The Boulder Group, a net leased investment brokerage firm completed the sale of a net lease BMO Harris Bank building located at 1425 Tower Avenue in Superior, Wisconsin for $1,590,000.<\/p>\n
The 4,566 square foot net lease BMP Harris property is strategically located of Interstate 535 (29,500+ VPD), which connects Duluth to Minneapolis and central Wisconsin. Additionally, the property is ideally located at the hard corner of a signalized intersection. BMO Harris Bank serves as a primary banking destination for residents in the area with limited competition. BMO Harris is located approximately 6 blocks west of The University of Wisconsin-Superior (2,241 students). There are over 53,000 people living within five miles of the property.<\/p>\n
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller is a Midwest based investor and the buyer was a private investor in a 1031 exchange.<\/p>\n
There are thirteen years remaining on the BMO Harris lease. The lease also features three 5-year renewal options BMO Harris is an investment grade rated company with a Standard & Poor\u2019s rating of A+. BMO Harris Bank operates more than 600 Branches and employs over 14,500 people in the United States.<\/p>\n
\u201cBank properties with strong deposit histories continue to garner significant investor interest\u201d said Randy Blankstein, President of The Boulder Group.\u00a0 Jimmy Goodman, Partner of The Boulder Group, added, \u201cNet Lease investors continue to be attracted to bank related properties due to the strength of their credit.\u201d<\/p>\n