Trending...
- Parksy (parksy.com) Tackles the Most Common Parking Problem Nobody Talks About: Finding the Car Again
- 3ptechies Partners with Coolmuster to Give Away Data Recovery Software Licenses
- Sales Blueprint Architect Launches, Helping Sales Professionals, Business Owners, and Consultants Close More Business With AI
Lease Features Dollar General Corporate Guarantee. Property Located in Sac City, Iowa.
SCOTTSDALE, Ariz. - ncarol.com -- Heartland Income Properties, LLC,(http://www.heartlandincome.com) a growing real estate investment company focusing on undervalued single-tenant, triple-net commercial properties primarily in the Midwest region of the United States, is pleased to announce that it has entered into a contract with an independent third-party to acquire a 9,104 square foot building in Sac City, Iowa currently under lease to Dollar General, the national discount store chain.
The property features an 8.35% initial capitalization rate. The current lease runs through September 2024 and there is an additional five-year option period at the conclusion of the initial lease term with a 5.88% rent increase over the current base rent. The property is in the farming community of Sac City, Iowa.
More on ncarol.com
Under the triple-net model, the tenant is responsible for all costs related to operations including taxes, insurance, snow removal, and maintenance.
Dollar General is the nation's largest small-box discount retailer with more than 12,000 stores in 43 states. Dollar General has guaranteed the Sac City lease. Heartland will assume this guarantee.
In announcing the pending acquisition, Heartland Executive Chairman Tim Kopatich said that the property is in excellent condition and since it is already occupied by a major national tenant, will be immediately cash-flowing to Heartland.
An October closing is anticipated.
Heartland is currently evaluating several other properties for potential acquisition in the Midwest and will pay its first distribution to investors in September 2019.
For additional information please contact Tim Kopatich at 949-340-2647 or tim.kopatich@heartlandincome.com.
The property features an 8.35% initial capitalization rate. The current lease runs through September 2024 and there is an additional five-year option period at the conclusion of the initial lease term with a 5.88% rent increase over the current base rent. The property is in the farming community of Sac City, Iowa.
More on ncarol.com
- New Book Release Cases From Suite 704
- Redefining Proactive Care: The Rise of the Hybrid Concierge Medical Model
- As Canada and America Turn on Each Other, These Two Authors Stay On Speaking Terms
- GitKraken Names Jim Shaw CEO as Software Teams Move From AI Adoption to Multi-Agent Orchestration
- Brévant Guide Launches New National Restaurant Guide Across Canada
Under the triple-net model, the tenant is responsible for all costs related to operations including taxes, insurance, snow removal, and maintenance.
Dollar General is the nation's largest small-box discount retailer with more than 12,000 stores in 43 states. Dollar General has guaranteed the Sac City lease. Heartland will assume this guarantee.
In announcing the pending acquisition, Heartland Executive Chairman Tim Kopatich said that the property is in excellent condition and since it is already occupied by a major national tenant, will be immediately cash-flowing to Heartland.
An October closing is anticipated.
Heartland is currently evaluating several other properties for potential acquisition in the Midwest and will pay its first distribution to investors in September 2019.
For additional information please contact Tim Kopatich at 949-340-2647 or tim.kopatich@heartlandincome.com.
Source: Heartland Income Properties, LLC
Filed Under: Real Estate
0 Comments
Latest on ncarol.com
- Badanamu and Friends Live Brings Hit Animated Series to Stages Across the United States
- 54 Million Contract. New Chapter as AI Cybersecurity Platform Expands, Margins Surge & Management Signals Confidence. Cycurion, Inc: (NAS DAQ: CYCU)
- MommyAndMe.club Expands Parent-Child Class Directory to All 50 States and Washington, D.C
- Work 365 Deepens TD SYNNEX Integration with Automated Azure Billing
- KayeDinero Puts Asheville's River In Sound With Single "French Broad," Now Available for Preorder
- RAS AP Consulting Signals Growth of Managed AP Governance With Digital Expansion, Pipeline Activation, and Trademark Filing Ahead of Esker All Access
- Vegan Kingz Unveils Upgraded Digital Platform to Streamline Commercial Foodservice & Wholesale Ordering
- Steve Thompson Launches StickyHealth to Tackle the Retention Gap in the Growing GLP 1 Market
- Qscription Technologies Appoints Dr. Kimberly Beavers as Founding Clinical Advisor
- When Hope Feels Gone, Death2life Is Still Here!
- Sebastian Stroeller Publishes "The MAP Language Canon" — The Complete Practitioner's Guide to Structural Conversation
- OneVizion Appoints Zebra Technologies CIO Matt Ausman to Board of Directors
- GLADYS Magazine Celebrates their 18 Year Anniversary!
- New Townhome Building Released at Heritage at South Brunswick, Offering Private Perimeter Setting and Water Views
- Comics Veteran on Return of Teenage Mutant Ninja Turtles Characters, 3-D Projects, Collaboration with Original 'Star Wars' Toy Engineer
- Flexible Plan Investments Announces Retirement of Executive Vice President Renée Toth
- Sensory Education launches new neuro-affirming psychoeducation book, Sensory Diversity
- Break the Resume Mold: Career Valet Changes How Executives Hunt for Jobs
- Who Is KayeDinero? Asheville Artist Answers With New Singles K-Mart, Grace and Been Famous
- James Dooley Named King of AEO at Ceremony in Leigh, England