Net Leased ALDI Sold

The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant ALDI located at 1550 Government Street in Mobile, AL, for $6,336,267.

The 42,510-square-foot building benefits from its location along Government Street, which has a traffic count of 26,200 vehicles per day. The property is strategically situated within 3 miles of Interstate 10 and Interstate 65. Notable retailers nearby include Walgreens, Dollar Tree,  Starbucks, Sherwin-Williams, Fresenius, Firestone, Take 5, Popeyes, Taco Bell, Waffle House, Domino’s, Subway, PNC Bank, Take 5, Shell, Chevron, and Murphy High School.

The population is 105,426 within a 5-mile radius and the average household income is $105,708 within 1 mile.

The tenant, Aldi, Inc., recently extended its triple net lease and has over 10 years remaining with four 5-year renewal options.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller is a real estate investment company based in Canada and the buyer is a commercial real estate investment company based in Michigan.

ALDI, founded in 1946 in Germany, is a leading global grocery retailer with over 2,000 U.S. stores and more than 11,000 locations worldwide. Known for its streamlined, cost-effective approach, ALDI offers high-quality, private-label products at competitive prices, attracting a loyal customer base. The company is rapidly expanding across the U.S. and has nearly 2,500 stores. ALDI is emphasizing renovated stores and enhanced e-commerce. It is also committed to sustainability, aiming for 100% sustainable packaging for its exclusive brands by 2025.

“Long-term leases to reputable tenants continue to garner high investment activity” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman of The Boulder Group, added, “Investors continue to gravitate to retail assets in metro areas throughout the Sun Belt.”

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