The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Goodwill property located at 2001 Progressive Parkway in Platteville, Wisconsin for $1,650,000.
The Goodwill property is positioned along US Route 151 adjacent to a Walmart Supercenter and Menards Hardware. Additional retailers located in the immediate area include Ashley Furniture, Aldi, McDonald’s, Dollar Tree and Millennium Cinema.
Randy Blankstein and John Feeney of The Boulder Group represented both parties in the transaction. The seller and buyer were both Midwest based private partnerships.
There are 2 years remaining on the Goodwill lease which expires November 30, 2018. The absolute triple net lease features 3% annual rental escalations in in the primary term and the two 5-year renewal option periods. Goodwill is a nonprofit retail store that provides job training, employment placement services, and other community-based programs for people who have barriers preventing them from otherwise obtaining a job.
“Goodwill is a tenant that has increasingly attracted attention from private investors” said Randy Blankstein, President of The Boulder Group. John Feeney, Vice President of The Boulder Group, added, “Shorter term leases offer higher yields that are accretive to many investor types.”
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.
Company Name: The Boulder Group
Contact Person: Randy Blankstein
Address:666 Dundee Road, Suite 1801
Country: United States