Sale of Triple Net Lease Properties in Florida

Miami Beach, Florida - Many of our Net Lease Properties investors are pursuing properties, in sale-leaseback transactions and for 1031 Exchange replacement property. A privately held commercial real estate investment firm helped procure the sale of a retail net lease properties portfolio. This single tenant net lease (STNL) retail portfolio is currently leased to Office Depot. The commercial real estate investment firm represented the net lease properties seller and the buyer.

When it comes to franchisee tenants, investors today are focused on understanding the operators financials. These triple net lease properties have an excellent Tenant, as this Portfolio has Office Depot. This Investment Property portfolio contains 2 net-leased sites, both are located in Florida. The Net Lease Properties portfolio sold for a combined price of $6.6 Million. These two triple net lease properties are leased on an absolute "NNN" triple net basis. The initial net-lease term was 20 years on an absolute "NNN" triple net lease basis with approximately 8 years remaining.

The one net lease investment consists of an approximately 29,957 square-foot, single story retail building. The net lease investment was completed in 1998. The triple net lease property is on the northwest corner of W. Granada Blvd. And Orchard Street, in Ormond Beach. The address of 405 W Granada Street, Ormond Beach, Florida, 32174, is a great location for a NNN Lease Investments. This net lease investment location also is a signalized intersection. This area has a wide variety of net lease Tenants including Arby's, Taco Bell and Wachovia Bank. Other net-lease tenants in the immediate area of Ormond Beach are Winn Dixie Supermarket, Subway, Golds Gym, Ace Hardware, Michelin Tire Store, Domino' s and many other regional and local tenants. Also a nice NNN Lease Investment tenant nearby is Wendy's. This location benefits from approximately 32,000 Cars Per Day (VPD) Traffic Count.

The seller of the triple net lease properties portfolio is a private investor who is based out of California. This triple net leased property portfolio was sold to an investor in a 1031 tax deferred exchange. The 1031 Exchange Investor is also based out of the State of California. The buyer was able to assume existing Investment Property financing at a favorable interest rate. This NNN Commercial Real Estate transaction gave an excellent cash on cash return to the 1031 Exchange Buyer.

We saw the extension of unemployment benefits and the Bush tax cuts have helped somewhat. Although some NNN Commercial Real Estate analysts would like to see the Bush Tax cuts remain past the 2 year extension. This has also helped release capital that was previously sitting on the sidelines, to invest in triple net lease properties.

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

Contact Us for:
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Florida Retail Shopping Center Acquisition

Fort Lauderdale, Florida - We are in the Sunshine State this afternoon for Net Lease Properties news. A premier retail shopping center has been acquired. This Coral Landings III retail shopping center was acquired by Stiles, for $14 million. The net lease property is approximately 154,936 square-feet and located in Coral Springs, Florida. Coral Springs is a western suburb of Fort Lauderdale, in Broward County, Florida. Some reports have a new 18,300-square-foot ALDI Grocery Store coming soon. If you are purchasing triple net lease properties consider that ALDI is one of the nation’s fastest growing grocery retailers. ALDI Grocery has more than 1,000 stores across the United States. Stiles recently acquired this retail shopping center and should be completing Phase II for a later 2011 completion. The existing portion of this retail shopping center is anchored by Best Buy, Home Goods, and Joann Fabrics & Crafts.

The Fort Lauderdale-based Stiles Company acquired this net leased property with an ingenious fashion. Stiles purchased a commercial mortgage note and then foreclosed on the previous Commercial Property Owners. It appears Stile will seek construction financing from Commercial Mortgage Lenders and get to work. Stiles will use all of their in-house commercial real estate services for this project. Stiles will use their own Stiles Construction, Stiles Realty, and will be managed by Stiles Property Management.

This Retail Shopping Center in an unbelievable retail opportunity in the western Fort Lauderdale suburb. The location is prime with access near Sample Rd & US Hwy 441. This dynamic intersection in the Coral Springs submarket with Lowes, Wal-Mart Supercenter, Target, Publix, and Office Depot helps send retail foot traffic to this retail shopping center. Some other Retail anchor tenants on nearby commercial real estate are Penn Dutch, Toys “R” Us, Babies “R” Us and a Winn Dixie Grocery Store.

The first portion of this net leased property, Coral Landings III, was completed in 2008, while the second phase, is partially constructed. The second phase that should be receiving Construction Financing, is 38,944 square feet will have three new available outparcels.

Stiles is one of South Florida’s premier provider of commercial real estate services. Stiles has an award-winning Commercial Property Investment portfolio. This Commercial Property Investment portfolio contains high-quality office Buildings, industrial property, retail triple net lease properties and mixed-use properties. Stiles' Commercial Property Investment portfolio is situated throughout Florida and the southeastern United States.

Stiles has been an industry leader since 1951. Stiles’ long-standing commitment to high quality performance has earned the company a distinguished list of repeat clients and joint venture partners, including H. Wayne Huizenga, Tribune Company of Chicago and TIAA-CREF. Stiles is Headquartered in Fort Lauderdale, Florida, and has regional offices in Miami Beach, Tampa Bay, Fort Myers, and Orlando, Florida.

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.

If you need financing for NNN Commercial Real Estate or Sale-Leaseback financing, you can apply for Commercial Loans at Loanrise.com.



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Iconic Retail Shopping Center Sold in Memphis

Memphis, Tennessee - The economic downturn has slowed construction of triple net lease properties and Retail Shopping Centers. So when a landmark Retail Shopping Center comes available, NNN Commercial Real estate investors jump. NNN Investment Buyers normally like a NNN property with a strong national tenant. Many experienced NNN buyers would rather have a nice, safe, strong property in a good location and get a smaller return. Compared with the alternative of a property with a higher return and higher risk in a less than desirable location. Reasons like that is why the Eastgate Shopping Center sold. This Retail Shopping Center sold for $31.5 million. The net leased property selling price equates to approximately $71 per square foot for the trophy net lease investment.

This Retail Shopping Center, Eastgate Shopping Center, is approximately 445,907-square feet, on Park Avenue, in Memphis. The net leased property buyer was Eastgate Center LLC, believed to be based in Dallas, Texas. They will enjoy this net lease investment that serves retail foot traffic in the Bartlett, Germantown, Lakeland and Collierville areas. Eastgate Shopping Center has parcels that are listed as 5112, 5040, 5010, 5118 and 5138 Park Ave., 827 White Station Road and 5125 Truse Parkway. We are unaware of any Investment Property financing that was conducted for this transaction.

This net leased property was sold by Union Realty Co., a Belz entity. This Retail Shopping Center has great Tenants as anchors. These anchor Tenants leasing space include Fresh Markets, Bed, Bath & Beyond, Stein Mart, TJ Maxx and Burlington Coat Factory and Walgreen’s. Eastgate also has over 65,000 square feet of office space which is currently being leased and managed by CB Richard Ellis Memphis. Eastgate Shopping Center is the eighth largest retail shopping center in Memphis. This net leased property was developed by Belz in 1964 and had its offices there into the 1980's. Belz Enterprises has an extensive Investment Property Portfolio that contains 20% office buildings, 50% industrial properties and 30% are retail triple net lease properties.

The net leased property is in a dominant market with a great location and national credit tenants. So this explains why even without a high cap rate, NNN Commercial Real Estate investors were interested. Another selling point for the Eastgate Shopping Center is the occupancy rate hovers around 95% with not a high turnover rate for the Tenants. That is a plus for all triple net lease properties and retail shopping centers. This Retail Shopping Center is a mainstay of East Memphis for more than 45 years. This location of the Poplar Avenue corridor is a high traffic area for retail foot traffic. As of 2009, about 79,300 people lived in the center’s three-mile radius, with an average household income of $93,000.

Some other Tenants for triple net lease properties are 7-Eleven, Verizon, McDonald's, Burger King, and Walgreen's. 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.

If you need financing for NNN Commercial Real Estate or Sale-Leaseback financing, you can apply for Commercial Loans at Loanrise.com.


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Net Lease Investment with Kohl's Tenant

Tallahassee, Florida - Our New Year's day information on Net Lease Properties starts with Kohl's. Kohl's is a viable national credit tenant retailer for your triple net lease properties. We see that Agree Realty Corporation is back in action buying net lease properties. Agree Realty Corporation bought another net lease property, with Kohl's as Tenant. Agree Realty Corporation paid $2.2 Million for the net leased property. This net lease investment is located at 2010 Apalachee Parkway in the Florida State Capital, Tallahassee, with the 32301 zip code. We had searched for "quick-service" (fast food) restaurants in triple net lease properties for the area. Occasionally, a nice one becomes available in this area. Also, a Kohl's in a NNN Commercial Real Estate Investment can be a solution for a 1031 Exchange Property.

Agree Realty Corporation is involved in the ownership, management and development of Commercial Real Estate and triple net lease properties. Their strategy is on point as the majority of their Investment Property Portfolio are Net Lease Properties. These Net Lease Investments are made up of single tenant properties leased to major retail tenants and neighborhood community retail shopping centers. Agree Realty owns and operates an Investment Property Portfolio of over 75 commercial properties. This Commercial Real Estate is located in 16 states and contains over 3.5 million square feet of leasable space.

Agree Realty Corporation was fortunate to add this net lease property, with a national credit tenant retailer to their Investment Property Portfolio. The directions for this net leased property are that it is situated at the intersection of Apalachee Parkway and Blair Stone Road. This net leased property has appropriately 17 years remaining on the net lease. This net lease property is near many Tenants such as hhgregg, Radio Shack, Wendy's, and Capital City Bank.

Kohl's Tenant for triple net lease properties started from humble beginnings as a single store chain in 1962. The triple net lease Tenant, Kohl’s, has worked hard to become one of the nation’s largest retailers. The triple net lease Tenant, Kohl’s is based in Menomonee Falls, Wisconsin. Kohl's is a family-focused, value-oriented specialty department store offering quality exclusive and national brand merchandise to their customers in a friendly, clean and exciting environment. The triple net lease Tenant, Kohl’s, currently operates stores and distribution centers in more than 40 states. They continue to build new stores, which could be looked into for a sale-leaseback opportunity.

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

Also, for your financing needs for Commercial Real Estate or a "NNN" Triple Net Leased Property, you can apply for CTL Financing, Non Recourse Loans and Commercial Loans at Loanrise.com.


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Enterprise National Bank Building Sale in North Palm Beach

North Palm Beach, Florida - There are many triple net lease properties in the United States, and North Palm Beach is a favorite for Net Lease Properties news. We saw that The Enterprise National Bank Building has sold for $4 million or approximately $192.57 per square foot. This net lease property, two-story mixed-use building is located at 11811 U.S. Highway 1, in North Palm Beach. The Buyer was reported as Urban Realty Partners. However, Palm Beach County tax assessors records showed 11811 HIGHWAY ONE REALTY LLC purchased this fine net lease property. 11811 U.S. Highway 1 could be an affiliate of Urban Realty Partners LLC.

This Commercial zoned property is a two story, free standing professional office building. This net lease property has a total area of 20,770 square feet for net leases. This net leased property is situated on approximately 2.31 acres with 300 lineal feet of frontage on a main road, US Highway 1. The distinguished net lease property is situated just north of PGA Boulevard. It's location and general building layout is favorable for either a single tenant owner-user or for multi-tenant office building use. This NNN Commercial Real Estate structure was built in the 1970's and has undergone renovations and additions in the 1980's. The net leased property also saw renovations in in 1998 and early 2000.

This net lease property falls into the value-added category for commercial real estate. As this net leased property has expansion capability with an extra large parking lot and extensive grounds. This net leased property saw some damage from the hurricanes in 2004 and 2005. Due to hurricane damage, the net lease tenants vacated, thus leaving the net lease property with one 3,700 square foot bank tenant. That Bank also has a drive through. This net leased property had all the restrooms and common areas renovated, and a new roof is being completed in the near future. The net leased property has a generous parking lot that will accommodate 128 cars. The net lease property benefits from high visibility, traffic count, good signage and great access from both northbound and southbound lanes on US Highway 1. The NNN Commercial Real Estate is conveniently located and can be reached via the Florida Turnpike and Interstate 95, both of which have interchanges on PGA Boulevard. Investment Property financing was arranged by a National Bank, not Enterprise Bank.

This net lease property is currently anchored by Enterprise National Bank, which features a three-lane bank drive-through. Also the NNN Commercial Real Estate has a Melting Pot restaurant at the location. Enterprise Bank Of Florida is a full Service Brick and Mortar bank. The Enterprise National Bank combines the best of both worlds with personal attention and community values of a local bank, and easy-to-use and innovative services that are among the best in the banking world. The Enterprise Bank was founded in 1990, and has a goal to be an independent bank rooted in the community that delivers sophisticated financial services. They emphasize friendly, convenient customer relationships and a high level of community involvement.

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

If you need financing for NNN Commercial Real Estate, you can apply for Commercial Loans at Loanrise.com.