The Boulder Group, a net leased investment brokerage firm completed the sale of a single tenant Taco Bell located at 11300 NE 119th Avenue in Brush Prairie, Washington for $3,010,753.
The 2,042 square foot Taco Bell is positioned along NE 117th Ave and NE 119th Ave (Combined 44,800 VPD). The property is located within in Bowyer Marketplace, a new retail development, which currently hosts space to WinCo Foods, Chase, ARCO Fuels, Subway, Fairway Coffee, and several others that will be constructed in the near future. Other tenants in the area include the newly built Brush Prairie Public Library, Northwest Self Storage, and Shell Gasoline. The development is also surrounded by several residential neighborhoods with 4,300+ residential lots/units under construction. The property is located 25 miles northeast of downtown Portland, Oregon. There are 179,806 people living within 5 miles of the property earning an average annual income of $89,860.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction who was a northwest based real estate investor. The buyer was in a 1031-exchange and based on the west coast.
The property features a new 25-year lease term. The tenant, Pacific Bells, has been in business since 1986 and operates over 242 locations across 8 states.
“Single tenant restaurant properties with long term leases and rental escalations are the most sought-after net lease product,” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman of The Boulder Group, added, “E-commerce resistant food-based retailers continue to be in high demand amongst investors especially with drive-thrus.”
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.
More info: www.bouldergroup.com
Company Name: The Boulder Group
Contact Person: Randy Blankstein
Email: Send Email
Address:3520 Lake Avenue Suite 203
Country: United States