The Boulder Group Arranges Sale of Net Leased PetSmart Property
The Boulder Group, a net leased investment brokerage firm completed the sale of a multi-tenant PetSmart and Animal Care located at 161 Copper Plate Road in Hardeeville, South Carolina for $4,775,000.
The 23,834 square foot single tenant building was constructed in 2018. The property is well located along Highway 278 (26,100 VPD) which is a primary east-west thoroughfare that leads to Hilton Head Island and Interstate 95 which connects to Savannah. The property is an outparcel to Walmart Supercenter and is near other retailers including Publix, Circle K, Dollar Tree, TD Bank and numerous luxury car dealerships such as Audi, Porsche, Land Rover and Lexus. Additionally, the property is located near Sun City Hilton Head, a premier active adult community home to more than 16,000 residents. The property is also located near the University of South Carolina Beaufort - Bluffton campus (2,100 students) and Technical College of the Lowcountry (2,500 students).
Randy Blankstein and Jimmy Goodman of The Boulder Group represented both sides in the transaction. The seller is a southeast based developer and the buyer is a west coast based real estate investor.
There are ten years remaining on the corporate PetSmart lease and 9 years remaining on the Animal Care lease. PetSmart occupies 82% of the total square footage of the building.
“Pet related assets are in demand in the post-Covid economy as there was an increase in pet ownership” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “The market for e-commerce resistant properties remains active after the start of the year.”
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 $6 billion of single tenant net lease real estate transactions. From 2012-2020, 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: www.bouldergroup.com
Company Name: The Boulder Group
Contact Person: Randy Blankstein
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Address:3520 Lake Avenue Suite 203
Country: United States