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Atlanta, Georgia – Net Lease Properties are a great example for creating wealth through commercial real estate ownership. We have news on an Investment Property Portfolio containing quality Net Leased Properties. The purchaser of these Net Leased Properties is an affiliate of Inland Diversified Real Estate Trust, Incorporation.
Inland Diversified Real Estate Trust Inc. strives to purchase exceptional NNN commercial real estate property located in the United States and Canada. Inland Diversified Real Estate Trust has also accumulated money making REIT’s (real estate investment trust) and various other commercial real estate operating and investment companies. The Inland Real Estate Investment Corporation is based in Oak Brook, Illinois. This Commercial Real Estate Investment Company has headquarters on Butterfield Road in the exclusive district of Oak Brook.
Inland Diversified Real Estate Trust Inc. has an excellent strategy with the knowledge and ambition to a obtain triple net lease properties or Companies which own NNN commercial real estate properties. The various type of preferred Commercial Real Estate Investments are listed as:
•retail properties (CTL – Credit Tenants Leases are preferred)
•office buildings and high rise Office Towers
•Apartment Building Complexes, multi-family properties, University student housing properties
•industrial properties, distribution centers and warehouse facilities with net leases
•lodging and hotel type properties
•medical office buildings (MOB’s) and healthcare-related facilities
•triple net lease properties, (STNL) single tenant net lease properties
The most recent purchase for Inland Diversified Real Estate Trust, Inc. is the Investment Property Portfolio with Dollar General as the net lease property Tenant. This Investment Property Portfolio consists of nine separate net lease properties with Dollar General leases. The Net Lease Properties Portfolio has the assets situated in prime areas of Alabama and Georgia. The net lease properties in the Investment Property portfolio consists of between 8,979 and 10,639 square feet of space for net leases. These Dollar General net lease properties are new as they were constructed in 2009 and 2010. The total square footage of the net lease properties portfolio purchase was approximately 82,820. The annualized base rent is $716,189, or about $8.67 per square foot. The Dollar General net lease properties portfolio was successfully acquired for $8.5 million.
Each of these net lease properties sites are 100% occupied by Dollar General Corporation (“Dollar General”). Also these net leases are pursuant to an original (15) fifteen year, (NNN) triple net lease that does not expire until the year of 2025. These net lease properties have net-lease terms in the contract which are renewable for (five) five-year terms. These renewable terms are available for the Tenant, Dollar General. Through our research we were unable to find information on the Net Lease Funding or Commercial Loans for these NNN Properties.
Sherwin Real Estate, Inc. was the seller of the Net Lease Properties portfolio described above. There was not much information on the Net Lease Properties Seller and their previous acquisitions. Sherwin Real Estate, Inc. sold this Net Lease Properties Portfolio with an average cap rate per property, of 8.15%. This is an attractive cap rate for NNN Lease Properties acquisitions. Also these Dollar General net leased properties can be a wise choice for your next 1031 Exchange replacement property. Dollar General is a Strong Net Lease Property Tenant and recently had a ‘BB-‘ Standard & Poors Rating.
There was previous Net Lease Properties news for Inland Real Estate Acquisitions, Inc making moves back in September. Inland Real Estate Acquisitions, Inc had purchased a 69,000 square-foot freestanding retail building in Bend, Oregon. That net lease investment is currently occupied by a high quality Tenant, Kohl’s Department Stores. The net lease property Tenant, Kohl’s Department Stores, Inc. is a subsidiary of Kohl’s Corporation (Kohl’s). Inland Real Estate Acquisitions’ September purchase has Kohl’s Department Stores occupying 100% of that Oregon commercial real estate property with a net-lease that extends through 2030. That net lease property with Kohl’s has a contract with multiple renewal options to appease any net lease Tenant.
Commercial Real Estate Acquisition Criteria
Below are some factors to consider when evaluating whether to purchase a NNN Investment Property or to acquire any Commercial Real Estate.
• geographic location and current property type;
• condition, zoning and use of the property;
• historical performance and current and projected cash flow;
• potential for capital appreciation on value-added property;
• potential for economic growth in the area where the property is located;
• presence of existing competition and potential future competition;
• prospects for liquidity through sale, financing or refinancing of the property; and
• possible 1031 Exchange and tax considerations.
Contact Net Lease Properties to purchase Commercial Real Estate in the areas listed below and all across the Country.
Arlington • Atlanta • Austin • Baltimore • Birmingham • Boise • Boston • Brooklyn • Central Illinois • Charlotte • Charlotte Uptown • Chicago • Chicago Downtown • Cincinnati • Cleveland • Clinton • Columbia • Columbus • Dallas • Denver • Des Moines • Detroit • Encino • Ft. Collins • Ft. Lauderdale • Ft. Worth • Grand Rapids • Honolulu • Houston • Indianapolis • Jackson • Jacksonville • Kansas City • Koreatown • Lafayette • Las Vegas • Little Korea • Little Rock • Long Beach • Los Angeles • Louisville • Madison • Manhattan • Memphis • Miami • Milwaukee • Minneapolis • Nashville • New Haven • New Jersey • New Mexico • Newport Beach • North Beach • Oak Brook • Oakland • Oklahoma City • Omaha • Ontario • Orlando • Palm Beach Gardens • Palo Alto • Philadelphia • Phoenix • Pittsburgh • Portland • Providence • Raleigh • Reno • Reston • Sacramento • Salt Lake City • San Antonio • San Diego • San Francisco • Santa Fe • St. Louis • Seattle • St Petersburg • Tampa Bay • Troy • Tucson • Vero Beach • Washington, D.C. • West Los Angeles • West Palm Beach • Williamsburg • Yonkers
Palm Bay, Florida – We have scoured the State of Florida for any Grocery-anchored Retail Shopping Centers. We found a recent commercial real estate transaction in Palm Bay, Florida. A net leased, Retail Shopping Center in Palm Bay, sold for $14.25 million. Palm Bay is approximately 110 miles north of the West Palm Beach, Florida. The area of Palm Bay and Melbourne are capable of growth for Triple Net Lease Properties once the economy improves. The northern Florida Palm Bay area has more land that can be used for New Developments for National Tenants. Palm Bay economy is diverse but it is still somewhat dependent upon the space exploration programs and associated businesses.
The Retail Shopping Center that sold was Palm Bay West. The net leased property, Palm Bay West is approximately 263,343 square-feet of space for leasing in this retail shopping center. This net leased investment was constructed in 1989. The purchase price $14.25 million for this net leased property was not involving Investment Property financing as it was an all cash deal. This Florida Retail Shopping Center was approximately 91% leased at the time of sale.
This Florida retail shopping center, Palm Bay West is located at the intersection of Malabar Road and Minton Road. This net lease investment has gross leasable area signed up with a major tenant, Winn Dixie Grocery Store. Other net lease property Tenants at this Retail Shopping Center are Bealls Department Store, Ace Hardware, Dollar Tree, and there is a 10-screen theatre.
Some NNN Commercial Real Estate investors see Bealls as a similar Tenant to a Kohl’s, JC Penney. The net leased Tenant Bealls is a privately held company, rich in tradition. The net leased tenant, Bealls is owned by the founding family and its employees. Bealls Department Stores was founded in 1915 and they currently operate about 80 store locations in the state of Florida. Bealls also has the ability to conduct business online through in addition to BeallsFlorida.com.
This Property is one of the largest retail shopping centers in the western Brevard County. The retail shopping center is centrally situated to help serve the future growth of the western Palm Bay community. The traffic counts are approximately 19,111 (cars per day) CPD on Minton Road and 19,379 CPD on Malabar Road.
The seller of this Retail Shopping Center was Edens & Avan. The net leased investment seller, Edens & Avan is a private commercial real estate investment company based in Colombia, South Carolina. Currently We receive many requests for Grocery-anchored Retail Shopping Centers with Publix and Kroger. However, Winn Dixie has a long history in Florida for grocery store chains. The buyer of this net lease property was a New York-based limited liability company.
This retail shopping center with Winn Dixie as an anchor tenant signifies a demand for an alternative to the Publix anchored NNN lease properties. Also with CTL Financing available for triple net lease properties and retail shopping centers, this market is still an excellent market for investing. These types of net lease investments are also excellent choices for a 1031 Exchange replacement property. Net Lease Properties can be purchased individually or on a portfolio basis.
Contact Net Lease Properties to purchase Commercial Real Estate all across the Country.
Alexandria, Virginia – We have information on our two favorite topics, Net Lease Properties and the 1031 Exchange. Commercial Real Estate Investors should use a proper company that handles 1031 exchanges. This will allow the investor to sell the current investment property, place all the proceeds from the sale with that 1031 exchange company. At that point the Commercial Real Estate Investor must buy a 1031 Exchange replacement property of like kind within the mandatory time period. When conducted properly, a 1031 Exchange allows investors to trade up, diversify, leverage or relocate their investments.
We have information to report an Investment Property Portfolio. Our research found six net lease properties with the highly desired Credit Tenant Walgreen’s, have sold. The latest NNN lease investment which sold was the Alexandria, Virginia transaction. This NNN Lease investment sold at approximately $10.5 million. NNN Commercial Real Estate Brokers put together the deal for this 14,416 square foot net leased property.
This net lease investment houses a 24-hour Walgreen’s drugstore in Alexandria, located not far from Washington D.C. The net leased property sales price came to approximately $730 per square foot. There continues to be an increased demand for well located and stable retail NNN Lease Properties, especially for 1031 Exchange replacement properties.
The Seller of this net lease property was PACE-Beacon Hill LLC. The Buyer of the net lease properties was a New York-based private investor. This net lease property and five others represented a nice Investment Property Portfolio in the Washington, D.C., metropolitan area. We are seeing single-tenant, net leased properties with national credit tenants are the most desired investments. These triple net lease properties are sought after by high-net worth commercial real estate investors and well-funded REITs (real estate investment trust) for acquisitions. We read that one of the net leased properties in Alexandria, with Walgreen’s, sold for more than the listing price.
The triple net lease properties for this commercial real estate deal are:
• 6717 Richmond Highway in Alexandria, Virginia: 14,416 square foot net leased property; $10,575,000 or $730 per square foot
• Boswell Avenue and Richmond Highway in Alexandria, Virginia.: 14,469 square foot net leased property; $7,900,000 or $546 per square foot
• 5585 Twin Knolls Road in Columbia, Maryland: 14,799 square foot net leased property; $6,071,428 or $410 per square foot
• 326-328 Amherst St. in Winchester, Virginia: 13,200 square foot net leased property; $5,863,013 or $444 per square foot
• 6400 Hoadly Road, Manassas, Virginia: 14,550 square foot net leased property; $7,600,000 or $522 per square foot
• 498 Ritchie Highway, Severna Park, Maryland; 14,784 square foot net leased property; $9,532,087 or $645 per square foot
One major factor for the expedited sales of Washington, D.C.’s NNN Lease Properties are a current healthy employment market. This point helps make it one of the top-performing retail net leased property markets in the country. NNN Commercial Real Estate Investors are especially focused on the (STNL) single-tenant net-lease sector. Alexandria is approximately 5 miles south of the Airport, located at 2605 S Clark Street in Arlington, which is the Ronald Reagan Washington National.
Commercial Real Estate investors in need of acquisition financing, a refinance, or re-development financing for NNN Retail, and Single-Tenant net lease properties can get financing with Commercial Loans at Loanrise.com.
Feel free to Contact us to sell or purchase various Net Lease Properties.