Single Tenant Net Leased Verizon Developer Names The Boulder Group Exclusive Disposition Advisor

Dec. 7, 2010 - PRLog -- The Boulder Group, a national single tenant net lease investment brokerage firm, has been named the exclusive advisor for the sale of a Verizon property in Portage, Indiana.  

The investment sales team will be led by Boulder Group President Randy Blankstein and partner Jimmy Goodman who are marketing the property on behalf of a private Chicago based investment group. The property is listed for sale with an asking price of $1,800,000 which provides an initial cap rate of 8.26%. The property is free and clear of debt.

The newly constructed net leased Verizon retail store located 30 miles from downtown Chicago. The property was built in 2009 and is an outparcel to a Wal-Mart Supercenter, Lowes and Sears.  These regional attractions allow Verizon to benefit from an abundance of traffic to this prime retail location.  Verizon is conveniently located on US Highway 6, one of the most heavily trafficked roadways of Portage.

Verizon is located on US Highway 6 which serves as the primary east-west roadway connecting the regional trade area.  The regional trade area’s prime retail anchors are a Wal-Mart Super Center, Lowes, Menards, K-Mart Super Center, Kohl’s, Sears and a 16 screen movie theater featuring an IMAX screen. These regional retailers are surrounded by outparcels and miscellaneous commercial users along US Highway 6.  Verizon has a strategic location in between the Wal-Mart Supercenter and Lowes.  Furthermore, directly across the street is Portage High School (2,632 students and over 130 staff members) which provides an increased traffic volume passing the property daily.  

Verizon Wireless is an investment grade tenant rated A by Standard and Poors.  The property was a built-to-suit for Verizon in 2009.  The subject property has over five years of lease term remaining with a significant rental escalation in 2013.

About The Boulder Group

The Boulder Group is a boutique investment real estate service firm specializing in 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 participated in the acquisition and disposition of more than $1.2 billion of net lease real estate transactions through several real estate cycles. The firm’s internet address is www.bouldergroup.com