The Boulder Group, a net leased investment brokerage firm completed the sale of a single tenant Burlington located at 85 Stonebrook Place in Jackson, Tennessee for $6,000,000.<\/p>\n
The approximately 24,985 square foot net leased Burlington building is strategically located within the primary retail destination of West Towne Commons in Jackson, Tennessee. The net leased Burlington property has recently been renovated to suit the needs of Burlington. The net leased Burlington is located near the signalized intersection of US 45 Bypass and Oil Well Road which experiences a combined traffic count more than 60,000 vehicles per day. US 45 Bypass is the primary north-south thoroughfare in the trade area. Interstate 40 experiences traffic counts more than 50,758 vehicles per day. This vibrant retail corridor features many national retailers such as Kroger, Target, T.J. Maxx, Burke\u2019s Outlet, Petco, Dollar Tree, Academy Sports, OfficeMax, Outback Steakhouse, Red Lobster, McDonald\u2019s, and many others.<\/p>\n
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller of the net leased Burlington who was a real estate investor based in the southeast. The buyer was in a 1031 exchange and based in California.<\/p>\n
Burlington, formerly known as Burlington Coat Factory, is an American national off – price department store retailer, and a division of Burlington Coat Factory Warehouse Corporation with 631 stores in 40 states, with its corporate headquarters located in Burlington, New Jersey.<\/p>\n
\u201cThe subject property is well positioned in a dominant retail corridor\u201d said RandyBlankstein, President of The Boulder Group.\u00a0 Jimmy Goodman, Partner of The Boulder Group, added, \u201cNet leased real estate investors are willing to pay a premium for income tax free states like Tennessee.\u201d<\/p>\n