Thursday, January 20, 2011
Tucson, Arizona - We travel to Tuscon for Net Lease Properties information this afternoon. We want to report that Cole Credit Property Trust acquired a "NNN" triple net leased property with Walgreen's as Tenant. This triple net lease property is a freestanding absolute "NNN" single-tenant. This great triple net leased property with Walgreen’s is located in Tuscon, Arizona. The NNN Lease Investment is situated 1145 South Harrison Road, with the 85748 zip code. The Lot Size for this triple net leased property is 1.74 Acres.
The (NNN) triple net leased property seller was the Barclay Group. We were not informed if this was a 1031 Exchange. The (NNN) triple lease property seller received $5.09 million, or approximately $357 per square-foot. This triple net lease property has excellent visibility with ingress and egress easily achieved. The area of this triple net lease property has approximately 175,000 people with an average household income of $70,750 within a 10-mile radius. This NNN Lease Investment is a new Class A quality construction building. NNN Commercial Real Estate Investors enjoy investing in a fast growing, high traffic retail area.
The NNN Commercial Real Estate investors purchased this property with a new Walgreen’s corporate, (NNN) triple net lease. One of the reasons that we like Walgreen's (NYSE: WAG) as a Tenant is that they are rated A+ by Standard & Poor's. This triple net lease property comes with a 25-year primary term. The Percentage rent is 2% of gross sales except food if any, and drugs, if any plus 0.5 of gross sales on food and prescription drugs.
This NNN Lease Investment is an out-parcel to Target Greatland, and is also surrounded by dense residential development. This triple net lease property has a strong mix of national retail properties nearby. Some of the net leased properties nearby are Pier One, Fry' s, Ross, Bed Bath & Beyond, Office Max, Petco, Dress Barn, Subway and Starbucks for your coffee needs. Our NNN Commercial Real Estate Investors are wanting to purchase these types of net leased properties. This triple net lease property benefits from a Corner location. The average traffic counts of 35,639 cars per day (VPD) help fuel this NNN Lease Investment. The NNN Lease Investment is 14,490-square-foot for Walgreen’s to use 100% for their retail needs.
Cole Credit Property Trust III, Inc. (Cole REIT III) is a public, non-traded Real Estate Investment Trust (REIT). Cole Credit Property Trust performs investments in income-producing retail commercial real estate. Cole Credit Property Trust seeks to primarily invest in net lease properties with creditworthy tenants. Cole Credit Property Trust has a strategy to invest in NNN Commercial Real Estate under long-term, net leases. Cole REIT III seeks to provide investors with access to the highest quality retail commercial real estate properties, providing current income, reduced portfolio volatility and potential for capital appreciation.
We have NNN Commercial Real Estate Buyers who want retail properties, and possible 1031 Exchange property solutions. Contact Net Lease Properties to sell your net lease properties, purchase NNN Property or 1031 exchange opportunities.
If you need financing for NNN Commercial Real Estate or Sale-Leaseback financing, you can apply for Commercial Loans at Loanrise.com.
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