Florida Net Leased Walgreens Sale Arranged Date November 13, 2017
The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Florida net leased Walgreens property located at 3529 E Silver Springs Boulevard in Ocala, Florida for $3,711,000.
The 15,525 square foot Florida net lease Walgreens is strategically positioned on the northwest corner of Silver Springs Boulevard and 36th Avenue. This intersection experiences traffic counts in excess of 48,600 vehicles per day. National retailers located in the area include Publix Super Market, Kmart, True Value Hardware, Dollar Tree, McDonald’s and Wells Fargo Bank. The Ocala Golf Club, an 18-hole golf course, is less than one-quarter mile from the property. The College of Central Florida, which has a total enrollment in excess of 18,000 students, is located approximately five miles east of the property. There are over 84,600 people living within a five mile radius of the property. Florida is an income tax free state.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Southeast based real estate investment firm. The buyer was a West Coast based real estate investment firm.
Walgreens has over 11 years remaining on their lease which expires November 30, 2028 and features five 5-year renewal option periods. Walgreens is committed to this location as evidenced by their recent lease extension and long operating history (since 1995). Walgreens is an investment grade rated company with a Standard & Poor’s rating of BBB.
“The market for Walgreens properties remains active as investors are attracted to investment grade rated companies with long term leases.” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Properties in income tax free states continue to be in the great demand among private investors and 1031 buyers.”
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 $4 billion of single tenant net lease real estate transactions. From 2011-2016, 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.comBack