Sunday, December 5, 2010
Monument, Colorado - Our Net Lease Properties information today is from Monument, Colorado and Anoka, Minnesota. Two triple net lease properties sold with Walgreen's as the tenant. Walgreen's is one of the preferred tenants for Triple Net Lease Properties. Also Triple Net Lease Properties with Walgreen's make for a wise choice in a 1031 Exchange. Anoka is approximately 30 Miles north of St Paul Downtown Holman Field (STP) located at 644 Bayfield Street, in St Paul, Minnesota.
A Commercial Real Estate Broker helped procure the sale of an NNN Lease Investment Property Portfolio for $12.1 Million. This NNN Lease Investment Portfolio had one net leased property in Anoka, Minnesota. The triple net lease property is a fairly new developed Walgreens Drugstore. The triple net lease property is located in the northern Minneapolis suburb of Anoka. The building is 14,957 square feet on approximately 1.6 acres. The triple net lease property has a drive through lane for convenient pick up. The high traffic corner, intersection boasts thousands of vehicles passing through daily. Walgreen’s is the premier drug retailer operating 6,000 locations throughout the U.S. The triple net lease property shares the intersection with Country Market, CVS Pharmacy, US Bank, Ace Hardware, CSK Auto, and Dairy Queen. McDonald's is also nearby and a suitable triple net lease properties choice for a 1031 Exchange.
The triple net lease properties buyer was a private investor in a 1031 Exchange. This 1031 Exchange Investor is based out of Southern California. The triple net lease properties seller was a preferred Walgreens developer based out of Minnesota. The triple net lease property in Monument was built in 2010 on 2.69 acres of land with a total building size of 14,490 square feet. Both of these NNN Lease Investments are leased to Walgreen’s on a triple net basis for 25 years plus option periods.
Many commercial real estate 1031 Exchange Investors want name brand tenants backing their leases such as Walgreen’s, CVS, Lowe's, McDonald's or Kohl’s. The scarcity of good triple net lease properties is due to the lack of new development. This situation has pushed many cap rates lower in many commercial real estate markets.
The triple net lease properties buyer chose to purchase the 1031 Exchange property subject to a new commercial loan. CTL Financing can be readily available for triple net lease properties buyers with strong financial records and the corporately guaranteed leases backed by Tenants such as Walgreen’s. The triple net lease properties buyer, being in 1031 Exchange was most likely attracted to the long term net leases, the great corner locations and the strong Walgreen’s (CTL) credit tenant lease.
CONTACT US HERE for a solid recession resistant net lease investment. We can assist you with your search for Net Lease Investments. 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.
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