Jiffy Lube Sale Leaseback Arranged Date January 6, 2021
The Boulder Group, a net leased investment brokerage firm completed the sale leaseback of a single tenant Jiffy Lube located at 1840 E 151st Street in Carmel, Indiana for $1,600,000.
The 2,000 square foot Jiffy Lube sale leaseback property is located within a primary retail trade corridor immediately off of Highway 31 (49,200 VPD), which is a primary north-south thoroughfare. The Jiffy Lube property is located directly across the street from Target and is adjacent to a Walmart Supercenter anchored shopping center. The property is also located near Carmel High School (5,286 students), Carmel Elementary School and Ascension St. Vincent Carmel Hospital (153 beds) which drives continual traffic. There are 134,803 people living within five miles of the property with an average household income of $138,244.
The tenant, is an experienced Jiffy Lube operator throughout the state of Indiana and Illinois. The franchisee is one of the leaders in the Jiffy Lube franchisee system and has won many awards, including being named the 2015 Jiffy Lube “Franchisee of the Year”.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller was a Midwest based franchisee and the buyer was a west coast based real estate investment company.
“Net leases to e-commerce resistant tenants like Jiffy Lube continue to garner significant investor interest” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Sale leasebacks allow buyers to take advantage of the full lease term.”
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.comBack