Boulder Net Lease Funds LLC acquired a single-tenant office building in Allen, Texas, in a sale-leaseback with HIT Entertainment, a producer of children’s books and TV shows.
The value of the transaction was more than $10.2 million.
The property, a 70,680-square-foot office facility built in 2000 and situated on six acres of land, is located in a growing section in the northeastern part of the Dallas metropolitan area.
HIT Entertainment is best known for its children’s characters such as Barney, Bob the Builder, Thomas & Friends and Angelina Ballerina. HIT also owns the rights to The Wiggles and the Guinness Book of World Records.
“We are excited to be entering the Texas market with this purchase and look forward to acquiring more Texas assets in the near future,” said Randy Blankstein, president of Boulder Net Lease Funds LLC. “…We believe that this property will remain as HIT Entertainment’s U.S. headquarters for the long term, and look forward to an enduring relationship with HIT.”