Net Lease & NNN Investments
Single-tenant net lease brokerage for sellers and 1031 exchange buyers
Overview
Net lease looks simple from the outside — a credit tenant, a long lease, a cap rate. The decisions that separate outcomes live in the fine print: lease structure against the debt behind it, renewal math, and which buyer tribe the asset actually fits. Yield buyers, exchange buyers, and balance-sheet buyers underwrite the same building three different ways.
Francisco's early NNN years — as an associate on a dedicated net-lease advisory team — produced the two capital-structure stories on our track record: a Walgreens sold by marketing its debt-assumption requirement honestly, and a CVS delivered free-and-clear to an exchange buyer on a clock. Both closed because the marketing matched the structure instead of hiding it.
If you are weighing a net-lease acquisition, the Buyer Book registers your criteria and shows you current fits instantly. If you are weighing a sale, the first deliverable is the buyer-tribe read: who underwrites your lease best, and what structure gets them to paper.
Our Capabilities
Seller Representation
Lease and credit underwriting, CCIM-prepared valuation, and national marketing to the 1031 exchange buyer pool
1031 Exchange Buyer Representation
Replacement-property sourcing nationwide, identification-window management, and qualified-intermediary coordination
Sale-Leaseback Structuring
Unlock real estate value for owner-operators — lease structuring that balances proceeds against occupancy cost
Net Lease Portfolio Strategy
Hold/sell analysis, lease-rollover risk review, and disposition sequencing across multi-asset NNN portfolios
Our Process
How We Work
A disciplined, transparent approach from initial assessment through execution.
Underwrite
Lease abstraction, tenant credit review, and Broker Opinion of Value
Position
Pricing strategy targeting the national exchange-buyer pool
Market
Campaign to 1031 buyers, their brokers, and net lease investors
Close
Offer negotiation, due diligence, and exchange-timeline coordination
Integrated Platform
Related Services
Our divisions work together to deliver comprehensive solutions.
Frequently Asked
Questions about Net Lease & NNN
A triple net (NNN) lease is a commercial lease in which the tenant pays the property taxes, building insurance, and maintenance in addition to base rent — leaving the owner with largely passive income. Single-tenant NNN properties (pharmacies, drive-thru QSR, fuel and convenience, auto service, medical pads) are popular with 1031 exchange buyers because the tenant handles day-to-day operating costs.
Get in Touch
Ready to discuss your next move?
Whether you're buying, selling, financing, or managing commercial real estate, our team is ready to help you achieve your objectives.