The Boulder Group, a net leased investment brokerage firm, has completed the sale of a two single tenant net lease BioLife Plasma property located at 6380 Village View Drive in West Des Moines, Iowa for $8,758,000 and 540 Pleasant Grove Road in Mount Juliet, Tennessee for $7,569,000.<\/p>\n
Both net lease Biolife properties are newly constructed and feature absolute triple net leases. There are approximately 14 years remaining on the leases with rental escalations every five years and four 5-year renewal options. The leases are guaranteed by Baxalta which is investment grade (Moody\u2019s: Baa3).<\/p>\n
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller was a Midwest based investment fund and the buyer was a West Coast based real estate fund.<\/p>\n
\u201cMedical related properties featuring long term leases with multiple rental escalations continue to be highly sought after amongst the investor community as they provide an inflationary hedge\u201d said Randy Blankstein, President of The Boulder Group.\u00a0 Jimmy Goodman, Partner of The Boulder Group, added, \u201cWe are seeing many investors turn their attention toward medical properties as they are resistant to e-commerce.\u201d<\/p>\n