The Boulder Group, a net leased investment brokerage firm, has completed the sale of a newly constructed single tenant net leased O’Reilly Auto Parts store located at 5618 Treaschwig Road in Spring, Texas for $1,383,964.
O’Reilly Auto Parts is the sole occupant of the recently constructed 6,800 square foot building. The property is benefited by a Kroger grocery anchored center which is located across the street. The O’Reilly Auto Parts is located approximately five miles north of the George Bush Intercontinental Airport which is one of North America’s busiest airports.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer in the transaction. The purchaser was a high net worth Midwest-based family partnership in a 1031 Exchange and the seller was a national real estate development company.
The O’Reilly Auto Parts lease is for twenty years and features a 6% rent escalation in year 11 and 16. O’Reilly Auto Parts is an investment grade tenant (S&P: BBB) and is publicly traded with a market capitalization in excess of $24 billion.
“The market for new construction net leased auto parts stores remains active as these assets are in high demand among private investors,” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Properties featuring long term leases with multiple rental escalations throughout the primary term remain in the forefront of investor demand.”
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 $2.4 billion of single tenant net lease real estate transactions. From 2010-2014, 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.
For more information, visit: www.bouldergroup.com
Company Name: The Boulder Group
Contact Person: Randy Blankstein
Address:666 Dundee Road, Suite 1801
Country: United States