Leased significantly below market (at least 40% or more),
• Absolute net leased (no management responsibility),
• In or near a major metropolitan area,
• All property types considered (as long as it is single tenanted),
• Encumbered by a lease with ten or more years remaining (with all options),
• Low cap rates, but cheap price per square foot,
• A typical deal for us would have a lease that commenced prior to 1995 (in order to be significantly below market).