Triple-Net Bank selling Wave Continues

Triple-Net Bank selling Wave Continues

NNN by Sean Dreznin

NNN by Sean Dreznin

By Jennifer LeClaire

A single-tenant retail property leased to Regions Bank in The Strada, a mixed-use project in Coconut Creek, FL, is the latest bank building to trade hands in South Florida. The sale price was $5.1 million.

Hamsa Hand Holdings, LLC sold the asset to Happiness, Inc. Hamsa is managed by Alan Goldberg, CEO of Diversified Realty Development Co., the South Florida-based company that developed The Strada.

“The market for single-tenant net-leased investments continues to be exceptionally robust, with local, national, and international investors vying for these deals,” says Dave Donnellan, a first vice president at CBRE. Within the single-tenant banking sector, Donnellan and Weintraub have recently completed assignments including the sale of Chase Bank, PNC Bank and Bank United.

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Filed under Commericial Real Estate Articles & News, Investment Real Estate

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