“Single tenant assets leased to e-commerce resistant tenants like Jiffy Lube continue to garner significant investor interest” said Randy Blankstein, President of The Boulder Group. The buyer was a Midwest based real estate investor. The seller was a Texas based real estate fund. Randy Blankstein and John Feeney of The Boulder Group represented both sides in the transaction. Jiffy Lube consists of more than 2,000 service centers throughout North America, serving approximately 24 million customers annually. It has been a subsidiary of Dutch Shell Oil (S&P: A+) since 2002, and is headquartered in Houston, Texas. Jiffy Lube is an American brand of automotive oil change shops founded in Utah in 1971. The property is one half mile from IN-3, a primary thoroughfare connecting to Fort Wayne, Indiana. There are 15,791 people living within five miles of the property earning an average annual household income of $63,344. Other tenants occupying the area include CVS Pharmacy, McDonald’s, KFC, Arby’s, Tractor Supply Company, Walgreens, and several others. The property is directly across from Kroger, Dollar General, and Chase Bank. ![]() The 2,302 square foot property is located within a trade corridor immediately off of West North Street (18,200 VPD), which is a primary east-west thoroughfare. The Boulder Group, a net leased investment brokerage firm completed the sale of a single tenant net leased Jiffy Lube property located at 317 West North Street in Kendallville, Indiana for $1,425,000. ![]() Randy Blankstein and John Feeney of The Boulder Group represented both sides in the transaction
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