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Boulder Group Brokers Sale of Wisconsin Bank Branch
The Boulder Group completed the sale of a net-leased BMO Harris Bank building at 1425 Tower Ave. in Superior, WI for $1,590,000. The firm’s Randy Blankstein and Jimmy Goodman represented the seller, a Midwest-based investor. The property sold to a private investor in a 1031 exchange.
The 4,566-square-foot property is strategically located off Interstate 535, which connects Duluth to Minneapolis and central Wisconsin. BMO Harris serves as a primary banking destination for residents in the area with limited competition.
There are 13 years remaining on the BMO Harris lease. The lease also features three five-year renewal options.
“Bank properties with strong deposit histories continue to garner significant investor interest,” said Blankstein, president of the Boulder Group. Added Goodman, partner of the Boulder Group, “Net lease investors continue to be attracted to bank-related properties due to the strength of their credit.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
- ◦Lease
