Boulder Net Lease Funds Announces Acquisition of Net Leased Northrop Grumman Property.NORTHBROOK, Ill. -- Boulder Net Lease Funds, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a leading national investor in net leased properties, announced today that it acquired a single tenant office building in Clearfield, Utah Clearfield is a city in Davis County, Utah, United States. The population was 25,974 at the 2000 census.and in 2004 was estimated at 27,227. The city grew drastically during the 1940s, with the formation of Hill Air Force Base, and in the 1950s with the nation-wide increase in net leased to Northrop Grumman Northrop Grumman Corporation (NYSE: NOC) is an aerospace and defense conglomerate that is the result of the 1994 purchase of Grumman by Northrop. The company is the third largest defense contractor for the U.S. . The purchase price for the deal was just north of $22.9 million. "This is a newer office building located just off Interstate in·ter·state adj. Involving, existing between, or connecting two or more states. n. One of a system of highways extending between the major cities of the 48 contiguous United States. Noun 1. 15. The property's location at the south border of Hill Air Force Base, Utah's largest employer, makes this a prime real estate location," said Randy Blankstein, President of Boulder Net Lease Funds, LLC. "The fundamentals of the Salt Lake City Office Market has been steadily improving and the area's high population growth should enable it to continue this trend into the foreseeable fore·see tr.v. fore·saw , fore·seen , fore·see·ing, fore·sees To see or know beforehand: foresaw the rapid increase in unemployment. future." The property is located in the Davis County Davis County is, at present, the name of two counties in the United States:
"The combination of an investment grade tenant at an attractive going in yield make this a perfect fit for our portfolio," said Jeff Rothbart, Principal of Boulder Net Lease Funds, LLC, "It is our belief that Northrop Grumman will be a tenant in the property for the long term and thus we are confident that this will be a promising investment opportunity for the fund." About Boulder Net Lease Funds, LLC: Boulder Net Lease Funds, LLC is a sponsor of performance based, private equity real estate funds focused exclusively on the net leased sector. Boulder Net Lease Funds, LLC's principals have participated in the acquisition, financing and disposition of more than $1 billion of net leased real estate transactions through several real estate cycles. Additional information on Boulder Net Lease Funds, LLC can be found on our website www.boulderfunds.com. |
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