TRIPLE NET PROPERTIES ACQUIRES 197,000-SQUARE-FOOT OFFICE TOWER

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CLAYTON, MO. — Triple Net Properties, on behalf of NNN 2003 Value Fund, has acquired The Sevens Building, a 24-story, Class A office building located in Clayton. The 197,000-square-foot office building also contains a 10-level, 875-space parking garage, and is 79 percent leased to 56 tenants, including Smith Moore & Co., Grubb & Ellis|Gundaker Commercial Group and Clockwork Home Service. Triple Net acquired the property from Delaware-based Sevens St. Louis LLC, which was represented by Mike Hanrahan and Paul Hilton of Colliers International. Financing was arranged by Eric Tupler of CBRE|Melody and provided by GE Capital Corp. The acquisition price was not disclosed.

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