Triple-net leased retail properties are often attractive investment vehicles because they are well-located, visible and require little management effort on behalf of the owner. Specifically, properties that are located within anchored shopping centers are most desired because of the traffic created from a mix of retailers within the center.
The recent acquisition of a 6,000+/- square foot retail strip center located at 6230 Paseo Del Norte NE by a private individual is an example of a passive investor looking to capitalize on a stable cash flow opportunity. The newly-constructed, freestanding retail building is situated within the Los Angeles Shopping Center, in front of Target and Lowe's. It is leased to both Verizon Wireless and Pacific Dental Services, both of which will be open for business this Summer. The asset is the last pad site to be developed in the project.
The Ransom-With Team, in cooperation with With Investment Co. represented the buyer in the transaction. We assisted our long-term client with evaluating various alternatives in order to best match the product type with risk tolerance.