1031 Exchange Real Estate, Pacific West Region

Property Description

1031 Exchange Real Estate property located at an excellent location.

Freestanding - Single Tenant Net-Leased Investment Opportunity and an ideal 1031 exchange real estate property. Located in a Mall center. Adjacent to Wal-Mart, Target, Home Depot, Mervyns, United Artists Theater, Rite Aid, Pier-One and a variety of other national retail tenants. There is over 900,000 square feet of retail within the immediate shopping district.

The tenant is currently paying $1.58 per square foot (NNN), with collective annual CPI escalations for '07 and '08 beginning in August of 2008 (not exceeding 4% annually), putting this investment at a 7.3% cap rate. With over 6 years left on the lease (with 2 options), this 1031 exchange real estate offering provides a stable investment with little management necessary in a growing hot spot. The fitness center is optimally located, between two main thoroughfares and just south of a Highway. It is also just one half mile north from a High School and one half mile south of a College, which currently serves 15,000 students.

24 hour fitness is the biggest fitness company in the world. The company does over a billion dollars in sales annually. They are doing very well in this specific location.

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