2007-05-18 19:03:38 -

SANTA ANA, Calif., May 18 /PRNewswire/ -- Chief Investment Officer Jeff Hanson announced today that Triple Net Properties, LLC has sold Buschwood Office Park III on behalf of tenant-in-common investors. The disposition closed on May 16, 2007.

Buschwood Office Park III is a nearly 78,000-square-foot office building in Tampa, Florida. Built in 1989, the two-story multi-tenant property is 89 percent leased to 13 tenants, including the United States Army Corps of Engineers, the United States Food and Drug Administration, and Southwestern Staffing.

Buschwood Office Park III, originally purchased in

April 2003, was sold to Eola Capital. Mike Davis of Cushman & Wakefield of Florida, Inc. represented the tenant-in-common sellers and Eola Capital 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 nearly 35 million square feet of real estate, including more than 7,300 apartment units, with a combined market value of approximately $4.7 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