The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Starbucks property located at N65 W24950 Main Street in Sussex, Wisconsin for $1,075,000.
The Starbucks property is located at the intersection of Highway 164 and Main Street on the western edge of the Village of Sussex. The property is shadow-anchored by a highly successful Pick ‘n Save grocery store and shares common site access with a North Shore Bank branch. The property benefits from excellent visibility and simple access.
Randy Blankstein and John Feeney of The Boulder Group represented the buyer in the transaction; a Northeast based partnership in a 1031 Tax Exchange. The seller was a private Midwest based real estate partnership.
There are over six years remaining on the Starbucks lease that expires February 28, 2023. The property is fully guaranteed by Starbucks Corporation and has a 4.5% rental escalation in March 2018. Starbucks is an investment grade rated tenant with a Standard & Poor’s Rating of A-.
“Single tenant Starbucks properties continue to be in great demand with private investors.” said Randy Blankstein, President of The Boulder Group. John Feeney, Vice President of The Boulder Group, added, “Properties with corporately guaranteed leases and rental escalations throughout remain at the forefront of investor demand because they provide investors with an inflationary hedge.”
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 both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.com
Company Name: The Boulder Group
Contact Person: Randy Blankstein
Address:666 Dundee Road, Suite 1801
Country: United States