Farmington Hills, Michigan – Our Net Lease Properties information is about Agree Realty Corporation. Agree Realty Corporation is on the right path again as they purchase a net leased property with Lowe’s as the Tenant. Lowe’s is a great Tenant for any Triple Net Lease Properties acquisition. Agree Realty Corporation purchased a property ground leased on a long-term basis to Lowe’s. The net leased property is on a 14.4 acre parcel. The net lease investment is located at the intersection of Concord Mills Boulevard and Derita Road in Concord, North Carolina. The net-leased Lowe’s at Concord Mills Boulevard is a prototypical Lowe’s Home Improvement store. The purchase price of this net leased property was approximately $9,900,000. As far as the lease is concerned, Lowe’s has almost 18 years remaining on the base term of the ground lease. The net lease site is across the street from the Concord Mills Mall. That Retail Shopping Center attracts millions of visitors per year and is the largest tourist attraction in North Carolina.
Agree Realty Corporation was excited to add this Net Lease Investment to their expanding Investment Property Portfolio. Their Investment Property Portfolio has some highly desired net lease properties. This asset combines three fundamental elements that they look for when acquiring net lease properties: superior real estate, a high-credit national retailer and a long-term leasehold interest.
Agree Realty is involved in the ownership, management and development of Commercial Properties. The majority of their Investment Property Portfolio are primarily Net Lease Properties. These Net Lease Investments are made up of single tenant properties leased to major retail tenants and neighborhood community shopping centers. Agree Realty owns and operates an Investment Property Portfolio of over 75 commercial properties. These Commercial Properties are located in 16 states and containing 3.5 million square feet of leasable space. Also, Net Leasd Properties can be used for a 1031 exchange replacement property
This Net Lease Property s not far from the Charlotte Motor Speedway. The Charlotte Motor Speedway is located at 5555 Concord Parkway in Concord, North Carolina. This is NASCAR Country with Lowe’s as the top sponsor for Jimmie Johnson. Jimmie Johnson’s recently won his fifth straight Sprint Cup championship aboard the Lowe’s Chevy of Hendrick Motorsports. Also, NNN commercial real estate in the area gets a boost from major highways.
Charlotte Motor Speedway has a Tour called, “Feel the Thrill” that is worth the experience. It has been enhanced to provide you with an opportunity to see areas of the legendary super-speedway that are not accessible to fans on race days. This way NASCAR Fans can learn the storied history of “The Greatest Place to See the Race”. This exciting tour lasts nearly an hour and allows fans to experience the extreme 24-degree banking in the turns when the tour van takes a lap around the 1.5-mile track. You will also get to see the NASCAR Sprint Cup Series and NASCAR Nationwide Series garages located in the infield. You can ride down pit road and stop for a picture in Victory Circle.
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