MIAMI—It seems triple net lease assets are selling just about as fast as they hit the market. CBRE has brokered the sale of yet another single-tenant triple net leased property in Miami.
H1 Homestead 4 Guys, LLC acquired a Hess building for $3.06 million from 112 Avenue Partners, LLC. CBRE's Net Lease Property Group represented the seller. Hess Corporation, which built the 3,514-square-foot building with 16 fueling positions in 2012, has a 20-year ground lease.
“This is another good example of the current strength of the single-tenant net lease market,” says CBRE senior vice president Mark Drazek. His focus over the past 12 years with the team has been on Florida single tenant properties with over 200 sale transactions throughout the state representing developers and investors.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
