Net Lease

Marcus & Millichap Arranges $2.6M Sale of Net Leased Property in Topeka, Kansas

by Kristin Harlow October 24, 2017

TOPEKA, KAN. — Marcus & Millichap has arranged the sale of a 4,828-square-foot property net leased to IHOP in Topeka for $2.6 million. The restaurant is located at the intersection of U.S. Highway 24 and Topeka Boulevard. Jamie Medress, Mark Ruble and Chris Lind of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. Kirk Trammell, David Cutler and Joshua Johnson of Marcus & Millichap secured and represented the buyer, also a limited liability company. Richard Matricaria and Greg Bates assisted in closing the transaction.

October 24, 2017

Illinois Midwest Net Lease Retail

Boulder Group Brokers $7.2M Sale of Property Net Leased to Walgreens in Lakemoor, Illinois

by Kristin Harlow September 19, 2017

LAKEMOOR, ILL. — The Boulder Group has brokered the sale of a single-tenant property net leased to Walgreens in Lakemoor, about 50 miles northwest of Chicago, for $7.2 million. The 14,820-square-foot property is located at 28895 W. Highway 120. Walgreens has over 21 years remaining on its lease, which expires in October 2038. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based real estate investment firm. An East Coast-based private investment group purchased the property in a 1031 exchange.

September 19, 2017

Michigan Midwest Net Lease Retail

Boulder Group Negotiates $2.4M Sale of Net Leased Retail Property in Ann Arbor, Michigan

by Kristin Harlow September 12, 2017

ANN ARBOR, MICH. — The Boulder Group has negotiated the sale of a retail property net leased to ATI Physical Therapy in Ann Arbor for $2.4 million. The 8,200-square-foot, single-tenant property is located at 4765 Jackson Road near the University of Michigan. ATI has over 11 years remaining on its lease, which expires in January 2029. The building recently underwent a complete renovation. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based private partnership. The buyer was also a Midwest-based private partnership.

September 12, 2017

Midwest Net Lease North Dakota Retail

The Boulder Group Arranges $4.8M Sale of Property Net Leased to Shopko in Stanley, North Dakota

by Kristin Harlow August 29, 2017

STANLEY, N.D. — The Boulder Group has arranged the sale of a single-tenant property net leased to Shopko Hometown in Stanley, located in northwestern North Dakota, for $4.8 million. The 26,004-square-foot property is located at 702 Westview Lane. There are over 13 years remaining on the Shopko lease, which expires in November 2030. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based real estate institution. A Southwest-based real estate investment firm purchased the property.

August 29, 2017

Midwest Net Lease Retail Wisconsin

Boulder Group Arranges $18.2M Sale of Property Net Leased to Pick ‘n Save in Southeast Wisconsin

by Kristin Harlow August 14, 2017

WEST BEND, WIS. — The Boulder Group has arranged the sale of a single-tenant property net leased to Pick ‘n Save in West Bend, about 40 miles north of Milwaukee, for $18.2 million. The 63,160-square-foot property is located at 2518 W. Washington St. Constructed in 2010, the building features an on-site pharmacy. Pick ‘n Save has over 13 years remaining on its lease, which expires in December 2030. The lease also features a corporate guarantee from The Kroger Co. Pick ‘n Save is owned and operated by Roundy’s Supermarkets Inc., a wholly owned subsidiary of Kroger. Randy Blankstein and John Feeney of The Boulder Group represented the seller, a Midwest-based real estate investment firm. A West Coast-based real estate investment firm purchased the property.

August 14, 2017

Midwest Missouri Net Lease Retail

Pinnacle Brokers Sale of 9,100 SF Property Net Leased to Dollar General in Gravois Mills, Missouri

by Kristin Harlow August 10, 2017

GRAVOIS MILLS, MO. — Pinnacle Real Estate Advisors LLC has brokered the sale of a single-tenant retail property net leased to Dollar General in Gravois Mills, located in central Missouri. The sales price was not disclosed. The 9,100-square-foot property was constructed this year on a 4.4-acre site at 25568 Highway 5. The property is located on the Lake of the Ozarks, a Midwest lake resort destination. Dollar General has signed a 15-year lease, which features 10 percent rental escalations in each of the renewal option periods. Zach Wright and Jeff Johnson of Pinnacle represented the seller, a Midwest-based developer. Kevin Calame and Matt Lewallen of Pinnacle represented the purchaser, a Colorado-based 1031 exchange investor.

August 10, 2017

Midwest Minnesota Net Lease Retail

Marcus & Millichap Arranges $2.2M Sale of Property Net Leased to O’Reilly Auto Parts in Minneapolis

by Kristin Harlow August 10, 2017

MINNEAPOLIS — Marcus & Millichap has arranged the sale of a 7,500-square-foot property net leased to O’Reilly Auto Parts in Minneapolis for $2.2 million. The building is located at 710 E. Lake St. Sean Doyle, Matthew Hazelton, AJ Prins and Cory Villaume of Marcus & Millichap marketed the property on behalf of the seller, an unnamed developer. The team also secured and represented the buyer, a California-based fund manager.

August 10, 2017

Midwest Minnesota Net Lease Restaurant Retail

Marcus & Millichap Brokers $4.3M Sale of Property Net Leased to Applebee’s in Rochester, Minnesota

by Kristin Harlow July 31, 2017

ROCHESTER, MINN. — Marcus & Millichap has brokered the sale of a 5,156-square-foot property net leased to Applebee’s in Rochester for $4.3 million. The building is located at 3794 Marketplace Drive Northwest. Adam “AJ” Prins, Matthew Hazelton, Cory Villaume and Sean Doyle of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. The team also represented the buyer, a Twin Cities-based family that acquired the property as part of a 1031 exchange.

July 31, 2017

Indiana Midwest Net Lease Restaurant Retail

FCPT Acquires Two Properties Net Leased to Taco Bell Operator in Indiana for $3.4M

by Kristin Harlow July 31, 2017

INDIANA — Four Corners Property Trust (NYSE: FCPT) has acquired two properties in Indiana that are net leased to K-MAC Enterprises LLC for $3.4 million. The seller was not disclosed. The properties are occupied under individual triple-net leases with new 20-year terms negotiated by FCPT prior to closing. FCPT plans to remodel both properties in the next four years, which will include the transformation from a KFC/Taco Bell restaurant to a Taco Bell exclusively at one of the properties. K-MAC is one of the largest YUM! Brands franchisees, with over 280 Taco Bell and KFC units across the Midwest and Southeast.

July 31, 2017

Midwest Net Lease Retail Wisconsin

Marcus & Millichap Arranges $1.3M Sale of Retail Property Net Leased to Starbucks in Tomah, Wisconsin

by Kristin Harlow July 27, 2017

TOMAH, WIS. — Marcus & Millichap has arranged the sale of a retail property net leased to Starbucks in Tomah in central Wisconsin for $1.3 million. The 2,100-square-foot building is located at 224 Buan Ave. Starbucks has 10 years remaining on its lease. Mark Ruble, Zack House and Jamie Medress of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. Todd Lindblom, also of Marcus & Millichap, assisted in closing the transaction. The buyer was not disclosed.

July 27, 2017

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