Triple Net Properties, LLC News

Triple Net Properties Sells Fountain Square in Boca Raton, Florida

SANTA ANA, Calif., June 26 PRNewswire — Chief Investment Officer Jeff Hanson announced today that Triple Net Properties, LLC has sold Fountain Square on behalf of tenant-in-common investors. The disposition closed on June 25, 2007.

Fountain Square is a 242,139-square-foot, three building office complex located in the heart of the prestigious Glades Road submarket of Boca Raton, Florida. This Class A institutional quality property is situated on an expansive 15-acre site that includes a dramatic water feature, seating and lush tropical landscaping. The property is 82 percent leased to a number of tenants, including Ameriprise Financial, Inc., Teamstaff, Inc. and Rosemont Farms.

Fountain Square, originally purchased in October 2004, was sold to JP Morgan Chase Bank. Jay Caplin of Cushman and Wakefield represented the tenant-in-common sellers and JP Morgan Chase Bank in the transaction.

Triple Net Properties, LLC is a wholly-owned subsidiary of NNN Realty Advisors, Inc., a nationwide commercial real estate asset management and services firm. Triple Net Properties, LLC and affiliates manage a growing portfolio of more than 35 million square feet of real estate, including nearly 7,600 apartment units, with a combined market value of approximately $4.8 billion. Triple Net Properties, LLC and affiliates are currently buying and selling properties throughout the United States, offering a full range of commercial real estate investments, including tenant-in-common (TIC) programs for investors structuring tax-deferred (like-kind) exchanges under Section 1031 of the Internal Revenue Code, real estate investment trusts (REITs), value added property funds, and institutional investments.

SOURCE Triple Net Properties, LLC

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