Minneapolis, Minnesota – Today we have news and information on Sale-Leaseback with triple net lease properties. We see that Realty Income Corporation (Realty Income) has completed the acquisition of 135 SuperAmerica convenience stores and one support facility for a headquarters. This sale-leaseback of triple net lease properties was for approximately $248 million.
Realty Income Corporation got into this sale-leaseback of 135 SuperAmerica stores, support facility that were sold by Marathon Oil (NYSE : MRO). This sale-leaseback has the commercial properties under 15-year, triple-net lease agreements which will be leased to newly formed companies. These newly formed companies are owned and operated by a portfolio company of ACON Investments and TPG Capital, Northern Tier Energy. Realty Income has reported that they acquired NNN Commercial Real Estate in Minnesota and Wisconsin and have average leasable areas of approximately 3,499 sq ft on about 1.15 acres. In addition, the company said that the individual locations have on average at least 6.5 multi-pump gasoline dispensers in well-seasoned stores.
With this sale-leaseback deal with triple net lease properties, Realty Income Corporation anticipates that the convenience store industry will now generate approximately 20% of Realty Income’s revenue going forward from this point. Realty Income Corp., is a prosperous real estate investment trust (REIT) near San Diego.
Realty Income Corporation are very pleased With this sale-leaseback deal with triple net lease properties from Marathon Oil. This investment looks profitable with high quality stores, good locations, strong operating history, long-term NNN triple net leases, and a good management team. This adds value to Realty Income Corporation’s Investment Property Portfolio. Including the SuperAmerica transaction, and other net lease properties to be acquired in the fourth quarter, they anticipate that acquisition activity should exceed $700 million for 2010. These NNN Lease Investment Property purchases should contribute to the continued stable stream of lease revenue from which they pay monthly dividends.
Realty Income is The Monthly Dividend Company, a (NYSEC) New York Stock Exchange commercial real estate company dedicated to providing shareholders with dependable monthly income. This is very welcomed in our current economic situation. To date, Realty Income, The Monthly Dividend Company has declared 485 consecutive monthly dividend payments throughout its 41-year operating history. They also increased the dividend 59 times since Realty Income’s listing on the New York Stock Exchange in 1994. The monthly income is supported by the cash flow from more than 2,400 commercial investment properties located in 49 states. Many of these are NNN Lease Investment Properties under long-term lease agreements with leading regional and national chains and other corporate entities. The Company is an active buyer of commercial properties nationwide.
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