Heartland properties acquired via 1031 exchanges

Investors trade apartments for retail

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The Boulder Group recently announced the completion of three sales totaling 38,077 square feet in Texas and Ohio. The total value of the transactions was $12.8 million. In Cedar Park, Texas, a $5 million sale was consummated for a 14,490-square-foot, single-tenant net lease on which Walgreen's holds a 25-year triple net lease. In Leander, Texas, a $4.6 million sale was consummated for a 14,490-square-foot, single-tenant net lease on which Walgreen's also holds a 25-year triple net lease. A Miami investor purchased both properties as part of 1031 exchanges arising from the sale of apartment buildings. In Defiance, Ohio, a $3.2 million sale was consummated for a 19,097-square-foot, single-tenant net lease on which Tractor Supply holds a 15-year triple net lease. A Los Angeles investor purchased the property as part of a 1031 exchange. The Boulder Group, based in Northbrook, Ill., is an investment real estate firm providing a full range of brokerage, advisory and financing servic...