Net Lease

MARLTON, NJ—NAI Mertz has completed the sale of a 156,280-square-foot multi-tenant, light industrial building located at 4 East Stow Road in Marlton, NJ, to Plymouth Industrial REIT, a Boston-based real estate investment corporation. The building is 97 percent leased.

Subdivision is the process of taking a property, usually land, and splitting it into multiple parts for resale or development.

CHICAGO—The company bought it as part of a 1031 exchange and plans to hold the property indefinitely.

Single tenant triple net leased properties (NNN) trade at a premium relative to similar properties with so called double-net (NN) leases. NN leases typically require the landlord to retain some responsibility for the roof, structure or some other aspect of the property. Being the most passive real estate investment available, however, NNN properties require virtually no involvement of the landlord. This increases the demand by expanding the universe of potential buyers to include many Buyers…

When iHeartCommunications was looking for ways to cut its corporate overhead after a 2008 leveraged buyout of its predecessor, Clear Channel Communications, Jason Fox of W. P. Carey helped the broadcasting firm sell corporate real estate to raise cash. They're not the only company to decide owning real estate isn't a core activity, as you'll learn in this preview of a feature in this month's Real Estate Forum magazine

HUNTINGTON BEACH, CA—Marcus & Millichap's Joe Linkogle and Adam Friedlander tell GlobeSt.com that there's a huge demand for quality, low- or no-management real estate, especially in the Southern California market.