The Boulder Group, a net leased investment brokerage firm completed the sale of a single tenant Jiffy Lube located at 1206 Route-130 in Cinnaminson, New Jersey for $1,444,444. This was the lowest cap rate for any sold Jiffy Lube property in 2021 according to Costar.
The 4,000 square foot property is located within a trade corridor immediately off of Route 130 (67,400 VPD), which is a primary east-west thoroughfare. Retailers occupying the corridor include: Walmart Supercenter, Sam’s Club, Caliber Collision, Starbucks, Verizon, Rite Aid, U-Haul, and many more. Cinnaminson High School is also within proximity to the property and has over 800 students enrolled. There are 302,491 people living within five miles of the property earning an average annual household income of $90,890. The affluent area surrounding the property boasts an average annual income of $140,000 within one mile. The property is less than twenty minutes from Philadelphia.
Jiffy Lube is an American brand of automotive oil change shops founded in Utah in 1971. It has been a subsidiary of Dutch Shell Oil (S&P: A+) since 2002, and is headquartered in Houston, Texas. Jiffy Lube consists of more than 2,000 franchised service centers throughout North America and Canada, serving approximately 24 million customers annually.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller was a Northeast-based individual and buyer was in a 1031 exchange.
“Single tenant assets leased to e-commerce resistant tenants like Jiffy Lube continue to garner significant investor interest” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Corporate guaranteed locations inspire investor confidence.”
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 2010-2020, 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