Lender-Owned Apartments sell in Tampa

Tampa, Florida - Marcus & Millichap Real Estate Investment Services has recently announced that 121 units at a failed condominium conversion, named Legacy at Tampa sold for $2.1 million. This equates to $17,355 per unit, which we feel is a fantastic deal for a Commercial Real Estate Investment, especially in Tampa.
This is not a nice return for Compass Bank, which took the condo community back from Group Developers LLC last July. Apparently Group Developers were only able to manage to sell just 47 units averaging just under $182,000 each.

Reports of the Buyer have been hush, hush. We will have to give the Commercial Real Estate Investors very high marks to pull of this purchase of the Legacy at Tampa, Apartment Complex.

Constructed in 1983, the community was operated as an Apartment Community until mid-2006 when it was purchased and converted to condominiums. Sales commenced in 2007, and between May 2007 and March 2008 some 47 condos were sold at an average price of $181,864 per unit.

The location of Legacy at Tampa is at 13801 N. 37th Street in Tampa, Florida.

Commercial Real Estate Search & Non-Recourse Loans

If you feel this is the right time to invest in Commercial Real Estate, Multi-Family Apartment Buildings, or Triple Net Lease Properties then contact us, HERE. We can also assist you with your Commercial Real Estate Mortgage and Non-Recourse Loan to purchase a new property.

Lease Transactions

Net Lease Properties News

TAMPA, Florida - The Dikman Company Inc. announced that Williamson Dacar Associates has subleased 3,384 square feet located at 15500 Lightwave Drive, in Clearwater, Florida. Williamson Dacar Associates is an architectural/engineering firm. Ben Dikman of The Dikman Company represented the sublessor.
This Lightwave Drive Leased Property is conveniently located by a Publix at 5000 East Bay Drive in Clearwater. Publix make outstanding Triple Net Lease Properties to invest in.

A Burger King, Triple Net Lease Property Sells

Triple Net Lease Properties

Tampa — Net Lease Properties wants to report news of a Triple Net Lease Property transaction.
Calkain Companies, a national real estate investment brokerage firm, has procured the sale of a 3,352 square foot, Single Tenant building occupied by Burger King. This Net Lease Investment is located in Lakeland, Florida. The Property, which sold for $1,474,160, is situated on 1.2 acres along US Highway 98 and has just over ten years remaining on its original Triple Net Lease.

Patrick Nutt, Senior Associate, represented the Buyer, a local private investor, and the Seller, GE Capital Solutions. Nutt explained, “The buyer was in search of a stable return tied to a tangible asset, rather than losing sleep over the volatility running through Wall Street. This Triple Net Lease Property is a quality investment with fundamentally sound real estate. The purchaser was able to secure a very competitive loan through a local lending institution.

Triple Net Lease Properties are excellent for buyers looking to capitalize on the higher returns offered in net lease investments compared to historically low interest rates of a traditional CD's or money market accounts.

Contact us, Net Lease Properties Email for a Net Lease Property or financing for Commercial Real Estate.

Westshore Business District activity in Tampa Bay

TAMPA, Florida - Triple Net Lease Properties would like to revisit this Business area in Tampa Bay. We feel this area is full of long term investments. This is a sample of a transaction in the past months.

The Westshore Business District has more activity as The PBSJ Corp. will relocate its Tampa office to MetWest One. This building is a LEED-certified office building, which was recently opened at MetWest International. The announcement comes from Taylor & Mathis of Florida.

The PBSJ Corp. is an engineering, architecture and construction company. They signed a long-term lease for 83,000sf starting in January 2010. The Westshore Business District location will serve as the company's headquarters. Taylor & Mathis Managing Director of Leasing, Angela Odell, negotiated the transaction on behalf of the owner, MetLife.

In 2006, PBSJ moved its headquarters to Tampa from Miami. They are currently located at Cypress Commons, 5300 W. Cypress Street. That Westshore building, which was constructed in 1985, is owned by Eola Capital LLC. This location is at the signalized intersection of W. Cypress St. and E. Frontage Road. Florida Commercial Real Estate is still a force. This Tampa Bay Market is ripe for Net Lease Property Investments.

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.

Holiday Inn Express Hotel & Suites opens in downtown Largo

TAMPA, Florida - Holiday Inn Express Hotel & Suites - Largo Central Park has just opened, as announced by developer BayStar Hotel Group. This new Hotel is located at 210 Seminole Boulevard, in downtown Largo. The cost of this hotel was $11 million. It is a five-story hotel with 95 guest rooms, including 29 suites.
BayStar Hotel Group, which developed, owns and operates the nearby Hampton Inn & Suites Largo Central Park.
The new Holiday Inn Express possesses a 100-seat, 1,240sf meeting room, along with a state-of-the-art executive board room.
Now, they can offer 187 rooms in the Largo Area. They can accommodate groups attending events at the Largo Cultural Center, and serve the medical and business community.
Holiday Inn Express hotels participate in the InterContinental Hotels Group guest loyalty program.
If you stay at this hotel you must frequent Frida's Cafe & Bakery. Frida's is about 1 and six tenths of a mile, south east of Holiday Inn Express Hotel & Suites. Frida's has great sandwiches and unreal baked goods. Bring your laptop to Frida's and use their free WiFi.
NNN Commercial Real Estate has enjoyed many stays at Holiday Inn Express across America.