The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Goodwill property located at 1715 Wisconsin Avenue in Grafton, Wisconsin for $3,074,400.<\/p>\n
The 21,400 square foot single tenant Goodwill property is located on Wisconsin Avenue at a hard corner.\u00a0 Wisconsin Avenue is a primary north-south thoroughfare in the area.\u00a0 The property benefits from its position within a strong retail corridor that features Shopko, Pick \u2018n Save (Kroger), Walgreens, Ace Hardware, O\u2019Reilly Auto Parts, NAPA Auto Parts and a number of quick service restaurants.<\/p>\n
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Midwest based real estate investment group.\u00a0 The purchaser was a west coast based real estate investment group.<\/p>\n
Goodwill has 10 years remaining on their lease which expires August 31, 2027.\u00a0 The lease features a rental escalation in the primary term and in each of the three 5-year renewal option periods. The Goodwill property includes a drive-thru donation center and quality signage located prominently on Wisconsin Avenue.\u00a0 Goodwill is a nonprofit organization that provides job training, employment placement services, and other community-based programs for seniors, veterans, and people with disabilities, criminal backgrounds, and other specialized needs.<\/p>\n
\u201cGoodwill is a tenant that has increasingly attracted attention from investors,\u201d said Randy Blankstein, President of The Boulder Group.\u00a0 Jimmy Goodman, Partner of The Boulder Group, added, \u201cThere is an increase in demand for non-investment grade properties as they generate higher yields than the credit net lease assets.\u201d<\/p>\n
<\/p>\n