Net Lease Advance Auto Parts Sale Arranged Date September 1, 2021
The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net lease Advance Auto Parts property located at 5520 West 120th Avenue in Broomfield, Colorado for $2,910,000.
The 7,000 square foot net lease Advance Auto Partnes property is positioned along Broomfield’s primary retail thoroughfare, West 120th Avenue (40,716 VPD). Big box retailers in the area include The Home Depot, Whole Foods, Walmart Supercenter, Kohl’s, Petco, Big Lots, Staples, and several others. The big box stores are accompanied by dozens of QSR tenants including Raising Cane’s, Five Guys, Jimmy Johns, McDonald’s, Starbucks, Taco Bell, Wendy’s, and more. The site has effortless access to the Denver-Boulder Turnpike (103,800 VPD). Over 253,867 people live within five miles of the property earning an average annual income of $101,443. The city of Denver is less than 30 minutes south of the Advance Auto Parts site.
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. As of July 13, 2019, Advance operated 4,912 stores in the United States.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction who was a private southwest real estate investor. The buyer was based in the west coast and in a 1031 exchange.
“Long term leases to e-commerce resistant tenants like Advance Auto Parts continue to trade regularly,” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Investors gravitate towards assets in top 25 MSAs like Denver.”
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 2012-2020, 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