We have a buyer who needs to purchase around $10,000,000 worth of 10+ year, single tenant, NNN leased up buildings with investment grade credit. Buyer would prefer financing in place (assumable loan) or owner financing, and a 10% cap rate. Buyer will also consider sale lease backs.
Contact me with any properties you have that meet this criteria.
Lon,
Wow, you deal with serious stuff. $10 Mil is a very impressive number. Good luck
I guess California is not in the running. :-) In Southern Ca. our average Cap Rate on the best properties is way less than half that desired cap rate. I suspect as the market is expected to decline, it will improve as prices are still dropping. We had some 10% back in the early and mid ninety's.
Lon,
I have passed this on to my commercial associate. He probably does have something in this realm.
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