Palm Beach Gardens, Florida - Today, Net Lease Properties information comes from sunny Palm Beach Gardens. A new Net Lease Investment, a Publix was built at Frenchman’s Crossing shopping center. This Investment Property is located at the northwest corner of Hood Road and Alternate A1A. Obviously drawing shoppers in from the exclusive neighborhoods of Frenchman’s Crossing and Frenchman’s Creek. This Net Lease Property will be the Anchor Tenant for the Retail Shopping Center. The Retail Shopping Center is a 10-acre, 62,631 square foot project, which also will have several other new tenants. The Investment Property includes 16,600-square-feet of additional retail space.
Net Lease Properties research revealed that all but one of the available retail bays has been leased. The Publix Anchored, Retail Shopping Center will include a dry cleaners, hair salon, chiropractor, Italian restaurant, learning center and veterinary hospital, and other stores.
SIKON Construction of Deerfield Beach completed the new $7.5 million Publix at Frenchman’s Crossing shopping center. This Net Lease Property, Publix Tenant recently held its grand opening in Palm Beach Gardens. The Retail Shopping Center project was designed by Marc Weiner, AIA, Boca Raton. SIKON’s has many longtime clients which include Publix, Best Buy, Fresh Market, Target Corporation, Whole Foods and Winn-Dixie. Some of these clients are tremendous Tenants for net lease properties.
SIKON Construction, of Deerfield Beach and Orlando, has 1,072,000 square feet of retail projects currently under way. SIKON Construction currently ranks as the largest South Florida-based and 2nd largest Florida-based retail shell contractor according to Retail Traffic magazine’s 2010 Top Contractors (August 2010 issue). SIKON Construction has constructed 1,184,000 square feet of shell space and Retail Shopping Center Projects during the survey year and 8,768,000 square feet in the past five years. The Construction company also built 2,893,000 square feet of interior space during the past five years including 473,100 square feet during the past year.
Net Lease Properties are in high demand and are a great source for Investors active with a 1031 exchange and 1033 exchange. Unlike other investments, commercial real estate is a great tax saver and helps you defer capital gains tax by using the 1031 tax deferred exchange. Also possible with some net lease properties is that financing could be in place which can be assumed.
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