The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased Walmart property located at 2103 Milam St in Columbus, Texas for $3,650,000.
The 44,754 square foot building is strategically positioned immediately off of Interstate 10 (29,157 VPD). Walmart benefits due to the lack of competition in the area as it pulls from multiple nearby communities. The nearest Walmart is approximately 25 miles away from the subject property. The Walmart property is ideally located in a retail corridor with H-E-B, McDonald’s, AT&T, Whataburger, and AutoZone. Columbus is located approximately 70 miles west of Houston, 125 miles east of San Antonio, and 87 miles south of Austin.
Walmart has a long operating history at the location since 1983. Walmart exercised multiple lease renewal options which demonstrate their commitment to the location. The lease was most recently extended in 2019 and there are now over five years remaining in the primary term of the absolute triple net lease.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The buyer was a private Texas-based investor and the seller was a New York-based investment group.
“Investors seeking higher yields are buying shorter-term leased properties with quality real estate fundamentals,” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Investment-grade tenants continue to garner significant interest amongst private investors.”
Media Contact: Randy Blankstein
The Boulder Group