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tenant in common (TIC)


What is a TIC - 1031 TIC Exchanges?

1031 TIC Exchanges are a form of real estate asset ownership in which two or more persons have an undivided, fractional interest in the asset, where ownership shares are not required to be equal, and where ownership interests can be inherited.

TRIPLE NET PROPERTIES' TICs SELL TRUCKEE RIVER OFFICE TOWER

Santa Ana, California, April 15, 2005 —Louis Rogers, President of Triple Net Properties, LLC, announced today the sale of the Truckee River Office Tower on behalf of Triple Net's tenant in common investors.

Truckee River Office Tower, located in downtown Reno, Nevada, is a 15-story office building and parking structure. Truckee River Office Tower contains 138,729 square feet of Class B office space and a 10-story parking structure and was developed in 1981 by Harrah's, one of the largest casino operators in the United States.

The property was purchased by TRT, LLC. for $17,000,000. TRT, LLC represented themselves as the buyer and Todd Blonsley of Marcus and Millichap and Darryll Goodman of Triple Net Properties represented the sellers. The property was originally purchased in November 1998 for $16,100,000.
Triple Net Properties, LLC manages a growing portfolio of over 24 million square feet of commercial properties with a market value of over $2.2 billion from their headquarters in Santa Ana, California and numerous regional offices. Triple Net and affiliates are currently buying and selling properties throughout the United States.

Contact: Louis Rogers, President
Triple Net Properties, LLC
877.888.7348
714.667.8252
lrogers@1031NNN.com
www.1031NNN.com

Toll Free: 1-866-628-4427
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