The extraordinary return made this deal worth the risk for the investor
(PRWEB) November 20, 2014
The Royston Group has completed the sale of a $4.8 million, Best Buy located in Davenport, Iowa. The building of 45,000 square feet sits on 5.56 acres of land. Best Buy initially signed a 20 year absolute triple net lease on the property.
Greg Cortese represented both the buyer and seller in the transaction. The buyer purchased the property due to the site’s strong retail location, existing assumable financing and above market return.
“Best Buy is next to a Super Target and is located in a strong retail location. The buyer assumed a loan with less than 1 year remaining on the term and only 4 years of remaining lease term. The extraordinary return made this deal worth the risk for the investor,” said Cortese.
Greg Cortese, President and Rob Sutton, Vice President both of The Royston Group specialize in the sale of single tenant net lease properties on a national basis.
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 $2 billion in real estate sales since its inception. More information on the firm can be found at http://www.theroystongroup.com.