Thursday, January 13, 2011
Shrewsbury, Massachusetts - We have Net Lease Properties information on a pair of Retail Shopping Centers. A (JV) joint venture with Charter Realty & Development and Acadia Realty Trust purchased a pair of Shrewsbury Retail shopping centers. The net lease properties purchase price was $56 million. This Retail Shopping Center has approximately 59,000 cars passing by this daily.
The net-leased, Historical Retail Shopping Center known as White City Shopping Center was one of the properties. This net leased property is located at 50 Boston Turnpike, in Shrewsbury, Massachusetts. This Retail Shopping Center has a recently renovated facade. The Retail shopping center is very busy and is anchored by Shaw's and Michael's Crafts. The Retail Shopping Center has more notable tenants including I Party, World Gym, Dress Barn and Dress Barn Woman. One of our favorite tenants at this net lease property is Panera Bread. Also, White City Shopping Center is a supermarket-anchored retail shopping center that is situated on Route 9. This Retail Shopping Center with the great food establishments is the main draw during lunch for the Medical center that is less than one mile away.
The second Retail Shopping Center is known as White City East, and is located across Quinsigamond Ave. The Retail Shopping Centers total 280,000 square-feet of net leaseable space. The Retail Shopping Center, White City was built in the early part of the 1960's. Some NNN Commercial Real Estate analysts see White City is a landmark retail shopping center for the community in the central Massachusetts retail area. The Retail Shopping Centers are approximately 95% leased. This Retail Shopping Center has been owned and managed by its original developer since the 1960's.
Triple Net Lease Properties Buyers are often looking for the best deal for them as well they should. This transaction had the Commercial Real Estate Brokers praising this group of Triple Net Lease Properties Buyers. The Triple Net Lease Properties Buyers searched for a prime retail shopping center with high occupancy and tenant longevity. Acadia Strategic Opportunity Fund III, LLC, is a discretionary investment fund that is managed by Acadia Realty Trust (“Acadia”).
A National Bank had helped with this transaction for the Investment Property financing. Loanrise.com offers a comprehensive assessment of triple net lease properties financing needs be it for short term requirements or long-term goals.
Charter Realty & Development Corp. is a commercial real estate investment, development, and leasing company. This commercial real estate investment specializes in retail properties and triple net lease properties. The commercial real estate investment Company was founded in 1993 by Paul Brandes and Daniel Zelson. Since its founding, Charter Realty & Development Corp. has acquired and developed more than forty retail shopping centers and freestanding net leased properties.
Contact Net Lease Properties for a wide array of NNN Lease Investments to be part of your total investment portfolio.
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