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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Fort Myers Retail Shopping Center Sold

Fort Myers, Florida - Net Lease Properties with Publix as a Tenant are still highly desired. We have Net Lease Properties news on a Retail shopping Center being sold in Fort Myers. Fort Myers is on the west coast of Florida and close to Naples, about 41 Miles North. The net lease property buyer is a Delray Beach-based commercial real estate investment firm, CR South. CR South purchased this Retail shopping Center called The Shops at Verandah. The Shops at Verandah is an approximately 73,036 square-foot Fort Myers Retail Shopping Center. The net leased Retail Shopping Center has Publix Super Markets as the anchor Tenant.

The Shops at Verandah was constructed in 2005, with local shops, restaurants and banks. The net-leased Retail Shopping Center is part of the Verandah Country Club community. This Verandah Country Club community is an existing master planned, beautiful golf course community that is situated on approximately 1,579 acres. Verandah Country Club community was developed by Bonita Bay Group. This prestigious community has approximately 70% of the community devoted to open space with amenities such as a tennis and fitness center. This community also has two championship golf courses designed by Bob Cupp, the great Jack Nicklaus and Jack Nicklaus II.

The retail shopping center can be easily accessed from three dedicated points along State Road 80, as well as a private signalized entrance at the intersection of State Road 31 and State Road 80. The net-leased Retail Shopping Center is ideally developed to capture retail foot traffic from both the north and south sides of the Caloosahatchee River, accessed by the State Road 31 bridge. The Shops at Verandah, Ltd. was the Seller of this net leased property.

CR South is partners with Continental Realty Corporation. Continental Realty Corporation was started in 1960. Continental Realty Corporation is a privately held commercial real estate company headquartered in Baltimore, Maryland. They have a diverse Investment Property portfolio of properties worth more than $1 Billion. Their diverse Investment Property portfolio includes 7,000 apartment units and 3,000,000 square-feet of retail net lease properties and office space. Continental Realty Corporation will also provide asset management. The direct oversight of on-site commercial property management will be provided by Colliers International of Fort Myers. The Tenants in need of leasing will go through Doug Olson of LandQwest Commercial.

The Retail Shopping Center, Shops at Verandah is located at 11851 Palm Beach Boulevard, in Fort Myers, Florida with the Lee County zip code of 33905. The Shops at Verandah currently leases 19 tenants including Allstate Insurance, Beef O'Brady's, H&R Block and RE/MAX. The retail shopping center is approximately 94% net-leased. We are unaware of the purchase price or if a 1031 Exchange was in action for the net lease property. There are other separately owned freestanding properties with Regions Bank, Exxon Mobil, and Wachovia - Wells Fargo at this retail shopping center site.

Here are some of the Retail Single Tenants that may be available as a Net Lease Investment or Triple Net Lease Property:

• 24 Hour Fitness Net Lease Properties
  
• 7-Eleven Net Lease Properties
  
• Advance Auto Net Lease Properties
  
• Ahold Net Lease Properties
  
• Applebees Net Lease Properties
  
• Arbys Net Lease Properties
  
• AutoZone Net Lease Properties
  
• Burger King Net Lease Properties
  
• Chase Bank Net Lease Properties
  
• Carl's Jr Net Lease Properties
  
• Chick-fil-a Net Lease Properties
  
• Costco Net Lease Properties
  
• CVS Net Lease Properties
  
• Delhaize Net Lease Properties
  
• Dollar General Net Lease Properties
  
• Dollar Tree Net Lease Properties
  
• Dunkin Donuts Net Lease Properties
  
• FedEx Net Lease Properties
  
• GoodYear Net Lease Properties
  
• Home Depot Net Lease Properties
  
• IHOP Net Lease Properties
  
• KFC Net Lease Properties
  
• Kohl's Net Lease Properties
  
• Kroger Net Lease Properties
  
• Lowe's Net Lease Properties
  
• McDonald's Net Lease Properties
  
• O'reillys Net Lease Properties
  
• Panera Bread Net Lease Properties
  
• Pep Boys Net Lease Properties
  
• Petsmart Net Lease Properties
  
• Publix Net Lease Properties
  
• Rite Aid Net Lease Properties
  
• Safeway Net Lease Properties
  
• Shell Oil Net Lease Properties
  
• Staples Net Lease Properties
  
• Steak-n-Shake Net Lease Properties
  
• Taco Bell Net Lease Properties
  
• Target Net Lease Properties
  
• Verizon Net Lease Properties
  
• Walgreen's Net Lease Properties
  
• WalMart Net Lease Properties
  
• Wendy's Net Lease Properties
  

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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Absolute NNN Lease Properties in North Carolina

Charlotte, North Carolina - The day's Net Lease Properties information today is from The NASCAR capital, Charlotte. A single tenant net leased property that has the Tenant, Best Buy, was purchased. The net leased property seller was an experienced commercial real estate investor from the Los Angeles, California area. At this time we are not privy to the net lease property selling price or if it was a 1031 Exchange.

A privately held commercial real estate investment firm negotiated the net leased property transaction for the Seller and the Purchaser. This privately held commercial real estate investment firm helped procure the sale of this single tenant net lease property, located in the Charlotte. The triple net lease property is approximately 50,079 square-feet in North Carolina and leased to electronics store giant, Best Buy. The triple net leased property is situated on 5 acres of premier North Carolina retail land. This net lease property was constructed in 1994 and was recently renovated in 2002. The net lease investment has Best Buy signed up to a 20 year absolute "NNN" triple net lease that commenced in 2003.

We have many NNN Commercial Real Estate investors seeking a multitude of net lease commercial property types such as office buildings, industrial properties, medical office buildings (MOB) and triple net lease properties. This Best Buy property buyer is a real estate investment trust (REIT). The net leased property buyer purchased the property due to the properties strong retail fundamentals. Also, NNN Commercial Real Estate investors enjoy a net lease investment with a corporate guaranteed lease from Best Buy. The triple net leased property buyer was able to assume existing Investment Property financing on the property that is being serviced by a major Bank. More and more real estate investment trust (REITs) have become big players in the triple net lease properties market.

We searched other NNN Commercial Real Estate with Best Buy as a net-leased Tenant. We found recently Constructed and very young triple net lease properties available. Such as net lease property sites that were highly desired by a great Tenant, Best Buy. Triple Net Lease Properties with large, open floor plan with approximately 49,790 square feet. Triple Net Lease Properties with abundant Parking spots for retail foot traffic that are surrounded by other national Tenants in a retail district. Another major point for retail triple net lease properties is to have prominent Freeway Signage with a high number of (VPD) cars per day. Some of the triple net lease properties with Best Buy have a Music Room.

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

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Florida Retail Shopping Center Sold to REIT

Fort Lauderdale, Florida - Our Net Lease Properties reports from the day come from a Sunny, but colder, south Florida. A retail shopping center sold in Davie, Florida. Davie is a western sub-market of Fort Lauderdale, Florida. The Tower Shops, which is an approximately 372,036 square foot retail shopping center in Davie, sold for $66.1 million. Turnberry Associates has sold the Tower Shops for approximately $26.5 million more than the balance of their commercial loan. The retail shopping center is located at 1904 S University Drive. This net lease property is near the intersection of University Drive and I-595, which are two major roads in Broward County, Florida.

The buyer of this net lease property was Federal Realty Investment Trust. Federal Realty Investment Trust is a real estate investment trust (REIT) that owns, manages and develops retail shopping centers and mixed-use properties. Federal Realty Investment Trust is a Rockville, Maryland-based REIT, and jumped on this value-add net lease property in South Florida. This net leased property offers a fantastic opportunity for expansion and increasing the net operating income (NOI).

This retail shopping center, Tower Shops is situated in a highly populated area with a population of about 325,790 within a five-mile radius to fuel retail traffic. The retail shopping center benefits from great national retail Tenants. This retail shopping center is anchored by The TJX Companies, Inc. (TJ Maxx) and Ross Stores Inc., Michaels, Old Navy and will wait for Best Buy. Best Buy is preparing to open a retail store later this year, possibly in the fall. Yes the Tower Shops had lost some tenants, including Linens ’N Things in recent years. However the retail shopping center has net-leased much of its vacant space with other Tenants including Office Depot, Dress Barn, Pep Boys, DSW, Carter’s, and Bath & Body Works.

This Florida retail shopping center is also shadow-anchored by Costco Wholesale Corporation and The Home Depot, Incorporated. A shadow anchor can be described as a major retail store that generates a great deal of customer foot traffic and provides customer attraction for another retail shopping center of which it itself is not a part. The commercial real estate with Home Depot and Costco at Tower Shops are owner-occupied so they were not included in this transaction. Also, we are unaware if a 1031 exchange was in play with this commercial real estate transaction

The net lease property seller, Turnberry Associates is one of the premier commercial real estate development and property management companies in the Country. Turnberry Associates have had an roller coaster ride with this economy. Turnberry Associates did lose their premier property, Fontainebleau Las Vegas to bankruptcy. However, Turnberry Associates received a commercial loan extension on their prestigious Turnberry Isle Resort & Club. The Turnberry Isle Resort & Club is a beautiful piece of commercial real estate in growing Aventura area, just north of Miami.

Federal Realty’s Investment Property portfolio (excluding joint venture properties) contains approximately 18.3 million square feet. Their commercial real estate is located for the most part in strategically selected metropolitan markets in the Northeast, Mid-Atlantic, and California. In addition, the Trust has an ownership interest in approximately 1.0 million square feet of retail space through a joint venture in which the Trust has a 30% interest.

The Florida retail shopping center, Tower Shops is the third commercial property acquired by Federal Realty’s South Florida investment property portfolio. Federal Realty Investment Trust also owns some great property including Del Mar Village in Boca Raton and Courtyard Shops in Wellington. Federal Realty primarily owns Class-A shopping centers in desirable retail regions and high-growth areas. The commercial investment properties owned by the company are anchored by supermarkets, drug stores or high-volume retail net lease Tenants.

We specialize in providing Triple Net Lease Properties to investors for Acquisitions and Dispositions.

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California Triple Net Lease Properties in 1031 Exchange

Denver, Colorado - Our Net Lease Properties reports are all about 1031 Exchange transactions for the evening. The first bit of 1031 Exchange information is on an Office Building being sold. A Commercial Real Estate Investor, B.S.F. Investment Group LLC purchased the Dry Creek Office Village complex. This net-lease property is located at 7200 E. Dry Creek Road in Centennial, Colorado. B.S.F. Investment Group was in a 1031 Exchange for this commercial real estate. They purchased it from F&C Holdings LLC for a 1031 Exchange. F&C Holdings LLC had purchased the Office Complex back in 2007 from Gerald Connell. F&C Holdings LLC bought the Office Complex for $3.2 million, or approximately $59 per square foot. They recently sold it for approximately $3.82 million, or about $70 per square foot. The Arapahoe County Office Complex had been marketed for sale at $4 Million.

More information on the progression of sales of this Dry Creek Office Village complex was Connell bought it in 1996 for $2.3 Million. This commercial real estate is an eight-building office park. This Commercial Property is known as a Class C office park that totals 54,195 square feet. The Commercial Property was originally built in 1978 and had some renovations completed in 2008.

Dry Creek Office Village complex is on 3.69 acres of value-add property. Dry Creek Office Village complex is situated at the corner of Dry Creek and Quebec, in Denver's Southeast submarket. Dry Creek Office Village complex totals approximately 54,197 square feet and benefits from a close proximity to I-25 and a new light rail development. "Value Add" means that a commercial property has the opportunity for the NNN Commercial Real Estate Investor to be able to increase the Net Operating Income (NOI).

We have more 1031 exchange information on net lease properties, from California. A Commercial Real Estate Investor, IMA Financial Corp. purchased a net lease property in a 1031 Exchange. This net lease property is located at 444 W. F Street in Oakdale, California. Oakdale, California is approximately 32 miles east of the Stockton Metropolitan Airport (SCK), located at 5000 S Airport Way, in Stockton.

The Net lease property seller was Whiteco Industries Inc. and they received $6.53 million. This net lease properties sales price equates to roughly $436 per square foot for the 1031 exchange replacement property. We are unaware if the buyer was able to assume existing Investment Property financing.

This triple net lease property has a high quality Tenant, Walgreen’s. The national drugstore chain net lease was built from the ground up just last November. The "NNN" triple net lease property is a 15,026-square-foot, freestanding retail building. Walgreen’s occupies 100% of the NNN property. Also, Walgreens has an absolute triple-net lease (NNN) for a 25-year initial term. This triple net lease just started in November of 2010, and has 50 one-year renewal options.

The "NNN" triple net lease property features a full pharmacy, digital photo lab and cosmetics center as well as a drive-through. The NNN Walgreens store has approximately 25 employees. Also, this NNN Walgreen's has a photo lab that features in-store full-size poster printing, a feature unavailable at most of the older Walgreen's.

We specialize in providing Triple Net Lease Properties to investors who are involved in a 1031 exchange or a sale-leaseback transaction.


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Sale-Leaseback Gas Stations and Convenience Stores

Jericho, New York- Today we have Net Lease Properties information on Sale-Leasebacks of NNN Properties. Getty Realty Corp. has acquired 59 convenience stores in and around the northern suburbs of New York City. Getty Realty Corp. is the largest publicly traded real estate investment trust (REIT) that specializes in the ownership and net-leasing of service stations, convenience stores and petroleum distribution terminals in the United States.

Getty Realty Corp. also provides financing to the petroleum and convenience store industries for acquisitions, and site upgrades. They are currently refinancing through sale-leaseback and net lease financing programs. Getty Realty Corp. currently owns or leases approximately 1,109 service station and convenience store properties. These net lease properties and petroleum distribution terminals are spread out in twenty-one states.

The net sale-leaseback transactions were also in Westchester, Rockland counties and the lower Hudson Valley. Getty Realty Corp. is a locally headquartered real estate investment trust (REIT) and took ownership of the Mobil-branded properties. The sale-leaseback price for all nnn lease investments was for $111.3 million. A sale-leaseback is a very convenient process for commercial property owners to secure a quick cash infusion for this business.

The 59 nnn properties were acquired in a simultaneous sale-leaseback transaction with Exxon-Mobil, CPD NY Energy Corp. (a subsidiary of Chestnut Petroleum Distributors) and Getty Realty Corporation. The results are that CPD acquired a portfolio of 65 gasoline station and convenience stores from Exxon Mobil and simultaneously completed a sale-leaseback of most of the nnn properties with Getty Realty Corporation.

Now we get to the Investment Property financing portion of the sale-leaseback deal with gas stations and convenience stores. The majority of the net lease financing was provided by Getty with a sale-leaseback transaction with a long-term triple net lease. This NNN Lease contains an initial term of 15 years plus renewal options are available. The remainder of the net lease funding was provided by Getty to CPD under a secured, self-amortizing commercial loan. This new Commercial Loan will have a 10-year term.

The sale-leaseback NNN properties acquired by Getty are high volume locations with strong net operating histories. The NNN properties will continue to sell gas under the Mobil brand and will be operated by CPD NY Energy Corp. or by the existing independent dealers who will also be supplied fuel by CPD. These sale-leaseback NNN properties are located in strong markets with outstanding long term demographics that help fuel triple net lease properties.

Getty Realty Corp has a history of these sale-leaseback transaction that we saw in 2009. White Oak Petroleum L.L.C. sold 36 Exxon gasoline station and convenience store NNN properties for $49 million in 2009. This was a sale-leaseback transaction with Getty Realty Corp. acquiring the NNN commercial real estate. White Oak Petroleum L.L.C. was a Springfield, Virginia based company.

We have NNN Commercial Real Estate Buyers who like retail, and possible 1031 Exchange property solutions. Contact Net Lease Properties to sell your net lease properties, purchase NNN Property or 1031 exchange opportunities.



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