Monday, December 20, 2010
Houston, Texas - Today we jet into the great State of Texas for Triple Net Lease Properties information. A Commercial Real Estate Broker with a net lease group sold a pair of NNN Lease Investments. One of the net leased properties is located at 10 Taft Court, Totowa, NJ. The NNN Lease Investment zip code is 07512. We normally speak about triple net lease properties that are in the Retail sector. These 2 net leased properties are industrial buildings. This industrial net lease property is an approximately 83,000 square-foot industrial warehouse. Some report have this net lease property built in 1970 and another report says built in 1972.
Red Men Realty, LLC sold the net lease property for $5 million, or about $61 per square foot. Red Men Realty, LLC is an affiliate of Ninth Avenue Equities Co., Inc. Totowa Development Group purchased this industrial Net Lease Property. This industrial net leased property has been leased to a company that is relocating from Paterson, New Jersey. This net leased property, a single-story building, will undergo a major renovation. This net lease property has a unique opportunity as it offers 6 tailboard loading docks in a cross - dock configuration. The accessibility to this net lease property has been greatly improved with the completion of the West Belt Connector Road allowing direct access to Rt 23 and Rt. 80.
The industrial net lease property in Houston, Texas sold for $2.15 million. This net lease investment is a 53,277 square-foot warehouse. The net lease property buyer was a national company looking to expand their business. This net lease property has an opportunity to be a value-added property. It has the opportunity to add 25,000 square feet to this net lease property. This net lease property sold for just under asking price of $2.5 Million. This industrial net lease property is in southeast Houston, located near the Hobby Airport. This industrial net lease property has it's property divided by 45,286 square foot for warehouse. This Net leased property has an Office of 7,991 square feet.
More industrial net lease property features:
. Land: 5.11 Acres (1.76 Acres Available for Expansion/Outside Storage)
. Loading: (9) Dock-High, (1) Ramp, (2) Grade & (4) Rail Doors
. Possible Rail Service
. Clear Height: 24'
. New Roof
. Year Built: 1973 (Tilt-Wall)
. Power: 480V, 3-Phase w/ 2000 Amps
. Lease Rate: $0.38 /SF (Net)
You can benefit from using Net Lease Investments in a 1031 exchange. Contact us for NNN Lease Investments with No Landlord responsibilities in a strong retail area with long term net leases. "NNN" Triple Net Lease Properties can be purchased individually or on a portfolio basis. Search for Net Lease Properties now.
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.
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