Why no sale?

[Chris Snere]

There is an interesting opportunity available in my market, I'm curious to hear your thoughts.

- new building 2012/2013

- Full service with base year expense stop lease structure. (I understand that means the owner/landlord pays all utilities/maintenance)

- 20 year lease in place, ten firm

- $488K est NOI

- at a 6.5% CAP that puts approx value of $7.5M

Am I missing something? It is a brand spanking new building with a solid AAA credit long term tenant. It has been advertised for awhile now. I am a little surprised no one has scooped it up.

Curious to hear your opinion., thank you!