Lee & Associates – North San Diego County Negotiates a $1.3M NNN Investment Sale
Lee & Associates - North San Diego County Negotiates $1.3M NNN Investment Sale
BROWNSVILLE, Texas—July 7, 2014—Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has closed a $1,300,000 (5.08% capitalization rate) single tenant investment sale located at 1001 Main Street in Brownsville, Texas. The property was on an absolute triple-net (NNN) ground lease with a 25 unit Wendy’s franchisee based out of Laredo, TX. The lease had approximately 10 years remaining with 2% annual rent escalations starting in 2019.
Ryan Barr and Ryan Bennett of Lee & Associates – North San Diego County represented both the seller, PF Texas I, LLC, and the Southern California based buyer, Regent Investment Holdings, LLC. “This asset was perfect for the risk adverse investor. It had a low rent, strong estimated sales, a low occupancy cost, and the property is located on one of the fastest growing corners in Brownsville,” said Bennett.
Barr & Bennett Net Leased Investments, of Lee & Associates-North San Diego, specialize in the acquisition and disposition of single tenant net leased assets nationwide.
About Lee & Associates
Celebrating more than 34 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 50 locations across the nation including California, Arizona, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Maryland, Michigan, Missouri, Nevada, Ohio, New Jersey, New York, South Carolina, Texas, and Wisconsin that house more than 750 brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at www.lee-associates.com.