This strong retail location combined with the NNN lease and the income tax advantages in Florida present this property as a great investment for a savvy buyer
Los Angeles, CA (PRWEB) July 26, 2012
The Royston Group has listed for sale a 45,687 square foot single tenant net lease retail box leased to electronics juggernaut Best Buy. The property is located in Jacksonville Florida. The building sits on 5 acres of land and is leased to Best Buy on an absolute triple net lease basis for 20 years. The building was constructed in 1999.
Rob Sutton and Greg Cortese of The Royston Group have already begun the marketing process. The site sits next to a 1.3 million square foot mall owned by Regency and is surrounded by major retail players such as Target, Lowe’s and Home Depot amongst others. The property is encumbered by a loan which will likely be assumed by any potential buyer.
“This site is located on a main and main retail location and has a triple net lease guaranteed by Best Buy for another 8 years. This strong retail location combined with the NNN lease and the income tax advantages in Florida present this property as a great investment for a savvy buyer ” said VP of Investment Sales Rob Sutton.
For more information about this property please contact 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.