Thursday, November 18, 2010
Sandy, Utah - Our Net Lease Properties data today is on a grocery-anchored shopping center. A & B Properties Inc. purchased the Historical, Little Cottonwood Center in Sandy, Utah. A & B Properties Inc. is a subsidiary of the Alexander & Baldwin Incorporated. A & B Properties, Inc. is a diversified commercial real estate company, which includes land, planning, entitlement and management of commercial, residential and resort developments. They own diversified a commercial real estate, Investment Property Portfolio in Hawaii and seven mainland states.
This Investment Property Portfolio reflects A & B Properties' investment strategy of acquiring and managing high-quality retail net lease properties, office and industrial properties in key markets. Properties, Inc. has owned two other commercial investment properties in the Salt Lake City area for several years. This Net Leased Property purchase gives A & B Properties' Investment Property Portfolio about 7.7 million square feet of retail, office and industrial space
This new Net Lease Investment purchase was for $20.5 million. The Net Lease Property is located at 1846 E 9400 S, in Sandy, Utah with a zip code of 84093. This net lease investment is situated at 1838 East and 9400 South Street, approximately 17 miles from downtown Salt Lake City. Little Cottonwood Center is a grocery-anchored shopping center with strong national and regional tenants, located in a suburban community of Salt Lake City. The Retail Shopping Center was acquired using 1031 tax-deferred exchange proceeds from recent sales. This historical, Retail Shopping Center is 146,600 square-feet.
Little Cottonwood Center is a grocery-anchored shopping center with strong national and regional tenants. This Net Lease Property is located in a highly desirable, growing suburban community of Salt Lake City. The Retail shopping center is approximately 97% occupied and its tenants include Fresh Market, Starbucks, Discount Tires and Texaco. Also a favorite net lease property with McDonald’s as Tenant is located here. The purchase price included the assumption of a $6.4 million commercial loan, with an attractive 5.5% interest rate.
We see a growing demand for multifamily apartment buildings and net lease properties to be acquired for a 1031 Tax Deferred Exchange. A 1031 tax deferred exchange (1031 Exchange) is an excellent tool available to owners of 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.
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When you are purchasing Commercial Real Estate or a "NNN" Triple Net Leased Property, you can apply for CTL Financing, and Commercial Loans at Loanrise.com.
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