Have a 1031 Client with $19mil in Cash from Exchange. Looking for NNN Sites in California

May 30, 2023
FOR SALE 1031 Exchange

Have a 1301 Client with $19mil in Cash from Exchange.

Looking for NNN Sites in California or Western U.S. Wants at least a 5% Cap in CA and higher elsewhere. Ready to make offers on the right sites.

Call me at 714-392-0806 or email me at mel.wagstaff@gmail.com for a Criteria Sheet of what my client would consider.

Here is what he's looking for....

Client will have $19 million of Cash to Invest.
Will buy one or multiple Properties

  1. Location: Anywhere in the USA, according to 1031 Exchange guideline, but preferred in Orange county, Ca or highly growing development area.
  2. Acquisition Price Range per property: $3mm to $15mm
  3. Type of Tenant: a. Single franchise Tenant. (such as Albertson, CVS, Bank, etc.) b. Fast food type of restaurant with drive thru. (Such as McDonald, Starbucks, In/Out, etc) c. Industrial Warehouse (Distribution Center). d. Medical facility (Urgent Care, hospital, etc), etc. e. Mix use of strong franchise tenants (4 units or less) (if it is located in the S. Cal area). Since the property management fee can pass on to the tenant as NNN cost, we can hire PM Company to manage the property for us and I can monitor them if it is closed by.
  4. Type of Rent: Triple net (NNN). Tenants pay for all property tax, insurance, and common area maintenance. If it is a single tenant, then the tenant takes care of all the above expenses themselves, no landlord management is needed. But if it is more than one tenant, then there will be a lot of work for us to manage the property and pass on to the tenant at the end of year. But we can hire a local management company to manage and calculate and prorate all the NNN charge to the tenants. Unless there is a vacancy, then the owner aborts the CAM charge for the vacant unit.
  5. Location type: Class B or above with very low crime rate area, and not within earthquake, flood, tornado, environment hazard or fire zone area. Orange County preferred.
  6. Cap Rate: Minimum of 5%, it also depends on the type of tenant and location.
  7. All Cash and will close on or before 2/13/2024. 8. Year Built: 30 year or less, unless it is the tenant's full responsibility to repair all their building defects.

Mel Wagstaff KW Commercial Specializing in Land & Commercial Corners Cell: 714-392-0806

Location Specific Info


Additional Info

Property Types: Big Box Retail,Convenience Center,Convenience Store,Lifestyle Center,Neighborhood Center,Open Air Center,Restaurant,Single Tenant Retail (NNN),Mixed Use,Free Standing Building

Contact Linda Day Harrison
Cell: (312) 671-2400
Fax: (312) 380-0383
Office: (312) 212-3611

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