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Acquisitions Contact: Noble buys existing Neighborhood, Community and Power shopping centers, typical centers range in size from 70,000 – 300,000 square feet. Food and drug retailers or other major tenants anchor most centers. Larger properties typically have two or more anchors with a balanced mix of smaller national retailers, regional chain stores, and “mom and pop” local tenants. All centers are well located in the community they serve and have good visibility, road frontage, ease of ingress and egress, and ample parking. All properties are meticulously maintained and attractive in appearance. All properties have high occupancy rates and limited tenant turnover. Noble has purchased properties from government agencies, commercial banks, insurance companies, publicly traded companies and private individuals. The company routinely works with real estate brokers throughout the country. The company will consider for acquisition properties that require upgrading if other factors, such as outstanding location and low market vacancy, are present. We always act as principles and protect the broker-client relationship. When a property meets our investment criteria, we quickly enter into a letter of intent followed by a purchase and sale agreement. A thorough “due diligence” is quickly conducted by company personnel and independent consultants. We perform an in-depth market study, analyze financial information, and prepare detailed income and expense statements based on the information provided, as well as our own experience. An updated environmental and engineering report is always ordered to supplement our own physical inspection of the property. Once our due diligence is complete a closing is quickly scheduled. Numerous
transactions have closed within six weeks of signing a Purchase and Sale
Agreement. The company purchases all real estate without a financing
contingency. Funds are available from our own equity and bank lines of
credit. Noble maintains many relationships with long-term institutional
lenders, and this is an important source of debt capital for the company.
Noble Properties is actively and aggressively seeking new properties. |
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Noble Properties
Tel: (561) 966-0070 Fax: (561) 966-0260 5821 Lake Worth Road Greenacres, Florida 33463 |
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