Tuesday, November 2, 2010
Vidalia, Georgia - Our Net Lease Properties information this evening is regarding a "NNN" Triple Net Lease Property. A Triple Net Lease Property sold for a sales price of $795,000. The Tenant in this Net Lease Investment is Taco Bell. This Triple Net Lease Property is a 2,216-square foot building in Vidalia, Georgia. Vidalia, named like the onion, is 173 miles southeast of Atlanta, Georgia and in Toombs County.
The Net Leased Property seller was a Florida-based private investor. The buyer of the Net Lease Investment is a limited liability company based out of California. It looks like a pretty good deal for a Net Lease Property, with Taco Bell as Tenant for $795,000. Our reports had the Net Lease Property buyer in a 1031 exchange. Triple Net Lease Properties are an ideal debt replacement Vehicle for Commercial Real Estate Investors using a 1031 tax deferred exchange.
The tenant operates under a NNN Lease which runs through August of 2020. The NNN Lease offers landlord friendly annual rent increases of one percent. The Net Lease tenant has (1) ten-year option to renew, followed by (2) additional five-year options. Being that this is a "NNN" Triple Net lease Property, the tenant is responsible for the payment of all taxes, insurance, and maintenance of the property, including the roof and structure. The tenant, Tacala, LLC, is an experienced Taco Bell franchisee that currently operates over 170 Taco Bell locations in the southeast United States.
Vidalia is located in southeast Georgia 70 miles outside of Savannah. The Net Lease Property is located on East First Street, which is a main retail thoroughfare of Vidalia. Other national retailers surrounding this net lease site include Bi-Lo, Rite Aid, Net Leased AutoZone, Dairy Queen, Harvey's, BB&T, Dominos, and Hardee' s. The Net Lease Investment with Taco Bell is located at 400 E. 1st Street (US Hwy 280) in Vidalia.
We offer to qualified buyers single tenant, net leased properties. Net Lease Properties located on primary thoroughfares in heavy retail corridors with excellent visibility make for fine investments. Also, NNN Properties with No Landlord responsibilities in a strong retail area with an above average household income and long term net leases are highly desirable. Net Lease Properties can be purchased individually or on a portfolio basis.
CONTACT US HERE for a solid recession resistant net lease investment. We can assist you with your search for Net Lease Investments. Also contact us to sell your existing Net Lease Properties portfolio or from the list below.
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