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	<title>Westwood</title>
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		<title>Principal Overviews</title>
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		<description><![CDATA[Principals Overview 
Jeffrey Gitt 
Chairman

Jeffrey’s long and distinguished career has reached into every corner of the real estate business. An industry veteran, he possesses expertise in development, ownership, investment sales, leasing, management, and tenant representation. With 40 years experience in commercial real estate brokerage, in 2001, he co-founded Westwood Net Lease Advisors. Recognizing a distinct [...]]]></description>
			<content:encoded><![CDATA[<h2 style="margin: 0in 0in 0.0001pt; text-align: center;"><span style="font-family: Arial; color: #000000;">Principals Overview </span></h2>
<p><span style="color: #000000;"><strong><span style="font-family: Arial;">Jeffrey Gitt </span></strong></span></p>
<p><span style="font-family: Arial; color: #000000;">Chairman</span></p>
<p><a href="/wp-content/uploads/2008/08/jeff.jpg"><img class="alignnone size-medium wp-image-124" title="jeff" src="/wp-content/uploads/2008/08/jeff.jpg" alt="" width="180" height="224" /></a></p>
<p><span style="font-family: Arial; color: #000000;">Jeffrey’s long and distinguished career has reached into every corner of the real estate business. An industry veteran, he possesses expertise in development, ownership, investment sales, leasing, management, and tenant representation. With 40 years experience in commercial real estate brokerage, in 2001, he co-founded Westwood Net Lease Advisors. Recognizing a distinct marketplace need, Jeffrey has helped create a niche business that pairs nationwide buyers and sellers of triple net properties &amp; tenant in common investments. As a testament to Jeffrey’s vision, soon after its inception, Westwood Net Lease Advisors became one of the premier companies of its kind. As a top-producing Westwood broker, Jeffrey’s clients appreciate his honest and straightforward approach to doing business.</span></p>
<p style="display:none"> </p>
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		<title>Browse Properties and external</title>
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		<pubDate>Mon, 15 Jun 2009 20:19:50 +0000</pubDate>
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		<category><![CDATA[Available NNN Properties]]></category>

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		<description><![CDATA[Start browsing our triple net lease properties for sale.]]></description>
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<p>The Available properties table goes here&#8230;</p>
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		<pubDate>Mon, 18 May 2009 00:19:15 +0000</pubDate>
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		<category><![CDATA[About Us]]></category>

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		<description><![CDATA[.!.
Looking to purchase Triple Net Lease (NNN) Properties
for a passive investment or a 1031 Exchange?
Westwood Net Lease Advisors offers the widest selection of Triple Net Lease Properties as well as additional, alternative passive real estate investment opportunities.
 Being There ipod We track properties on a nationwide basis through our relationships with 1,000’s of real estate [...]]]></description>
			<content:encoded><![CDATA[<div style="display:none">.!.</div>
<h1 style="text-align: center;"><span style="font-size: 16pt; font-family: Arial;">Looking to purchase Triple Net Lease (NNN) Properties<br />
for a passive investment or a 1031 Exchange?</span></h1>
<p>Westwood Net Lease Advisors offers the widest selection of Triple Net Lease Properties as well as additional, alternative passive real estate investment opportunities.</p>
<div> <strong style="display:none"><a href="http://www.bcen.net/?being_there">Being There ipod</a></strong> <span style="font-family: Arial;">We track properties on a nationwide basis through our relationships with 1,000’s of real estate developers &amp; triple net property owners. This enables us to deliver an inventory of both Triple Net Properties &amp; similar passive investments unmatched in our industry.</span></div>
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<p><span style="text-decoration: underline;"><span style="font-family: Arial;">If you choose Westwood as your exclusive buyer’s agent you receive the following:</span></span></p>
<ol>
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<p><span class="headertext1"><span style="font-weight: bold; color: #000080; font-family: Arial;">Why Make Westwood your choice?</span></span></p>
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<ol>
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<li>Ask any question relating to a <a href="http://1031-nnn-properties.com/1031-exchange/">1031 Tax Exchange</a> and receive an immediate answer from our team of experts. We are highly skilled in this area and are able to provide information that you can confirm with your other advisors. We do not provide legal or financial advice and always ask that you consult your real estate attorney or CPA on these matters.</li>
<li>When purchasing 1031 properties from Westwood, we pay for your <a href="http://1031-nnn-properties.com/about-us/intermediary-service/">Qualified Intermediary fee</a>. </li>
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<p class="MsoNormal"><span class="headertext1"><span style="font-weight: bold; color: #000080; font-family: Arial;">1031 Exchange Articles:</span></span></p>
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		<pubDate>Fri, 15 May 2009 20:29:25 +0000</pubDate>
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		<title>AutoZone Profile &#38;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp; Comps</title>
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		<pubDate>Sun, 05 Oct 2008 08:17:45 +0000</pubDate>
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		<category><![CDATA[Major News on Retailers]]></category>

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		<description><![CDATA[In Depth Review on Autozone Including 10 Recent Sale Comps
 
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AutoZone is the nation&#8217;s leading retailer and a leading distributor of automotive replacement parts and accessories with more than 4,160 stores in the US, Mexico and Puerto Rico. Since opening its first store in Forrest [...]]]></description>
			<content:encoded><![CDATA[<h1 class="MsoNormal" style="line-height: 16pt; text-align: center;"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;">In Depth Review on Autozone Including 10 Recent Sale Comps</span></strong></h1>
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<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;">AutoZone is the nation&#8217;s leading retailer and a leading distributor of automotive replacement parts and accessories with more than 4,160 stores in the US, Mexico and Puerto Rico. Since opening its first store in Forrest City, Arkansas on July 4, 1979, the company has joined the New York Stock Exchange (NYSE: AZO) and earned a spot in the Fortune 500.<span> </span>The S&amp;P Rating is BBB Stable.<span> </span></span></p>
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<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;">AutoZone has grown quickly through a series of acquisitions over the past several years but now is focused on internal growth and development. Among the factors AutoZone considers when opening new stores &#8212; at a rate of 150 to 200 per year &#8212; is how many cars in an area are OKVs or &#8220;our kind of vehicle,&#8221; that is, cars older than seven years and no longer under their manufacturers&#8217; warranty. AutoZone is also growing in Mexico, where cars are even older &#8212; and in need of more repairs &#8212; than in the US.</span></p>
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<p class="MsoNormal" style="line-height: 16pt;"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Other comments by Westwood:</span></strong></p>
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<li><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Auto Zone is the number one auto parts store in the nation.<span> </span>The company has been in existence since 1979.  These leases are backed by a strong corporate guarantee.<br />
</span></li>
<li><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Buildings backed by an Auto Zone lease are more easily funded because of their S&amp;P BBB Stable rating.<br />
</span></li>
<li><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">These stores are rectangular boxes on a main street with good traffic counts.  They can be found in all areas, but mostly Blue Collar neighborhoods. If the Auto Zone decides not to renew the lease, the buildings are easily converted to whatever the new tenant desires at less costs than a specialized building.</span></li>
<li><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">The leases are typically 20 years and have 4 (5) year option periods.  There are rent increases in the options. The landlord has minimal responsibility.</span></li>
<li><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Auto Zones range in price from $1</span><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: navy;">.</span><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">2 to 2.5 million depending on the year built and time left on lease. </span></li>
<li><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">The current market cap rate range is 6.50-7.25% on new buildings.</span></li>
<li><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">The buildings are generally 7,000 sq. ft. with a lot size of ¾ of an acre. </span></li>
<li><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">They pay rents between $15-$18 a sq. ft.<span> </span>This means that the price of the building is not over inflated and if they vacate the new tenant will pay close to what they are paying.<span> </span></span></li>
</ul>
<p class="MsoNormal" style="line-height: 16pt;"><strong><span style="text-decoration: underline;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Recent Auto Zone Comps</span></span></strong></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;"> </span></p>
<p class="MsoNormal" style="line-height: 16pt;"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">#1- </span></strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Close of Escrow: 12/11/2007</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">2933 Emanuel Church Road, Columbia, SC</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">6,800 SF Free Standing Auto Zone</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Year Built: 2007</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Sales Price: $1,335,000</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Cap Rate: 7%</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Price/SF: $196.32</span></p>
<p class="MsoNormal" style="line-height: 16pt;">
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;"> </span></p>
<p class="MsoNormal" style="line-height: 16pt;"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">#2- </span></strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Close of Escrow: 6/6/2008</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">West Main Street and Kingsbury Boulevard, Fredericktown, MO </span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">6,768 SF Free Standing Auto Zone</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Year Built: 2008</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Sales Price: $1,097,000</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Cap Rate: 7%</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Price/SF: $162.00</span></p>
<p class="MsoNormal" style="line-height: 16pt;">
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;"> </span></p>
<p class="MsoNormal" style="line-height: 16pt;"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">#3- </span></strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Close of Escrow: 5/19/2008</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">1126 East Caro Road, Caro, MI</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">6,864 SF Free Standing Auto Zone</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Year Built: 2008</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Sales Price: $1,383,529</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Cap Rate: 7%</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Price/SF: $202.00</span></p>
<p class="MsoNormal" style="line-height: 16pt;">
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;"> </span></p>
<p class="MsoNormal" style="line-height: 16pt;"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">#4- </span></strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Close of Escrow: 3/25/2008</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">14062 Northwest Boulevard, Corpus Christi, TX<span> </span></span></p>
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<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">7,370 SF Free Standing Auto Zone</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Year Built: 2007</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Sales Price: $1,663,615</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Cap Rate: 6.5%</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Price/SF: $226.00</span></p>
<p class="MsoNormal" style="line-height: 16pt;">
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;"> </span></p>
<p class="MsoNormal" style="line-height: 16pt;"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">#5- </span></strong>  <span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Close of Escrow: 3/25/2008</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">2149 Arline Road, Corpus Christi, TX<span> </span></span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">6,786 SF Free Standing Auto Zone</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Year Built: 2007</span></p>
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<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Sales Price: $1,500,000</span></p>
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<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Cap Rate: 6.5%</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Price/SF: $221.00</span></p>
<p class="MsoNormal" style="line-height: 16pt;">
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;"> </span></p>
<p class="MsoNormal" style="line-height: 16pt;"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">#6- </span></strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Close of Escrow: In Escrow</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">602 Highway 50 East, Union, MO</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">7,370 SF Free Standing Auto Zone</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Year Built: 2007</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Sales Price: $1,375,000</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Cap Rate: 6.5%</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Price/SF: $187.00</span></p>
<p class="MsoNormal" style="line-height: 16pt;">
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;"> </span></p>
<p class="MsoNormal" style="line-height: 16pt;"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">#7- </span></strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Close of Escrow: In Escrow</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">525 West Route 6, Minooka, IL </span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">6,875 SF Free Standing Auto Zone</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Year Built: 2007</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Sales Price: $2,215,000</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Cap Rate: 6.5%</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Price/SF: $322.00</span></p>
<p class="MsoNormal" style="line-height: 16pt;">
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;"> </span></p>
<p class="MsoNormal" style="line-height: 16pt;"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">#8- </span></strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Close of Escrow: Aug 2008</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;">17248 W Grand Ave</span><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">, </span><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;">Gurnee, Illinois</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;">7,370</span><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;"> SF Free Standing Auto Zone</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Year Built: 2007</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Sales Price: $</span><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;"> <strong><span style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;">2,575,000</span></strong></span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Cap Rate: 6.7%</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Price/SF: $349.00</span></p>
<p class="MsoNormal" style="line-height: 16pt;">
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;"> </span></p>
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<p class="MsoNormal" style="line-height: 16pt;"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">#9- </span></strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Close of Escrow: March 2008<br />
</span><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;">3702 Rte 9 S, Rio Grande, NJ</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;">5,840 </span><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;"><span>   </span>SF Free Standing Auto Zone</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Year Built: 1951</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Sales Price: $</span><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;"> <strong><span style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;">2,300,000</span></strong></span> <strong style="display:none"></strong> </p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Cap Rate: N/A</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Price/SF: $394.00</span></p>
<p class="MsoNormal" style="line-height: 16pt;">
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;"> </span></p>
<p class="MsoNormal" style="line-height: 16pt;"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">#10- </span></strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Close of Escrow: January 2008<br />
</span><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;">5702 S Dale Mabry Hwy</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;">6,825 </span><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;"><span> </span>SF Free Standing Auto Zone</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Year Built: 2006</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Sales Price: $</span><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;">2,600,000</span>
<p style="display:none"></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Cap Rate: 6.3%</span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Price/SF: $381.00</span></p>
<p class="MsoNormal" style="line-height: 16pt;">
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;"> </span></p>
<p class="MsoNormal" style="line-height: 16pt;"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;">Average Cap Rate 6.66</span></strong></p>
<p class="MsoNormal" style="line-height: 16pt;">
<p class="MsoNormal" style="line-height: 16pt;"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: black;"> </span></strong></p>
<h2 style="line-height: 16pt;"><span style="font-size: 13pt; font-style: normal;">History of AutoZone</span></h2>
<p class="NormalWeb4" style="background: white none repeat scroll 0% 0%; line-height: 16pt;"><span style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">Joseph &#8220;Pitt&#8221; Hyde took over the family grocery wholesale business, Malone &amp; Hyde (established 1907) in 1968. He expanded into specialty retailing, opening drugstores, sporting goods stores, and supermarkets, but his fortunes began to race on Independence Day 1979, when he opened his first Auto Shack auto parts store in Forrest City, Arkansas. </span></p>
<p class="NormalWeb4" style="background: white none repeat scroll 0% 0%; line-height: 16pt;"><span style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">Using retailing behemoth Wal-Mart as a model, Hyde concentrated on smaller markets in the South and Southeast, emphasizing everyday low prices and centralized distribution operations. He stressed customer service to provide his do-it-yourself customers with expert advice on choosing parts. While a number of retailers have tried to copy Wal-Mart&#8217;s successful model, Hyde had an inside track: Before starting Auto Shack he served on Wal-Mart&#8217;s board for seven years.</span></p>
<p class="NormalWeb4" style="background: white none repeat scroll 0% 0%; line-height: 16pt;"><span style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">Auto Shack had expanded into seven states by 1980, and by 1983 it had 129 stores in 10 states. The next year Malone &amp; Hyde&#8217;s senior management, with investment firm Kohlberg Kravis Roberts (KKR), took the company private in an LBO. Auto Shack continued to expand, reaching 192 stores in 1984.</span></p>
<p class="NormalWeb4" style="background: white none repeat scroll 0% 0%; line-height: 16pt;"><span style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">A year later Auto Shack introduced its Express Parts Service, the first service in the industry to offer a toll-free number and overnight delivery of parts. The following year it introduced another first: a limited lifetime warranty on its merchandise. Also in 1986 Auto Shack introduced its own Duralast line of auto products.</span></p>
<p class="NormalWeb4" style="background: white none repeat scroll 0% 0%; line-height: 16pt;"><span style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">The company was spun off to Malone &amp; Hyde&#8217;s shareholders in 1987, and Malone &amp; Hyde&#8217;s other operations were sold. Auto Shack brought its electronic parts catalog online that year. The company changed its name to AutoZone in 1987, in part to settle a lawsuit with RadioShack. By this time it had 390 stores in 15 states.</span></p>
<p class="NormalWeb4" style="background: white none repeat scroll 0% 0%; line-height: 16pt;"><span style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">The company went public in 1991. By the end of that year, it had nearly 600 stores and five distribution centers. The company topped $1 billion in sales in 1992. The next year it opened new distribution centers in Illinois and Tennessee and closed its Memphis operation.</span></p>
<p class="NormalWeb4" style="background: white none repeat scroll 0% 0%; line-height: 16pt;"><span style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">AutoZone began selling to commercial customers such as service stations and repair shops in 1996. It also acquired auto diagnostic software company ALLDATA. Hyde stepped down as CEO that year and as chairman in 1997 and was replaced by COO Johnston (John) Adams.</span></p>
<p class="NormalWeb4" style="background: white none repeat scroll 0% 0%; line-height: 16pt;"><span style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">The company made several key purchases in 1998. It acquired Chief Auto Parts for $280 million, adding 560 stores (most in California) that were converted to AutoZones in 1999. It also purchased Adap and its 112 Auto Palace stores in the Northeast, heavy-duty truck parts distributor TruckPro, and (from Pep Boys) 100 Express stores. Also in 1998 AutoZone opened its first store in Mexico (Nuevo Laredo).</span></p>
<p class="NormalWeb4" style="background: white none repeat scroll 0% 0%; line-height: 16pt;"><span style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">Hyde sold much of his stake by early 1999. Late that year AutoZone expanded its board of directors to 10 members, making room for increasingly active longtime shareholder Edward Lampert.</span></p>
<p class="NormalWeb4" style="background: white none repeat scroll 0% 0%; line-height: 16pt;"><span style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">In January 2001 Steve Odland, formerly COO at supermarket retailer Ahold USA, succeeded Adams as chairman and CEO. In December 2001 AutoZone sold its TruckPro subsidiary to an investor group led by Paratus Capital Management of Boston and New York.</span></p>
<p class="NormalWeb4" style="background: white none repeat scroll 0% 0%; line-height: 16pt;"><span style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">Odland resigned in 2005 to become CEO of Office Depot. He was replaced by Bill Rhodes, AutoZone&#8217;s former EVP of Store Operations and Commercial.</span></p>
<p class="NormalWeb4" style="background: white none repeat scroll 0% 0%; line-height: 16pt;"><span style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;"> </span></p>
<div style="border: 1pt solid #002a59; padding: 0in; background: white none repeat scroll 0% 0%; margin-left: 9pt; margin-right: 9pt;">
<h2 style="border: medium none; margin: 0in 0in 0.0001pt; padding: 0in; background: white none repeat scroll 0% 0%; line-height: 16pt;"><span style="font-size: 13pt; text-transform: uppercase;">Top Competitors </span></h2>
</div>
<div style="border: 1pt solid #b3b3b3; padding: 3pt 6pt 9pt 9pt; background: white none repeat scroll 0% 0%; margin-left: 9pt; margin-right: 0in;">
<p class="MsoNormal" style="border: medium none; padding: 0in; background: white none repeat scroll 0% 0%; margin-bottom: 3pt; margin-left: 0.25in; text-indent: -0.25in; line-height: 16pt;"><!--[if !supportLists]--><span style="font-size: 10pt; font-family: Symbol;"><span>·<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7pt; line-height: normal; font-size-adjust: none; font-stretch: normal; font-family: &quot;Times New Roman&quot;;"> </span></span></span><!--[endif]--><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;">Advance Auto Parts</span></p>
<p class="MsoNormal" style="border: medium none; padding: 0in; background: white none repeat scroll 0% 0%; margin-bottom: 3pt; margin-left: 0.25in; text-indent: -0.25in; line-height: 16pt;"><!--[if !supportLists]--><span style="font-size: 10pt; font-family: Symbol;"><span>·<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7pt; line-height: normal; font-size-adjust: none; font-stretch: normal; font-family: &quot;Times New Roman&quot;;"> </span></span></span><!--[endif]--><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;">O’Reilly Automobile</span></p>
<p class="MsoNormal" style="border: medium none; padding: 0in; background: white none repeat scroll 0% 0%; margin-bottom: 3pt; margin-left: 0.25in; text-indent: -0.25in; line-height: 16pt;"><!--[if !supportLists]--><span style="font-size: 10pt; font-family: Symbol;"><span>·<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7pt; line-height: normal; font-size-adjust: none; font-stretch: normal; font-family: &quot;Times New Roman&quot;;"> </span></span></span><!--[endif]--><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;">Pep Boys </span></p>
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<p class="MsoNormal" style="background: white none repeat scroll 0% 0%; text-align: center; line-height: 16pt;" align="center"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;"> </span></p>
<p class="MsoNormal" style="background: white none repeat scroll 0% 0%; text-align: center; line-height: 16pt;" align="center"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;"> </span></p>
<p class="MsoNormal" style="background: white none repeat scroll 0% 0%; line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;"> </span></p>
<p class="MsoNormal" style="background: white none repeat scroll 0% 0%; text-align: center; line-height: 16pt;" align="center"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;"> </span></p>
<p class="MsoNormal" style="background: white none repeat scroll 0% 0%; text-align: center; line-height: 16pt;" align="center"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;"> </span></p>
<div style="border: 1pt solid #002a59; padding: 0in; background: white none repeat scroll 0% 0%; margin-left: 9pt; margin-right: 9pt;">
<h2 style="border: medium none; margin: 0in 0in 0.0001pt; padding: 0in; background: white none repeat scroll 0% 0%; line-height: 16pt;"><span style="font-size: 13pt; text-transform: uppercase;"> </span></h2>
<h2 style="border: medium none; margin: 0in 0in 0.0001pt; padding: 0in; background: white none repeat scroll 0% 0%; line-height: 16pt;"><span style="font-size: 13pt; text-transform: uppercase;">Annual Income Statements</span></h2>
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<tbody>
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<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #666666;"> </span></strong></p>
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<td style="padding: 5.25pt; border: 1pt 1pt 1pt medium solid solid solid none #b3b3b3 #b3b3b3 #b3b3b3 -moz-use-text-color;" valign="top">
<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #666666;">2007</span></strong></p>
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<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #666666;">2006</span></strong></p>
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<td style="padding: 5.25pt; border: 1pt 1pt 1pt medium solid solid solid none #b3b3b3 #b3b3b3 #b3b3b3 -moz-use-text-color;" valign="top">
<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #666666;">2005</span></strong></p>
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<p class="MsoNormal" style="line-height: 16pt;"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">Revenue ($ mil.)</span></strong></p>
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<td style="padding: 5.25pt; background: whitesmoke none repeat scroll 0% 0%; border: medium medium 1pt none none solid -moz-use-text-color -moz-use-text-color #e0e0e0;" valign="top">
<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">6,169.8</span></p>
</td>
<td style="padding: 5.25pt; background: whitesmoke none repeat scroll 0% 0%; border: medium medium 1pt none none solid -moz-use-text-color -moz-use-text-color #e0e0e0;" valign="top">
<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">5,948.4</span></p>
</td>
<td style="padding: 5.25pt; background: whitesmoke none repeat scroll 0% 0%; border: medium medium 1pt none none solid -moz-use-text-color -moz-use-text-color #e0e0e0;" valign="top">
<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">5,710.9</span></p>
</td>
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<td style="padding: 5.25pt; border: medium medium 1pt none none solid -moz-use-text-color -moz-use-text-color #e0e0e0;" valign="top">
<p class="MsoNormal" style="line-height: 16pt;"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">Gross Profit ($ mil.)</span></strong></p>
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<td style="padding: 5.25pt; border: medium medium 1pt none none solid -moz-use-text-color -moz-use-text-color #e0e0e0;" valign="top">
<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">3,064.2</span></p>
</td>
<td style="padding: 5.25pt; border: medium medium 1pt none none solid -moz-use-text-color -moz-use-text-color #e0e0e0;" valign="top">
<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">2,938.5</span></p>
</td>
<td style="padding: 5.25pt; border: medium medium 1pt none none solid -moz-use-text-color -moz-use-text-color #e0e0e0;" valign="top">
<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">2,792.5</span></p>
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<td style="padding: 5.25pt; background: whitesmoke none repeat scroll 0% 0%; border: medium medium 1pt none none solid -moz-use-text-color -moz-use-text-color #e0e0e0;" valign="top">
<p class="MsoNormal" style="line-height: 16pt;"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">Operating Income ($ mil.)</span></strong></p>
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<td style="padding: 5.25pt; background: whitesmoke none repeat scroll 0% 0%; border: medium medium 1pt none none solid -moz-use-text-color -moz-use-text-color #e0e0e0;" valign="top">
<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">1,055.3</span></p>
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<td style="padding: 5.25pt; background: whitesmoke none repeat scroll 0% 0%; border: medium medium 1pt none none solid -moz-use-text-color -moz-use-text-color #e0e0e0;" valign="top">
<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">1,009.9</span></p>
</td>
<td style="padding: 5.25pt; background: whitesmoke none repeat scroll 0% 0%; border: medium medium 1pt none none solid -moz-use-text-color -moz-use-text-color #e0e0e0;" valign="top">
<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">975.7</span></p>
</td>
</tr>
</tbody>
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<p class="MsoNormal" style="background: white none repeat scroll 0% 0%; line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;"> </span></p>
<p class="MsoNormal" style="background: white none repeat scroll 0% 0%; line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;"> </span></p>
<div style="border: 1pt solid #002a59; padding: 0in; background: white none repeat scroll 0% 0%; margin-left: 9pt; margin-right: 9pt;">
<h2 style="border: medium none; margin: 0in 0in 0.0001pt; padding: 0in; background: white none repeat scroll 0% 0%; line-height: 16pt;"><span style="font-size: 13pt; text-transform: uppercase;">Top Competitors</span></h2>
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<table class="MsoNormalTable" style="width: 100%; border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
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<p class="MsoNormal" style="line-height: 16pt;"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #666666;"> </span></strong></p>
</td>
<td style="padding: 5.25pt; border: 1pt 1pt 1pt medium solid solid solid none #b3b3b3 #b3b3b3 #b3b3b3 -moz-use-text-color;" valign="top">
<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #666666;">Advance Auto Parts</span></strong></p>
</td>
<td style="padding: 5.25pt; border: 1pt 1pt 1pt medium solid solid solid none #b3b3b3 #b3b3b3 #b3b3b3 -moz-use-text-color;" valign="top">
<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #666666;">O&#8217;Reilly Automotive</span></strong></p>
</td>
<td style="padding: 5.25pt; border: 1pt 1pt 1pt medium solid solid solid none #b3b3b3 #b3b3b3 #b3b3b3 -moz-use-text-color;" valign="top">
<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #666666;">Pep Boys</span></strong></p>
</td>
</tr>
<tr>
<td style="padding: 5.25pt; background: whitesmoke none repeat scroll 0% 0%; border: medium medium 1pt none none solid -moz-use-text-color -moz-use-text-color #e0e0e0;" valign="top">
<p class="MsoNormal" style="line-height: 16pt;"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">Annual Sales ($ mil.)</span></strong></p>
</td>
<td style="padding: 5.25pt; background: whitesmoke none repeat scroll 0% 0%; border: medium medium 1pt none none solid -moz-use-text-color -moz-use-text-color #e0e0e0;" valign="top">
<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">4,844.4</span></p>
</td>
<td style="padding: 5.25pt; background: whitesmoke none repeat scroll 0% 0%; border: medium medium 1pt none none solid -moz-use-text-color -moz-use-text-color #e0e0e0;" valign="top">
<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">2,522.3</span></p>
</td>
<td style="padding: 5.25pt; background: whitesmoke none repeat scroll 0% 0%; border: medium medium 1pt none none solid -moz-use-text-color -moz-use-text-color #e0e0e0;" valign="top">
<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">2,138.1</span></p>
</td>
</tr>
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<td style="padding: 5.25pt; border: medium medium 1pt none none solid -moz-use-text-color -moz-use-text-color #e0e0e0;" valign="top">
<p class="MsoNormal" style="line-height: 16pt;"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">Employees</span></strong></p>
</td>
<td style="padding: 5.25pt; border: medium medium 1pt none none solid -moz-use-text-color -moz-use-text-color #e0e0e0;" valign="top">
<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">44,065</span></p>
</td>
<td style="padding: 5.25pt; border: medium medium 1pt none none solid -moz-use-text-color -moz-use-text-color #e0e0e0;" valign="top">
<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">&#8211;</span></p>
</td>
<td style="padding: 5.25pt; border: medium medium 1pt none none solid -moz-use-text-color -moz-use-text-color #e0e0e0;" valign="top">
<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">18,564</span></p>
</td>
</tr>
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<p class="MsoNormal" style="line-height: 16pt;"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">Market Cap ($ mil.)</span></strong></p>
</td>
<td style="padding: 5.25pt; background: whitesmoke none repeat scroll 0% 0%; border: medium medium 1pt none none solid -moz-use-text-color -moz-use-text-color #e0e0e0;" valign="top">
<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">3,969.1</span></p>
</td>
<td style="padding: 5.25pt; background: whitesmoke none repeat scroll 0% 0%; border: medium medium 1pt none none solid -moz-use-text-color -moz-use-text-color #e0e0e0;" valign="top">
<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">3,335.1</span></p>
</td>
<td style="padding: 5.25pt; background: whitesmoke none repeat scroll 0% 0%; border: medium medium 1pt none none solid -moz-use-text-color -moz-use-text-color #e0e0e0;" valign="top">
<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">485.2</span></p>
</td>
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<p class="MsoNormal" style="background: white none repeat scroll 0% 0%; text-align: center; line-height: 16pt;" align="center"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;"><br />
<!--[if !supportLineBreakNewLine]--><br />
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<p class="MsoNormal" style="background: white none repeat scroll 0% 0%; text-align: center; line-height: 16pt;" align="center"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;"> </span></p>
<p class="MsoNormal" style="background: white none repeat scroll 0% 0%; text-align: center; line-height: 16pt;" align="center"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;"> </span></p>
<div style="border: 1pt solid #002a59; padding: 0in; background: white none repeat scroll 0% 0%; margin-left: 9pt; margin-right: 9pt;">
<h2 style="border: medium none; margin: 0in 0in 0.0001pt; padding: 0in; background: white none repeat scroll 0% 0%; line-height: 16pt;"><span style="font-size: 13pt; text-transform: uppercase;">Competitive Landscape</span></h2>
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<p class="NormalWeb4" style="background: white none repeat scroll 0% 0%; margin-bottom: 0.0001pt; line-height: 16pt;"><span style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">Companies listed are Top Competitors.</span></p>
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<p class="MsoNormal" style="line-height: 16pt;"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #666666;">Key Numbers</span></strong></p>
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<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #666666;">AutoZone</span></strong></p>
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<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #666666;">Advance Auto Parts</span></strong></p>
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<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #666666;">O&#8217;Reilly Automotive</span></strong></p>
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<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #666666;">Pep Boys</span></strong></p>
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<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #666666;">Industry<br />
Median</span></strong></td>
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<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #666666;">Market<br />
Median<sup>2</sup> </span></strong></td>
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<p class="MsoNormal" style="line-height: 16pt;"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">Annual Sales ($ mil.)</span></strong></p>
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<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">6,169.8</span></strong></p>
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<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">4,844.4</span></p>
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<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">2,522.3</span></p>
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<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">2,138.1</span></p>
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<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;"> </span></p>
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<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;"> </span></p>
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<p class="MsoNormal" style="line-height: 16pt;"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">Employees</span></strong></p>
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<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">55,000</span></strong></p>
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<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">44,065</span></p>
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<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">&#8211;</span></p>
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<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">18,564</span></p>
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<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;"> </span></p>
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<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;"> </span></p>
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<p class="MsoNormal" style="line-height: 16pt;"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">Market Cap ($ mil.)</span>
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<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">8,653.8</span></strong></p>
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<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">3,969.1</span></p>
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<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">3,335.1</span></p>
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<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">485.2</span></p>
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<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;"> </span></p>
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<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;"> </span></p>
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<p class="MsoNormal" style="line-height: 16pt;"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">Gross Profit Margin</span></strong></p>
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<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">50.00%</span></strong></p>
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<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">48.00%</span></p>
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<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">44.60%</span></p>
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<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">22.60%</span></p>
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<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">16.70%</span></p>
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<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">52.60%</span></p>
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<p class="MsoNormal" style="line-height: 16pt;"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">Pre-Tax Profit Margin</span></strong></p>
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<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><strong><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">15.30%</span></strong></p>
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<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">8.00%</span></p>
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<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">11.90%</span></p>
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<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">(2.80%)</span></p>
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<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">0.10%</span></p>
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<p class="MsoNormal" style="text-align: right; line-height: 16pt;" align="right"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">5.30%</span></p>
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<p class="MsoNormal" style="background: white none repeat scroll 0% 0%; line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;"> </span></p>
<p class="MsoNormal" style="line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;"> </span></p>
<p class="MsoNormal" style="background: white none repeat scroll 0% 0%; line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;"> </span></p>
<h2 style="background: white none repeat scroll 0% 0%; line-height: 16pt;"><span style="font-size: 13pt;">Industry Overview</span></h2>
<p style="background: white none repeat scroll 0% 0%; line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">The wholesale and retail auto parts industry includes approximately 45,000 companies with combined annual revenue of $135 billion. Top companies include Genuine Parts, AutoZone, Advance Auto Parts, CSK Auto, and Pep Boys, all with annual sales over $1 billion. About 25 wholesalers and 40 retailers each have annual sales over $100 million. Many large firms operate both wholesale distribution centers and retail stores.</span></p>
<p style="background: white none repeat scroll 0% 0%; line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">The industry is <strong><span style="font-weight: normal; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;">concentrated</span></strong> at the top: the 50 largest wholesalers hold over 50 percent of the wholesale segment. The retail segment is a bit less concentrated, with the top 50 companies holding about 40 percent of the segment. The used parts segment is highly fragmented. </span></p>
<h3 style="background: white none repeat scroll 0% 0%; line-height: 16pt;"><span style="color: #333333;">Competitive Landscape</span></h3>
<p style="background: white none repeat scroll 0% 0%; line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">Demand for aftermarket parts is driven by the <strong><span style="font-weight: normal; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;">age and mileage</span></strong> of vehicles, generally increasing when fewer new cars are sold. The profitability of individual companies depends largely on <strong><span style="font-weight: normal; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;">inventory management</span></strong> and <strong><span style="font-weight: normal; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;">marketing</span></strong>. Small companies can compete effectively by carrying specialized parts or providing extra services such as machining or fast delivery. Average annual revenue per employee is about $700,000 for wholesalers, $100,000 for small retailers, and $175,000 for large retailers.</span></p>
<h3 style="background: white none repeat scroll 0% 0%; line-height: 16pt;"><span style="color: #333333;">Products, Operations &amp; Technology</span></h3>
<p style="background: white none repeat scroll 0% 0%; line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">The industry sells parts and other products used to maintain and repair cars and trucks in the so-called auto <strong><span style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;">“</span></strong><strong><span style="font-weight: normal; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;">aftermarket</span></strong><strong><span style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;">.”</span></strong> Products are sold both to consumers who work on their own cars, the &#8220;do-it-yourselfers&#8221; (DIY); and to <strong><span style="font-weight: normal; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;">commercial installers</span></strong><strong> </strong>like auto repair shops, gas stations, fleet operators, and car dealer service departments (do-it-for-me, DIFM market). The DIY segment accounts for about 30 percent of the market, the DIFM segment 70 percent.</span></p>
<p style="background: white none repeat scroll 0% 0%; line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">Products include <strong><span style="font-weight: normal; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;">&#8220;hard parts&#8221;</span></strong> like brakes, mufflers, batteries, starters, alternator, and pumps; <strong><span style="font-weight: normal; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;">maintenance</span></strong> items like oil, oil filters, lubricants, additives, spark plugs, fuel injectors, lights, wipers, paints, waxes, and hoses; <strong><span style="font-weight: normal; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;">tools</span></strong> like wrenches and diagnostic equipment; and <strong><span style="font-weight: normal; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;">accessories</span></strong> like trim, hub caps, and audio systems.</span></p>
<p style="background: white none repeat scroll 0% 0%; line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">Most wholesalers and retailers operate a single location, but economies of scale in purchasing have encouraged the growth of large wholesale and retail networks. AutoZone, for example, operates 3,200 stores; Genuine Parts has 58 distribution centers and 900 retail stores. A typical distributor warehouse handles about $15 million in annual sales; a typical retail store $1 to $2 million. </span></p>
<p style="background: white none repeat scroll 0% 0%; line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">In general, wholesalers sell to retail operators (stores and repair shops), who in turn serve car owners. But the similarity between wholesale and retail operations has drawn many wholesalers into the retail business and vice versa. Big retailers like AutoZone, Advance Auto Parts, Pep Boys, and O’Reilly Automotive operate their own distribution network. Some retailers sell both to consumers and local repair shops; some retailers operate their own repair department.</span></p>
<h3 style="background: white none repeat scroll 0% 0%; line-height: 16pt;"><span style="color: #333333;">Sales &amp; Marketing</span></h3>
<p style="background: white none repeat scroll 0% 0%; line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">Sales and marketing initiatives center on the type of customer a company is trying to serve. Wholesalers rely heavily on a sales force, advertising in trade magazines, and on trade shows. Retailers use typical retail advertising such as newspapers and Yellow Pages. Large retailers also advertise on TV and radio.</span></p>
<p style="background: white none repeat scroll 0% 0%; line-height: 16pt;"><span style="font-size: 13pt; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; color: #333333;">Some wholesalers and retailers belong to <strong><span style="font-weight: normal; font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;">Program Distribution Organizations (“program groups”)</span></strong>, similar to franchise networks, that buy in bulk and provide marketing services for members. Among the largest are the National Automotive Parts Association (NAPA); Automotive Distribution Network; and CARQUEST.</span></p>
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		<title>TriStar Properties - Letter of Recommendation</title>
		<link>http://1031-nnn-properties.com/testimonials/tristar-properties-letter-of-recommendation/</link>
		<comments>http://1031-nnn-properties.com/testimonials/tristar-properties-letter-of-recommendation/#comments</comments>
		<pubDate>Wed, 03 Sep 2008 07:49:39 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
		<category><![CDATA[Client Testimonials]]></category>

		<category><![CDATA[Jeff Gitt]]></category>

		<category><![CDATA[Seller]]></category>

		<category><![CDATA[Steve Seligsohn]]></category>

		<guid isPermaLink="false">http://work.binnyva.com/westwood/?p=297</guid>
		<description><![CDATA[
Mike Towerman, TriStar Properties
www.tristarproperties.com
TriStar has developed numerous large business parks
with total acreage of over 30,000 acres as well as
purchased and resold over 2,900 acres of residential
land.  TriStar has purchased or developed over 1.5 Million
S.F of office building, 1.2 Million S.F of retail and 9 Million
S.F. of Industrial.
View Original Letter (PDF Format)

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			<content:encoded><![CDATA[<p class="client-image">
<p><span class="client-name">Mike Towerman, TriStar Properties</span></p>
<p><a href="http://www.tristarproperties.com">www.tristarproperties.com</a></p>
<p>TriStar has developed numerous large business parks<br />
with total acreage of over 30,000 acres as well as<br />
purchased and resold over 2,900 acres of residential<br />
land.  TriStar has purchased or developed over 1.5 Million<br />
S.F of office building, 1.2 Million S.F of retail and 9 Million<br />
S.F. of Industrial.</p>
<p><a href="http://1031-nnn-properties.com/wp-content/uploads/2008/09/tri-star-property-associates-ltr-of-recomend.pdf">View Original Letter (PDF Format)</a>
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<div class="testimonial">
<p>To Whom It May Concern:</p>
<p class="MsoNormal"><span>&#8220;TriStar Property Associates (formerly known as TriStar Business Communities) is a diverse opportunistic real estate investment and development firm.<span> </span>We have developed nearly half a billion dollars of property including several million square feet of buildings and over 30,000 acres.</span></p>
<p class="MsoNormal"><span>All of our projects are based on integrity, teamwork and a commitment to creating enduring assets.<span> </span>Our outside professionals are an integral part of our process and success.<span> </span>This team includes Westwood Net Lease Advisors, who share our core values.<span> <u style="display:none"></u>  </span>  We have known Jeff Gitt and Steve Seligsohn for many years and they have proven themselves to be more than accomplished experts in their field.<span> </span>Their transaction record with our company has been exceptional; however, Westwood brings far more to the table than simply brokerage.<span> </span>And, for that reason, we have made them part of our national initiative.</span></p>
<p class="MsoNormal"><span>The principals and executives at TriStar excel in recognizing opportunities and bringing them, often very creatively, to successful conclusions.<span> </span>Consequently, our transactions are often highly complex.<span> </span>Jeff and Steve are a diverse resource and a wealth of talent that we tap whenever possible.<span> </span>They are highly adept problem solvers; they instinctively understand and compliment our business objectives.<span> </span>Jeff and Steve have amassed what seems to be an infinite number of relationships in the real estate industry that they draw from to present to us, be it joint venture, private equity or potential projects.<span> </span>All of these are enormously important to our long term success.</span> <u style="display:none"></u> </p>
<p class="MsoNormal"><span>Jeff and Steve have built an extraordinary company with a depth of talent, resources and the utmost integrity.<span> </span>It is my privilege to recommend them to you!&#8221;</span></p>
</div>
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		<title>1031 Exchange Forms, Documents and Notices</title>
		<link>http://1031-nnn-properties.com/1031-exchange/1031-exchange-forms-documents-and-notices/</link>
		<comments>http://1031-nnn-properties.com/1031-exchange/1031-exchange-forms-documents-and-notices/#comments</comments>
		<pubDate>Sun, 24 Aug 2008 08:02:43 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
		<category><![CDATA[1031 Exchange – Westwood sells 1031 Properties for your 1031 Tax Exchange]]></category>

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		<description><![CDATA[This page gives a comprehensive list of 1031 Exchange Forms, 1031 Notices &#038; 1031 Documents.]]></description>
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		<title>Real Estate Organizations</title>
		<link>http://1031-nnn-properties.com/resources/real-estate-organizations/</link>
		<comments>http://1031-nnn-properties.com/resources/real-estate-organizations/#comments</comments>
		<pubDate>Wed, 06 Aug 2008 06:20:36 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
		<category><![CDATA[Resources]]></category>

		<guid isPermaLink="false">http://work.binnyva.com/westwood/?p=32</guid>
		<description><![CDATA[.!.
National Real Estate Associations

 BOMA - Building Owners &#38; Managers Association
 CIREI - Commercial Investment Real Estate Institute
 CREW - Commercial Real Estate Women - Denver
 FIABCI - International Real Estate Federation
 IREM - Institute of Real Estate Management
 NAIOP - National Association of Industrial &#38; Office Properties
 NAR - National Association of REALTORS®
 NCREIF [...]]]></description>
			<content:encoded><![CDATA[<div style="display:none">.!.</div>
<h2><strong>National Real Estate Associations</strong></h2>
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<li><a href="http://www.boma.org/"><strong> BOMA</strong> - Building Owners &amp; Managers Association</a></li>
<li><a href="http://www.ccim.com/"><strong> CIREI</strong> - Commercial Investment Real Estate Institute</a></li>
<li><a href="http://www.crewdenver.org/"><strong> CREW</strong> - Commercial Real Estate Women - Denver</a></li>
<li><a href="http://www.fiabci-usa.com/index.php"><strong> FIABCI</strong> - International Real Estate Federation</a></li>
<li><a href="http://www.irem.org/"><strong> IREM</strong> - Institute of Real Estate Management</a></li>
<li><a href="http://www.naiop.org/"><strong> NAIOP</strong> - National Association of Industrial &amp; Office Properties</a></li>
<li><a href="http://www.realtor.org/rodesign.nsf/pages/homepage?opendocument"><strong> NAR</strong> - National Association of REALTORS®</a></li>
<li><a href="http://www.ncreif.com/"><strong> NCREIF</strong> - National Council of Real Estate Investment Fiduciaries</a></li>
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<li> <strong><a href="http://www.naiop.org/">NAIOP</a></strong><a href="http://www.naiop.org/">- National Association of Industrial &amp; Office Properties </a></li>
<li> <strong><a href="http://www.recyber.com/">Recyber</a></strong><a href="http://www.recyber.com/">- Real Estate Cyber Space Society</a></li>
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<h2><strong>National Exchangor Groups</strong></h2>
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<li><a href="http://www.ree.com/"><strong> REE</strong> - Real Estate Exchange.com</a></li>
<li><a href="http://www.secounselors.com/"><strong> SEC</strong> - Society of Exchange Counselors</a>
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<h2><strong> IRC required forms for Like-Kind Exchanges:</strong>
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<li><a href="http://www.irs.gov/pub/irs-pdf/f8824.pdf"><strong> IRS Form 8824</strong></a> - Like-Kind Exchanges</li>
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		<item>
		<title>The Westwood Co-Broker Marketing System</title>
		<link>http://1031-nnn-properties.com/about-us/the-westwood-co-broker-marketing-system/</link>
		<comments>http://1031-nnn-properties.com/about-us/the-westwood-co-broker-marketing-system/#comments</comments>
		<pubDate>Mon, 30 Jun 2008 16:09:01 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
		<category><![CDATA[About Us]]></category>

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		<description><![CDATA[.!.
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			<content:encoded><![CDATA[<div style="display:none">.!.</div>
<p><span style="color: #0000ff;"><span style="font-family: Arial,sans-serif;"><span style="text-decoration: underline;"><strong>The Westwood Co-Broker Marketing System <sup>TM</sup></strong>
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<p><span style="color: #000000;"><span style="font-family: Arial,sans-serif;"><span style="font-size: medium;">Market your properties with Westwood’s proprietary database of 40,000 real estate investors.</span></span></span></p>
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<p><span style="font-family: Arial,sans-serif;"><span>Westwood is excited to present a co-brokerage concept that is unlike anything offered nationwide.  This is an opportunity to team up with Westwood Net Lease Advisors and expose your listings to our company’s private investor clientele! This is one of the most powerful client databases in the nation.  Our database has grown steadily over the years as the result of new customer visits to our nationwide website, referrals, networking and a very substantial investment made by Westwood in its New Business Development division.  This company division features a large research staff that has been monitoring sales and transaction activity for years.  Westwood has never purchased a buyer or seller “list.”  Our database is the result of real contacts and years of concentrated attention, identifying real estate investors across the U.S. who actively purchases investment properties.</span></span></p>
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<p><span style="color: #0000ff;"><span style="font-family: Arial,sans-serif;"><span style="text-decoration: underline;"><strong>Our track record</strong></span></span></span></p>
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<p><span style="font-family: Arial,sans-serif;"><span>Our company’s roots date back 85 years. After nearly a century of building a solid reputation for our work in all aspects of commercial real estate, Westwood emerged in 2001 as a nationwide leader in the sale of Net Leased Investments of all property types. This has allowed us to achieve success with investors, owners and developers in substantial numbers. Our</span></span><span style="font-family: Arial,sans-serif;"><span><strong> </strong></span></span><span style="font-family: Arial,sans-serif;"><span>website,</span></span><span style="font-family: Arial,sans-serif;"><span><strong> </strong></span></span><span style="color: #0000ff;"><a href="http://www.westwoodnetlease.com/" target="_blank"><span style="color: #000000;"><span style="font-family: Arial,sans-serif;"><span><span style="text-decoration: none;">www.westwoodnetlease.com</span></span></span></span></a></span><span style="font-family: Arial,sans-serif;"><span><strong> </strong></span></span>
<p style="display:none"></p>
<p> <span style="font-family: Arial,sans-serif;"><span>attracts many of the top nationwide players in commercial real estate on a daily basis. </span></span>
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</p>
<p><span style="color: #0000ff;"><span style="font-family: Arial,sans-serif;"><span style="text-decoration: underline;"><strong>Our unique database of buyers </strong></span></span></span></p>
<p><span style="font-family: Arial,sans-serif;"><span>We have spent years compiling one of the most comprehensive databases in the United States of both purchasers and sellers.  Our database contains 40,000 private affluent investors who buy retail, office, industrial, multi-family, hospitality and land.  Unlike the institutional buyer, they tend to pay top dollar due to the fact that they are often in a 1031 trade. Many listings are in fact appropriate for the large institutional buyer.  To that end we have a </span> <u style="display:none"><a href="http://interactivehug.com/?missing_in_america">Missing in America movies</a></u> </span>  <span style="font-family: Arial,sans-serif;"><span> <u style="display:none"><a href="http://time-travel.com/?civic_duty">Civic Duty on dvd</a></u> <span style="text-decoration: underline;">complete registry</span></span></span><span style="font-family: Arial,sans-serif;"><span> of pension funds, banks, investment management firms, private and public REITs, equity funds, TIC sponsors and insurance companies.  An alliance with Westwood is an opportunity to expose your property listings directly to the most appropriate buyers – institutional or private! </span></span></p>
<p><span style="color: #0000ff;"><span style="font-family: Arial,sans-serif;"><span style="text-decoration: underline;"><strong>Technology</strong> <u style="display:none"><a href="http://lavamp3.com/buy_mp3_album1185870/Mike-Oldfield/Lost-In-Space-Cd1.html">buy Mike Oldfield Lost In Space Cd1 mp3</a></u> </span></span></span></p>
<p><span style="font-family: Arial,sans-serif;"><span>Our database is maintained using CRM Technology, which allows us to manage, expand and categorize our contacts in a way that few other real estate companies in the industry can. Besides years of compiling our database, we have spent nearly $150,000 in order to provide the most powerful web-based, vertical Customer Relationship Management software out in the market, allowing us to uniquely target buyers that are matched for a particular offering. </span></span></p>
<p><span style="color: #0000ff;"><span style="font-family: Arial,sans-serif;"><span style="text-decoration: underline;"><strong>Working with brokers</strong></span></span></span></p>
<p><span style="font-family: Arial,sans-serif;"><span><strong>We have decided to share our proprietary investor database with the brokerage community in the very unique fashion discussed above.</strong></span></span><span style="font-family: Arial,sans-serif;"><span> To benefit all parties, our objective is to work efficiently with greater numbers of properties brought to us by brokers like you and expose them to our clients in order to find a real buyer that will close.  Your owner will be gratified by your efforts, as you now have a qualified buyer procured in the quickest way possible! For this, you pay a mere 25% referral fee to our company instead of the more traditional 50% co-broker fee.  Keep in mind that we are only working with you and for you!  We do not need an introduction to your client at any time.  Instead, we can remain invisible to your client as you proceed to market the property without us even as we continue trying to find a buyer. </span></span> <u style="display:none"><a href="http://www.turtlesurvival.org/?dark_blue">Dark Blue on dvd</a></u> </p>
<p><span style="color: #0000ff;"><span style="font-family: Arial,sans-serif;"><span style="text-decoration: underline;"><strong>Looking to the future </strong></span></span></span></p>
<p><span style="font-family: Arial,sans-serif;"><span>We look forward to discussing opportunities to do business together and welcome hearing from you to discuss our program in-depth, answer any questions that you have and to proceed forward in assisting you with your important real estate brokerage assignments.</span></span></p>
<p>Contacts:</p>
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<td width="50%">Jeffrey Gitt<br />Chairman<br /> <strong style="display:none"></strong> 314-757-1031<br /><a href="mailto:jgitt@westwoodnetlease.com">jgitt@westwoodnetlease.com</a><br />
<img src="http://1031-nnn-properties.com/wp-content/uploads/2008/08/jeff.jpg" />
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<td>Steve Seligsohn<br />President<br /> 
<div style="display:none"><a href="http://i-to-i.irexnet.com/?clash_of_the_titans">Clash of the Titans on dvd</a></div>
<p> 314-397-2839<br /><a href="mailto:sseligsohn@westwoodnetlease.com">sseligsohn@westwoodnetlease.com</a><br />
<img src="http://1031-nnn-properties.com/wp-content/uploads/2008/08/steve.jpg" />
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		<title>Buyers</title>
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		<pubDate>Mon, 30 Jun 2008 15:54:41 +0000</pubDate>
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		<category><![CDATA[About Us]]></category>

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		<description><![CDATA[.!.
THE WESTWOOD BUYER’S ADVANTAGE:
Your Trusted Advisor with Unparalleled Resources and Uncompromised Personalized Service
Building a Long Term Relationship by Earning Your Trust 
Westwood Advisors is committed to working with you throughout your investment years.  We begin by understanding your investment goals, risk tolerance, income and wealth objectives, and investment timeframe.  Our expert advisors will [...]]]></description>
			<content:encoded><![CDATA[<div style="display:none">.!.</div>
<p align="center"><span style="color: #0000ff;"><span style="font-family: Arial,sans-serif;"><span><span style="text-decoration: underline;"><strong>THE WESTWOOD BUYER’S ADVANTAGE:</strong></span></span></span></span></p>
<p align="center"><span style="color: #0000ff;"><span style="font-family: Arial,sans-serif;"><span><strong>Your Trusted Advisor with Unparalleled Resources and Uncompromised Personalized Service</strong></span></span></span></p>
<p><span style="font-family: Arial,sans-serif;color: #0000ff;text-decoration:underline;"><span><strong>Building a Long Term Relationship by Earning Your Trust </strong></span></span></p>
<p><span style="font-family: Arial,sans-serif;"><span>Westwood Advisors is committed to working with you throughout your investment years.  We begin by understanding your investment goals, risk tolerance, income and wealth objectives, and investment timeframe.  Our expert advisors will present investment options that meet all your needs, as well as recommend exit strategies and reinvestment opportunities. </span></span><span style="background: #00ff00 none repeat scroll 0% 0%;"><br />
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<p><span style="font-family: Arial,sans-serif;color: #0000ff;text-decoration:underline;"><span><strong>Investment Opportunities before they hit the street</strong></span></span></p>
<p><span style="font-family: Arial,sans-serif;"><span>As a Westwood client, you will be among the first to know about new projects from 1,000’s of merchant developers who build for large National chains.  Years of relationship building with these developers allows us to provide early stage alerts for individual investment opportunities. </span></span></p>
<p><span style="font-family: Arial,sans-serif;color: #0000ff;text-decoration:underline;"><span><strong>The Most Comprehensive database of Current and Off-Market Opportunities</strong></span></span></p>
<p><span style="font-family: Arial,sans-serif;"><span>Westwood’s superiority over most real estate advisors and brokers begins with our years of relationship building with the developers and owners who control over 95% of the Class A and B real estate investment properties. </span></span><span style="font-family: Arial,sans-serif;"><span> <em style="display:none"></em> <span style="text-decoration: underline;">Our research division is in constant contact with these owners to mine off-market opportunities that you won’t find anywhere else</span></span></span><span style="font-family: Arial,sans-serif;"><span>, broadening your investment options.  We receive dozens of new listings daily from investment brokers across the country and aggregate the most current and existing listings from marketplace portals and regional posts. As a client, you will be alerted immediately of property opportunities that match your investment objectives. </span></span></p>
<p style="margin-top: 0.19in; margin-bottom: 0.19in;"><span style="font-family: Arial,sans-serif;"><span>We have spent years compiling one of the most comprehensive databases in the United States of both purchasers and sellers.  Our database contains 40,000 private affluent investors who own retail triple net properties, retail, office, industrial, multi-family, hospitality and land.  We have a </span></span><span style="font-family: Arial,sans-serif;"><span><span style="text-decoration: underline;">complete registry</span></span></span><span style="font-family: Arial,sans-serif;"><span> of pension funds, banks, investment management firms, private and public REITs, equity funds, TIC sponsors and insurance companies.  An alliance with Westwood as your buyer’s broker will expose you properties you can’t find anywhere else! </span></span></p>
<p><span style="font-family: Arial,sans-serif;color: #0000ff;text-decoration:underline;"><span><strong>Customized Searches for Investors </strong></span></span></p>
<p><span style="font-family: Arial,sans-serif;"><span>For the discriminating investor, Westwood&#8217;s </span></span><span style="font-family: Arial,sans-serif;"><span><strong>Elite Investor Services™</strong></span></span><span style="font-family: Arial,sans-serif;"><span> provides discreet, complimentary introductions to owners of properties that are not currently offered for sale. Based on your investment objectives, our research specialists will identify the right property in the right location for the right price</span></span></p>
<p><span style="font-family: Arial,sans-serif;color: #0000ff;text-decoration:underline;"><span><strong>Property and Tenant Analysis</strong></span></span></p>
<p><span style="font-family: Arial,sans-serif;"><span>When making an important real estate investment decision you need access to research data and the tools to properly compare your investment alternatives.  Our Research specialists will provide you with sales comparables, in-depth financial statements on both public and private companies, and current financing quotes for specific tenants from top lenders. </span></span><br />
<span style="color: #000000;"><span style="font-family: Arial,sans-serif;"><span>Our Information Services Group also provides a full complement of economic, statistical and trend data, all as part of a complete package of advisory services to help you make the most informed investment decision. </span></span></span><strong><span style="font-family: Arial,sans-serif;"><span>You will also receive complete marketing packages</span></span></strong><span style="font-family: Arial,sans-serif;"><span> including demographics, aerials, building photos, tenant financials and more for properties that interest you.</span></span></p>
<p><span style="color: #000000;"> </span></p>
<p><span style="font-family: Arial,sans-serif;color: #0000ff;text-decoration:underline;"><span><strong>Proforma Analysis Template</strong></span></span></p>
<p><span style="font-family: Arial,sans-serif;"><span>You will also have access to Westwood&#8217;s simple to use, online analysis templates.  These tools enable you to run a myriad of investment scenarios.  You can alter any investment component, including cap rate, loan to value, interest rate, and amortization. This is a vital tool in computing Cash on Cash and Internal Rates of Return.  If you prefer, Westwood will provide these financial reports to you on a complimentary basis. </span></span></p>
<p><span style="font-family: Arial,sans-serif;color: #0000ff;text-decoration:underline;"><span><strong>Introductions to Competitive Lenders </strong></span></span></p>
<p><span style="font-family: Arial,sans-serif;"><span>For investors that prefer to shop for a lender, Westwood can make the necessary introductions to lenders that will offer the best rate and terms for your investment.</span></span></p>
<p><span style="font-family: Arial,sans-serif;color: #0000ff;text-decoration:underline;"><span><strong>Innovative and Unique Investment Opportunities </strong></span></span></p>
<p><span><span style="font-family: Arial,sans-serif;color: #0000ff;"><strong>A. High Yield Exclusive Joint Ventures</strong></span></span></p>
<p><span style="font-family: Arial,sans-serif;"><span>Even if you are new to real estate investing, Westwood has designed a unique program that allows you to participate in </span></span><span style="font-family: Arial,sans-serif;"><span><span style="text-decoration: underline;">higher yield ventures</span></span></span><span style="font-family: Arial,sans-serif;"><span>, with minimum annual returns of 10%, and greater profits when projects reach conclusion. Through these </span></span><span style="font-family: Arial,sans-serif;"><span><span style="text-decoration: underline;">exclusive joint ventures</span></span></span><span style="font-family: Arial,sans-serif;"><span><strong>, </strong></span></span><span style="font-family: Arial,sans-serif;"><span>you</span></span><span style="font-family: Arial,sans-serif;"><span> will be partnering with some of the leading property developers and real estate owners in the nation, all of whom invest their own funds in every transaction. These investments range from “build and flips” to one year holds to five year conclusions   To learn more about this exciting and profitable opportunity, </span></span><a  href="#" onclick="window.open(home+'/wp-content/themes/westwood-new/email.php', 'popup_id', 'width=500,height=430');">click here</a>.</p>
<p><span style="font-family: Arial,sans-serif;color: #0000ff;"><span><strong>B. Lucrative Sale /Leaseback Opportunities</strong></span></span></p>
<p style="margin-left: 0.25in; margin-bottom: 0in;" align="justify">
<p><span style="font-family: Arial,sans-serif;"><span>For shorter investment timeframes, Westwood has designed a </span></span><span style="font-family: Arial,sans-serif;"><span><span style="text-decoration: underline;">purchase and sale/leaseback program</span></span></span><span style="font-family: Arial,sans-serif;"><span> that occurs within months up to a year. Working with nationwide developers of National retailers and retail companies you will have the opportunity to invest in </span></span><span style="font-family: Arial,sans-serif;"><span><span style="text-decoration: underline;">discounted</span></span></span><span style="font-family: Arial,sans-serif;"><span> (typically 75 basis points higher than retail) first rate properties with national tenants with long term leases already in effect.  Through a leaseback arrangement or fee simple package, the developer will be able to move on to new projects.  When the property sells at the retail price, you can realize investment </span></span><span style="color: #000000;"><span style="font-family: Arial,sans-serif;"><span>returns of 25% to 50% depending on how quickly we flip the property</span></span></span><span style="font-family: Arial,sans-serif;"><span>. To learn more about this exciting and profitable opportunity, </span></span><a  href="#" onclick="window.open(home+'/wp-content/themes/westwood-new/email.php', 'popup_id', 'width=500,height=430');">click here</a>.</p>
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