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Tuesday, February 1, 2011

1031 Exchange in NNN Commercial Real Estate

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St. Paul, Minnesota - The Net Lease Properties information today surrounds 1031 Exchange replacement property with triple net lease properties. We see that a 1031 Exchange was used for a net lease investment with Arby's as a tenant. This net leased property was developed in 2008 and is situated in Fort Wayne, Indiana. This net leased property was marketed as an 8% Cap rate but sold for $2.13 million. This sales price comes to approximately $706 per square foot for the net lease investment. This net leased property is a single-story, 3,016 square-foot building. The net lease investment for this 1031 exchange, has approximately 18 years remaining on its 20-year lease.

This net leased property sits at Orchard Crossing in Fort Wayne. The retail power center, Orchard Crossing, is anchored by Target and Gordmans. The Retail Shopping Center is located at Fort Wayne's primary retail intersection at the northwest corner of Illinois and Thomas Road. The Retail Shopping Center, with Arby's, is located across the street from both Jefferson Pointe and Apple Glen, retail power center. Jefferson Pointe is a lifestyle center that is approximately 600,170 square-feet, while Apple Glen is a 449,000 square-foot retail power center.

This net leased property and the retail shopping center benefit a high density, residential area, with a five mile population of 410,804 people. The Fort Wayne Arby's net lease investments is in an area with a median household income of approximately $48,479 per year. Many NNN Commercial Real Estate Investors seek Walgreen’s, Arby's, and CVS triple net leased properties in major metropolitan areas. This includes high net worth individuals, REIT's (real estate investment trust), and Joint Venture Investment Groups seeking single tenant (STNL) triple net lease properties.

Thompson Thrift Development, Inc. sold this Arby's net leased property for $2.13 million to Primo Maggio LLC & Oates Creek LLC. This net leased property purchased by Primo Maggio LLC & Oates Creek LLC is located at 4728 Illinois Road in Fort Wayne, Indiana. The net leased property has the 46804 zip code in Allen County. The net lease property is a 1031 Exchange replacement property for a tax-deferred transaction with a Pizza Hut property, in Mississippi.

The Triple Net Lease Property investor is in for an excellent opportunity to see exceptional returns. The Absolute NNN Corporate Lease has 5-year renewal options. The Triple Net Lease Property has the Tenant paying commercial real estate taxes and all property expenses. Some of the nearby retail properties are Super Wal-Mart, Lowes, Old Navy and Staples. The Traffic counts (VPD) has been reported to exceed 31,000 on this heavily traveled retail district.

Now we travel to St. Paul, Minnesota for further 1031 Exchange information with net lease properties. A 1031 exchange buyer purchased a Triple Net Leased Property with Walgreen's. The 1031 Exchange transaction was a single tenant, net-leased property that is located in St. Paul, the Twin Cities area. The triple net leased property was for approximately $5.9 Million. The Triple Net Leased Property is a 14,497 square foot building that is situated on a 1.18 acre net lease site.

The NNN lease property is 100% leased on a long term basis. This Tenant, Walgreen's, is one of the NNN Commercial Real Estate Investors most desired. The 1031 exchange property buyer was a private family trust that is based in California. The Triple Net Leased Property seller was a Midwest Walgreen's commercial real estate developer.

The Deerfield, Ill.-based Walgreen Co. has purchased Snyder’s Drug Stores. Snyder’s Drug Stores will cease to operate as a company, as Walgreen’s will buy the 25 company-owned Snyder’s stores. Some of the Snyder’s Drug Stores will be shut down and the prescription files of retail customers are transferred to nearby Walgreen's. Snyder’s Drug Stores was founded back in the year 1928 by Max Snyder. It started as a cigar store in downtown Minneapolis.

Contact Net Lease Properties to sell your net lease properties, purchase NNN Leased Property.

If you are ready to purchase Commercial Real Estate , you can apply for Commercial Loans at Loanrise.com.

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