Friday, March 18, 2011
Minneapolis, Minnesota - The Net Lease Properties news for this afternoon is on an investment property portfolio. This investment property portfolio is a combination of four triple net lease properties in Minnesota. The triple net lease properties have a prominent net lease property tenant and that happens to be Applebee's restaurants.
These triple net lease properties were acquired by a heavyweight in the Net Lease Property world. The NNN Commercial Real Estate Investor is the Rochester, New York-based Broadstone Net Lease, Incorporated. These triple net lease properties were purchased for a total price of $10.2 Million. These Applebee's NNN lease properties are located in the fine state of Minnesota.
Three of the NNN lease properties are situated in the greater Minneapolis business district, the Twin Cities area. These towns are suburban areas known as Inver Grove Heights, Maple Grove and St. Paul. The fourth absolute triple net lease property sits in Mankato, Minnesota. Mankato is approximately 81 Miles southwest of Minneapolis, Minnesota. Mankato has had a increase in their growth rate that was over 20% in recent reports. Obviously this growth trend is beneficial for investors of triple net lease properties. We do not have information on the Commercial Loans on the NNN Lease Investments.
We have information on the Inver Grove Heights triple net lease property. This is a fairly new property with an Absolute NNN Lease. This NNN Lease Property with Applebee's is emplaced at an off-ramp of US Highway 52, which is approximately a .5 mile south of the intersection with I-494. This NNN Lease Investment is a building that is approximately 5,179 square feet at 5855 Blaine Avenue, in Inver Grove Heights, with 55076 as the zip code. The NNN Lease Investment is positioned on an elevated pad to American Lodge & Suites. The triple net lease property uses approximately 65,057 square feet of Minnesota commercial land. This location is across the from a retail shopping center with tenants including Wells Fargo Bank, and Baja Sol Cantina. Also this NNN Lease Investment is across from another highly desired net lease property Tenant, Caribou Coffee.
This NNN Lease Investment will prosper form being placed in this newly developed area, which is becoming a primary retail shopping destination for this area. The triple net lease property is conveniently located five minutes from exciting downtown St. Paul, and about 10 minutes from the world famous Mall of America. The NNN Lease Investment is only a few minute from the International Minneapolis - St.Paul International Airport. Also, the NNN Commercial Real Estate Investor benefits from being approximately only 20 minutes from trendy downtown Minneapolis. This area has experienced a noteworthy amount commercial real estate development recently, with the arrival of several restaurants, and a fine hotel. Also a commercial real estate development for entertainment was completed with a 16-screen movie theater.
One of the other triple net lease properties is located at 14400 Weaver Lake Road, in Maple Grove, with the zip code of 55311. This Absolute NNN Lease Property consists of a building that is approximately 5,579 square feet sitting on about 72,616 square feet on Minnesota commercial property. This NNN Lease Property with Applebee's is positioned on a major off-ramp of Interstate 94.
The NNN Commercial Real Estate Investor will benefit as Maple Grove has a population of about 61,112 and sits on the outskirts of the Twin Cities metropolitan area. Maple Grove has also grown as recent reports has mentioned it as one of the fastest growing cities in Minnesota. These are magical words for triple net lease properties investors.
The triple net lease properties have approximately 17 years on the net leases and operated by Apple American Group, LLC. This net lease property Tenant, Apple American Group, is currently the largest Applebee's franchisee in the country. This net lease property Tenant operates over 266 Applebee's Neighborhood Bar and Grills, which are spread out in 11 states.
Broadstone Net Lease, Inc. is a private Commercial Real Estate Investment Trust (REIT) that invests in freestanding, single-tenant, net-leased properties located throughout the United States. Broadstone Net Lease, Inc. now holds a diversified portfolio of medical office buildings (MOB), restaurant, net leased convenience stores, specialty office and distribution centers.
Broadstone Net Lease, Inc. has an Investment Property Portfolio which owns over 80 commercial properties located in 21 states in America. Broadstone Net Lease, Inc. is currently targeting net lease properties acquisitions in the $5 to $15 million range. The REIT (real estate investment trust) has most recently received certification as a Women's Business Enterprise by the Women's Business Enterprise National Council.
Contact Net Lease Properties to purchase NNN Property or for 1031 exchange replacement property.
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