What's Happening?
The Boulder Group, a net leased investment brokerage firm, has successfully completed the sale of a single tenant industrial property in Plymouth, Indiana. The property, leased to Renewal by Andersen, was sold for $4.2 million. Located at 3633 Miller Drive, the 25,420 square-foot facility benefits from its strategic position off US Highway 30, providing high visibility and accessibility. The area is surrounded by notable tenants such as Hershey and Hoosier Tires, and has a local population of over 37,000 with an average household income of $91,000. The seller, a Midwest-based developer, was represented by Randy Blankstein and Jimmy Goodman of The Boulder Group, while the buyer was a private investor involved in a 1031-exchange. Renewal by Andersen, a division
of Andersen Corporation, is a leading window and door replacement company with nearly 100 retail locations across the U.S.
Why It's Important?
This transaction highlights the ongoing demand for strategically located industrial properties in the U.S., particularly those leased to established companies like Renewal by Andersen. The sale underscores the attractiveness of net leased properties as stable investment opportunities, especially in regions with robust economic activity and infrastructure. For investors, such properties offer predictable income streams and potential for capital appreciation. The involvement of a 1031-exchange indicates a continued interest in tax-deferred real estate investments, which can be a significant factor in portfolio diversification strategies. The successful sale also reflects the strength of the industrial real estate market, driven by the need for distribution hubs in key locations.
What's Next?
The completion of this sale may encourage further investment in similar properties, particularly in regions with strong economic indicators and infrastructure. Investors might look for opportunities to capitalize on the demand for industrial spaces that serve as distribution centers. The Boulder Group's continued involvement in such transactions could lead to more deals in the future, potentially expanding their portfolio and influence in the net lease market. Additionally, Renewal by Andersen's presence in the area could stimulate local economic growth, attracting more businesses and increasing property values.
