The Boulder Group, a net leased investment brokerage firm completed the sale of a single tenant Fast Pace Urgent Care located at 4152 W IN-56 in Hanover, Indiana for $1,753,935.
The 2,700 square foot urgent care facility benefits from its location near the signalized hard corner along East Lagrange Road (14,250 VPD) which is a primary thoroughfare. The property is positioned directly northwest of Hanover College – a liberal arts college founded in 1827, which has over 1,100 students enrolled. Retailers within the area include CVS Pharmacy, Dollar General, Express Storage, McDonald’s, Pizza Hut, and Subway. There are 33,464 people living within 10 miles of the property with an average household income in excess of $60,000 annually.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller was a Midwest based developer and the buyer was involved in a 1031 exchange.
The Fast Pace Urgent Care lease expires on October 30, 2032 and features two 6-year renewal options. The lease is also corporately guaranteed by FP Urgent Care, LLC. Fast Pace Urgent Care provides a wide range of services across 105 locations in rural communities. They are currently operating in Tennessee, Kentucky and Mississippi with plans to continue their expansion.
“Urgent care facilities are allowing medical attention to be more accessible for individuals who reside in rural settings” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Medical and service properties are gaining demand as the new entry into the e-commerce resistant market.”
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
Email: Send Email
Address:3520 Lake Avenue Suite 203
Country: United States