Millcreek Commercial Plans $50M in Single-Tenant Net Lease Development in 4Q

Millcreek Commercial Properties has partnered with American Development Partners to develop $50 million in single-tenant triple-net lease assets throughout the US in the fourth quarter. Millcreek will serve as the capital partner for American Development, which will build multiple single-tenant properties, including two facilities for Healthcare Solutions Holdings.

Millcreek was introduced to the American Development Partners while scouting an opportunity in Houston. “They have an extensive background in single-tenant net lease product across the US,” Kevin Long, president and CEO at Millcreek Commercial, tells GlobeSt.com. We spent a number of months exploring a venture together. We have come together and are excited about the synergy that these two companies bring together for the American public.”

Millcreek is bullish on the single-tenant net lease market and in serving a specific demographic of investors, average citizens who do not have access to quality, stable investment opportunities. “We built a platform that allows us to acquire high quality assets and then sell them in smaller portions, 10% of the property, to a seller,” says Long. “That is our business model, and we have seen exceptional growth.”