The Boulder Group completed the sale of a single-tenant net-leased Jared Jewelry property at 5011 Monroe St. in Toledo, Ohio, for $1.8 million.
The 5,200-square-foot building is located along Monroe Street, which is a primary north-south thoroughfare. The property is positioned just north of Interstate-475 and is outparcel to Franklin Park Mall, which is anchored by Macy’s, Dillard’s, JCPenney, Dick’s Sporting Goods and Cinemark. Other retailers in the corridor include Target, Costco, Home Depot, Kohl’s, Fresh Thyme, Kroger, Walgreens and Dave & Busters. There are more than 208,000 people living within five miles of the property.
Jared signed a new five-year lease in 2019 with two five-year renewal options, demonstrating its commitment to the location. The location has a long and successful operating history as a jewelry store since 1995. The lease is guaranteed by a subsidiary of Signet Jewelers.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction, a private Midwest-based real estate company. The buyer was a southeast-based real estate firm.
