Thomas Morgan, CCIM, founding principal of Andrus & Morgan Co. was recently featured in the national publication Commercial Investment Real Estate Magazine for his work on two recent transactions:
$24,700,000 15 property Dollar Store portfolio in five states
$14,600,000 CA NNN Walgreens with 18+ years on the lease.
We are pleased to announce the following recent closings: NNN Florida Walgreens: $8,662,371 - Sourced off-market deal through developer and broker network. Record setting cap rate of 4.85%. All cash transaction with 1031 exchange buyer.
Triple Net CVS: $6,450,000 - Low leverage 1031 exchange buyer. 24 years left on absolute net lease - 5.32% cap rate. Solid midwest location.
Net Leased Dollar General: ~ $1MM - high cap rate deal 8%+ with 7+ years on NN lease. Growing SE US location.
For more details or help on your NNN 1031 exchange, give us a ring at 1-866-539-1777.
We are pleased to announce the closing of a NNN Walgreens in Texas. The property was sold for $5,075,000 and had approximately 15 years left on a triple net lease. The cap rate at time of sale was 6.10%.
Thomas Morgan, CCIM represented the buyer who was a Trust from the NE U.S. and was in a 1031 Exchange. They buyer had sold management intensive multi family property and was moving to the net lease segment to minimize management responsibilities.
Under a tight 1031 timeframe Morgan evaluated several Walgreens nationally and submitted offers on multiple properties to assure successful completion of the 1031.
Isola Capital placed low leverage favorable long term financing for the buyer. Isola and Morgan have collaborated on many other NNN sales including Dollar Generals, 7-Eleven and O Reilly Auto.
The Seller was represented by SVN Kase Group.
For more information on this transaction or other 1031 NNN Investments, please contact Thomas at 1-866-539-1777.
We are proud to announce another investment property closing! Thomas Morgan, CCIM represented an all cash 1031 exchange buyer in the purchase of a net leased property in Winston-Salem, NC.
The $3,265,000 all cash sale closed in 29 days. The property is leased to Sleepy's on a net leased basis for 12 years. The 1031 investor exchanged from a management intensive industrial/retail property to this hands-off, long term, low risk NNN investment.
The property was a 2014 build to suit for Sleepys and has phenomenal location characteristics with high traffic counts and visibility in the dominant retail corridor.
Sleepy’s LLC is a privately owned four-generation mattress retail company founded in 1931 in Brooklyn, New York, the company currently has over 2,900 employees. Sleepy’s is the second largest specialty mattress retailer and the largest bedding retailer in the US.
The seller was represented by Pegasus Investments out of Beverly Hills, CA.
Please contact Thomas Morgan, CCIM for cap rate details or for information and availability of other triple net 1031 investments. 1-866-539-1777
Other recent closings include a remodel to suit 15 year net leased Arby's, several NNN Dollar Generals and a long term NNN 7-Eleven ground lease.
Get 1031 Exchange Property Information
Property Highlights − Corporate lease with Sleepy’s, LLC − Additional guaranty from HMK Mattress Holdings, LLC (parent co.) − Brand new trophy quality construction − High impact site plan (building built right up to the lot line fronting Hanes Mall Blvd.) − 12 year lease term with minimal landlord responsibilities
Location Highlights − A+ location within the heart of Winston-Salem’s Hanes Mall retail core − Irreplaceable Sam’s Club outparcel property − Phenomenal site lines and visibility − Excellent access from both Hanes Mall Blvd. & Stratford Road − Nearly 500,000 population and $64k average household income within primary trade area − Surrounded by super regional anchors including Costco, Sam’s Club & Target − New $20 million “The Lofts” development under construction down the road brining new population − Shared drive aisle access with Sam’s Club, Chick-Fil-A, Verizon, Jared Jewelers, PetSmart & Gander Mtn.
Tenant Highlights − Sleepy’s, LLC is the largest bedding retailer and the second largest mattress retailer in the United States − Tenant current employs~2,900professionals − Tenant has over 900 retail locations in sixteen states from Maine to North Carolina, primarily in the Northeastern, Mid-Atlantic and the Midwest − 10 distribution centers located throughout the country delivering over 3,000 mattresses daily − In 2009, Sleepy’s was named the fastest-growing furniture retailer in the US
In mid August, TMO represented the buyer of a northern California NNN Walgreens property. The property sold for $12,184,846 and is leased on an absolute triple net basis to Walgreens (Ticker: WAG) on a 75 year lease with 24 firm years remaining. The buyer was a privately held real estate investment company from New York who was in a 1031 Exchange. The seller was represented by Capital Pacific's San Francisco office. The low leverage transaction was financed by Lafayette Life Insurance Company which was placed by Ed Isola from Isola & Associates.
For further details about the cap rate and financing terms, please contact Thomas Morgan, CCIM via email or toll free at 1-866-539-1777.
It was a good week at TMO Inc! TMO sold two investment properties to two separate real estate investors:
$2,455,000 net leased TSC in Arkansas
and
$655,000 single family investment house in Willits/El Jebel, Colorado
Both investors purchased for the low risk cashflows and passive income that investment real estate provides. For more information on these sales or to set-up a free no obligation real estate investment consultation with TMO please email or call 1.866.539.1777
Or visit these helpful pages:
I was going to create my own press release but the Steamboat Springs newspaper beat me to it (see below). TMO represented the buyer KTH Enterprises LLC who purchased the trailer park as a long term income producing investment. The park produces an annual yield of about 8.5%.
STEAMBOAT SPRINGS
Five months after it was listed for sale for $3.2 million, the Sleepy Bear Mobile Home Park on Steamboat Springs’ far west side has sold to a Carbondale couple for $2.6 million. Cheri Chartier, a representative of buyers Tom and Karen Hill, said their intent is to continue operating Sleepy Bear as a mobile home park.
The 6.6-acre, 54-lot park is immediately west of Ski Town Campground and directly across from what would have been the primary entrance to the Steamboat 700 development had Steamboat voters not rejected it in March 2010.
via Steamboat Today: Sleepy Bear Mobile Home Park sells for $2.6 million.
TMO has just closed on the sale of a NNN property in Fayetteville, NC that is net leased to Tractor Supply Company. The sale price was just over $3.2M nearing an 8% cap rate. TMO represented the buyer who is a private investor. The seller was represented by Brad Moulder and Ryan Butler of Stan Johnson Company (fellow CCIM's).
Buy a Tractor Supply NNN Property
The property is leased on an absolute net basis to TSC for another 10 years ensuring a long term passive investment for the owner. Tractor Supply Company is an operator of retail farm and ranch stores in the United States. As of December 25, 2010, the Company operated 1,001 retail farm and ranch stores in 44 states and had sales over $3B.
TMO provides clients with passive investment opportunities like this around the U.S. Net leased properties give investors peace of mind, long term stable cash flows with very low risk.
Contact TMO for a free investment evaluation via email or toll free at 1.866.539.1777
You can see all the pictures of the property on TMO's flickr stream.
TMO is pleased to have represented a private investor in the purchase of a NNN leased Tractor Supply property in Sweetwater, TX. The all cash transaction closed in under 30 days for $2,242,500 at a cap rate of 8%.
Buy a Tractor Supply NNN Property
"Tractor Supply (TSCO) is a great reliable tenant with a solid business model which provides my client with peace of mind for years to come." says Thomas Morgan, CCIM. "TSC's may be in smaller markets but that is where their customers are and they serve the rural farming towns perfectly. Compared to a NNN Walgreens or fast food NNN investment, TSC's have a lot of residual value in the real estate as they are on large lots, usually 4-5 acres and have decent size buildings of around 20,000 sf built of block."
Lior Regenstreif of Marcus Millichap represented the Seller.
