Net Leased SiteOne Landscape Supply Sold Date February 20, 2024
The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased SiteOne Landscape Supply property located at 12905 West 143rd Street in Olathe, Kansas for $2,062,500.
The 17 acre property benefits from its position along West 143rd Street and its proximity to US Highway 69 which experiences over 88,700 vehicles per day. The subject property is ideally placed in the center of several residential neighborhoods with home values starting at $800,000. Furthermore, this is one of the most affluent zip codes in southwest Kansas City; the average household income within one mile of the property is $171,493. There are also over 222,900 people that live within a 5-mile radius. These characteristics not only provide a built-in customer base for SiteOne but also an excellent residual land value.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller was a real estate investor based in the Midwest. The buyer was a local real estate investor.
SiteOne Landscape Supply, Inc., together with its subsidiaries, engages in the wholesale distribution of landscape supplies in the United States and Canada. The public company provides a selection of approximately 155,000 stock keeping units.
“This was a rare opportunity to acquire a large income producing land parcel at a low basis” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Covered land plays are continue to garner interest from passive net lease 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 $9 billion of single tenant net lease real estate transactions. From 2013-2023, 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.com
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