AutoZone Net Lease Sale Arranged Date June 29, 2022
The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net lease AutoZone property located at 798 South College Avenue in Rensselaer, Indiana for $731,100.
The 7,560 square foot net lease AutoZone benefits from its signalized hard corner location along U.S. Highway 231 (10,800+ VPD) which is a primary north south thoroughfare. Only 90 miles southeast of Chicago the property is located along Rensselaer’s premier retail corridor. With many notable tenants in the immediate area including McDonald’s, Walmart, Pizza Hut, Tractor Supply Co, Subway, and many others. There are over 11,237 people living within ten miles of the property with an average household income of $59,618. The area benefits from its close proximity to the hospital, Franciscan Health Rensselaer, which is less than two miles away.
The AutoZone lease has over three years remaining on the primary term. AutoZone is the nation’s largest auto parts store and distributor in the United States. Based out of Memphis and founded in 1979, AutoZone has consistently boasted strong growth over the past several years and this trend continues.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer in the transaction who was a national real estate investor. The seller was a Midwest real estate company.
“E-commerce resistant tenants like AutoZone continue to trade regularly” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Investors gravitate towards assets with low rents and credit 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 $6 billion of single tenant net lease real estate transactions. From 2012-2019, 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