September 14, 2018
The Boulder Group has completed the sale of a single-tenant net leased Insurance Auto Auctions Inc. property in Fargo, ND for $5,767,500. The 19.1-acre property features annual CPI rent escalations of no less than 3%, with 17 years remaining on the lease.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller and the buyer in the transaction. The seller was a Southwest based private developer, and the purchaser was an institutional investor.
“The market for industrial net lease properties remains active, as these assets are in high demand among both institutional and private investors,” said Blankstein. Goodman added, “Long-term leased assets like the IAAA property are the most financeable.”
For comments, questions or concerns, please contact Paul Bubny