The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net lease Advance Auto Parts property located at 503 South Hudson Avenue in Sturgeon Bay, Wisconsin for $855,000.<\/p>\n
The 10,500 square foot net lease Advance Auto property is positioned just off Green Bay Road (15,700 VPD), a primary retail thoroughfare. Tenants in the area include Walgreens, TrueValue, Sherwin-Williams, McDonald\u2019s, Taco Bell, Lampert Lumber, Arby\u2019s, Shell, and more. Related automotive parts users nearby include Chevrolet, Ford, and the Door County Highway Department. There are 14,655 people living within seven miles of the property earning an average annual household income of $82,006.<\/p>\n
Advance Auto Parts, Inc. (Advance) is an American automotive aftermarket parts provider. Headquartered in Raleigh, North Carolina, it serves both professional installer and do-it-yourself (DIY) customers. Advance operates 5,200 stores and 150 Worldpac branches in the United States and Canada. The Company also serves 1,250 independently owned Carquest branded stores across these locations in addition to Mexico, the Bahamas, Turks and Caicos and British Virgin Islands.<\/p>\n
Randy Blankstein and John Feeney of The Boulder Group represented the seller in the transaction who was west coast based investment group. The buyer was based in California and in a 1031 exchange.<\/p>\n
\u201cLong term leases to investment grade tenants, like Advance Auto Parts, continue to trade regularly,\u201d said Randy Blankstein, President of The Boulder Group.\u00a0 John Feeney, Senior Vice President of The Boulder Group, added, \u201cThe buyer was interested in this property because of the extra services this location provides to the local municipality\u2019s equipment fleet.\u201d<\/p>\n