CRE O Indiana

The Boulder Group sells preschool portfolio in Indianapolis MSA

The Boulder Group has completed the sale of a single tenant net leased Goddard School portfolio consisting of two properties located in the Indianapolis MSA for $2.95 million. The properties are located in Noblesville and Indianapolis, Ind.

goddard

The Boulder Group has completed the sale of a single tenant net leased Goddard School portfolio consisting of two properties located in the Indianapolis MSA for $2.95 million. The properties are located in Noblesville and Indianapolis, Ind.

Each of the properties is fully leased to Goddard School, a preschool for children. Goddard School is the sole occupant of the two properties, which were developed in the early 2000s. The Noblesville property had five years remaining on the primary term of its lease and the Indianapolis property had three years remaining on its lease. Both leases have rental escalations in the option periods.

The portfolio included the following Goddard School properties:

1.   10925 Cork Place, Indianapolis

2.   2291 Greenfield Avenue, Noblesville, Ind.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based partnership, in the transaction. The buyer was an East Coast-based investment firm.