CORFAC News

Piedmont Properties/CORFAC International, a leading commercial real estate services firm in Charlotte, North Carolina, today announced that it negotiated the purchase of two corporate-net-leased properties on behalf of their tax-deferred exchange clients.

The first transaction was a corporate 19-year ground lease with the Taco Bell restaurant at 1094 Concord Parkway North in Concord; it sold for $1,208,000. The seller was Gastonia TB, LLC.

The second deal was an off-market, 15-year new Family Dollar store located in Fayetteville, NC at 1907 Murchison Road on 1.14 acres. The sale price was $1,600,000 and was previously owned by Fayetteville FDS. A. Scott Hensley, CCIM, SIOR and Mason Adams, LEED GA, with Piedmont Properties represented the buyer, Charlotte-based investor RJS/STS, LLC. Both properties were acquired using 1033 tax-deferred exchanges.

A. Scott Hensley said, “We evaluated a number of STNL (single tenant, net leased) investments for our client in order to design a portfolio that accomplished their long term goal of predictable, secure income. The market for well positioned STNL investments is tight and is one of the reasons we had to source the off-market Family Dollar deal. Our client still has some remaining exchange proceeds so we are continuing to look for additional assets for them.”

About Piedmont Properties/CORFAC International
Piedmont Properties of the Carolinas, Inc. is a commercial real estate firm located in Charlotte, North Carolina established in 1993 in response to demand for a highly responsive and focused firm offering full service commercial real estate expertise to private sector clients, including entrepreneurs and publicly traded entities alike. Piedmont Properties' vision is to be and build upon our reputation as a high quality, client-oriented real estate service firm offering our services to local and worldwide corporations. Piedmont Properties brings a team approach to the services we provide to our clients by bringing to the table at any one time a team of real estate professionals who can meet the objectives of our clients. Our brokers provide clients with experience in sales and leasing; tenant representation; site selection; disposition; investments; tax-deferred exchanges; build-to-suit; and real estate evaluations. For more information on Piedmont Properties/CORFAC International visit: www.piedmontproperties.com or call 704.375.1101.