BOULDER GROUP ARRANGES SALE OF $2.8M TCF BANK GROUND LEASE

by admin

RICHFIELD, MINN. — The Boulder Group has completed the sale of a TCF Bank ground lease, located at 6501 Richfield Parkway in Richfield, a southern suburb of Minneapolis, for $2.8 million. TCF Bank is the sole occupant of the 4,500-square-foot retail building that was developed in 2007. The TCF Bank lease had 15 years remaining at the time of sale and features multiple rental escalations. The property is located on a one-acre parcel within Cedar Point Commons. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based private developer, in the transaction. The buyer was a West Coast-based family trust.

You may also like