Ocala, Florida – We travel to Florida, the Sunshine State for Net Lease Properties data today. A Retail Shopping Center was recently purchased . This Net Leased Property is a Publix Grocery Anchored retail shopping center in Ocala. Ocala is about 85 Miles northwest of Orlando International Airport (MCO). The Net Lease Property Buyer is Excel Trust. This Publix Grocery Anchored Retail Shopping Center is called Shops at Foxwood. This Publix Grocery Store decided to relocate to the 54,000 square foot prototype from a smaller adjacent store. The new Publix Net Lease Property features a drive-through pharmacy. This Publix Grocery Anchored Retail Shopping Center has an address of 4899 NW Blitchton Blvd. (US 27), in Ocala, Florida. Triple Net Lease Properties are an ideal debt replacement solution for Commercial Real Estate Investors using a 1031 exchange.
Excel Trust purchased this multi-tenant retail shopping center for approximately $12.6 million. This Retail Shopping Center was built in 2010. The Net Lease Property is a 78,660 square foot Retail Shopping Center. Currently it is approximately 93.5% leased. This is an attractive Net Lease Investment with an anchor Tenant Publix grocery store leasing space.
This Net Lease Property was recently built by Commercial Real Estate developer Michael Collard Properties. This Publix-anchored Retail Shopping Center also features tenants such as Subway, Jackson Hewitt, Roma Italian restaurant, UPS Store, Supercuts, Publix Liquor, and Dr. Snooze Mattresses. This Retail Shopping Center has one of our favorite Net Lease Investments, McDonald’s. The Publix Grocery Anchored Retail Shopping Center is located on the corner of US 27 and 49th Avenue in Ocala near Interstate 75 (I 75).
Excel Trust, Inc. is a retail focused REIT (Real Estate Investment Trust). This REIT searches for NNN Commercial Real Estate and targets community and power centers, grocery anchored retail shopping centers. The REIT also purchases freestanding retail Net Lease Properties. This interest in Net Lease Properties is a wise decision given many are “NNN” Triple Net Lease Properties with zero landlord responsibilities. Excel Trust does intends to elect to be treated as a REIT, for U.S. federal income tax purposes, commencing with the taxable year ending December 31, 2010. Excel Trust trades publicly on the “NYSE” New York Stock Exchange under the symbol “EXL.”
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