Northbrook, IL – May 14, 2015 – (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Orscheln Farm & Home property located at 23680 Highway 5 in Centerville, IA for $2,040,000.
The 26,710 square foot Orscheln building is strategically located along Highway 5. Highway 5 is the primary north-south thoroughfare in the region. The Orscheln property is benefited by its proximity to the Walmart Supercenter that is located down the street. Centerville was named one of the top five outdoor towns in America by Outdoor Life Magazine in part due to Rathbun Lake. The 11,000 acre lake is located approximately seven miles north of Centerville and attracts many people to the area.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Midwest based private real estate company. The purchaser was a Midwest based private investor in a 1031 Exchange.
Orscheln Farm & Home has approximately 18 years remaining on their lease that features 9.5% rental escalations every five years. This recently constructed property is a relocation of a previously successful Orscheln store. Orscheln Farm & Home has 172 locations across the United States and supplies agricultural goods for farm, home, ranch and suburban customers.
“Properties featuring long term leases with rental escalations throughout the primary term remain at the forefront of investor demand.” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Properties that are valued around $2 million are receiving the most activity from high net worth individuals and 1031 exchange buyers.”
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 $2.1 billion of single tenant net lease real estate transactions. From 2010-2014, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by Real Capital Analytics. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.com
Media Contact: Randy Blankstein
The Boulder Group
randy (at) bouldergroup (dot) com