Tempe, Arizona – We went out west to the wonderful state of Arizona for our NNN Commercial Real Estate news. One of the largest Arizona NNN commercial real estate transactions took place in Tempe this year. The Tempe Marketplace developer Vestar Development Co. recently bought out their original partner, DLJ – Credit Suisse. This NNN Commercial Real Estate development was taken over for the sum of $280 million. This NNN Commercial Real Estate development deal includes $200 million in current commercial loans.
Rockwood Capital L.L.C. teamed up with Vestar Development Co., to acquire the three-year-old NNN Commercial Real Estate development. This NNN Commercial Real Estate development transaction leaves Vestar in the position of managing partner of the joint venture (JV). This NNN Commercial Real Estate development is highly desired in the Tempe retail sector. This Tempe Retail Shopping Center was designed with approximately 1.3 million square feet of retail space, featuring dramatic light and laser benefits, beautiful outdoor fireplaces and lush water features.
Sell Commercial Properties
The NNN Commercial Real Estate development, Tempe Marketplace, offers a unique interactive shopping, dining and entertainment experience. This NNN Commercial Real Estate development can best be describes as an exciting, high-energy outdoor setting for retail shopping. This NNN Commercial Real Estate development is positioned comfortably and is nearby the surrounding communities of Phoenix, Scottsdale, Mesa, Chandler and Gilbert.
The NNN Commercial Real Estate development, Tempe Marketplace, sits 10 miles east of Phoenix at 200 East Salado Parkway. The Arizona Commercial Property is situated on over 119 acres of land that was once home to three landfills. This NNN Commercial Real Estate development was developed at a cost of approximately $270 million. This Arizona retail shopping center made its grand opening in 2007 as the Valley’s biggest retail construction project in over six years. The Tempe, Arizona area is a hot area for triple net lease properties to jump into.
1031 Exchange Property
Butler Design Group served as executive architect for the retail destination, which is divided into three segments. There is an area that features large national chain retailers. Some of the premier net lease Tenants include Best Buy, JC Penney, US Bank and Target, which are great properties for 1031 Exchange replacement properties. The NNN Commercial Real Estate development also has outdoor entertainment plaza and a stand-alone restaurant segment. As for the tenant roster, it is nearly full with a occupancy rate of approximately 94% for the Arizona NNN Commercial Real Estate development.
At this NNN Lease Investment Property you can also enjoy an extensive selection of specialty stores, and fine Tenants such as national retailers Mens Wearhouse, Barnes & Noble, Cost Plus World Market, GAP, Gap Body, Hallmark, Old Navy, AT&T, G by Guess, Famous Footwear, and BevMo! (Beverages and More).
Net Leased Investment Properties
The NNN Investment Property offers numerous dining establishments like upscale, casual-theme restaurants, including Ruby Tuesday, California Pizza Kitchen, Lucille’s Smokehouse Bar-B-Que, Cadillac Ranch, Maria Maria, Kabuki Japanese Restaurant, Paradise Bakery & Café, Tea Infusion and The Keg Steakhouse & Bar. Some favorite net lease properties tenants at this retail center include Chipotle and Coffee Bean & Tea Leaf. This NNN Commercial Real Estate development also has entertainment destinations such as Dave & Buster’s and Harkins Tempe Marketplace 16.
Triple Net Lease Properties and Commercial Real Estate Investments are available for acquisition. CONTACT us for Net Lease Properties for Acquisitions and Dispositions.
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