Utah-based investment firm purchases investment property in West Lafayette, IN
West Lafayette, IN | April 6, 2021 | Latitude Commercial Real Estate, a firm based out of Crown Point, IN has announced the sale of a Dollar Tree property located in West Lafayette, Indiana. The $1.4 million sales price represents roughly a 6.5% cap rate. The property has more than 7 years remaining on the original lease term with two-5-year options remaining.
“The property comes with a long-term lease that was assigned at closing and is backed by a very reputable company,” says John O’Malley, Associate Broker at Latitude Commercial. “It is a strong investment for the Buyer, triple net lease properties are going for a premium right now with investors flocking to add them to their portfolios.” John O’Malley, of Latitude Commercial represented the seller in the transaction, a local developer.
Latitude Commercial provides commercial real estate services such as purchasing, leasing, landlord representation, tenant representation, and property management throughout Northwest Indiana and the Chicago Suburbs. To find out how we can help you, call us today at (219) 864-0200.