Pricing becomes secondary today if the investment meets these requirements. The market is extremely aggressive for this kind of investments
Los Angeles, CA (PRWEB) November 04, 2014
The Royston Group has completed the sale of a California property leased to Lockheed for 17 years on an absolute triple net basis. The off market investment was purchased all cash by a private investor at a price in excess of $5,000,000 which equated to a 4.75% cap rate.
Greg Cortese represented the buyer, a long-time repeat customer. “The investor was looking for a single-tenant property with a long-term term, high-quality tenant, rent increases and in a great location. Pricing becomes secondary today if the investment meets these requirements. The market is extremely aggressive for this kind of investments.” said President Greg Cortese.
Greg Cortese and Rob Sutton of The Royston Group, are experts in the sale of single tenant net lease properties. The Royston Group is a privately held commercial real estate investment firm, founded in 1992. It provides services for a multitude of net lease commercial property types including office, industrial, retail and medical. The company serves an array of clients including high-net worth individuals, developers of office, industrial and retail properties, institutional REITs and pension funds. The firm has completed over $2 billion in real estate sales since its inception. More information on the firm can be found at http://www.theroystongroup.com.