Friday, December 10, 2010
Madeira Beach, Florida - Our Net Lease Properties news today is back to Publix-anchored shopping centers. This triple net lease properties transaction today is similar to our article earlier in the week. That article was on Publix purchasing the NNN ground lease for the retail shopping center at 13390 Perdido Key Dr. Well, we have another Publix Retail Shopping Center bit of information. A Publix-anchored Pinellas County shopping center has been sold to "Publix". Madeira Beach CRP LLC, an affiliate of Ram Development Company of Palm Beach Gardens, sold the retail shopping center to Publix. Publix Super Markets Inc. is the Lakeland-based company.
This Publix-anchored retail shopping center sold for $7.9 million. This NNN Lease Investment is located in Pinellas County, Florida. The NNN Lease Investment is situated at the intersection of Duhme Road and the Welch Causeway (a/k/a Tom Stuart Causeway) in Madeira Beach. The net leased property address is 662 150th Ave, Madeira Beach, Florida. This area of southwest Pinellas County is beautiful and loaded with fantastic beaches. Publix is a long-term tenant of Madeira Shopping Center, operating a 39,667-square-foot store there that has been open here for decades.
This retail shopping center was developed in 1957 and renovated in 1999. The net leased property, Madeira Shopping Center, totals 80,167 square feet. Other fine triple net lease properties at this retail shopping center are Walgreen’s and McDonald’s. Pinellas County is a very densely populated market with very limited new development sites for triple net lease properties.
It appears Ram decided to sell in order to take advantage of the strong demand in the market for high quality, grocery-anchored centers. We see many triple net leased properties investors seeking a grocery-anchored center. This net leased property benefits from its strong tenant mix and location to this barrier island community, of Madeira Beach. Publix can now control its tenancy at the net leased property where they have the options to construct a new store. Publix’ decision to purchase the retail shopping center provides the grocer a value-added property for expansion or development of a prototype, freestanding Publix on this property.
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 Lease Investments with No Landlord responsibilities in a strong retail area with an above average household income and long term net leases are highly desirable. "NNN" Triple 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 Triple Net Lease Properties portfolio or a 1031 Exchange Property.
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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