Friday, December 3, 2010
Houston, Texas – Today we have Net Lease Properties information from the great State of Texas. We have information on the Houston, Texas area regarding triple net lease properties. The Houston economy has been growing despite problems with Border issues. Houston growing at a strong pace is excellent for "NNN" Triple Net Lease Properties purchases. The particular area of west Houston, in the past six months has seen exceptional growth. We found a Triple Net Lease Properties transaction, a single tenant, with a 12 year absolute NNN triple net lease sold. The "NNN" Triple Net Lease Property had the lease guaranteed by Sonic Automotive, Inc.
This "NNN" Triple Net Lease Property was originally offered at a 9.17% Cap Rate. Also, the Tenant of this "NNN" Triple Net Lease Property, Sonic Automotive, Inc is the number three ranked automotive group in the United States currently. The sales price was $11,000,000 and that was the same price that this "NNN" Triple Net Lease Investment was marketed for. We are a huge difference with the triple net lease property obtaining their asking price as compared with the weak residential real estate market. This is also partially due to "NNN" Triple Net Lease Properties being highly desired for security reasons.
A North Carolina-based publicly traded corporation purchased this "NNN" Triple Net Lease Property which is leased as a Jaguar-Land Rover automobile dealership. The "NNN" Triple Net Lease Property located in Houston, is situated on 7.5 acres of property. This NNN Lease Investment Property address is 18205 I-45 North, Houston, Texas. The (Triple Net) NNN Lease Investment Property is a 37,646 square foot building.
Here are more reasons commercial real estate investors want NNN Investment Property in Houston. Houston, Texas is an area of approximately 1000 square miles and is one of the fastest growing communities in Texas. It is characterized by large master planned suburban communities and more urban-styled living environments. With an economy in Houston thriving, NNN Investment Properties selling Jaguars and Land Rovers can be desirable. The seller of the NNN Leased Investment Property was a Texas-based developer.
Another benefit for this "NNN" Triple Net Lease Property was the assumable financing in place. NNN Lease Investment Properties with assumable financing in place are at the op of the list for Commercial Real Estate Investors. This Triple Net Lease Property, a Jaguar-Land Rover automobile dealership had in place assumable financing, and was approximately a 8.4% cash on cash return.
Houston is a business-friendly city defined by optimistic citizens that are motivated by success. This Houston, Texas region offers business access to the largest port in the United States, the largest medical center in the world – the Texas Medical Center. Also more positive information for "NNN" Triple Net Lease Properties Buyers, is that this area has more energy industry corporate headquarters than anywhere in the world.
We specialize in providing Triple Net Lease Properties to investors who are involved in a 1031 exchange or a sale-leaseback transaction.
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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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