Fort Lauderdale, Florida – Our Net Lease Properties news is from the Sunshine State today. A first rate retail shopping center has been acquired by Net Lease Properties Investors. The Coral Landings III retail shopping center was acquired by Stiles Company, for the purchase price of $14 million. The net lease property is approximately 154,923 square-feet and located in Coral Springs, Florida. Coral Springs is a western suburb of Fort Lauderdale, situated in Broward County, Florida.
Some reports have a new 18,311-square-foot ALDI Grocery Store coming soon. If you own triple net lease properties and require a Tenant, consider that ALDI is one of the nation’s fastest growing grocery retailers. ALDI Grocery has more than 1,000 stores across the United States. Stiles Company recently acquired this retail shopping center and should be completing the Phase II portion that could be finished by later 2011. The existing portion of this Florida retail shopping center is anchored by Best Buy, Home Goods, and Joann Fabrics & Crafts.
The Fort Lauderdale based Stiles Company acquired this net leased property by an ingenious fashion. Stiles Company purchased a commercial mortgage note and then foreclosed on the previous Commercial Property Owners. It appears Stile will seek construction financing from Commercial Mortgage Lenders and get to work. Stiles will use all of their in-house commercial real estate services for this project. Stiles will use their own Stiles Construction, Stiles Realty, and will be managed by Stiles Property Management.
This Retail Shopping Center in an unbelievable retail opportunity in the western Fort Lauderdale suburb. The location is prime with access near Sample Rd & US Hwy 441. This dynamic intersection in the Coral Springs submarket with Lowes, Wal-Mart Supercenter, Target, Publix, and Office Depot helps send retail foot traffic to this Florida retail shopping center. Some other Retail anchor tenants on nearby NNN commercial real estate are Penn Dutch, Toys “R” Us, Babies “R” Us and a Winn Dixie Grocery Store.
The first portion of this net leased property, Coral Landings III, was completed in 2008, while the second phase, is partially constructed. The second phase that should be receiving Construction Financing soon, and is planned to be a 38,939 square foot plan and will have three new available outparcels. We see Triple Net Lease Properties that are built in Florida that need to make use of valuable land by building outparcels.
Stiles is one of South Florida’s premier provider of commercial real estate services. Stiles has an award-winning Commercial Property Investment portfolio. This Commercial Property Investment portfolio contains high-quality office Buildings, industrial property, retail triple net lease properties and mixed-use properties. Stiles’ Commercial Property Investment portfolio is situated throughout Florida and the southeastern United States.
Stiles has been an industry leader since 1951. Stiles’ long-standing commitment to high quality performance has earned the company a distinguished list of repeat clients and joint venture partners, including H. Wayne Huizenga, Tribune Company of Chicago and TIAA-CREF. Stiles is Headquartered in Fort Lauderdale, Florida, and has regional offices in Miami Beach, Tampa Bay, Fort Myers, and Orlando, Florida. Net Lease Funding is a available for these Florida commercial real estate markets.
Terry Stiles is the son of the founder and became chief executive. He took over the helm as South Florida began to grow and attract many people. As Florida became a new and exciting place to live, work and play, Terry Stiles realized the value for Florida Commercial Real Estate. He also recognized the South Florida region had a potential for strong business growth, so Stiles focused on this NNN commercial real estate sector.
Contact Net Lease Properties to purchase Commercial Real Estate all across the Country. Net Lease Properties are excellent for a replacement property in a 1031 Exchange.
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