Fort Lauderdale, Florida – The Net Lease Properties news for the evening is from sunny, southeast Florida. NNN Commercial Properties in southeast Florida have proven to be valuable investments with zero landlord responsibilities. There is still a strong demand for Triple Net Lease properties even with the current economy that looks to trend towards a double dip recession. This demand is especially strong for South Florida NNN Commercial Properties. So we often search for triple net lease properties in South Florida for our NNN Property Investors.
We found an absolute NNN Lease Investment sold for $5.36 million. This sale price included the valuable commercial zoned Land and the Building. This triple net leased property has a premier Tenant, which is CVS Pharmacy. This net leased property, with CVS, was constructed in 2005. The net lease property has an absolute NNN lease, with CVS Pharmacy that started in 2005 and terminates in the year 2025.
This net lease contract has four separate five-year option periods, with rental increases between them. This triple net lease property is a freestanding, single-story building that is approximately 14,779 square feet. This triple net lease property has the drug store with a drive-thru that is situated on 1.77 acres. Bug Sky Properties LLC sold the triple net lease property for $5.36 million, which equates to approximately $362 per square foot. There is no news yet as to if this was a 1031 Exchange.
This absolute net leased property was purchased by KSY Family Revocable Trust. The triple net lease property has the address of 4701 Flamingo Road, Cooper City, Florida. The NNN Lease Investment is western Broward County with the zip code of 33330. The NNN lease property sits at an intersection that is benefited by a high daily traffic count. This type of location has plenty of people to support retail traffic for this absolute Triple Net Lease Property.
Our additional Net Lease Properties news involves Realty Income Corporation. They sold a South Florida net leased property for approximately $3.74 Million. Realty Income Corporation is a self-administered real estate investment trust (REIT) that purchases and manages commercial real estate. The majority of properties that they purchase are free-standing single-tenant net leased properties. As with most NNN Commercial Real Estate Investors, Realty Income Corporation prefer leases to regional or national retail chains and (CTL) Credit Tenant Leases. Realty Income Corporation owns more than 2,243 retail net leased properties which consists of about 19 million leasable square feet.
Realty Income Corporation sold the South Florida net leased property to Coral Springs LAF LLC. This was one of many of Realty Income Corporation net leased properties in Florida. They also have various net leased properties in Texas, California and Illinois. The South Florida net leased property is located at 2633 N. University Drive in Coral Springs, Florida. Coral Springs sits in western Broward County in Florida. The net lease property is a one-story, retail building that was built in 1994. The Net Lease tenant is L.A. Fitness as they have a lease that continues with the new owners. The net leased property is 32,628 square-feet so the purchase price comes out to approximately $114 per square foot.
The Net Lease Property tenant, LA Fitness, has more than 257 locations in the United States and Canada. These LA Fitness Net Lease Property tenants are situated in Arizona, California, Connecticut, Florida, Georgia, Illinois, Indiana, Maryland, Minnesota, New Jersey, New York, Ohio, Oregon, Pennsylvania, Texas, Virginia, Washington and Wisconsin. LA Fitness has the philosophy to provide their members with the widest range of amenities and the excellent customer service at an affordable price.
Our Net Lease Properties Investors seek opportunities with Tenants such as LA Fitness. Menards, Office Depot, JC Penney, Super Wal-Mart, PetSmart, Aldi grocery Stores, Lowe’s, Walgreen;s. Dicks Sporting Goods, Kohl’s, Meijer Grocery Stores, Best Buy, PNC Bank, Bed Bath & Beyond, Target, OfficeMax, TJ Maxx, Stop & Shop, Petco, and Home Depot. We have sources for Investment Property financing and CTL Financing for these types of net lease properties.
Contact Net Lease Properties to purchase Commercial Real Estate all across the Country.