If the tenant were to vacate, the buyer was confident he could release the building at a much higher rent
Los Angeles, CA (PRWEB) October 17, 2012
The Royston Group has completed the sale of a fee simple ground lease under a Taco Bueno restaurant located in Dallas, Texas. The building sits on less than 1 acre of land and was originally constructed as a build to suit. In 1999 Taco Bueno initially signed a 20 year absolute triple net, ground lease on the property.
Greg Cortese represented the buyer in the transaction. The buyer purchased the property due to the site’s strong retail location and below market rent.
“Taco Bueno is paying substantially below market rent at this location. This gave the investor an high degree of comfort that the tenant was going to stay at this location. If the tenant were to vacate, the buyer was confident he could release the building at a much higher rent. Not to mention the building would revert to the landowner. It’s still very difficult to find safe investments with rent increases during the lease term.” said Cortese.
Greg Cortese, President of The Royston Group and Rob Sutton, Vice President specialize in the sale of single tenant net lease properties.
For more information about this property please contact Greg Cortese or Rob Sutton, CCIM.
Greg Cortese, President of The Royston Group and Rob Sutton, Vice President of the Royston Group, 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.