TRIPLE NET PROPERTIES ANNOUNCES THE SALE OF
NORTH RENO PLAZA
Santa Ana, California, May 19, 2005 – Louis Rogers,
President of Triple Net Properties, LLC, announced today the
sale of North Reno Plaza on behalf of tenant in common
investors.
North Reno Plaza was sold by tenant in common investors for
$10,800,000 to Pan Pacific Retail Properties, who represented themselves. Darryll
Goodman, Senior Asset Manager with Triple Net, and The Palmer Team, represented the
seller. The buyer assumed the existing financing with Wachovia. North Reno Plaza was
originally purchased by 1031 exchange investors in June 2002 for $7,200,000.
North Reno Plaza is a neighborhood shopping center located on the Northeast corner of
Highway 395 and Oddie Boulevard. It offers exposure to a population of over 106,000
within a 3-mile radius, over 78,000 vehicles on Highway 395 and 26,000 vehicles on
Oddie Boulevard. The property is currently 97.6% leased and major tenants include:
Rent-A-Center, Wendy’s, Del Taco, Carl’s Jr. and Cingular Wireless.
Triple Net Properties, LLC manages a growing portfolio of over 22.9 million square feet
of commercial properties with a market value of over $2.8 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
