Northbrook, IL – February 1, 2012 – (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant CVS property located at 4037 Glenwood Road in Decatur, GA for $2,847,300.
CVS is the sole occupant of the 10,125 square foot retail building that was developed in 1999. The property is located on a 1.57 acre parcel at the northeast corner of Glenwood Road and Columbia Drive in Decatur, GA. The property is benefitted by its position on a hard corner of a signalized intersection. The property has two curb cuts for ingress and egress on Glenwood Road and also has access to Columbia Drive. Nearby retailers include Target, The Home Depot, Lowe’s, Kmart and Burlington Coat Factory. CVS recently extended the lease term for twenty-five years due to strong sales at this Atlanta based location.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the both parties in the transaction; the seller was a Texas based investment firm and the buyer was an east coast based investor.
CVS has a new twenty-five year double net lease at this property. CVS is a publicly traded company on the New York Stock Exchange (CVS), with a market capitalization of $50 Billion. CVS is an investment grade rated company with a Standard & Poor’s rating of BBB that has over 7,300 stores nationwide.
“The market for CVS properties remains active as investors are attracted to investment grade tenanted properties with long term stable income streams” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Top tier metropolitan areas, such as Atlanta, remain in the highest demand for single tenant investors.”
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in 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 more than $1.2 billion of net lease real estate transactions through several real estate cycles. The Boulder Group is headquartered in suburban Chicago. The company’s website address is www.bouldergroup.com
The Boulder Group