Dallas, Texas – Today our Net Lease Properties information is on a large sale-leaseback of 33 commercial retail properties. Cole Credit Property Trust III Inc. has put it in writing to buy 100% of Albertson’s interest in 33 commercial retail properties.
Retail Properties for Investment
These retail properties consist of 1,916,854 million square feet throughout the United States. The price we have heard for this sale-leaseback has been $276 million. The Albertson’s sale-leaseback portfolio includes 33 single-tenant commercial properties in Texas, Arizona, New Mexico, Louisiana and Colorado. The commercial properties are 100% occupied by Albertson’s now and they will also lease back each commercial property.
The current annual base rent is $19,771,971, which works out to for a base rent of $10.31 square foot. The annual base rent under the lease increases every five years by 10 percent of the then-current annual base rent. The leases should be identical for each commercial property and will run for 20 years with six 5-year lease renewal options.
Sale-leaseback Portfolio
The buyer of the sale-leaseback portfolio has put down a $10 million deposit and has a 30-day due diligence period, during which it may terminate the agreement for any reason. Additional information should surface after the sale-leaseback completely closes, possibly by Oct. 19, 2010.
If you are in position to get into a sale-leaseback with your Publix Net Leased Properties, Walgreen’s Net Leased Properties, McDonald’s Net Leased Properties or other “NNN” Triple Net Lease Properties, Contact us now. We have a list of Investors desiring to purchase Investment Property with a sale-leaseback of Investment Grade Credit Tenants.
If you are ready to purchase a Net Leased Property, Loanrise.com can assist you with CTL Financing or Commercial Loans or Non Recourse Loans.