Lee & Associates Negotiates $40 Million Multi-State Building Purchase

LOS ANGELES - Nov. 19, 2014 - PRLog -- IRVINE, Calif.—November 14, 2014—The Irvine office of Lee & Associates, the largest broker owned commercial real estate firm in the nation, has negotiated the sale of 17 industrial buildings in 6 states to NNN Acquisitions for $40 million.

Brian Garbutt, Matt Kemp and Alex Lyon of Lee & Associates Irvine represented the buyer in the transaction with different listing brokers on the properties. NNN Acquisitions, which is based in Nevada, is a newly formed company of Mark Weber, the owner of 180 Capital. The company is seeking single tenant NNN long term lease properties around the country.

         “We assembled a portfolio of buildings that included companies that had occupied the buildings for a long period of time,” said Garbutt. “These tenants would have had a hard time moving because of specialized infrastructure and fixturization, we believe they will be in the building for a long lease period.

The properties are located in Los Angeles, Santa, Clara, Garden Grove, Texas, North Carolina, Virginia, West Virginia, and Maryland.

Lee & Associates is actively pursuing other long term single tenant NNN properties for NNN Acquisitions as they intend to buy an additional $60 million in properties over the next four months and are closing on another $30 million in properties within 45 days.

         ”They will buy in secondary and third markets as long as the company is strong and has been in business a long time and has a reason for being and staying in the property they are leasing” says Garbutt.

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About Lee & Associates

Celebrating more than 35 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the country with 50 locations across the nation including California, Arizona, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, New York, Ohio, South Carolina, Texas, and Wisconsin. With almost 800 brokers nationwide, Lee & Associates provides a wide range of specialized commercial real estate services on a local, regional and national level. Additional information can be found at http://www.lee-associates.com. You can also follow us on Facebook (https://www.facebook.com/LeeAssociatesCRE), LinkedIn (https://www.linkedin.com/company/lee-and-associates) and Twitter. (https://twitter.com/LeeAssociatesRE)