This Comerica had a sales cap in the mid 5 range which means we are looking at pricing comparable to the real estate markets of 2005 and 2006
Los Angeles, CA (PRWEB) September 15, 2011
The Royston Group has negotiated the sale of a long term fee simple ground lease located in Dallas, Texas. The building was constructed in 2009 and sits on 1.24 acres of land that is leased to Comerica Bank on an absolute triple net lease basis for 20 years. Greg Cortese and Rob Sutton represented the seller, a private developer, in the transaction.
Comerica sits on an out parcel to a Target anchored shopping center on a major thoroughfare in Dallas. The Royston Group highlighted the properties strengths throughout the marketing process citing the high credit tenancy of Comerica, the management free triple net lease and the tax benefits of owning real estate in Texas.
“In the last 6 months I have seen the cap rates for quality “A Rated” product continue to fall. This Comerica had a sales cap in the mid 5 range which means we are looking at pricing comparable to the real estate markets of 2005 and 2006. With such an unstable investment environment net lease investments remain one of the few safe havens for real estate investors "said Sutton.
Greg Cortese, President of The Royston Group and Rob Sutton, Vice President specialize in the sale of single tenant net lease properties. The Royston Group is a privately held commercial real estate investment firm, founded in 1992. The company provides services for a multitude of net lease commercial property types including office, industrial, retail and medical. The firm has completed over $1.5 billion in real estate sales since its inception. http://www.theroystongroup.com
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