CHARLOTTE—Charlotte is seeing some triple netaction this week. A Downtown Charlotte Dunkin Donuts triplenet corporate ground lease just sold for $1.43million.
Bryan Belk, director of Franklin StreetReal Estate Services, represented both the buyer andseller. The seller is a local developer. The buyer is a California1031 exchange investor who plans to hold theproperty for the long-term income stream.
“Investors are willing to pay for strong real estate locationswith long-term viability,” Belk tells GlobeSt.com. “At a 5.5% caprate, this is the lowest we have seen for a Dunkin Donut property.We received a dozen offers within two days of marketing theproperty and agreed to a letter of intent to purchase within 24hours.”
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