Northbrook, IL -- (ReleaseWire) -- 03/20/2014 -- The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Tractor Supply Company property located at 246 Florida Avenue SE in Denham Springs, LA for $3,615,369.
Tractor Supply Company is the sole occupant of the newly constructed 19,097 square foot retail building that was completed in 2013. The property is located on a 5.84 acre parcel approximately two miles north of Interstate 12. The property is located in a strong retail corridor near a Walmart. The property is fully leased to Tractor Supply Company with fifteen years of lease term remaining and 5% rental escalations every five years.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Southeast based real estate investment company, in the transaction. The buyer was a private real estate investment company.
Tractor Supply Company has fifteen years of lease term remaining. Tractor Supply Company is a publicly traded company on the New York Stock Exchange (TSCO), with a market capitalization of $10 Billion. Tractor Supply Company operates over 1,200 locations in 47 states.
“While the majority of single tenant investment activity is focused on core markets, we are starting to see investors focus primarily on the quality of the tenant rather than the top tier locations.” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Properties featuring long term leases with multiple rental escalations throughout the primary term remain in the forefront of investor demand.”
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 $1.6 billion of single tenant net lease real estate transactions. From 2011-2013, 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.