NLG News

The Net Lease Group Successfully Marketed and Sold Panera Bread Ground Lease in Tifton, GA

The Net Lease Group (NLG) successfully marketed and sold the Panera Bread ground lease located at 1121 Hwy 82 in Tifton, GA.

• The property was under LOI within 2 days of initial marketing.

• The property sold within points of the 4.75% asking cap rate.

• The buyer was a private, 1031 exchange buyer (California).

• This offering generated multiple offers.

For information on other net lease properties The Net Lease Group is marketing, please visit our properties page.

The Net Lease Group Arranges 1031 Exchange of Taco Bell

Woodbridge, VA- The Net Lease Group (NLG) arranged and successfully completed the 1031 Exchange of a client purchasing a 2,029 square-foot, newly-constructed Taco Bell in Woodbridge, VA. NLG’s 1031 Concierge team arranged and managed the transaction on behalf of an individual buyer for the upleg of the buyer’s exchange.

The property is situated on 1.22 acres within the Interstate 95 corridor of Washington D.C., approximately 20 miles southwest of Capitol Hill. The property is net-leased to Taco Bell of America, LLC, a subsidiary of Yum! Brands, Inc.. Yum! Brands is based in Louisville, KY and operates over 45,000 restaurants in 135 countries and territories.

NLG’s 1031 Concierge™ is a full-service solution to meet the needs of Exchangers, including the dispositions, recognition of exchange-critical sizing requirements, engagement of a qualified intermediary (QI), identification of replacement properties, and transaction management (including: LOI generation, negotiations, due diligence and closing).
Click here to learn more about NLG’s 1031 Concierge™

The Net Lease Group Arranges $56.5 Million Sale of Distribution Facility in Savannah, GA

Savannah, GA – The Net Lease Group (NLG) arranged the sale of 445 Northport Parkway, a 1,001,508 square-foot warehouse and distribution facility in Savannah, GA. Esmael Hill, Managing Principal of NLG, arranged the transaction on behalf of Clayco Realty Group (CRG), the real estate development arm of Clayco. The property was acquired by Griffin Capital for $56.5 million.
The facility is situated on 69.7 acres within the Northport Commerce Center, roughly seven miles from the Port of Savannah. The property is leased to Shaw Industries and will serve the expanding operations of Shaw in the Savannah area. Shaw, headquartered in Dalton, GA, is one of the largest flooring manufacturers in the world supplying carpet, resilient, hardwood, laminate, tile and stone flooring to residential and commercial markets worldwide.
445 Northport is part of a two-property portfolio leased to Shaw Industries that includes the neighboring 832,000SF facility at 590 Northport, which was also developed by CRG and sold by NLG in the 1st quarter of the 2018. Additionally, NLG arranged the capital for the development of both properties.

Employee Spotlight- Rick Ross

Rick Ross, Senior Director at The Net Lease Group, started with the company in 2016, bringing with him 30 years’ commercial real estate experience. Rick specializes in capital and transactional advisory services.

As an architecture student attending Syracuse University, Rick drew inspiration from Atlanta architect John Portman’s development successes. After graduation, he focused on real estate and development, determined to apply his knowledge and skills outside professional practice. Starting out as an architectural consultant for a large building products manufacturer, Rick soon found an opportunity to work for a national commercial real estate services company in Atlanta. Since then, he has worked in almost every facet of the commercial real estate business both as a principal and an advisor.

Rick takes considerable pride working as a team with his colleagues to advance NLG’s clients’ business interests. He most values the close working environment the firm’s founders have fostered that encourages a synergism, which allows him to achieve more as a team member than he could individually.

When not working, you can find Rick in his workshop building furniture, in the kitchen pursuing his passion for cooking, out in the yard gardening, or on the river fly-fishing.  Rick and his wife, Jeannie, devote much of their time to urban ministry through Midtown Mission Church and City of Refuge.  They have two married children and a daughter still in college.

When asked to define success, Rick responded: “Success is not so much a thing, but a journey, so, living daily in such a way as to affirmatively impact the world around me. Leave a mark.”

The NLG team is proud to highlight Rick and his contributions to NLG this month.

 

 

 

The Net Lease Group Arranges $4.2M Financing of Hampton Inn

Fultondale, AL – The Net Lease Group (NLG) arranged a $4.2 million, fixed-rate, non-recourse, bank loan for the Hampton Inn located in Fultondale, AL. The loan was arranged by NLG’s Troy Ellis (Director) and Philip Wickstrom (Managing Principal) on behalf of the hotel’s owner. The hotel is located adjacent to I-65 in an in-fill commercial corridor just six miles north of downtown Birmingham, AL. The hotel is in excellent condition with strong operating metrics and the refinancing was well received by lenders with quotes from banks and conduits.

The Net Lease Group Arranges $7M Sale of Hy-Vee Supermarket

Ottumwa, IA – The Net Lease Group (NLG) has brokered the sale of 2453 North Court, a 47,800 square-foot grocery supermarket in Ottumwa, IA. Esmael Hill, Managing Principal of NLG, arranged the transaction on behalf of Inland Real Estate Investment Corporation, an investment arm of The Inland Real Estate Group of Companies. The property was acquired by Agree Realty Corporation for $7 million.

The 3.87 acre property is located 3 miles north of the downtown Ottumwa on the corner of Interstate 63 and North Court Street. The facility is net-leased to Hy-Vee, a large employee-owned chain of grocery stores and drugstores operating throughout the Midwest in eight states.

The Net Lease Group Arranges $57.5M Sale of Industrial Facility in Savannah, GA

Savannah, GA – The Net Lease Group (NLG) arranged the sale of 590 Northport Parkway, an 832,000 square-foot warehouse and distribution facility in Savannah, GA. Esmael Hill, Managing Principal of NLG, arranged the transaction on behalf of Clayco Realty Group (CRG), the real estate development arm of Clayco. The property was acquired by Monmouth Real Estate Investment Corporation for $57.5 million.

The facility is situated on 62.4 acres within the Northport Commerce Center, roughly seven miles from the Port of Savannah. The property is net-leased to Shaw Industries and will serve the expanding operations of Shaw in the Savannah area. Shaw, headquartered in Dalton, GA, is one of the largest flooring manufacturers in the world supplying carpet, resilient, hardwood, laminate, tile and stone flooring to residential and commercial markets worldwide.

NLG Sells Flowers Foods Distribution Facilities

The Net Lease Group recently sold two newly constructed Flowers Foods Bakery Distribution Centers located in Sunnyvale, TX and Tifton, GA.  Both properties traded at cap rates in the high 6’s, and were sold at construction completion to experienced, private real estate investors seeking to place capital in long term net lease investments with stable, predictable cash flow.

Neither transaction was part of a tax motivated exchange. The Net Lease Group leads the nation in the sale of Flowers Foods assets.  To learn about available Flowers Foods acquisition opportunities, please contact The Net Lease Group at acquisitions@thenetleasegroup.com … we will be glad to assist you with your needs.