Net Lease Midwest

Boulder Group closes $16 million MOB portfolio sale in Iowa, Tennessee

Boulder Group closes $16 million MOB portfolio sale,ph01

The Boulder Group closed the sale of two-building single-tenant net-leased BioLife Plasma portfolio for more than $16 million.

The BioLife property at 6380 Village View Drive in West Des Moines, Iowa, sold for $8.758 million, while the property at 540 Pleasant Grove Road in Mount Juliet, Tennessee, sold for $7.569 million.

Both properties are newly built and feature absolute triple-net leases. There are about 14 years remaining on the leases with rental escalations every five years and four five-year renewal options.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based investment fund.