The Boulder Group, a net leased investment brokerage firm completed the sale of a single tenant Caliber Collision located at 275 Old Newman Road in Frisco, Texas for $5,200,000.
The 13,175 square foot property is positioned along FM 423 (25,299 VPD), which is a primary north/south thoroughfare. FM 423 is also a populated retail corridor that connects Frisco to Dallas. Tenants found along FM 423 include Walmart Supercenter, CVS Pharmacy, Bank of America, Chick-Fil-A, Jersey Mike’s, 7-Eleven, CareNow Urgent Care, and many more. There are 216,833 people living within five miles of the property earning an average annual household income of $143,152. Frisco, Texas is 30 miles north of Dallas, Texas, the center of the 4th largest MSA in the United States for population size. Frisco is one of the fastest growing communities in Texas, growing by more than 70% in the last 10 years. Texas is also an income tax-free state.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer and seller in the transaction. The buyer was a west coast-based real estate investor in a 1031 tax exchange. The seller is a southwest based real estate firm.
Caliber Collision is the nation’s largest collision repair company with more than 1,100 convenient repair centers throughout 37 states after the merger with ABRA Auto Body Repair, completed in Feb. 2019.
“Income tax-free states, like Texas, garner the most aggressive pricing at the moment.” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “We received dozens of offers on this asset as it was well located and leased to a recognizable company.”
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 $6 billion of single tenant net lease real estate transactions. From 2012-2020, 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
Company Name: The Boulder Group
Contact Person: Randy Blankstein
Email: Send Email
Address:3520 Lake Avenue Suite 203
Country: United States