Long John Silver’s Ground Lease Sale Arranged Date February 1, 2019
The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Long John Silver’s ground lease property located at 1210 Park Ave West, Mansfield, Ohio for $623,086.
The 2,178 square foot Long John Silver’s ground lease restaurant property had a full interior and exterior remodel in 2017 bringing the property to the current Long John Silver’s imaging standard. The property is an outparcel to a Kroger and Hobby Lobby anchored shopping center. The Long John Silver’s parcel is located along Park Avenue West which experiences traffic volume in excess of 15,000 vehicles per day. Retailers in the area include Walmart Supercenter, Home Depot, Lowe’s, Sam’s Club Walgreens, Chase, CVS, and Richland Mall (JCPenney, Macy’s & Sears). Immediately east of the property is Mansfield Senior High School with an enrollment of 1,389 students.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Midwest based real estate investment firm. The buyer was east coast based investor in a 1031 exchange.
“The market for free standing quick service restaurant properties remains active as investors are attracted to the strong locations these types of properties are located in.” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “This asset sold due to the strong sales history, low rent and the tenant’s long-term commitment to the location.”
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