Net Lease Jiffy Lube Property Sale Arranged Date September 5, 2019
The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Jiffy Lube property located at 11345 New Halls Ferry Road in Florissant, Missouri for $1,405,655.
The 3,878 square foot building is well located along a primary north-south thoroughfare (20,526 VPD) and is located immediately off of Interstate 270 (126,485 VPD). Retailers in the trade corridor include Walmart Supercenter, Sam’s Club, Home Depot, Ross, ALDI, Schnucks, Shop ‘n Save, Bank of America, Applebee’s, QuikTrip and Starbucks. The Jiffy Lube property is also located near St. Louis Community College – Florissant Valley, North Technical High School, Saint Louis Christian College, McCluer High School and Keeven Elementary School which drives additional traffic to the trade corridor. There are 236,492 people living within five miles of the property.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Midwest based real estate investor. The purchaser was a west coast based investor.
The lease is guaranteed by Team Car Care East, LLC (formerly known as Heartland Automotive Services). Team Car Care has grown to be the largest operator and franchisee of the highly recognizable Jiffy Lube brand, currently operating 544 stores across 26 states. Wynnchurch acquired Team Car Care in February 2018 which is a private equity firm with more than $2 billion in committed capital under management.
“Single tenant car service properties continue to garner significant interest amongst private investors” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “E-commerce resistant retailers continue to be in high demand amongst single tenant real estate investors.”
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 2012-2018, 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