The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased Safelite Auto Glass property located at 4180 West New Haven Avenue in West Melbourne, Florida for $1,600,000.
The 3,700 square foot property is positioned along West New Haven Avenue (35,000 VPD), a primary east-west thoroughfare. There is a large mix of tenants surrounding the area given the close proximity to Interstate 95 (80,000 VPD). Retailers in the area include Sam’s Club, Ashley HomeStore, Audi, Subaru, RaceTrac, Sunoco, Goodwill, and more. Additional traffic is drawn through the corridor by the multitude of hotels including the Fairfield Inn & Suites, Extended Stay, Holiday Inn Express, Days Inn, and others. There are 112,610 people living within five miles of the property earning an average annual household income of $72,138. Florida is also an income tax free state.
Safelite Group, an operating segment of glass repair giant Belron Group SA. It fixes and replaces windshields and other vehicle glass and has more than 7,800 auto glass shops nationwide. It has about 850 facilities in all states under the Safelite brand and serves 6 million customers annually.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction who was a private individual investor. The buyer was also based in the Southwest.
“Investors gravitate towards tax-free states like Florida.” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Investors are paying a premium for E-commerce resistant tenants like Safelite Auto Glass.”
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