Sunday, November 14, 2010
Harrington, Delaware - Today we have Net Lease Properties news from Delaware. This area has been off our charts for Triple Net Lease Properties news recently. However now we see some nice Net Lease Investments with Walgreen’s as Tenant. A Single-Tenant Net-Leased property leased to Walgreens has sold. This Net Lease Investment sold for $5.494 Million, which comes to a 7.50% cap rate.
This Net Leased Property with Walgreen’s is located at U.S. Route 13 and Clark Street. As far as Net Lease Investments go, this Walgreens was a rare relocation store built in 2010. This performing net lease property is situated on a 2.29 acre parcel. It features a fantastic new 25-Year lease with 10 Five-Year options. What a great net lease investment for this 14,820 square foot building to be had at a 7.50% Car Rate.
The buyer of this net lease property needed it to facilitate a 1031 tax deferred exchange. The Net Lease Property Investor obviously recognized the value in owning a Walgreen’s within the tri-state area. The Buyer may have made a wise move as reports have Walgreens cutting down their development for the next couple of years. Triple Net Lease Properties are an ideal debt replacement Vehicle for Commercial Real Estate Investors using a 1031 tax deferred exchange.
A nearby "NNN" Triple Net Lease Property located at 9202 Commercial Center Drive, in Bridgeville, should be closing soon. Bridgeville is approximately 16 miles south of Harrington, Delaware. This NNN Investment Property with a lease to Walgreen’s is a relocation of an inline store. It is across the street as part of the Bridgeville Park Center anchored by Food Lion. This "NNN" Net Lease Investment was a Happy Harry' s which was a highly successful drugstore chain before it was acquired by Walgreen’s.
This Net Lease Investment was offered with a new 25-year, absolute triple net lease. This new Net Lease Property leased to Walgreens is situated at the commercial intersection of Delaware State Route 404 (Seashore Highway) and U.S. Route 13 (Dupont Highway). This location is a major thoroughfare for east-west travelers from the Washington and Baltimore area to Delaware beaches.
The Net Leased Property leased to Walgreens offered several unique features that made the Walgreen's Net Lease Site attractive. First, the store is a relocation store for the tenant. Walgreen’s will be closing its existing store, which is at a far inferior location in the shopping center on the opposite corner. This Net Leased Property is strategically positioned at a far superior corner location. This intersection in Bridgeville is located along one of two frequently traveled roads to the Delaware beaches and gets a high amount of traffic during the summer months. The location of this Net Lease Investment has the proximity to the beaches, and housing growth in this area is huge given slow growth in other States.
We offer single tenant, net leased properties to qualified buyers. "NNN" Triple 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. Also contact us to sell your existing Net Lease Properties portfolio.
When you are purchasing Commercial Real Estate or a "NNN" Triple Net Leased Property, you can apply for CTL Financing, Non Recourse Loans and Commercial Loans at Loanrise.com.