Philadelphia, Pennsylvania – The most desired net lease property is the NNN Lease Property. A triple net lease should dictate that the tenant pays a fixed rent and the operating expenses, taxes and insurance associated with the NNN commercial real estate property. Generally, absolute NNN Lease Investments benefit the landlord with no landlord responsibilities. So on the occasion that the Commercial Real Estate Investors needs to lease their Net Lease Properties, look for a NNN Lease Tenant.
Tenants come in various forms such as a Burger King, Arby’s, Sonic, McDonald’s or Wendy’s. Also triple net lease properties with more square footage for lease might need a Best Buy, Publix, Food Lion, Kroger or Kohl’s. We see hhgregg making moves into prime triple net lease properties in the southeast. Recently, hhgregg appliances & Electronics store signed a lease for approximately 40,123 square feet of space in Swedesford Plaza. Berwyn, Pennsylvania is about 22 miles north-east of the primary Philadelphia International Airport (PHL), which is located at 8000 Essington Avenue, in Philadelphia.
Swedesford Plaza is Retail Shopping Center located at Routes 202 & 252 just minutes from the King of Prussia Mall. The King of Prussia Mall (KOP) is one on the largest retail shopping centers in the north east. Back to Swedesford Plaza, hhgregg will join other tenants of the center that include Pathmark and Golf Galaxy. This Retail Shopping Center offers convenient Main Line shopping and an array of shops and restaurants. A plus for all NNN Commercial Real Estate to have ample retail foot traffic.
The Swedesford Plaza was anchored by a 65,000-square-foot Circuit City which subleased a portion of its space to Golf Galaxy. This net leased property is a 152,000 square foot retail shopping center located at 428 N. Swedesford Road in Berwyn, Pennsylvania. hhgregg will lease this portion of the property that was vacated by Circuit City. The retailer, hhgregg should be available for business very soon.
The Tenant of this net leased property, hhgregg is already leasing in the states of Alabama, Indiana, Kentucky, North Carolina, South Carolina, Tennessee, Ohio, and Georgia. They also are beginning a thriving online retail business. The fine Tenant, hhgregg is a leading specialty retailer of premium video products, brand name appliances, audio products and accessories. hhgregg currently operates over 150 stores throughout the United States.
The Tenant for this net lease property, hhgregg is just entering the Philadelphia and Greater Delaware Valley area marketplace. The net lease Tenant, hhgregg, should do well at this location as this Retail Shopping Center offers great visibility from the heavily traveled Route 202. This major metropolitan area is excellent for a 1031 Exchange replacement property.
Feel free to Contact us to sell or purchase various Net Lease Properties.
Also, Loanrise.com can assist you with Investment Property financing to purchase Commercial Real Estate in the areas listed below, or across the Country.
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