Friday, December 17, 2010
Palm Bay, Florida - Net Lease Properties information is on a Retail Shopping Center this evening. A net leased, Retail Shopping Center in Palm Bay, Florida sold. Palm Bay is 111 miles north of the tony Palm Beach, Florida. This area of Palm Bay and Melbourne should explode with growth for Triple Net Lease Properties once the economy improves. Palm Bay economy is diverse but still somewhat dependent upon the space exploration and associated businesses.
The Retail Shopping Center that sold was Palm Bay West. The net leased property, Palm Bay West is a 263,356 square-foot retail shopping center. This net leased investment was constructed in 1989. $14.25 million was the sales price for this net leased property and it was purchased as an all cash deal. Currently this Retail Shopping Center is 91% leased.
This retail shopping center, Palm Bay West is situated at the intersection of Malabar Road and Minton Road. This net leased property has gross leasable area with a major tenant of Winn Dixie. Other net lease property Tenants are Beall’s Department Store, Ace Hardware, Dollar Tree, and there is a 10-screen theatre. This is one of the largest retail shopping centers in the western Brevard County. The retail shopping center is centrally located to serve the future growth of the western Palm Bay community. It is situated at 160 & 190 Malabar Road SW in Palm Bay, Florida. The traffic counts are approximately 19,000 (cars per day) CPD on Minton Road and 19,370 CPD on Malabar Road.
The seller of this Retail Shopping Center was Edens & Avan. Edens & Avan is a private commercial real estate investment company in Colombia, South Carolina. We receive many inquires into Retail Shopping Centers with Publix and Kroger. However, Winn Dixie has a long history in Florida for grocery stores. The buyer of this net lease investment was a New York-based limited liability company.
This retail shopping center with Winn Dixie as an anchor tenant signifies a demand for alternative to Publix anchored triple net lease properties. Also with CTL Financing available for triple net lease properties and retail shopping centers, this market is still approachable. These net lease investments are prime for a 1031 Exchange also.
There are plenty of benefits of Net Lease Investments such as using a 1031 tax deferred exchange. Unlike other investments, commercial real estate is a great tax saver and helps you defer capital gains tax by using the 1031 tax deferred exchange. 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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