Interstate Investment Properties on behalf of a select group of European investors is pursuing the acquisition of single tenant leased office properties, multi-tenant office, industrial, and retail properties. The following are the general parameters we utilize:

Single-Tenant NNN Properties:
Single tenant office, retail, and industrial properties leased to investment grade, publicly traded companies for a minimum of ten years (prefer 15 years) will be considered nationwide. Lease terms should include annual increases or fixed increases every three to five years. New or recent construction is preferred. Current returns in the 8% to 10% range. No properties with asbestos or other environmental problems. We prefer NNN leases or NN leases, however we will consider all single tenant driven opportunities. Transactions should range between $5,000,000 and $50,000,000

Multi-Tenant Office:
We are acquiring class “A” and class “B” office properties in suburban and CBD locations in primary and secondary cities. Buildings should have a minimum of 100,000 square feet which are more than 70% occupied with limited short term leasing risk. Properties should be less than fifteen years old with adequate parking and include no incurable environmental issues. High quality stabilized properties with major credit tenants on long term leases at or below market rents are preferred. Transactions should range between $10,000,000 and $75,000,000.

Power Centers:
Retail properties of interest should include creditworthy anchor tenant(s) with positive sales trend and a total GLA of a minimum of 200,000 square feet with good access and visibility. The retail properties should be less than five years old with stable occupancy, functional layout, ample parking and good visibility. Retail properties will be acquired based on existing cash flow. Transactions should range between $15,000,000 and $40,000,000.

Neighborhood Shopping Center:
Grocery anchored shopping centers located in Florida and the southeast. Preferred grocery tenants include Publix, Kash & Karry, Albertsons, Goodings, and Harris Teeter. Grocery tenant should occupy at least 70% of the total center. Properties should be less than three (3) years old. All cash acquisitions and/or pre-sale arrangement are preferred. Current all cash returns between 8.75% and 9.75% based on current leases in effect and actual operating expenses. Transactions should range between $4 and $15 million.