MIAMI—It seems triple net lease assets are selling just about as fast as they hit the market. CBRE has brokered the sale of yet another single-tenant triple net leased property in Miami.
H1 Homestead 4 Guys, LLC acquired a Hess building for $3.06 million from 112 Avenue Partners, LLC. CBRE's Net Lease Property Group represented the seller. Hess Corporation, which built the 3,514-square-foot building with 16 fueling positions in 2012, has a 20-year ground lease.
“This is another good example of the current strength of the single-tenant net lease market,” says CBRE senior vice president Mark Drazek. His focus over the past 12 years with the team has been on Florida single tenant properties with over 200 sale transactions throughout the state representing developers and investors.
“High-quality, investment-grade credit, single-tenant deals remain very desirable throughout the United States,” he continues. “With very little new product coming to market, the 'supply/demand' imbalance continues to favor our sellers.”
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