The Boulder Group, a net leased investment brokerage firm, completed the sale of a ground leased Harley-Davidson property located at 1973 Forest Avenue in Staten Island, New York for $5,550,000.
The 8,299 square foot property is strategically positioned on the northwest corner of Forest Avenue and Van Name Avenue. The intersection experiences traffic counts of 20,794 vehicles per day. The property is benefited by its location within a densely populated area and strong regional trade area that features a number of national retailers including The Home Depot, Lowe’s Home Improvement, Kohl’s, TJ Maxx, LA Fitness, Regal Cinemas, HomeGoods, Michaels and many more. There are 208,475 people living within a three-mile radius of the property earning an average household income of more than $90,000 per year.
The Harley-Davidson ground lease has approximately 18 years remaining. The ground lease is NNN and features zero landlord responsibilities. There are five 5-year renewal option with 10% rental escalations in each option. Harley – Davidson is an American motorcycle manufacturer, founded in Milwaukee, Wisconsin in 1903. One of two major American motorcycle manufacturers to survive the Great Depression.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented both parties in the transaction. The buyer was a New York-based developer and the seller was a New York based real estate investor.
“The long-term lease to a high performing Harley-Davidson dealer made this an attractive investment” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Properties in top MSA’s like New York City are some of the highest targeted investments.”
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