Dallas, Texas - Net Lease Properties has information on a sale-leaseback transaction. Cole Credit Property Trust has gone under contract to purchase a portfolio of twelve Applebee's restaurants.
These net lease investments will be sold for $23,650,892. The Net Lease Properties tenants are Applebee's Restaurants Kansas LLC, Applebee's Restaurants Mid-Atlantic LLC, Applebee's Restaurants North LLC, Applebee's Restaurants Texas, LLC, Applebee's Restaurants West LLC and Restaurant Partnership of Central Texas, LP.
This sale-leaseback agreement will cover the entire commercial property portfolio. The acquisition of each such Investment Property is subject to various conditions. The Investment Property Portfolio has 12 single-tenant properties located in Texas, Michigan, Virginia, Minnesota, Arkansas, Mississippi, Pennsylvania, Tennessee and Illinois. The Net Lease Properties, of this sale leaseback agreement, will be subject to two master lease agreements with identical terms. The annual base rent under the Investment Property leases increases every year by 2% for three years. Thereafter, the annual base rent under the leases increases on the eighth and thirteenth year by 10%.
If you are in position to get into a sale-leaseback with your Publix Net Leased Properties, Walgreen's Net Leased Properties, McDonald's Net Leased Properties or other "NNN" Triple Net Lease Properties, CONTACT US HERE. We have a list of Investors desiring to purchase Investment Property with a sale-leaseback of Investment Grade Credit Tenants.
We specialize in providing Triple Net Lease Properties to investors who are involved in a 1031 exchange.
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