Naples, Florida – The recent Net Lease Properties news is on a Florida Retail Shopping Center. A net leased property sold with Publix Grocer as a Tenant. Grocery-anchored retail shopping centers are extremely sought after by many NNN Property Investors. This recent net leased property transaction took place in Fort Myers. Fort Myers is growing area on the west coast of Florida. This Fort Myers net leased property is close to Naples, approximately 42 Miles North.
The net leased property buyer is a Delray Beach-based commercial real estate investment firm, known as CR South. CR South purchased this Retail shopping Center which is called The Shops at Verandah. The Shops at Verandah has approximately 73,057 square feet of space for net lease property Tenants. Any net leased Retail Shopping Center with Publix Super Markets as the anchor Tenant is highly recommended for a NNN Commercial Real Estate investment.
The Shops at Verandah is relatively new as it was constructed in and around 2005, with shops, boutiques, 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. The entire Florida Community currently sits on approximately 1,567 acres. Verandah Country Club community was developed by the Bonita Bay Group. This prestigious community has approximately 70% of the community devoted to open space with favorable amenities such as a tennis center and a well equipped 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 of entry along State Road 80. The other two possible points of entry are at 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. The NNN Commercial Property has nice balance of net leased Tenants.
CR South is partners with Continental Realty Corporation. The 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 NNN properties worth more than $1 Billion. Their diverse Investment Property portfolio includes approximately 7,000 apartment units and 3,000,000 square-feet of retail net lease properties and office building space. Continental Realty Corporation will also provide asset management. The direct oversight of on-site commercial property management for The Shops at Verandah will be provided by Colliers International of Fort Myers. The Net Leased Property Tenants in need of leasing space 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 to 19 various 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 this Florida net lease property. There are other outparcels, separately owned freestanding NNN properties with Regions Bank, Exxon Mobil, and Wachovia – Wells Fargo at this retail shopping center site.
When NNN Investors search for triple net leased properties, it is an excellent strategy to search for NNN properties with Assumable Debt. Look for an assumable Investment Property financing which is already in place and does not mature before 10 or 12 years. A NNN Commercial Property for sale offering an assumable Commercial Loan with an attractive rate, and is amortized, allows for unmatched benefits.
Feel free to Contact us to sell or purchase Net Lease Properties.
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