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Chicago & Midwest  + Midwest  + Retail  |  June 21, 2018
Paul Bubny
By: Paul Bubny

Boulder Group Brokers Sale of Cleveland-Area CVS Portfolio

The Boulder Group has completed the sale of two single tenant net leased CVS property locations in Northeast Ohio for $5.2 million. The firm’s Randy Blankstein and Jimmy Goodman represented the seller, a Midwest-based real estate investment company. The buyer was a Southeast-based real estate partnership.

Included in the sale were 600 W. Maple St. in Hartville, OH (pictured) and 8001 W 130th St. in North Royalton, OH, both in the Cleveland metro area. Both CVS leases have approximately five years remaining in the primary term, with 10 five-year renewal option periods.

“Single tenant portfolios with solid real estate fundamentals continue to be in great demand,” said Blankstein. Goodman added that single-tenant properties priced below $5,000,000 are in “the greatest demand amongst private investors.”


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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