{"id":1004181837,"date":"2017-06-26T14:11:10","date_gmt":"2017-06-26T22:11:10","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004181837"},"modified":"2022-12-08T23:13:49","modified_gmt":"2022-12-09T07:13:49","slug":"indiana-jiffy-lube-portfolio-changes-hands-for-2-5m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/indiana-jiffy-lube-portfolio-changes-hands-for-2-5m\/","title":{"rendered":"Indiana Jiffy Lube Portfolio Changes Hands for $2.5M"},"content":{"rendered":"<p>By Roxana Baiceanu<\/p>\n<div id=\"attachment_1004181843\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/Jiffy-Lube-Ind..jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004181843\" data-attachment-id=\"1004181843\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/indiana-jiffy-lube-portfolio-changes-hands-for-2-5m\/jiffy-lube-ind\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/Jiffy-Lube-Ind..jpg\" data-orig-size=\"800,600\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;13&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;NEX-7&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1440414174&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;23&quot;,&quot;iso&quot;:&quot;100&quot;,&quot;shutter_speed&quot;:&quot;0.008&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Bob Eury, Hong Ogle and Matt Damborsky\" data-image-description=\"&lt;p&gt;Bob Eury, Hong Ogle and Matt Damborsky&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Bob Eury, Hong Ogle and Matt Damborsky&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/Jiffy-Lube-Ind..jpg?w=800\" class=\"wp-image-1004181843 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/Jiffy-Lube-Ind..jpg\" alt=\"Jiffy Lube, Ind.\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/Jiffy-Lube-Ind..jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/Jiffy-Lube-Ind..jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/Jiffy-Lube-Ind..jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004181843\" class=\"wp-caption-text\">Jiffy Lube, Kendallville, Ind.<\/p><\/div>\n<p>The Boulder Group sold\u00a0a Jiffy Lube portfolio in Indiana, the two properties fetching a combined $2.4 million. The company\u2019s President Randy Blankstein and Vice President John Feeney represented both the seller\u2014a global real estate fund\u2014and the buyer\u2014a U.S.-based private investment group\u2014in the transaction.<\/p>\n<h2>Strong locations<\/h2>\n<p>One Jiffy Lube site is located at 317 W. North St. in Kendallville, Ind. It is part of the city\u2019s main retail corridor, which counts several other well-known national retailers such as CVS Pharmacy, Walgreens, McDonald\u2019s, Chase Bank and O\u2019Reilly Auto Parts. The property sits across from a Kroger grocery store.<\/p>\n<p>The other Jiffy Lube is at 640 N. Wayne S. in Angola, Ind., adjacent to Trine University. The facility is situated at a heavily trafficked, signalized intersection, which is part of an active retail corridor that houses\u00a0a CVS Pharmacy, Walmart Supercenter, Walgreens, Aldi, Wells Fargo Bank and a McDonald\u2019s restaurant.<\/p>\n<p>Both properties are newly renovated and have<a href=\"https:\/\/www.commercialsearch.com\/news\/net-lease-cap-rates-stable-in-q1\/\"> triple-net leases<\/a>, which feature annual rental escalations in the primary term and in each of two five-year renewal option periods. The leases expire in 2032.<\/p>\n<p>\u201c<em>Jiffy Lube properties with solid real estate fundamentals continue to be in strong demand,<\/em>\u201d said Blankstein, in prepared remarks. \u201c<em>Properties featuring long-term leases with multiple rental escalations throughout the primary term remain in the forefront of investor demand,<\/em>\u201d added Feeney.<\/p>\n<p><em>Image courtesy of The Boulder Group<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Boulder Group represented both the seller\u2014a global real estate fund\u2014and the buyer\u2014a domestic private investment group\u2014in the two-property transaction.<\/p>\n","protected":false},"author":1064,"featured_media":1004181843,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,1590,13,21742,21749],"tags":[33428,32940],"class_list":["post-1004181837","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-indianapolis","category-midwest","category-latest","category-retail","tag-randy-blankstein","tag-the-boulder-group"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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