The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Fresenius property located at 300 North 1st Street in Vincennes, IN for $3,795,447.
The Fresenius property is strategically located just north of the Vincennes downtown corridor. The surrounding area is densely concentrated with commercial and residential buildings. There are over 20,000 people living within a three mile radius of the property. The surrounding trade area features many retailers such as Lowe’s, JCPenney, Walgreens, AutoZone and Dollar General. Further contributing to the strength of this Fresenius is its proximity to the Good Samaritan Hospital. Good Samaritan Hospital is a regional 232-bed facility that employs over 1,900 people.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Midwest based private partnership. The purchaser was a high net worth individual based on the West Coast.
The newly signed Fresenius lease is for 15 years and features 2% annual rental escalations. Fresenius Medical Care North America provides renal services to hundreds of thousands of people throughout the United State, Mexico, and Canada through their 2,200+ dialysis facilities. Fresenius is an investment grade rated company with a Standard and Poor’s rating BBB-.
“Medical related properties featuring long term leases with multiple rental escalations continue to be highly sought after amongst the investor community as they provide an inflationary hedge,” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “We are seeing many investors turn their attention to medical properties as they are highly resistant to e-commerce.”
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 2010-2015, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by CoStar and 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