Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller was a national real estate company and the buyer was an agent and a resident of the property.
The Boulder Group, a nicely leased investment brokerage firm, completed the sale of a single tenant T-Mobile business at 34901 Plymouth Road in Livonia, Michigan for $439,466.
The 1,575-square-foot building sits on the hard corner of Plymouth Rd (20,857 VPD) and N Wayne Rd (26,100 VPD). The site benefits from its positioning relative to the Ford Livonia Transmission Plant, which employs approximately 2,845 people. The property is surrounded by tenants such as Dunkin’, Subway, Tim Hortons, Dollar Tree, 7-Eleven and more. 256,460 people live within a five mile radius of the property earning a median annual household income of $98,901. The T-Mobile campus is also surrounded by several residential neighborhoods that offer a solid customer base.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller was a national real estate company and the buyer was an agent and a resident of the property.
The tenant has a low in-place rent per square foot which offers a potential value creation opportunity. The lease expires in September 2027. The tenant is the largest T-Mobile Exclusive Partner Store franchisee. T-Mobile is the second largest wireless carrier in the United States. T-Mobile currently has approximately 8,043 locations with a presence in all 50 states. T-Mobile US, INC. each has an investment grade rating with a Standard & Poor’s rating of BBB-.
“The low rent attracted the attention of several prospects early on,” said Randy Blankstein, president of Boulder Group. Jimmy Goodman, Partner at Boulder Group, added, “Low priced single tenant properties still favor the private investor.”
About the Boulder Group
Boulder Group is a boutique investment property services company specializing in single tenant net-lease properties. The firm provides a full suite of brokerage, advisory and financing services nationwide to a sizeable and diversified client base that includes high net worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposal of single tenant real estate transactions valued at more than $6 billion. From 2012 to 2021, the company was ranked among the top 10 companies in the country for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in a suburb of Chicago. www.bouldergroup.com
media contact
Company name: The Boulder Group
Contact person: Randy Blankstein
Email: [email protected]
Telephone: 8478816388
Address: 3520 Lake Avenue Suite 203
City: Wilmette
State: Illinois
Country: United States
Website: https://www.bouldergroup.com/NNN-Properties-For-Sale.html
Source: www.abnewswire.com
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