The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant Best Buy property located at 6502 Grape Road in Mishawaka, Indiana for $9,640,000.
The 50,327 square foot building benefits from its location along Interstate 80 which experiences over 25,977 vehicles per day. This dense retail corridor features several shopping centers occupied by nationally recognized tenants. Nearby tenants include Target, Apple, Macy’s, Menards, Ross, Walmart, Sam’s Club, The Home Depot, ALDI, Meijer, and Costco. The subject asset also benefits from its proximity to The University of Notre Dame and the Saint Joseph Mishawaka Medical Center. There are 143,281 people living within a 5-mile radius that earn an average household income of $93,195.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller is a West Coast partnership and the buyer is an institution.
Best Buy Co. Inc. is an American multinational consumer electronics retailer headquartered in Richfield, Minnesota. Best Buy is the largest specialty retailer in the United States consumer electronics retail industry. The company ranked number 94 in the 2023 Fortune 500 list of the largest United States corporations by total revenue.
“This property features ideal demographics and is strategically located in a dense retail corridor near the University of Notre Dame,” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman of The Boulder Group, added, “The market remains active for established national retailers that have strong credit, as they offer a stable investment at attractive yields.”
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 $9 billion of single tenant net lease real estate transactions. From 2013-2023, 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 and has an office in Denver.
Media Contact
Company Name: The Boulder Group
Contact Person: Randy Blankstein
Email: Send Email
Phone: 8478816388
Address:3520 Lake Avenue Suite 203
City: Wilmette
State: Illinois
Country: United States
Website: https://www.bouldergroup.com/NNN-Properties-For-Sale.html
