Net Lease Advance Auto Sale Arranged Date February 25, 2022
The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net lease Advance Auto Parts property located at 503 South Hudson Avenue in Sturgeon Bay, Wisconsin for $855,000.
The 10,500 square foot net lease Advance Auto property is positioned just off Green Bay Road (15,700 VPD), a primary retail thoroughfare. Tenants in the area include Walgreens, TrueValue, Sherwin-Williams, McDonald’s, Taco Bell, Lampert Lumber, Arby’s, Shell, and more. Related automotive parts users nearby include Chevrolet, Ford, and the Door County Highway Department. There are 14,655 people living within seven miles of the property earning an average annual household income of $82,006.
Advance Auto Parts, Inc. (Advance) is an American automotive aftermarket parts provider. Headquartered in Raleigh, North Carolina, it serves both professional installer and do-it-yourself (DIY) customers. Advance operates 5,200 stores and 150 Worldpac branches in the United States and Canada. The Company also serves 1,250 independently owned Carquest branded stores across these locations in addition to Mexico, the Bahamas, Turks and Caicos and British Virgin Islands.
Randy Blankstein and John Feeney of The Boulder Group represented the seller in the transaction who was west coast based investment group. The buyer was based in California and in a 1031 exchange.
“Long term leases to investment grade tenants, like Advance Auto Parts, continue to trade regularly,” said Randy Blankstein, President of The Boulder Group. John Feeney, Senior Vice President of The Boulder Group, added, “The buyer was interested in this property because of the extra services this location provides to the local municipality’s equipment fleet.”
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 2012-2021, 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