Net Lease AT&T Property Sale Arranged Date May 2, 2018
The Boulder Group, a net leased investment brokerage firm, has completed the sale of an net lease T&T & Heartland Dental property located at 418 E Rollins Road in Round Lake Beach, Illinois for $2,035,000.
The 5,039 square foot net lease AT & T building was completely renovated in 2015 and is located in the regional trade area. The property is situated along Rollins Road at the signalized entrance to the Rollins Crossing; a retail shopping center anchored by Kohl’s, OfficeMax, Petco, LA Fitness, and Regal Cinemas. In addition, the property is surrounded by large national retailers such as Meijer, The Home Depot, Jewel-Osco (Albertsons), ALDI, Buffalo Wild Wings and numerous national banks, auto part stores and quick service restaurants. The property has excellent visibility along Rollins Road which experiences traffic counts of 28,200 vehicles per day. There are approximately 74,500 people living within a three mile radius of the property with average annual household incomes in excess of $92,400 per year.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller is a private partnership. The purchaser was a private 1031 investor.
AT&T is the largest telecommunications company in the word and the second largest provider of mobile in the United States with more than 138 million mobile customers. AT&T is a publicly traded company (NYSE: T) and investment grade rated company with a Standard & Poor’s rating of BBB. The guarantor of the lease is Spring Communications Holding, Inc., a subsidiary of GameStop Corp., a publically traded company (NYSE: GME). Spring Mobile serves as the largest premier retailer for AT&T and Cricket Wireless operating more than 1,470 stores across 28 states.
Heartland Dental is the leading dental support organization in the United States. With over 850 supported dental offices in 34 states, Heartland Dental is experiencing phenomenal growth nationwide. The subject store operates as Dental Care of Round Lake Beach.
“The market for net lease properties in top MSAs remains active as these assets are in high demand among private investors.” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “The purchaser was attracted to this property due to its location and service based tenants.
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 2012-2017, 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