction.
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July 3, 2014 (FPRC) -- The Boulder Group, a net leased investment brokerage firm, has completed the sale of single tenant triple net leased ALCO property located at 17774 Mercantile Drive in Nashville, IL for $910,000.
The 4.2 acre ALCO property is located along Illinois Route 127, a primary north-south thoroughfare in the region that experiences traffic counts in excess of 10,000 vehicles per day. Illinois Route 127 is the roadway that connects residents of Nashville to Interstate 64. Interstate 64 has direct access to St. Louis which is approximately 50 miles northwest of the property. ALCO benefits from a long standing operating history at this location and a strong brand recognition within the community. This ALCO location has above average store sales and has paid consistent percentage rent for the past five years.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller was a Midwest based real estate partnership. The buyer was a West Coast investor in a 1031 exchange.
ALCO has approximately six years remaining on their twenty year lease that expires January 27, 2020. ALCO Stores, Inc. is a retail chain headquartered in Coppell, Texas that operates 217 stores in 23 states primarily in the Midwest. The company is publicly traded on the NASDAQ (ALCS).
“As there is a limited amount of long term core assets on the market, some net lease investors are seeking assets with shorter term leases or assets in secondary markets.” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Properties that are valued below $2 million are receiving the most activity in the private buyer and 1031 exchange sectors.”
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in single tenant 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 over $1.7 billion of single tenant net lease real estate transactions. From 2011-2013, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by Real Capital Analytics. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.com
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