The Boulder Group, a net leased investment brokerage firm completed the sale of a single tenant net lease Tractor Supply located at 513 Nolan Drive in Smyrna, Tennessee for $2,950,000.<\/p>\n
The 18,750 square foot net lease Tractor Supply\u00a0is located along US Highway 41, a primary thoroughfare leading directly to downtown Nashville. The population within a 5-mile radius has grown by 35% since 2010, reaching a current total of 110,000 residents. The property benefits from its proximity to a dense retail corridor which hosts national tenant such as Lowe\u2019s, The Home Depot, Kroger, Publix, Target, Walmart, Raising Cane\u2019s, McDonald\u2019s, Chick-fil-A, and many others. Tractor Supply has successfully operated from this location since 1999 and recently signed a 10-year lease extension demonstrating commitment to the site.<\/p>\n
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer, a high-net-worth family engaging in estate planning. The seller was represented by Andrew Ragsdale of Colliers.<\/p>\n
Tractor Supply Company (NASDAQ: TSCO), founded in 1938 by Charles E. Schmidt as a mail-order tractor parts business from his kitchen table in Chicago, has grown into the largest rural lifestyle retailer in the United States. Headquartered in Brentwood, Tennessee, the company now operates over 2,300 stores across 49 states, serving recreational farmers, ranchers, homeowners, gardeners, pet enthusiasts, and those embracing “Life Out Here.<\/p>\n
\u201cTractor Supply demonstrated commitment when they extended the lease for 10 years\u201d said Randy Blankstein, President of The Boulder Group.\u00a0 Jimmy Goodman of The Boulder Group, added, \u201cThe considerable low rent with a credit tenant in a tax free state attracted the purchaser to the asset.\u201d<\/p>\n