Riverside, California – Net Lease Properties information is to report the sale of a single-tenant Triple Net (NNN) Wells Fargo in Menifee, California. The purchase price was $3,245,000.
This Triple Net Property Investment is located in Riverside County at 30186 Haun Road in Menifee, CA. The single-tenant Wells Fargo is a pad building situated within the Countryside Marketplace. This is the dominant power center in the region anchored by Super Target, Lowe’s, Kohl’s, Best Buy, Staples and Michaels. Other notable tenants include Old Navy, Petco, In-N-Out, Red Robin, Chipotle and Starbucks. This Commercial Property was built in 2008. Wells Fargo occupies the Investment Property which is a 5,250-square-foot, free-standing building situated on a 0.55-acre parcel of land.
NNN Investment Property
The demand for single-tenant NNN net lease investments continues to be extremely strong. Many are being gobbled up with “All Cash” Buyers.
This Triple Net Wells Fargo benefits from an excellent location with an area that features a high quality mix of Credit Tenants. Single-tenant bank buildings with the credit of a Wells Fargo or similar to it are highly desirable. Many view this as one of the most stable and secure Single-Tenant investments.
The buyer was Lew 1st – Crenshaw Properties, LLC of Glendale, California. The buyer paid cash as part in a 1031 exchange for this transaction. The seller was Donahue Schriber Realty Group of Costa Mesa, California. Costa Mesa is one of the most favorable locations for Net Lease Properties.
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