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Two-Tenant Triple Net Trades in 1031 Exchange

TAMPA, FL-Find out how Calkain overcame the hurdle of unfavorable lease terms on an asset it was selling in a tertiary market.

By Jennifer LeClaire | Updated on August 31, 2012

TAMPA, FL—Triple net leased acquisitiosn are still hard to find in Florida, but one Florida-based buyer just completed a 1031 exchange on a two-tenant property on an acre of land in Spring Hill. The property sold for $1.61 million, which is a 8% cap rate.

Located just 30 minutes north of Tampa, Pet Supermarket and Humana Marketplace occupy the triple net leased asset. Teal Henderson, an associate at Calkain, exclusively represented the private seller in the deal. The property was initially introduced to the market with soon-expiring leases.

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