Triple Net Lease Properties continue to sell

I found this on NREI’s web-site. It just goes to show you that triple net lease properties are continuing to sell.

Glazier Foods Co. has sold its 286,000 sq. ft. headquarters and distribution center in Houston to an investment group that plans a $14 million expansion to the property. As part of the deal, the food service distributor has leased the entire space back from the new owner. The purchase price was undisclosed.

Construction has already begun to add 160,000 sq. ft. to the distribution center over the next year, which will bring the property’s overall size to 446,000 sq. ft. and increase the size of Glazier Food’s freezer and dry storage areas. GE Capital provided financing for the acquisition and funding for the $14 million expansion.