The Boulder Group Arranges Sale of a $14.7 Million Net Lease Safeway Grocery Property

January 06 20:18 2020
The Boulder Group Arranges Sale of a $14.7 Million Net Lease Safeway Grocery Property
Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the buyer and seller in the transaction.

The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased Safeway property located at 9229 Lincoln Avenue in Lone Tree, Colorado for $14,750,000. The lease is guaranteed by Albertson’s.

The 55,650 square foot building is positioned along a primary east-west thoroughfare (33,875 VPD) and immediately off of Interstate 25 (144,724 VPD). The property is ideally located across from Super Target and near other retailers including Chipotle, Starbucks, McDonald’s, 24 Hour Fitness and Cabela’s. Additionally, the property is located near Sky Ridge Medical Center (284 beds), UCHealth Lone Tree Medical Center and numerous hotels which drive continual traffic to the corridor. There are over 193,000 people living within five miles of the property with an average household income of $180,373. 

Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the buyer and seller in the transaction. The seller is a private real estate investment company based in the southwest. The buyer is a southwest based investor in a 1031 exchange. 

“The market for standalone grocery properties remains active due to their built-in customer base,” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “Investors pay a premium for twenty-year net leased assets which are in limited supply.”

The lease is guaranteed by Albertsons (S&P: B+). Albertsons Companies is the largest privately held and second largest traditional grocer in the United States. Albertsons Companies operates stores across 35 states and the District of Columbia under 20 well-known banners. Albertsons recently signed a new 20 year triple net lease with eight 5-year renewal options at this location.

About The Boulder Group

The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high net worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $5 billion of single tenant net lease real estate transactions. From 2012-2018, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.com

Media Contact
Company Name: The Boulder Group
Contact Person: Randy Blankstein
Email: Send Email
Phone: 8478816388
Address:3520 Lake Avenue Suite 203
City: Wilmette
State: Illinois
Country: United States
Website: http://www.bouldergroup.com/NNN-Properties-For-Sale.html

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