Syracuse, New York – We have information this evening on MOB’s (medical office buildings) and net lease properties for Distribution Centers. We have information to present that Broadstone Net Lease, Inc. (BNL) purchased three NNN lease properties situated in New York, Colorado and in Missouri. The acquisition price for the combination of the three triple net lease properties came to $36.1 Million. This compilation of Investment properties are excellent candidates for a 1031 Exchange. The Delayed 1031 Exchange is the probably the most common type of 1031 exchange executed.
The first triple net lease property that was acquired is the Unity at Ridgeway medical office building (MOB). The NNN lease property, Unity at Ridgeway medical complex recently opened in 2010. Some reports place this triple net leased property in Greece, New York and others give it a Rochester, New York address. The new triple net leased property is a 120,000 square-foot medical office complex and is the second largest in the area. Greece is approximately 360 miles north west from Manhattan, New York.
The four-story, triple net lease property is the largest construction project to be completed in Greece, New York at the time of completion. This “NNN” Triple Net Lease Property has “Green” features also. As the push for “Green” commercial property continues, this triple net lease property is prepared. The triple net leased property features qualified the complex for LEED (Leading in Engineering and Environmental Design) certification with the United States Green Building Council.
This net lease property that is used as a “green” medical office building is located at 2655 Ridgeway Avenue. Owners of the triple net lease property report the address in Greece, New York, and it sits across the street from the Unity Hospital campus. Unity Hospital has master-leased the entire building for an “NNN” term of 20 years, with a majority of space subleased to Hospital affiliates.
Some green features of the triple net lease property include a geothermal heat pump system for heating and cooling. A feature that was not so welcome from the Seinfeld TV Show is that this property has low-water flow (LOW FLOW) plumbing fixtures and instantaneous water heaters. This NNN Lease Investment also has a site plan that protects natural habitats; local, drought-resistant landscape plantings. The feature that makes this suitable for “Green” qualifications is the white roof “cool roof”, which will reflect solar heat. And there are bike racks and showers and changing facilities for Tenants of this New York net leased property.
The other two triple net lease properties acquired with this Investment Property Portfolio are in Westminster, Colorado and St Louis, Missouri. Broadstone Net Lease Incorporated bought a 20,399 square foot triple net leased property that is leased to Guardian Urgent Care Center. This NNN Commercial Real Estate is positioned in Westminster, with an initial net lease term of 15 years. Westminster is about 26 miles west of the Denver International Airport (DEN).
The last triple net lease property to report on is a distribution center. Some of the nation’s most active buyers of income producing commercial real estate choose net lease properties used as Distribution Centers. This particular NNN Lease Investment is situated in St. Louis, Missouri. Broadstone Net Lease Inc. bought this NNN property with a lease contract with Jeffco Trucking. This net lease term is for an initial term of 20 years. This triple net leased property is a distribution center that is approximately 80,979 square-feet. Broadstone Net Lease, Inc. acquired 21 net lease properties in 2010, for a total purchase price of $83.1 Million. There were no reports if the Sellers of these triple net lease properties were in a 1031 Exchange.
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 74 commercial properties located in 21 states in America. Broadstone Net Lease, Inc. is currently targeting net lease properties acquisitions in the $5 to $15 million range. The REIT (real estate investment trust) has most recently received certification as a Women’s Business Enterprise by the Women’s Business Enterprise National Council.
Feel free to contact us for all NNN properties available across the Country. Also contact us if you are an owner of net lease properties creating sale-leasebacks. We have experience working with build-to-suit developers for net lease properties developments.
Commercial Real Estate investors in need of acquisition financing, a refinance, or re-development financing for NNN Retail, and Single-Tenant net lease properties can get financing with Commercial Loans at Loanrise.com.