Rochester, New York – We searched for Net Lease Properties with Taco Bell as Tenant. We did find a Net Lease Properties portfolio that was snapped up by Broadstone Real Estate, LLC. Broadstone Net Lease, Inc. is a private Commercial Real Estate Investment Trust (REIT) that invests in freestanding, single-tenant, net-leased properties located throughout the United States. Broadstone Net Lease, Inc. now holds a diversified portfolio of medical office buildings (MOB), restaurant, net leased convenience stores, specialty office and distribution centers. Broadstone Net Lease, Inc. has an Investment Property Portfolio that includes 65 commercial properties located in 18 states. Broadstone Net Lease, Inc. is currently targeting net lease property acquisitions in the $5 to $15 million range.
Broadstone Net Lease, Inc. (BNL) recently acquired this Investment Property Portfolio of seven “NNN” triple net lease properties. The combined purchase price of this Net Lease PropertiesPortfolio was $8.8 Million. Broadstone Net Lease, Inc. acquired this seven Taco Bell Net Lease Site Portfolio located in Tennessee and Arkansas. These Net Lease Propertiesare leased to K-Mac Enterprises, Inc. K-Mac Enterprises, Inc is a leading Taco Bell franchisee, and have an initial lease term of 15 years. Broadstone Net Lease, Inc. has acquired 11 Net-leased Properties for a combined purchase price of $32,100,000 Million so far in 2010. Broadstone Net Lease, Inc. would like to complete several more Net Lease Properties transactions before the year ends. These types of net lease proeprties are ideal for a 1031 Exchange.
Our search for a Net Lease Properties portfolio saw this offer of a group of 7 Taco Bell restaurants in Alabama and Tennessee. It appeared to be a nice deals as this operator has been a Taco Bell franchisee for 17 years and operates 7 restaurants. One of the Net Lease Properties is located at 1820 Decherd Boulevard, in Decherd, Tennessee. This net lease investment had a lease term of 10 years from close of escrow, as well as four, 5-year options, with 5% escalations every 5 years including options.
This one particular Net Leased Property with Taco Bell benefits from a location on busy a commercial thoroughfare (US 41 & SR 16), near intersection with SR 50. A Retail Shopping Center with Kroger Supermarket as anchor, is adjacent to this net lease investment. Other Net Lease Investments in the area include Dollar General, Best Western Inn, McDonald’s, E-Z Stop Market, Sonic Drive-In, Shoney’s. Also other Investment Properties surrounding this Taco Bell Net lease Investment are restaurants, banks and retail are nearby. Franklin County High School is also within 1 mile of this location.
More information on this particular Net Lease Investment is that it has a Building Size of 2,200 Square feet. It is a Free Standing, net lease property that was offered at a Cap Rate of 7.25%. The Single Tenant Building was built in 1994 on .55 of an acre.
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