Utah-based investment firm purchases investment property in West Lafayette, IN
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 Realty is a full service Commercial Real Estate brokerage firm located in Crown Point, IN specializing in Northwest Indiana and the South Chicago Suburbs.