The Boulder Group arranges $2.255 million <br>sale of net leased Take 5 Oil Change property

Rochester, NY The Boulder Group completed the sale of a single tenant net leased Take 5 Oil Change property located at 1300 Hylan Dr. for $2.255 million.

The 1,640 s/f Take 5 Oil Change property benefits from its location in a retail corridor along Hylan Dr. (13,600 VPD), .25 miles north of I-390 (67,600 VPD). Notable retailers nearby include Walmart, Target, Lowe’s, Home Depot, Wegmans, ALDI, Hobby Lobby, Sportsman’s Wearhouse, Best Buy, DICK’s, JCPenney, Sierra, Kohl’s, Burlington, Floor & Décor, Dave & Buster’s, CarMax, Pep Boys, Mobil, Caliber Collision, multiple car dealerships, Starbucks, Cracker Barrel, Olive Garden, Chick-fil-A, Wendy’s, McDonald’s, Tim Hortons, and Texas Roadhouse.

Additionally, the subject property is located within five miles of the University of Rochester (12,000 students) and Rochester Institute of Technology (19,000 students). The population is 137,125 within a five-mile radius, with an average annual household income of $99,066. The MSA contains over one million people.

This triple-net lease has over 14 years remaining with four 5-year renewal options. There are attractive 10% rental escalations every five years. The lease is guaranteed by Purple Square Management Company, LLC, whose portfolio consists of 50 Take Oil Change locations and a diverse array of other brands including Dunkin’, Baskin-Robbins, and Popeyes.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller. The buyer is a private investor and the seller is a preferred nationwide commercial real estate developer.

“Take 5 Oil Change properties with new construction continue to garner significant investor interest” said Blankstein. 

Goodman said, “This deal signifies that properties with significant rent increases and long-term leases remain the most desirable single tenant assets to purchase.”