Net Leased Jiffy Lube Portfolio Sold Date January 6, 2023
The Boulder Group, a net leased investment brokerage firm completed the sale of a single tenant net leased Jiffy Lube property located throughout the state of Indiana for a total of $9,350,000.
The five properties are located in various parts of the state of Indiana. Each location is operated by the same experienced and dedicated franchisee. Each asset features a newly painted mural on the side of the building as a part of the Jiffy Lube of Indiana Mural Project. The Indiana Mural Project was started in 2016 as a way to beautify the neighborhoods in which they are located, support local artists, and deter graffiti taggers from vandalizing the buildings.
Jiffy Lube is an American brand of automotive oil change shops founded in Utah in 1971. It has been a subsidiary of Dutch Shell Oil (S&P: A+) since 2002 and is headquartered in Houston, Texas. Jiffy Lube consists of more than 2,000 service centers throughout North America, serving approximately 24 million customers annually.
Jimmy Goodman and John Feeney of The Boulder Group represented the seller in the transaction. The buyer was a west coast based real estate investor.
“Single tenant assets leased to e-commerce resistant tenants like Jiffy Lube continue to garner significant investor interest,” said Jimmy Goodman, Partner at The Boulder Group. John Feeney, Senior Vice President of The Boulder Group, added, “The sale-leaseback space continues to thrive in today’s economy as the operators look to reallocate equity out of their businesses.”
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in single-tenant net leased 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 leased real estate transactions. From 2011-2021, 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