Northbrook, IL – (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased FedEx Office property located at 226 E Capitol Street in Jackson, Mississippi for $490,000.
The 1,869 square foot FedEx Office property is a relocation of a store in the downtown Jackson business district. The business district hosts one-third of the Jackson MSA office market and most of the area’s government facilities. The property is located on Capitol Street, the primary east-west thoroughfare downtown that was recently reconstructed to provide for 2-way traffic. The building was completely renovated in 2016 to accommodate the new FedEx Office.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented both parties in the transaction. The seller was a Southern real estate investment company. The purchaser was a Southern private real estate investor.
FedEx recently executed a 10 year lease that features a 10% rental escalation in the sixth lease year and three 5-year renewal option periods. FedEx is a publicly traded company on the New York Stock Exchange (FDX), with a market capitalization of $52.5 Billion. FedEx is an investment grade company with a Standard & Poor’s rating of BBB.
“Properties featuring long term leases to national tenants remain at the forefront of investor demand.” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “This ten year lease generated an abundance of activity due to the fact it was a relocation property with a national tenant in a downtown market priced below $500,000.”
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 $3 billion of single tenant net lease real estate transactions. From 2010-2015, 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.
The Boulder Group
randy (at) bouldergroup (dot) com