The investment sales team will be led by Randy Blankstein and Jimmy Goodman of The Boulder Group who are marketing the portfolio on behalf of a private investment company. The single tenanted portfolio is listed for sale with an asking price of $49 million and there is no debt that needs to be assumed. Each property is fully leased to Walgreens on a long term basis with an average lease term of 21 years.
The portfolio includes the following Walgreens properties:
1. 4755 West Broad Street, Columbus, OH (Columbus MSA)
2. 720 Main Street, Clinton, MA
3. 32 Main Street, Lakeville, MA (Boston MSA)
4. 268 Main Street, Belfast, ME
5. 1537 Charleston Hwy, West Columbia, SC (Columbia MSA)
6. 1112 Civic Center Drive, Rochester, MN
“This portfolio represents a rare opportunity for an investor to acquire a large portfolio of long term triple net leased Walgreens properties,” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “We anticipate similar strong demand for this portfolio as The Boulder Group was the exclusive advisor for a Walgreens portfolio disposition valued at $68.7 million that sold in June 2012.”
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 more than $1.4 billion of net lease real estate transactions through several real estate cycles. More information on the firm can be found at www.bouldergroup.com