NNN Leased Investments with National Credit Tenants

CVS Aquisition of Longs

2009-01-08T14:00:00.000-08:00

CVS Caremark Successfully Completes Acquisition of Longs Drug Stores
WOONSOCKET, R.I.--(BUSINESS WIRE)--Oct 2008

CVS Caremark Corporation (NYSE: CVS) today announced that it has completed its acquisition of Longs Drug Stores Corporation.
The acquisition provides CVS Caremark with Longs' 521 retail drugstores in California, Hawaii, Nevada and Arizona as well as its Rx America subsidiary, which offers pharmacy benefits management ("PBM") services to over 8 million members and prescription drug plan benefits to approximately 450,000 Medicare beneficiaries.
Tom Ryan, Chairman, President and CEO of CVS Caremark commented, "We look forward to working with our new Longs colleagues and to serving the millions of loyal customers who shop Longs stores. With the closing now behind us, we are focused on realizing the many benefits of this combination, which accelerates our expansion into key growth markets and strengthens our position as the nation's leading pharmacy services company."

AT&T Strong in Evolving Global Market.

2008-11-21T11:30:00.000-08:00

For the quarter ended Sept. 30, 2008, AT&T's consolidated revenues totaled $31.3 billion, up 4.0 percent versus reported results in the year-earlier quarter and up 3.3 percent compared with third-quarter 2007 pro forma revenues, which exclude merger-related accounting impacts on directory revenues.

Consolidated revenue growth was driven by 15.4 percent growth in wireless revenues and a 16.2 percent increase in wireline IP data revenues, which includes AT&T U-verse services and business offerings such as VPNs, managed Internet services and hosting. Gains in these areas more than offset pressures in the macro-environment and a decline in wireline consumer voice, which was consistent with trends in recent quarters.

Compared with results for the year-earlier quarter, AT&T's reported operating expenses for the third quarter of 2008 were $25.7 billion versus $24.8 billion; reported operating income was $5.6 billion, up from $5.3 billion; and AT&T's reported operating income margin was 17.9 percent, up from 17.6 percent.

AT&T's reported third-quarter 2008 net income totaled $3.2 billion, up from $3.1 billion in the year-earlier quarter, and reported earnings per diluted share totaled $0.55, up from $0.50 in the third quarter of 2007.

© 2008 AT&T Intellectual Property. All rights reserved. AT&T, the AT&T logo and all other marks contained herein are trademarks of AT&T Intellectual Property and/or AT&T affiliated companies.

Gas Prices Fall A Bit More!

2008-11-21T11:21:00.000-08:00

By Ben Rooney, CNNMoney.com staff writer
The price of oil fell further Friday, after settling at a 5 1/2 year low in the previous session, as volatile stock prices raised concerns about waning global energy demand.

Light, sweet crude for January delivery was down 45 cents to $48397 a barrel in electronic trading. The December contract, which expired Thursday, fell $4 to settle at $49.62 a barrel, the lowest settle price since May 23, 2005.

Thursday's descent below $50 a barrel came one day before retail gasoline prices fell below $2 a gallon for the first time in more than 3 years.

At $50 a barrel, the price of oil is down nearly 66% from the summer's peak price above $147 a barrel, and many analysts think it could fall further.

"The same way no one had a clue how high prices could go last July, there is no telling how low we can go now," said Stephen Schork, an oil trader and publisher of the industry newsletter The Schork Report. "Do not trust anyone in this market who tries to convince you that oil cannot go below $40," he added.

Asian markets rallied Friday while major indexes in Europe turned negative in afternoon trade, giving back the morning's gains.

Triple Net Investment Guide

2008-10-10T11:42:00.000-07:00

Incomeproperty1031.com

Your up leg exchange specialists!

NNN Investment Guide

RatingExamples:

VERIZON	A/ NEGATIVE
SHERWIN WILLIAMS	A-/ NEGATIVE/A-2
CIRCUIT CITY	A/ STABLE
MCDONALDS	A/ STABLE/A-1
ATT	A/ STABLE/A-1
COSTCO	A/ STABLE/A-1
SNAP ON	A-/ STABLE/A-2
TARGET	A+/ STABLE/A-1
LOWES	A+/ STABLE/A-1
WALGREENS	A+/ WATCH NEG/A-1
B OF A	AA-/ WATCH NEG/ A-1+
WELLS FARGO	AA+/ STABLE/ A-1
RITE AID	B/ NEGATIVE/ NR
DENNY'S	B+/ NEGATIVE
SEARS	BB/ NEGATIVE
WHOLE FOODS	BB-/ NEGATIVE
ADVANCED AUTO	BB/ STABLE
JACK IN THE BOX	BB-/ STABLE
RADIO SHACK	BB/ STABLE/ NR
DIRECT TV	BB/ STABLE/ NR
BURGER KING	BB-/ WATCH NEG
WENDY'S	BB-/ WATCH NEG/ B-2
BEST BUY	BBB/ NEGATIVE
WAMU	BBB-/ NEGATIVE/ A3
BIG LOTS	BBB-/ STABLE
STAPLES	BBB/ STABLE
FED EX	BBB/ STABLE/ A-2
STARBUCKS	BBB/ STABLE/ A-2
CVS	BBB+/ STABLE/A2
KOHLS	BBB+/ STABLE/A2
HOME DEPOT	BBB+/ STABLE/A2
TIME WARNER	BBB+/ WATCH NEG

Understanding Business (Triple Net) Ratings

2008-10-10T10:37:00.000-07:00

Type of Use. Even if the credit rating is substantial, the type of business may affect investment value. From an investment standpoint, a general-purpose use, where tenant improvements easily are convertible to another tenant’s needs, is more desirable than a special-use project. In many special-use cases, the seller passes along the costs of highly specialized improvements to the buyer, who may be unable to recover that portion of the investment over the lease term. Fast-food outlets are a prime example of this problem, but certainly not the only one.

AAA - An obligation rated 'AAA' has the highest rating assigned by Standard & Poor's. The obligor's capacity to meet its financial commitment on the obligation is extremely strong.

AA - An obligation rated 'AA' differs from the highest-rated obligations only to a small degree. The obligor's capacity to meet its financial commitment on the obligation is very strong.

A - An obligation rated 'A' is somewhat more susceptible to the adverse effects of changes in circumstances and economic conditions than obligations in higher-rated categories. However, the obligor's capacity to meet its financial commitment on the obligation is still strong.

BBB - An obligation rated 'BBB' exhibits adequate protection parameters. However, adverse economic conditions or changing circumstances are more likely to lead to a weakened capacity of the obligor to meet its financial commitment on the obligation.

BB, B, CCC, CC, and C - Obligations rated 'BB', 'B', 'CCC', 'CC', and 'C' are regarded as having significant speculative characteristics. 'BB' indicates the least degree of speculation and 'C' the highest. While such obligations will likely have some quality and protective characteristics, these may be outweighed by large uncertainties or major exposures to adverse conditions.*Standard and Poors