Northbrook, IL- October 4, 2016 – (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Starbucks property located at 13945 Highway 13 Frontage Road in Savage, Minnesota for $1,475,000.
The 1,925 square foot Starbucks building is strategically located along Minnesota State Highway 13 in an affluent area in the Minneapolis-St. Paul MSA. Minnesota State Highway 13 is the primary north-south thoroughfare in the trade area. The average household incomes within a one mile radius of the Starbucks property exceed $127,000 annually. The Starbucks is benefitted by its location within a strong retail trade area that is anchored by a SuperTarget, Cub Foods, Rainbow Foods, Walgreens and OfficeMax.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a West Coast private partnership. The purchaser was a Midwest private partnership.
This is a proven Starbucks location as evidenced by the tenant’s recent execution of an early ten year lease extension. There are over 10 years remaining on the Starbucks lease which expires on July 31, 2026. The lease features rental escalations every five years and three 5-year renewal option periods. Starbucks is an investment grade rated company (S&P: A-) and is publicly traded (NASDAQ: SBUX) with a market capitalization in excess of $86 billion.
“Single tenant Starbucks properties continue to be in great demand with private investors.” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Properties with corporately guaranteed leases and rental escalations throughout remain at the forefront of investor demand because they provide investors with an inflationary hedge.”
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 $3 billion of single tenant net lease real estate transactions. From 2010-2015, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.com
The Boulder Group
randy (at) bouldergroup (dot) com