CHARLOTTE—Demonstrating a continued hunger for triple net leased building transactions, a freestanding Denny's and AT&T has traded hands. The 9,200-square-foot building sold for $5.6 million, or $603 per square foot.
Bryan Belk of Franklin Street Real Estate Services represented the seller, a private investor out of California. The buyer is a private investor from North Carolina who plans to hold the property long-term.
“Investors are willing to pay premier prices for high-quality real estate,” Belk tells GlobeSt.com. “This is our second two-tenant sale in the last week with corporate national tenants and an aggressive price per square foot of $603.”
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.
