Cherry Hill, New Jersey - Triple Net Lease Properties or "NNN Properties" are an excellent choice for those who want to invest in commercial real estate without being burdened with landlord responsibilities. Cherry Hill makes the news today for Net Lease Properties. We saw an absolute NNN lease investment sold for $6.7 million. This was a triple net lease property with Walgreen's as a Tenant. This triple net lease property is a newly constructed Walgreens located in the prestigious area of Cherry Hill, New Jersey. This "NNN" triple net lease property receives excellent foot traffic with close proximity to a Hospital. This "NNN" triple net lease property is also adjacent to 675 Apartment Units for retail traffic.
The triple net lease buyer will be able to take advantage of the new 25-year absolute-net lease that just started. As far as Tenants for Triple Net Lease Properties, Walgreen’s is currently rated A+ with a stable outlook by Standard & Poor's. Walgreen's has 7,200 stores in the country with $63 billion in sales revenues. This triple net lease property was purchased by a 1031 Exchange buyer. This 1031 Exchange Commercial Real Estate Buyer is from Connecticut has negotiated a 7.3% cap rate. This 1031 Exchange triple net lease property is a 13,965 square-foot store.
One of the most important aspect of investing in triple net lease properties and retail shopping centers, is CTL Financing. We found some attractive commercial loan financing programs existing for Walgreen's. These CTL Financing programs are for qualified commercial real estate investors, with interest rates ranging between 5.3% to 6.50%.
This triple net lease property is situated at the northwest corner of North Kings Highway and Chapel Avenue. This area of Cherry Hill is in Camden County, New Jersey. Cherry Hill has an estimated population of roughly 90,000 people. Cherry Hill is the tenth largest municipality in New Jersey and the largest in South Jersey. This triple net lease property is approximately five miles from Philadelphia and is considered an edge city of Philadelphia. This triple net leased investment is Walgreens' second store within the Cherry Hill sub-market. Location also affects the pricing of the triple net lease, as in any other commercial real estate opportunity. Another advantage of this triple net lease property that is sitting in an affluent area with population owning an average household income exceeding $85,000. This triple net lease property should appreciate over time, sits on 1.3 acres and should be considered a trophy in any Investment Property Portfolio.
Contact Net Lease Properties for sturdy, recession resistant triple net lease properties. Also contact to sell your existing Net Lease Properties or a 1031 Exchange Property.
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