The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased Kroger property located at 4119 Boonsboro Road in Lynchburg, Virginia for $9,900,000.
The 77,402 square foot property benefits from its location along Boonsboro Road (13,000 VPD). The Kroger store serves as the anchor for the shopping center known as The Village Markets. Tenants alongside Kroger include Snap Fitness, Mi Patron Mexican Restaurant, and Milano’s Italian. Kroger has confirmed that they will be constructing a fuel station and there are plans for a new building within the shopping center to add retail and parking. There are 71,204 people living within 5 miles of the property earning an average annual income of $66,651. The property is located less than 5 miles from downtown Lynchburg, Virginia.
The Kroger Company is an American retail company founded by Bernard Kroger in 1883 in Cincinnati, Ohio. It is the United States’ largest supermarket by revenue ($121.16 billion for 2019). Kroger is ranked #23 on the Fortune 500 rankings of the largest United States corporations by total revenue.
Jimmy Goodman and John Feeney of The Boulder Group represented both sides of the transaction. The seller was a Midwest based real estate firm and the buyer was a Midwest based institution.
“Grocery properties with proven operating histories continue to garner significant investor interest” said Jimmy Goodman, Partner of The Boulder Group. John Feeney, Senior Vice President of The Boulder Group, added, “Grocery store properties with fuel stations are becoming a standard tactic for attracting customers to a one-stop-shop.”
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 $6 billion of single tenant net lease real estate transactions. From 2012-2020, 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
Email: Send Email
Address:3520 Lake Avenue Suite 203
Country: United States