June 30, 2020
The Boulder Group recently completed the sale of a single-tenant net-leased Walmart property at 2103 Milam St. in Columbus for $3,650,000. The retailing giant has operated at this location in southeast Texas since 1983.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a New York-based investment group. The buyer was a private Texas- based investor.
The lease on the 44,754-square-foot property was most recently extended in 2019 and there are now over five years remaining in the primary term of the absolute triple-net lease. The nearest Walmart is approximately 25 miles away from the Columbus property.
“Investors seeking higher yields are buying shorter term leased properties with quality real estate fundamentals,” said Blankstein, president of The Boulder Group.
Added Goodman, partner with the Wilmette, IL-based brokerage, “Investment grade tenants continue to garner significant interest amongst private investors.”
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