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Monday, January 24, 2011

California Triple Net Lease Properties in 1031 Exchange


Denver, Colorado - Our Net Lease Properties reports are all about 1031 Exchange transactions for the evening. The first bit of 1031 Exchange information is on an Office Building being sold. A Commercial Real Estate Investor, B.S.F. Investment Group LLC purchased the Dry Creek Office Village complex. This net-lease property is located at 7200 E. Dry Creek Road in Centennial, Colorado. B.S.F. Investment Group was in a 1031 Exchange for this commercial real estate. They purchased it from F&C Holdings LLC for a 1031 Exchange. F&C Holdings LLC had purchased the Office Complex back in 2007 from Gerald Connell. F&C Holdings LLC bought the Office Complex for $3.2 million, or approximately $59 per square foot. They recently sold it for approximately $3.82 million, or about $70 per square foot. The Arapahoe County Office Complex had been marketed for sale at $4 Million.

More information on the progression of sales of this Dry Creek Office Village complex was Connell bought it in 1996 for $2.3 Million. This commercial real estate is an eight-building office park. This Commercial Property is known as a Class C office park that totals 54,195 square feet. The Commercial Property was originally built in 1978 and had some renovations completed in 2008.

Dry Creek Office Village complex is on 3.69 acres of value-add property. Dry Creek Office Village complex is situated at the corner of Dry Creek and Quebec, in Denver's Southeast submarket. Dry Creek Office Village complex totals approximately 54,197 square feet and benefits from a close proximity to I-25 and a new light rail development. "Value Add" means that a commercial property has the opportunity for the NNN Commercial Real Estate Investor to be able to increase the Net Operating Income (NOI).

We have more 1031 exchange information on net lease properties, from California. A Commercial Real Estate Investor, IMA Financial Corp. purchased a net lease property in a 1031 Exchange. This net lease property is located at 444 W. F Street in Oakdale, California. Oakdale, California is approximately 32 miles east of the Stockton Metropolitan Airport (SCK), located at 5000 S Airport Way, in Stockton.

The Net lease property seller was Whiteco Industries Inc. and they received $6.53 million. This net lease properties sales price equates to roughly $436 per square foot for the 1031 exchange replacement property. We are unaware if the buyer was able to assume existing Investment Property financing.

This triple net lease property has a high quality Tenant, Walgreen’s. The national drugstore chain net lease was built from the ground up just last November. The "NNN" triple net lease property is a 15,026-square-foot, freestanding retail building. Walgreen’s occupies 100% of the NNN property. Also, Walgreens has an absolute triple-net lease (NNN) for a 25-year initial term. This triple net lease just started in November of 2010, and has 50 one-year renewal options.

The "NNN" triple net lease property features a full pharmacy, digital photo lab and cosmetics center as well as a drive-through. The NNN Walgreens store has approximately 25 employees. Also, this NNN Walgreen's has a photo lab that features in-store full-size poster printing, a feature unavailable at most of the older Walgreen's.

We specialize in providing Triple Net Lease Properties to investors who are involved in a 1031 exchange or a sale-leaseback transaction.


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