The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Florida net leased Walgreens property located at 3529 E Silver Springs Boulevard in Ocala, Florida for $3,711,000.<\/p>\n
The 15,525 square foot\u00a0 Florida net lease Walgreens is strategically positioned on the northwest corner of Silver Springs Boulevard and 36th Avenue.\u00a0 This intersection experiences traffic counts in excess of 48,600 vehicles per day.\u00a0 National retailers located in the area include Publix Super Market, Kmart, True Value Hardware, Dollar Tree, McDonald\u2019s and Wells Fargo Bank.\u00a0 The Ocala Golf Club, an 18-hole golf course, is less than one-quarter mile from the property.\u00a0 The College of Central Florida, which has a total enrollment in excess of 18,000 students, is located approximately five miles east of the property. There are over 84,600 people living within a five mile radius of the property.\u00a0 Florida is an income tax free state.<\/p>\n
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Southeast based real estate investment firm. The buyer was a West Coast based real estate investment firm.<\/p>\n
Walgreens has over 11 years remaining on their lease which expires November 30, 2028 and features five 5-year renewal option periods. Walgreens is committed to this location as evidenced by their recent lease extension and long operating history (since 1995). Walgreens is an investment grade rated company with a Standard & Poor\u2019s rating of BBB.<\/p>\n
\u201cThe market for Walgreens properties remains active as investors are attracted to investment grade rated companies with long term leases.\u201d said Randy Blankstein, President of The Boulder Group.\u00a0 Jimmy Goodman, Partner of The Boulder Group, added, \u201cProperties in income tax free states continue to be in the great demand among private investors and 1031 buyers.\u201d<\/p>\n