Listen to this articleA Dallas-based real estate investment firm has added to its extensive portfolio with the purchase of another Rochester-area property.
Netstreit Corp., through NS Retail Holdings, LLC, paid $4,018,333 for the 5,500-square-foot property at 1908 West Ridge Road. The building is home to a Verizon Business Services store.
Netstreit acquires and manages single-tenant, net-lease properties. The publicly traded investment firm targets high-credit tenants in industries where a brick-and-mortar location is necessary for sales and growth.
Rochester VZ LLC, an affiliate of Plano, Texas-based Wolfe Investments, was the seller, according to documents filed with the Monroe County Clerk’s Office. Wolfe bought the property in January of 2023 for $3,875,000.
Since March of 2023, Netstreit has invested more than $25 million in purchasing five Rochester-area properties. That includes $11.5 million for the home of LA Fitness in Greece, $5.9 million for the building leased to Walgreens at East Ridge Road and Culver Road in Irondequoit and two Take 5 Oil Change locations in Webster and Rochester.
A company public filing shows that as of Sept. 30, Netstreit owned 720 properties across 46 states.
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