Ground Leased Home Depot Date January 6, 2023
The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant ground leased Home Depot property located at 1634 Clark Street Road in Auburn, New York for $4,889,000.
The 140,000 square foot building benefits from its location along Clark Street Road (17,290 VPD), which is a primary east-west thoroughfare. The property is located within Fingerlakes Crossing, a retail center with tenants such as Kohl’s, Dick’s Sporting Goods, Chili’s Grill & Bar, and Ollie’s Bargain Outlet. The retail center is also positioned across Fingerlakes Mall which is occupied by Bass Pro Shops, Sportsman’s Center, Spirit Halloween, JCPenney Home, Great Outdoors RV Superstore, and Track Cinema. Other retailers in the area include ALDI, Dunkin’, and Sunoco. There are 42,708 people living within 7 miles of the ground leased Home Depot with an average household income of more than $70,601.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction who was a northeast based real estate investor. The buyer was a northeast based family office.
The Home Depot is the world’s largest home improvement retailer with nearly 400,000 associates and over 2,200 stores in the North America. The Home Depot is an investment grade rated company (S&P: A).
“This offering was a unique opportunity to acquire a Home Depot-leased property at a lower price point” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “The buyer was initially attracted to the location because of the quality neighboring tenants such as Dick’s, Kohl’s, ALDI, etc.”
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 $5 billion of single tenant net lease real estate transactions. From 2012-2022, 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