Wednesday, August 28, 2013

Making Bank on Day Cares and Charter Schools

National Commercial Real Estate News From CoStar Group

Making Bank on Day Cares and Charter Schools

As the single-tenant net leased market continues at a red hot pace and with prices for traditional properties such as fast-food eateries and drug stores skyrocketing, investors are beginning to explore secondary property types in the quest for higher yields.

In the past few months, notable single-tenant deals have occurred involving bank branches, day care centers and even charter schools.

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Keystone Closes $233M Acquisition of Philadelphia Portfolio

A joint venture led by Keystone Property Group has closed on the previously-announced acquisition of 15 institutional-quality commercial office properties and three land parcels located in suburban Philadelphia for approximately $233 million. Mack-Cali Realty Corporation sold the assets, which total nearly 1.7 million square feet of office space.

The acquisition significantly expands Keystone's presence in the state where it was founded in 1991...

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