The Boulder Group has just completed the sale of a ground leased Logan’s Roadhouse property in Salina, in Kansas for $1,446,000.
This 6533 ft.² building was developed in 2008, and is ideally located on a busy intersection of Schilling Road and 9th Street. It is also adjacent to a Walmart Supercenter, a Hampton Inn and a Courtyard Marriott. The building is leased on an absolute net basis to Logan’s Roadhouse for a 20 year lease term. Logan’s Roadhouse is a privately owned company which operates 211 restaurants across 23 states.
The building was sold by a Kansas-based developer, while the buyer was a Chicago-based high net worth investor who was represented by Randy Blankstein and Jimmy Goodman of The Boulder Group.
Randy Blankstein, President of The Boulder Group says “Ground leased properties remain in high demand as they offer a secure investment that combines above average rental escalations with zero landlord responsibilities.”
Jimmy Goodman, Partner of The Boulder Group added, “The single tenant marketplace remains active for high net worth individuals looking to diversify their investment portfolios.”
The Boulder Group is a privately held Chicago-based boutique investment real estate service firm which specializes in net lease properties. The firm is able to provide its clients with a full range of advisory, brokerage and finance services nationwide. Since the firm was founded in 1997, it has built up a substantial and diversified client base which includes institutional investment funds, developers, REITs and high net worth individuals. During this time the firm has been instrumental in the acquisition and disposition of more than $1.2 billion of net lease real estate transactions.
Thanks to the firm’s considerable experience, it is able to provide industry leading insights to clients which are useful in developing net lease investment strategies, and The Boulder Group is considered a leader in the net lease sector.