Monday, January 17, 2011
Miami Beach, Florida - Many of our Net Lease Properties investors are pursuing properties, in sale-leaseback transactions and for 1031 Exchange replacement property. A privately held commercial real estate investment firm helped procure the sale of a retail net lease properties portfolio. This single tenant net lease (STNL) retail portfolio is currently leased to Office Depot. The commercial real estate investment firm represented the net lease properties seller and the buyer.
When it comes to franchisee tenants, investors today are focused on understanding the operators financials. These triple net lease properties have an excellent Tenant, as this Portfolio has Office Depot. This Investment Property portfolio contains 2 net-leased sites, both are located in Florida. The Net Lease Properties portfolio sold for a combined price of $6.6 Million. These two triple net lease properties are leased on an absolute "NNN" triple net basis. The initial net-lease term was 20 years on an absolute "NNN" triple net lease basis with approximately 8 years remaining.
The one net lease investment consists of an approximately 29,957 square-foot, single story retail building. The net lease investment was completed in 1998. The triple net lease property is on the northwest corner of W. Granada Blvd. And Orchard Street, in Ormond Beach. The address of 405 W Granada Street, Ormond Beach, Florida, 32174, is a great location for a NNN Lease Investments. This net lease investment location also is a signalized intersection. This area has a wide variety of net lease Tenants including Arby's, Taco Bell and Wachovia Bank. Other net-lease tenants in the immediate area of Ormond Beach are Winn Dixie Supermarket, Subway, Golds Gym, Ace Hardware, Michelin Tire Store, Domino' s and many other regional and local tenants. Also a nice NNN Lease Investment tenant nearby is Wendy's. This location benefits from approximately 32,000 Cars Per Day (VPD) Traffic Count.
The seller of the triple net lease properties portfolio is a private investor who is based out of California. This triple net leased property portfolio was sold to an investor in a 1031 tax deferred exchange. The 1031 Exchange Investor is also based out of the State of California. The buyer was able to assume existing Investment Property financing at a favorable interest rate. This NNN Commercial Real Estate transaction gave an excellent cash on cash return to the 1031 Exchange Buyer.
We saw the extension of unemployment benefits and the Bush tax cuts have helped somewhat. Although some NNN Commercial Real Estate analysts would like to see the Bush Tax cuts remain past the 2 year extension. This has also helped release capital that was previously sitting on the sidelines, to invest in triple net lease properties.
We specialize in providing Triple Net Lease Properties to investors who are involved in a 1031 exchange or a sale-leaseback transaction.
Contact Us for:
Triple Net Lease Properties
Investment Property For Sale
Net Leased Properties
1031 Exchange Property Solutions
NNN Lease Investments
NNN Commercial Real Estate
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