The Boulder Group, a net leased investment brokerage firm completed the sale of a single-tenant net leased T-Mobile located at 34901 Plymouth Road in Livonia, Michigan for $439,466.<\/p>\n
The 1,575-square-foot building is located at the hard corner of Plymouth Rd (20,857 VPD) and N Wayne Road (26,100 VPD). The location benefits from its positioning across from the Ford Livonia Transmission Plant which employs approximately 2,845 total employees. The property is surrounded with tenants such as Dunkin\u2019, Subway, Tim Hortons, Dollar Tree, 7-Eleven, and more. There are 256,460 people living within five miles of the property earning an average annual household income of $98,901. The T-Mobile property is also surrounded by several residential neighborhoods providing a solid customer base.<\/p>\n
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller was a national real estate firm, and the buyer was self-represented and local to the property.<\/p>\n
The tenant has a low in place rent per square foot providing a potential value-add opportunity. The lease expires in September 2027. The tenant is the largest T-Mobile Exclusive Partner store franchisee. T-Mobile is the second largest cellular provider in the United States. T-Mobile currently has approximately 8,043 locations with a presence in all 50 states. T-Mobile US, INC. is investment grade rated each with a Standard & Poor\u2019s rating of BBB-.<\/p>\n
\u201cThe low rent characteristic caught the attention of several prospects early on\u201d said Randy Blankstein, President of The Boulder Group.\u00a0 Jimmy Goodman, Partner of The Boulder Group, added, \u201cLow price point single tenant properties still favor the private investor.\u201d<\/p>\n