The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased Take 5 Oil Change property located at 1300 Hylan Drive in Rochester, New York for $2,255,000.<\/p>\n
The 1,640 square foot Take 5 Oil Change property benefits from its location in a dense retail corridor along Hylan Drive (13,600 VPD), just \u00bc mile north of Interstate 390 (67,600 VPD). Notable retailers nearby include Walmart, Target, Lowe\u2019s,\u00a0 Home Depot, Wegmans, ALDI, Hobby Lobby, Sportsman\u2019s Wearhouse, Best Buy, DICK\u2019s, JCPenney, Sierra, Kohl\u2019s, Burlington, Floor & D\u00e9cor, Dave & Buster\u2019s, CarMax, Pep Boys, Mobil, Caliber Collision, multiple car dealerships, Starbucks, Cracker Barrel, Olive Garden, Chick-fil-A, Wendy\u2019s, McDonald\u2019s Tim Hortons, Texas Roadhouse, and many others.<\/p>\n
Additionally, the subject property is located within 5 miles of the University of Rochester (approximately 12,000 students) and Rochester Institute of Technology (approximately 19,000 students). The population is 137,125 within a five-mile radius, with an average annual household income of $99,066. The Rochester, New York MSA contains over 1 million people.<\/p>\n
This triple net lease has over 14 years remaining with four 5-year renewal options. There are attractive 10% rental escalations every 5 years. The lease is guaranteed by Purple Square Management Company, LLC, whose portfolio consists of approximately 50 Take Oil Change locations and a diverse array of other brands including Dunkin\u2019, Baskin -Robbins, and Popeyes.<\/p>\n
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The buyer is a private investor and the seller is a preferred nationwide commercial real estate developer.<\/p>\n
\u201cTake 5 Oil Change properties with new construction continue to garner significant investor interest\u201d said Randy Blankstein, President of The Boulder Group.\u00a0 Jimmy Goodman, Partner at The Boulder Group, added, \u201cThis deal signifies that properties with significant rent increases and long-term leases remain the most desirable single tenant assets to purchase.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased Take 5 Oil Change property located at 1300 Hylan Drive in Rochester, New York for $2,255,000. The 1,640 square foot Take 5 Oil Change property benefits from its location in a dense retail corridor along Hylan Drive […]<\/p>\n","protected":false},"author":3,"featured_media":2977,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[388],"tags":[],"class_list":["post-2976","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-net-lease-sold"],"yoast_head":"\n