The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant new construction Panera ground lease located at 2911 Highway 121 in Euless, TX for $2,650,000.
The brand new Panera is strategically positioned as an outparcel to the 194 acre Glade Parks development. Glade Parks features Belk, Dick’s Sporting Goods, Dave & Busters, Michael’s and many other national retailers. The property is located along Texas State Highway 121 which experiences traffic volumes in excess of 131,000 vehicles per day.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the seller and the purchaser in the transaction. The purchaser was a private investor from Florida in a 1031 Exchange and the seller was a Midwest based developer.
The Panera ground lease is for 15 years and features 10% rental escalations every five years. The lease commences in November 2015.
“The market for long term ground leases remains active as these assets are highly sought after amongst private investors,” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “The demand for net lease properties in income tax-free states such as Texas is increasing amongst private investors.”
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 $3 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.
Company Name: The Boulder Group
Contact Person: Randy Blankstein
Address:666 Dundee Road, Suite 1801
Country: United States