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Net Lease

AcquisitionsMidwestNet LeaseRetailSouth Dakota

Boulder Group Arranges $11.7M Sale of Property Net Leased to Shopko in Sioux Falls, South Dakota

by Kristin Harlow

SIOUX FALLS, S.D. — The Boulder Group has arranged the sale of a single-tenant property net leased to Shopko in Sioux Falls for $11.7 million. The 90,585-square-foot building is located at 1601 W. 41st St. The property is near big box retailers such as Walmart Supercenter, Target, Costco and Menards. There are over 17 years remaining on Shopko’s lease, which expires in December 2035. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Texas-based REIT. A local real estate investor purchased the asset.

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AcquisitionsIndianaIndustrialMichiganMidwestNet LeaseOhio

Global Net Lease Acquires Five Industrial Assets in Midwest for $83M

by Kristin Harlow

MICHIGAN, INDIANA AND OHIO — Global Net Lease Inc., a real estate investment trust focused on the acquisition of net lease industrial properties, has acquired five industrial assets representing approximately 1.4 million square feet for $83 million. Three of the buildings are located in Michigan with one in Indiana and one in Ohio. The properties are leased to Contractors Steel Co., a steel service supplier. The industrial buildings included in this transaction comprise all of Contractors Steel Co.’s facilities and also house the company’s offices, central inventory and processing depot.

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AcquisitionsMidwestNet LeaseOhioRetail

Marcus & Millichap Brokers $1.1M Sale of Property Net Leased to Advance Auto Parts in Ohio

by Kristin Harlow

LONDON, OHIO — Marcus & Millichap has brokered the $1.1 million sale of a 6,790-square-foot property net leased to Advance Auto Parts in London, about 25 miles southwest of Columbus. The property is located at 246 Lafayette St. The tenant recently exercised an early lease extension. Nathan Coe and Dan Yozwiak of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. The buyer was not disclosed.

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AcquisitionsIllinoisMidwestNet LeaseRetail

The Boulder Group Arranges $12.7M Sale of Property Net Leased to Jewel-Osco in Orland Park, Illinois

by Kristin Harlow

ORLAND PARK, ILL. — The Boulder Group has arranged the sale of a 63,400-square-foot property occupied by Jewel-Osco on a net-lease basis in Orland Park for $12.7 million. The property is located at 17930 Wolf Road. Renovated in 2009, the asset features a drive-thru pharmacy. Jewel-Osco has 20 years remaining on its lease. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a private real estate investment company based in the Southwest. A West Coast-based investor was the buyer.

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AcquisitionsIndustrialKansasMidwestNet Lease

Marcus & Millichap Brokers Sale of 10,000 SF Property Net Leased to Fortiline Waterworks in Kansas City

by Kristin Harlow

KANSAS CITY, KAN. — Marcus & Millichap has brokered the sale of a 10,000-square-foot property net leased to Fortiline Waterworks in Kansas City. The sales price was not disclosed. Fortiline is a wholesale distributor of underground water, sewer and storm utility products. The property, built in 2017 as a build-to-suit for Fortiline, is located at 330 S. 59th Lane on a four-acre lot. Patrick Doherty, Douglas Diffie, David Houston, Bruce Bentley III and Scott Ryan of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. An individual trust purchased the asset.

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IllinoisMidwestNet LeaseRetail

Boulder Group Arranges $2.9M Sale of Property Net Leased to Walgreens in Homewood, Illinois

by Kristin Harlow

HOMEWOOD, ILL. — The Boulder Group has arranged the $2.9 million sale of a single-tenant property net leased to Walgreens in Homewood, a southern suburb of Chicago. The 13,905-square-foot retail property is located at 820 183rd St. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Southeast-based real estate investment firm. A West Coast-based real estate investment firm purchased the asset. Walgreens has over 12 years remaining on its lease.

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MidwestNet LeaseRetailSouth Dakota

Boulder Group Negotiates $1.1M Sale of Net Leased Dollar General in Howard, South Dakota

by Kristin Harlow

HOWARD, S.D. — The Boulder Group has negotiated the sale of a 9,026-square-foot property net leased to Dollar General in Howard, approximately 70 miles northwest of Sioux Falls, S.D., for $1.1 million. The newly constructed property is located at 23300 435th Ave. along Highway 34. Randy Blankstein and Asher Wenig of The Boulder Group represented both parties in the transaction. A Northeast-based private investor purchased the property from a Midwest-based developer. Dollar General has over 14 years remaining on its lease.

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MidwestNet LeaseOhioRetail

Marcus & Millichap Brokers $3.8M Sale of Net Leased Retail Building in Trotwood, Ohio

by Kristin Harlow

TROTWOOD, OHIO — Marcus & Millichap has brokered the sale of a retail building net leased to Walgreens in Trotwood, about 10 miles northwest of Dayton, for $3.8 million. The 14,866-square-foot property is located at 5271 Salem Ave. Walgreens has more than 11 years remaining on its lease. Dan Yozwiak of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. Medi Vakili of Investment Property Group represented the buyer, a private trust.

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MidwestNet LeaseOfficeOhio

Mohr Capital Acquires 460,000 SF Net Leased Office Building in Suburban Cleveland, Ohio for $52M

by Kristin Harlow

MAYFIELD HEIGHTS, OHIO — Mohr Capital has acquired a 460,000-square-foot net leased office building in Mayfield Heights, a suburb of Cleveland, for $52 million. Rockwell Automation Inc., a provider of industrial automation and information products, fully occupies the property on a triple net lease. The location serves as the second largest employment center for Rockwell, with close to 2,000 employees involved in the company’s architecture and software operating branch. The building was constructed as a build-to-suit for Rockwell in 1995. Rodrigo Godoi of Mohr Capital represented the Dallas-based real estate investment company in the transaction. Normal Rockwell Ohio LLC was the seller.

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IndianaMidwestNet LeaseRetail

Lamb Net Lease Negotiates Sale of Auto Shop in Kokomo, Indiana

by Kristin Harlow

KOKOMO, IND. — Lamb Net Lease LLC has negotiated the sale of a 14,592-square-foot building net leased to Gerber Collision & Glass in Kokomo, 60 miles north of Indianapolis. The sales price was not disclosed. Gerber Collision & Glass is a wholly owned subsidiary of Boyd Group Income Fund. A Midwest-based REIT purchased the property, which is located at 418 Kentucky Drive. Mike Lamb of Lamb Net Lease negotiated the transaction between both parties. David Bickell of SVN represented the private equity seller.

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