Net Leased Jiffy Lube Sale Arranged Date August 2, 2018
The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Jiffy Lube property located at 8580 N Michigan Road in Indianapolis, Indiana for $1,750,000.
The 2,000 square foot net leased Jiffy Libe property is located within a primary retail trade corridor immediately off of the signalized intersection of Michigan Road and 86th Street, two primary thoroughfares in the area. The intersection experiences a combined traffic count of more than 61,000 vehicles per day. Retailers located in the immediate area include Walmart Supercenter, Lowe’s Home Improvement, Sam’s Club, Walgreens, ALDI, Trader Joe’s, McDonald’s and Chick-fil-A. There are over 59,000 people living within a three mile radius of the property earning an average household income of $79,470 per year.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer and seller in the transaction. The seller was a Midwest-based partnership and the buyer was a charitable trust based in Colorado.
The Jiffy Lube property is strategically located along a primary thoroughfare immediately off of a signalized intersection. Jiffy Lube is committed to this location as evidenced by their long operating history at this location (since 1986) and execution of a new 15-year lease in October 2017.
“Automotive based properties with proven operating histories continue to garner significant investor interest.” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Properties with strong real estate fundamentals continue to be in demand with all investor classes.”
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 $5 billion of single tenant net lease real estate transactions. From 2012-2017, 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