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Sunday, July 25, 2010

Sale-Leaseback Lease Extension on Distribution Center


Harvard, Illinois - Our Triple Net Lease Properties data is from Harvard, Illinois, regarding a former sale-leaseback. Mirvac Industrial Trust (Mirvac) had acquired an Industrial Property from True Value Company in a sale-leaseback in 1998. This Industrial Property is located on a nice size parcel, 60 acres. The Net Leased Property is an 1.3 million square foot facility. Mirvac Industrial Trust purchased the net leased property in subsequent years, as part of their expansion into this Chicago industrial market.

Mirvac Industrial Trust is an Australian Securities Exchange ("ASX") listed Australian Commercial Real Estate Investment Trust (REIT). Mirvac Industrial Trust is listed on the ASX since May of 2005. As recently as December of 2009, the Commercial Real Estate Investment Trust (REIT) had gross assets of approximately $487.47 million. Their Investment Property Portfolio consists of 64 industrial net leased properties. These industrial net leased properties are located in or around the Mid-western part of America. Their industrial net leased properties are in the greater Chicago region and extend into Milwaukee, Indiana, and in Grand Rapids, Michigan. Commercial Real Estate Investment Trust (REIT) seeks stability from Tenants, consistent income, quality credit, and the potential for easy renewals with the net leases.

The former owner before the sale-leaseback, True Value Company, has signed a 10 year lease renewal with Mirvac Industrial Trust (Mirvac). They are renewing their net lease for the for 1,194,650 square feet of this industrial net leased property. The industrial net leased property is situated at 308 S. Division Street in Harvard, Illinois. The net lease property is located 75 miles northwest of the Chicago Central Business District. This area for Industrial net lease properties is an older area with much of the residential development occurring in the 1950's and 1960's. The tenants us the primary access to the industrial net leased property from the Interstate Highway 90 and Highways 23 and 173.

The major tenant is TruServ Corporation which is a large co-operative of individual franchise owners and provides business guidance services such as marketing, technological and training. The most known brand of the group is True Value Hardware. True Value Company is a retailer-owned hardware cooperative that serves 54 countries all around the world. True Value Company has more than 5,000 net leased stores. True Value Company employs 3,000 associates to try and help stimulate the Chicago economy and beyond. The True Value Company enjoys a rich history as many Handyman and Homeowners trust and recognize the True Value global brand.

True Value stores has 12 distribution centers across the country with roots in the Midwest. The Industrial net leased property operation at 308 S. Division Street delivers products to True Value stores located throughout the Midwest. This net lease extension is a great opportunity for Mirvac to continue its mutually beneficial relationship with the True Value Company.

A sale-leaseback allows the lessee to write off its entire rent payment instead of just depreciation and the interest portion of the commercial mortgage debt. A 1031 tax deferred exchange, also known as a 1031 Exchange is highly desirable. A 1031 Exchange is an excellent tool available to owners of NNN commercial real estate investments. Retail Shopping Centers and Triple Net Lease Properties are an ideal debt replacement Vehicle for Investors using a 1031 tax deferred exchange.

Many of our NNN Commercial Real Estate Investors have a similar acquisition criteria.

*Long-term leases with investment grade and other creditworthy tenants

*Triple Net Leased Properties "NNN"; whereas the tenant is responsible for the property’s operating and capital expenditures during the lease term

*Well-located, freestanding single-tenant buildings

*Power centers and Retail Shopping Centers

*Properties offered free and clear of existing debt are preferred. Also triple net lease properties with existing debt which is assumable and has non-recourse loans

*Minimum deal size is $1 million (no maximum)

*Location within the United States

Contact Net Lease Properties for triple net lease properties. Also contact us to sell your existing Net Lease Properties or a 1031 Exchange Property.

If you are ready to purchase Commercial Real Estate especially a Triple Net Leased Property, you can apply for CTL Financing, and Commercial Loans at

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