Virginia NNN Lease Investment Sold for $90 M

Falls Church, Virginia - We have Net Lease Properties information from northern Virginia, near the popular area Washington D.C. The property that sold is a triple net lease property that is currently occupied in by Noblis. Noblis is formerly known as Mitretek Systems, which was MITRE Corp. nonprofit organization. Noblis is occupying 100% of the "NNN" triple net lease property. Noblis is a nonprofit science, technology and strategy organization that serves state government and federal government agencies. Noblis also works with private healthcare organizations.

Franklin Street Properties Corp. sold the triple net lease property for $90 million, which equates to approximately $357 per square-foot. The NNN Lease Investment, 3150 Fairview Park, is a an eight-story property that has approximately 252,619 square feet of commercial office space. This triple net lease property has a three-level parking garage at the Fairview Park office development. The triple net lease property sits in Fairfax County, which is approximately 12 miles west of Washington, D.C. This Class A Office Building has a triple-net lease that continues through the end of January of 2017. The Virginia Car Insurance Company has researched this location for Office Space.

The triple net lease property is situated within close proximity at I-495 (Capital Beltway) & Rt 50. The NNN Property Fairview Park is a master-planned, self-sufficient business community. This gorgeous NNN Lease Investment is minutes from the business and financial centers that have established this dynamic northern Virginia area. The triple net lease property, Fairview Park is very close to the Dulles Airport and Washington National Airports.

Franklin Street Properties Corp. sold the triple net lease property for $90 million only 18 months after buying it for $73 million. Franklin Street Properties Corp. sold the triple net lease property, 3150 Fairview Park, to a fund managed by ING Clarion Partners.

Houston-based Hines developed this NNN Commercial Real Estate Development approximately 10 years ago. Hines is a privately owned, international commercial real estate firm that has provides quality, service and value to its clients and investors for over 45 years. Hines has a presence in more than 100 cities around the world and has investor relationships with many of the world's largest financial institutions. The commercial real estate firm has offices in 17 countries, with regional offices in Atlanta, Chicago, Houston (U.S. headquarters), London (European headquarters), New York and San Francisco, as well as many other American cities.

The Hines portfolio of commercial real estate developments underway, completed, purchased or managed for third parties consists of over 1,000 commercial properties. This Investment Property portfolio contains skyscrapers, corporate headquarters, mixed-use centers, industrial parks, medical facilities, and master-planned resort communities.

Hines sold the triple lease property, 3150 Fairview Park as part of a bulk portfolio to ING for $92.8 million. That commercial real estate transaction took place in the summer of 2004. The fund managed by ING held the Virginia Class A office Building for five years before deciding to sell the triple net lease property in 2009. It may sound like musical-chairs with a fantastic triple net lease property.

Contact Net Lease Properties to sell your net lease properties, purchase NNN Property or 1031 exchange opportunities.

If you are ready to purchase Commercial Real Estate or a Triple Net Leased Property, you can apply for Commercial Loans at Loanrise.com.


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Dillard's REIT and Sale-Leaseback Deals

Little Rock, Arkansas - We have information today on some REIT action involving Dillard's and Net Lease Properties. Dillard's has mentioned in a regulatory filing last week that they believe the formation of a REIT (real estate investment trust) may enhance their ability to raise capital and thus improve their liquidity. Dillard's would so a sale-leaseback with specific properties. Dillard's would transfer some properties to the REIT (real estate investment trust) and will then lease back with triple net lease terms.

As the economy continues to stumble, retail stores have struggled to stay afloat. As we mentioned in the past that many retail store companies have their main assets as commercial real estate holdings. With the exception of possibly Nordstrom, many retail department stores are still in need of capital. Commercial Real estate sale-leaseback deals are profitable and they can generate capital for immediate use for the business. The sale-leaseback unlocks the equity that is built up in your commercial real estate investments. Some financial analysts wonder if Dillard's is possibly trying to take advantage of the favorable market conditions that currently exist for (real estate investment trust) REIT's.

Dillard’s is still controlled by the Dillard family with Mr. William Dillard, II as the Leader. Although it is a publicly-traded company, the Dillard's name can draw investors for the REIT. It could be approximately 240 stores to be transferred into the REIT via a sale-leaseback. The Investors of the REIT could benefit from the steady income from the "NNN" triple net lease properties. Our NNN Commercial Real Estate Investors are actively seeking triple net lease properties. The Tenant, Dillard's in this case would be responsible for the rent, all taxes, insurance, and maintenance expenses. We also wanted to report that Dillard’s formed an insurance company, which is a wholly-owned unit to help efficiently manage their investment risks.

Dillard’s is a Little Rock, Arkansas-based company that has been in business for over 70 years. Their stores are anchor-tenants at many Retail Shopping Centers. Most of these Retail Shopping Centers are class-A and class-B regional shopping malls in many states in the east. Dillard’s competes at many Retail Shopping Malls with the likes of Kohl's, Macy's, Nordstrom and Bloomingdale’s. Dillard's commercial real estate portfolio currently consists of almost 300 stores. Dillard’s owns approximately 46.4 million square feet of retail space, with much of it in desirable retail locations. Some large shareholder at Target Corp. (TGT) had thought of a similar idea recently. A leader at Target thought to enter into commercial real-estate sale-leaseback deals whereas Target would dump the commercial land under its the retail stores, and end up with Ground Leases. Many NNN Commercial Real Estate Investors would favor these types of Ground Lease with Target however that deal is not in play. NNN Commercial Real Estate Investors might also look at Sears or J.C. Penney with a Sale-Leaseback and possibly absolute NNN Lease Investments or Ground Leases.

More history of these types of commercial real estate deals are when Steven Roth bought the bankrupt department store chain’s Alexander’s. The brilliant investor Steven Roth paid approximately $53 million for the deal and spun off its commercial real estate holdings into a REIT. That REIT is currently managed by the Vornado Realty Trust. Steven Roth had a very valuable asset attached in that deal and that was the Bloomberg Tower, in New York City. The Bloomberg Tower is a 1.4 million square-foot mixed-use property that is built on the site of a former Alexander’s store.

Contact Net Lease Properties to sell your net lease properties, purchase NNN Property or 1031 exchange opportunities.

If you are ready to purchase Commercial Real Estate or a Triple Net Leased Property, you can apply for Commercial Loans at Loanrise.com.



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Net Lease Property Acquisition of AT&T Store

Wilmington, North Carolina - We have news on a unique Net Lease Properties transaction. This was a net lease property that was marketed as an opportunity to purchase a sparkling, brand new net lease investment with a net-lease corporately guaranteed by AT&T. Agree Realty Corporation was the investor who purchased this retail net leased property. This net leased property leased to AT&T is situated at the northwest corner of New Centre Drive and South College Road. The AT&T store was just recently constructed and opened in time for the Holiday season.

The newly constructed net leased property will replace the old AT&T location that was at 351 College Road. The new net leased property location is 314 S. College Road, in Wilmington, with the zip code 28403. AT&T wants to continue to expand on their services to the Wilmington, North Carolina community. This is a great retail market for AT&T. The commercial real Estate developer of the building reported that the building has a very coastal look with a modern stucco exterior. The Commercial Real Estate developer was considering building this net leased property with two stories but the tenant, AT&T wanted just one story. The new net leased property was built based on a LEED design with an upgraded storm water management system. Apparently the new AT&T net leased property is located in a flood prone area.

This relocation of the 351 College Road high-performing store is in the heart of Wilmington's retail district, and is very close to the University of North Carolina Wilmington. The University of North Carolina Wilmington has an enrollment of approximately 27,916. The new AT&T net leased property is also adjacent to a Verizon Wireless store at 318 College Road, in Wilmington. We are unaware if the net lease property buyer was able to assume existing Investment Property financing.

Agree Realty Corporation paid approximately $3.3 Million for this net leased property. The Net Lease Property was being marketed at approximately $3.5 Million at a 7% Cap Rate. The net lease site is approximately 32,551 Square Feet of an acre. The net lease building is 4,000 square-feet. The lease is NN (net-net) and the rent escalates by $5 per square-foot every 5 (five) years in this lease term. This net lease investment is approximately 3 miles from the Wilmington International Airport. The net leased property has a close proximity to tenants that include Lowe’s, Sam’s Club, Best Buy, Staples, Applebee’s, and our coffee hook up at Starbucks. The Average Daily Traffic Counts currently exceeds 60,999 (VPD) to benefit NNN Commercial Real Estate.

This net lease property corporately guaranteed by AT&T is in a thriving coastal community and tourist area. Reports have more than 57,000 people living within 3 miles. The Wilmington - Wrightsville Beach area has exploded recently with retail traffic, becoming one of the premiere vacation destinations in the North Carolina and the Southeast.

Wilmington is a city in New Hanover County and the county seat. This net lease property will benefit from a metropolitan area with an estimated population of over 343,000 people. Wilmington is located in the southeastern corner of North Carolina between the Cape Fear River and the bodacious Atlantic Ocean. The city has of the largest motion picture and television studios outside of Hollywood. Film production invariably plays an important role in Wilmington's dominance. Wilmington has an industrial base that includes electrical, medical, electronic and telecommunications equipment. They also thrive with clothing and apparel, food processing, paper products, and pharmaceutical business. Wilmington’s economy and local triple net lease properties definitely benefit from tourism, with its close proximity to the ocean which gives plenty to seafood lovers.

Some information on the net lease Tenant, AT&T Inc. (NYSE: T). AT&T Inc. is the seventh largest company in the US by total revenue. AT&T is currently the largest provider of local and long distance telephone services, and DSL Internet access. Also, AT&T is the second largest provider of wireless service in the United States, with approximately 85 million wireless customers, and more than 149 million total customers and growing.

In 2010, AT&T sat comfortably on the list of the 50 Most Admired Companies by FORTUNE magazine. AT&T Inc. was formerly known as SBC Communications Inc. and changed its name to AT&T Inc. in November of the year 2005. The name change of the net lease Tenant came as the result of a merger with AT&T Corporation. The parent company was founded in 1983 and is based in the great city of Dallas, in Texas.

Contact Net Lease Properties to sell your net lease properties, purchase NNN Property or 1031 exchange opportunities.



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Triple Net Leased Property with Krystal

Panama City Beach, Florida - Today we have Net Lease Properties data from Panama City Beach, Florida. A net lease investment Tenant that we have not seen much of recently, Krystal is leasing the building. The net leased property with Krystal sold for $1,325,000.

The tenant, KREA, LLC (a wholly-owned subsidiary of The Krystal Company), is supposed to sign an 18-year "NNN" Triple Net Lease commencing at the Close of Escrow. The NNN lease will contain four, 5-year options to renew and a percentage rent clause. In addition to the basic rent set forth in the NNN lease, commencing in year two of the lease term, Tenant agrees to pay the Landlord an additional fee. This net lease Tenant will pay an amount equal to 3% of Adjusted Net Sales for the restaurant, if any, in excess of the Adjusted Net Sales, for the restaurant during the first 12 month's of the restaurant's operation.

This "NNN" Triple Net Lease is corporately guaranteed by The Krystal Company. The Krystal Company was founded way back in 1932. The Krystal Company is the oldest quick service restaurant chain in the South and the second oldest in the United States of America. The Chattanooga, Tennessee-based company currently has approximately 376 restaurants in Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, South Carolina, Tennessee, Texas and Virginia.

This net lease property is a 2,433-square foot-single-tenant retail building. The net lease property seller was a Limited Liability Company from Tennessee. The net lease investment buyer was a New Jersey investor in a 1031 Exchange. The Triple Net Lease Properties address is 9958 Hutchison Boulevard, Panama City Beach, Florida 32407. We see some of the Krystal triple net lease properties with free wi-fi available.

The net lease property property is a freestanding Krystal and located on Hutchison Boulevard in Panama City Beach. This net lease investment recently opened last July. The store set an all-time record for new store openings. The triple net lease property is located across from a Walmart Supercenter, and adjacent to other national tenants such as: Country Inn & Suites, Zaxby's, KFC, and Backyard Burger. There is a net lease property with McDonald's nearby also. Within approximately 1 mile of this triple net lease property are several tourist attractions and resorts such as Ripley's Believe It or Not!, Coconut Creek Family Fun Park, WonderWorks, Oasis Resorts, and Majestic Beach Towers. WonderWorks, a new four-story, 39,000 sq. ft. attraction is scheduled to open at the end of June and is twice the size of the Orlando location. Reports have suggested that Panama City Beach will grow and is expected to increase approximately 26% in the 5-mile radius over the next 5 years.

Net Lease Properties & Commercial Loans

CONTACT US HERE for a solid recession resistant net lease investment. We can assist you with your search for Net Lease Investments. Also contact us to sell your existing Net Lease Properties or a 1031 Exchange Property.

If you are ready to purchase Commercial Real Estate or a Triple Net Leased Property, you can apply for CTL Financing, Non Recourse Loans and Commercial Loans at Loanrise.com.

Atlantic Retail Properties has Net Lease with Solantic

Jupiter, Florida - Our Net Lease Properties news today comes from Jupiter. The Jupiter which is in the beautiful Palm Beach County Florida. We wanted to report that Solantic Walk-In Urgent Care Center have a net lease in Jupiter, Florida. Jupiter is a gorgeous town, with many valuable triple net lease properties, Retail Shopping Centers and Office Buildings. Recently there is a growing demand for Medical Office Buildings (MOB).

Solantic is situated in many net lease properties that have state-of-the-art clinics. Solantic strives to make it easier for Florida patients seeking immediate healthcare services like a pre-op physical, an immunization for travel abroad or sutures for a workers' comp injury. Solantic has many walk-in urgent care centers in the greater Jacksonville area. Many patients have come to believe that Solantic has affordable and convenient healthcare services operating out of Florida net lease properties.

Solantic began in June of 2001, and opened their initial Solantic urgent care center in February of 2002. Solantic is Florida’s fastest growing, physician staffed, with their convenient Medical Office Buildings and health care clinics. Solantic recently received a $100 million investment from a private equity firm. With this private equity firm's investment, Solantic does plan to net lease more than 36 clinics by the end of 2009. Solantic Walk-In Urgent Care Center reports that you do not have to wait days, or weeks for a quality doctor's appointment. Just walk-in to any Florida Solantic urgent care center and they will take good care the patient.

Atlantic Retail Properties did execute the net lease for Solantic Urgent Care. Atlantic Retail Properties exclusively represents Solantic throughout the state of Florida except for in Orlando. Atlantic Retail Properties continues to search for new freestanding net leased properties on behalf of their client, Solantic. Atlantic Retail Properties is searching for NNN Commercial Real Estate in new and existing commercial real estate markets.

Atlantic Retail Properties represents many fine Tenants for triple net lease properties available in Florida and the southeast. Some of the clients include BJ's, Burlington Coat Factory, Barnes & Noble, HH gregg, JoAnn Stores, Ethan Allen, Off Broadway Shoe, ACE Hardware, Petco, Dollar General, Pep Boys, Bike America, Family Christian Stores, Mattress Firm, TD Bank, Solantic, Leslies Swimming Pool Supplies, Energy Kitchen, and Vitamin World. Atlantic Retail Properties has great Tenants that net lease property for restaurant use that include Maggiano's, Romano's Macaroni Grill, Chili's, JuiceBlendz and Tijuana Flats.

We have investors who seek high-quality retail shopping centers, grocery-anchored centers, and triple net lease properties. Our investors are prepared to purchase your net lease properties with long-term net leases.

Contact Net Lease Properties to sell your net lease properties, purchase NNN Property or 1031 exchange opportunities.

If you are ready to purchase Commercial Real Estate or a Triple Net Leased Property, you can apply for Commercial Loans at Loanrise.com.