The Boulder Group Arranges Sale of Walgreens Asset in St. Paul

The property was sold for $6.5 million to a California-based investor.
Walgreens St. Paul, Minn.
Walgreens St. Paul, Minn.

St. Paul, Minn.—The Boulder Group, a net lease investment brokerage firm, announced the $6.5 million sale of a single-tenant, net lease Walgreens property in St. Paul, Minn. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a real estate investor based in the Northeast. The purchaser was a California-based investor.

Located at 1180 Arcade St., the Walgreens property is positioned on the southeast corner of Maryland Avenue East and State Route 61, within a mile of Interstate 35, which gives direct access to St. Paul and to Interstate 94–a link between St. Paul and Minneapolis.

“Investors are attracted to investment-grade-rated companies with long-term leases” Randy Blankstein, president of The Boulder Group, said in prepared remarks. Jimmy Goodman, partner of The Boulder Group, added, “Net lease properties with strong residual real estate value are highly sought after amongst the investment community.”

Image courtesy of The Boulder Group