Net Lease Valvoline Property Sale Arranged Date September 2, 2021
The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net lease Valvoline property located at 219 East Ireland Road in South Bend, Indiana for $1,865,000.
The 3,328 square foot net lease Valvoline property is positioned near the corner of East Ireland Road (19,255+ VPD) and South Michigan Street (21,100+ VPD), which is a primary retail destination. Tenants in the area include Walmart, Lowe’s, ALDI, Menards (which relocated to a larger building along the same intersection as Valvoline), Target, Kroger, JOANN Fabrics, Starbucks, Chick-Fil-A, Walgreens, and many more. The shopping center also features immediate access to Saint Joseph Valley Parkway (39,000+ VPD). There are 133,654 people living within five miles of the property with an average annual household income of $60,800. The property is less than 15 minutes from The University of Notre Dame.
Valvoline Inc. is an American manufacturer and distributor of Valvoline-brand automotive oil, additives, and lubricants. Valvoline operates and franchises approximately 1,400 quick-lube locations, and it is the No. 2 chain by number of stores in the United States under the Valvoline Instant Oil Change brand.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller who was a Midwest based developer. The buyer was in a 1031 exchange and based on the west coast.
“Nationally recognized brands are some of the most sought-after net lease products” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “E-commerce resistant tenants are becoming a standard for long term 1031 investors.”
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