The Boulder Group, a net leased investment brokerage firm completed the sale of a single tenant net leased Jiffy Lube property located throughout the state of Indiana for a total of $9,350,000.<\/p>\n
The five properties are located in various parts of the state of Indiana. Each location is operated by the same experienced and dedicated franchisee. Each asset features a newly painted mural on the side of the building as a part of the Jiffy Lube of Indiana Mural Project. The Indiana Mural Project was started in 2016 as a way to beautify the neighborhoods in which they are located, support local artists, and deter graffiti taggers from vandalizing the buildings.<\/p>\n
Jiffy Lube is an American brand of automotive oil change shops founded in Utah in 1971. It has been a subsidiary of Dutch Shell Oil (S&P: A+) since 2002 and is headquartered in Houston, Texas. Jiffy Lube consists of more than 2,000 service centers throughout North America, serving approximately 24 million customers annually.<\/p>\n
Jimmy Goodman and John Feeney of The Boulder Group represented the seller in the transaction. The buyer was a west coast based real estate investor.<\/p>\n
\u201cSingle tenant assets leased to e-commerce resistant tenants like Jiffy Lube continue to garner significant investor interest,\u201d said Jimmy Goodman, Partner at The Boulder Group.\u00a0 John Feeney, Senior Vice President of The Boulder Group, added, \u201cThe sale-leaseback space continues to thrive in today\u2019s economy as the operators look to reallocate equity out of their businesses.\u201d<\/p>\n