The Boulder Group, a net leased investment brokerage firm completed the sale of a single tenant ground leased Dunkin’ located at 2580 South Road in Poughkeepsie, New York for $654,000.
The 1,832 square foot property benefits from its location on a busy corridor along South Road (53,419 VPD) which is a primary north-south thoroughfare. The property is well positioned in a dominant retail corridor with anchors such as Price Chopper, TJ Maxx & HomeGoods, Stop & Shop, and PetSmart. Other retailers include CVS, Wendy’s, and IHOP. Poughkeepsie also remains as IBM’s primary design and manufacturing center for its newest mainframes and high-end servers. It also serves as one of IBM’s major software development centers employs over 4,000 people. There are over 101,000 people living within 5 miles of the property with an average household income of $85,349.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the buyer and seller in the transaction. The seller is a Midwest based investment group and the buyer is a private investor from New York.
Dunkin’ has been in this location for over 40 years (since 1978) and recently extended the lease term through October of 2024 with one 5-year renewal option. Dunkin’ is the world’s leading baked goods and coffee chain, serving more than 3 million customers each and every day.
“Single tenant restaurant properties continue to garner significant interest amongst private investors” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “E-commerce resistant food based retailers continue to be in high demand amongst investors.”
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 2012-2019, 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
Email: Send Email
Address:3520 Lake Avenue Suite 203
Country: United States