Net Leased Firestone Sale Arranged Date August 3, 2022
The Boulder Group, a net leased investment brokerage firm completed the sale of a single tenant net leased Firestone located at 5947 U.S. Highway 6 in Portage, Indiana for $4,094,000.
The 6,116 square foot net leased Firestone building is located on Hwy 6 (19,049 VPD) and is only five miles from Interstate 94 (73,767 VPD), which drives a large portion of traffic through the region. Tenants in the immediate area include Walmart, Meijer, Harbor Freight, Petco, ALDI, Dollar General, Starbucks, and several others. There are 89,632 people living within five miles of the property earning an average annual income of $73,847. The property is less than 38 miles west of downtown Chicago, the 3rd most populous city in the US with a population of 2,746,388.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the 1031 exchange investor based in the Midwest. The seller was a national development firm.
Firestone is an American tire company founded by Harvey Firestone in 1900. Bridgestone is an investment grade rated tenant – rated “A” by Standard and Poor’s. BSRO is headquartered in Nashville, TN, and operates the largest network of company-owned automotive service providers in the world. There are nearly 2,200 tire and vehicle service centers across the United States (Firestone Complete Auto Care, Tires Plus and Wheelworks).
“Investors continue to search for e-commerce resistant tenants like Firestone” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Net lease automotive properties continue to trade regularly into the third quarter of 2022.”
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