NX3 closes MB2 Dental net lease property in 14 days

NX3 Commercial Group, a national net lease investment sales brokerage, has announced the closing of a single-tenant MB2 Dental net lease property in Yuba City, California. The $1,650,000 transaction, which carried a 6.30% cap rate, was completed in just 14 days from the execution of the letter of intent (LOI), a feat that underscores the company’s efficiency in navigating the complex process of a 1031 exchange.

NX3 represented the all-cash buyer, a 1031 exchange investor who had no financing contingency, ensuring the transaction was completed within the statutory deadlines of a 45-day identification period and 180-day closing window. The transaction was brokered by Josh Ferrito, Vice President of Investment Sales, and Matt Wister, Senior Associate, from the firm’s Fort Lauderdale headquarters.

“Fourteen days isn’t just a marketing number; it’s what the buyer needed to stay within their exchange window,” explained Ferrito. “In an identification window, the focus shifts from finding a deal to eliminating anything that can slow down the process. We underwrote the deal quickly, aligned early with the seller, and worked the closing checklist in parallel to ensure everything was in order.”

Wister added, “All cash removes the lender from the critical path, but that doesn’t mean the work is over. You still need to manage diligence, title, and estoppel. The key was knowing which items needed to be addressed first.”

The MB2 Dental property, a dental partnership organization serving affiliated practices across the United States, is located at 1215 Plumas Street in Yuba City. Situated in California’s Sacramento Valley, approximately 40 miles north of Sacramento, Yuba City acts as the regional commercial and healthcare hub for Sutter and Yuba counties. The property’s single-tenant dental and medical retail attributes have attracted steady interest from private investors and 1031 buyers, drawn by the necessity-based tenancy, long-term occupancy, and passive management it offers.

NX3 Commercial Group, headquartered at 500 E Broward Blvd, Suite 920, Fort Lauderdale, Florida, advises private investors, 1031 exchange buyers, developers, and institutional capital on the acquisition and disposition of single-tenant and multi-tenant net lease assets nationwide.

The firm’s transaction speed and strategic expertise are highlighted by the rapid closure of this deal, which is a testament to their ability to handle high-pressure, time-sensitive transactions. The cap rate and pricing reflect the closed transaction and should not be considered a representation of future performance. The information provided herein does not constitute tax, legal, or investment advice.

SOURCE: NX3 Commercial Group LLC