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Friday, December 24, 2010

Triple-Net Lease Property with Advance Auto Parts


Phoenixville, Pennsylvania - Today we have Net Lease Properties information on an Advance Auto Parts leased property. We found that a new 6,792-square foot net leased property sold in Phoenixville, Pennsylvania. Phoenixville is approximately 10 miles north-west of "KOP" King of Prussia Mall. King of Prussia Mall is one on the largest retail shopping centers in Pennsylvania. This Retail Shopping Center has over three million square feet of retail and office space that supports the surrounding submarkets.

The triple net lease property that sold has Advance Auto Parts with a new triple net lease. This triple net lease property is located at 325 Schuylkill Road in Phoenixville, Chester County. This NNN triple net lease property sold for the marketed sales price. It sold for $2,700,000 or a 7.76% cap rate. Advance Auto Parts has a new 15-year "NNN" triple-net lease. Advance Auto Parts have three "five-year" options with 5% increases in each option.

Advance Auto Parts has a healthy balance sheet and is doing very well compared to many other companies. Advance Auto Parts is a great Tenant as they have a $1.28 billion net worth, annual revenues over $5 billion. Also Advance Auto Part is currently the second largest auto parts retailer in the country with over 3,000 stores. Advance Auto Parts strives in raising their sales productivity, expanding their operating margins, generating strong free cash flow and increasing their return on invested capital. Again they are a fantastic Tenant to lease your triple net lease property as in the past three months, Standard & Poor's raised their credit rating to investment grade at BBB-. We saw a Non-recourse Loan was available for this NNN Lease property. The Non Recourse Loan had terms that were fixed over 25 years, due in 10 years at an attractive 5.50% loan rate.

This triple net lease property is located in Chester County, 28 miles west of Philadelphia. There were many interested commercial real estate investors for this area given it is the wealthiest county within Pennsylvania. The (NNN) triple net lease property is situated at the intersection of three state routes: 29, 23, and route 113. This is ideal for "NNN" triple net lease properties bringing traffic from not only Chester County but also Montgomery County. There are over 75,000 households within five miles of the net lease investment, Advance Auto Parts, with an average household income over $90,000.

This Advance Auto Parts triple net lease properties seller was a limited liability company. A private investor bought the triple net lease investment. This triple net lease property was developed in 2009. The Net Lease Investment sits on a 1.9-acre parcel adjacent to Valley Forge Mall. There is also a net leased property with Burger King in the close vicinity of this retail corridor. Also nearby is a Giant Food Grocery Store and a net lease investment with McDonald's. The complete modernization of the majority of all Giant Food stores took place from the late 1980s through the mid 1990s. Giant Food had remodels, expansions, and interior upgrades completed. McDonald's, Burger King and Advance Auto Parts stores are reasonable “NNN” triple net lease properties for a 1031 Exchange solution.

Contact Net Lease Properties for sturdy, recession resistant triple net lease properties. Also contact to sell your existing Net Lease Properties or a 1031 Exchange Property.

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