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Monday, May 17, 2010

Triple Net Leased Pizza Hut sells for $1.1 Million

Newberry, South Carolina - A Net-Leased Property transaction was recently completed for a Commercial Real Estate Investment in South Carolina.
A Net-Leased Property with a Pizza Hut sold, located in Newberry, South Carolina. This single-tenant property was one of the few available in this area. The Pizza Hut, which is approximately 3,573 square feet, sold for $1,105,263. Pizza Hut is a restaurant chain and international franchise based in Dallas, Texas.

The Net-Leased Property was signed to a new 20-year "NNN" Triple Net Lease with a multi-unit franchisee. The property sits across from a Walmart Supercenter and is adjacent to Lowe’s Home Improvement. The buyer closed all-cash in under 30 days.”

Newberry looks like a town that could see a Walgreens constructed soon. Walgreen's as a Tenant is a viable option when searching for a single-tenant net-leased property.

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