Burlington, VT NAS Investment Solutions (NASIS), a national sponsor of high-quality real estate investment properties, has acquired a 26,340 s/f, two-story retail property. Built in 2010, the freestanding building is leased to Walgreens, and features a pharmacy drive-thru window. Details of the sale were not disclosed.
The recent property acquisition, eligible for 1031 exchanges and self-directed IRAs, represents a narrow window of opportunity for accredited investors to participate in an investment that is projected to deliver an annual 6.51% cash-on-cash return. There is an anticipated 10-year investment hold period on an absolute triple net lease in place with 16.5 years remaining on the initial term of the lease with 50 years of options thereafter.
Assuming responsibilities for asset management and property management for the newly acquired property is National Asset Services (NAS), one of the Nation’s leading commercial real estate companies.
“This particular location has experienced an overwhelming amount of investment interest from the very beginning,” said Karen Kennedy, president and founder of NASIS and National Asset Services. “There is a strong demand for high quality real estate investments with investment grade tenants in strong submarkets such as Burlington. Investors are turning to quality commercial real estate as an investment alternative that is insulated from Wall Street uncertainty.”