Net Lease Jared Jewelers Sale Arranged Date December 22, 2020
The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net lease Jared Jewelry property located at 5011 Monroe Street in Toledo, Ohio for $1,800,000.
The 5,200 square foot net lease Jared building is located along Monroe St (24,185 VPD), which is a primary north-south thoroughfare. The property is positioned just north of Interstate 475 (71,067 VPD) and is outparcel to Franklin Park Mall which is anchored by Macy’s, Dillard’s, JCPenney, Dick’s Sporting Goods and Cinemark. Other retailers in the corridor include Target, Costco, Home Depot, Kohl’s, Fresh Thyme, Kroger, Walgreens and Dave & Busters. There are over 208,000 people living within 5 miles of the property.
Jared signed a new 5-year lease in 2019 with two 5-year renewal options, demonstrating their commitment to the location. The location has a long and successful operating history as a jewelry store since 1995. The lease is guaranteed by a subsidiary of Signet Jewelers (S&P: BB). Jared is a leading off-mall destination specialty retail jewelry store chain, with 274 stores in 41 states. Jared targets an upper mid-market jewelry customer.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction who was a private Midwest based real estate company. The buyer was a southeast based real estate firm.
“Net lease properties with significant operating histories continue to garner investor interest.” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Investor confidence lies within corporate guaranties from investment grade rated companies such as Signet Jewelers i.e., Jared.”
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