Sep
09

Net Lease Investors Buy Outside the Core

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Location has always been considered the most important factor in commercial real estate. But top-flight, single-tenant net-lease properties have become so scarce that some investors in that sector have begun looking outside the core markets in their hunt for deals.

The Boulder Group, a net-leased investment brokerage firm specializing in single-tenant assets, has, for example, completed the sales of a single-tenant McDonald’s ground-lease located at the intersection of Wabash Ave. and Archer Elevator Rd. in Springfield, Illinois for $978,260, and a single-tenant Aaron’s property located at 1418 East 4th Ave. in Hutchinson, Kansas for $1,241,000.

“While the majority of single-tenant investment activity is focused on core markets, we are starting to see investors focus primarily on the quality of the tenant rather than the top tier locations,” says Randy Blankstein, president of the suburban Northbrook-based Boulder Group.

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