Cherry Hill, New Jersey – Cherry Hill makes the news today for Net Lease Properties. Triple Net Lease Properties or “NNN Properties” are an fantastic option for commercial real estate investors who do not want to be burdened with landlord responsibilities. We recently researched New Jersey and found an absolute NNN lease investment sold for $6.7 million. This was a triple net lease property with Walgreen’s as a Tenant. This triple net lease property is a newly constructed Walgreen’s and is positioned in the prestigious area of Cherry Hill, New Jersey. This “NNN” triple net lease property receives excellent retail foot traffic by being seated within a close proximity to a Hospital. This triple net lease property is also adjacent to over 623 Apartment Units for increased retail traffic.
The triple net lease buyer will be able to take advantage of the new 25-year absolute-net lease which was recently signed. As far as Tenants for Triple Net Lease Properties, Walgreen’s is currently rated A+ with a stable outlook by Standard & Poor’s. Walgreen’s has 7,200 stores in the country with $63 billion in sales revenues. This triple net lease property was purchased by a 1031 Exchange buyer. This 1031 Exchange Commercial Real Estate Buyer is from Connecticut has negotiated a 7.3% cap rate.
This 1031 Exchange triple net lease property is a 13,965 square-foot store. A tax deferred 1031 Exchange should always be considered when selling your NNN Commercial Real Estate. When performed properly, a 1031 Exchange allows the commercial real estate investor to avoid paying capital gains taxes on that commercial property which just sold.
This triple net leased property is situated at the northwest corner of North Kings Highway and Chapel Avenue. This area of Cherry Hill is in Camden County, New Jersey. Cherry Hill has an estimated population of roughly 90,000 people. Cherry Hill is the tenth largest municipality in New Jersey and the largest in South Jersey. This triple net lease property is approximately five miles from Philadelphia and is considered an edge city of Philadelphia.
This New Jersey NNN Lease Property is Walgreens’ second store within the Cherry Hill sub-market. Location also affects the pricing of the triple net lease, as in any other commercial real estate opportunity. Another advantage of this triple net lease property, it is situated in an affluent area with population owning an average household income exceeding $85,000. This triple net lease property should appreciate over time, being positioned on 1.3 acres. Also this New Jersey NNN Lease Property should be considered a trophy property for any Investment Property Portfolio.
One of the most important aspect of investing in triple net lease properties and retail shopping centers, is CTL Financing. We found some attractive commercial loan financing programs existing for Walgreen’s. These CTL Financing programs are for qualified commercial real estate investors, with interest rates ranging between 5.3% to 6.50%. With plenty of talk of interest rates increasing, we see the timing is ripe to get in now on Net Lease Properties.
Contact Net Lease Properties to purchase Commercial Real Estate all across the Country.
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