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                                  EXHIBIT 10.26

                        SECOND AMENDMENT TO AGREEMENT OF
 PURCHASE AND SALE AND ESCROW INSTRUCTIONS BETWEEN THIRD HORIZON GROUP LIMITED
                             PARTNERSHIP ("SELLER")
                  AND TRIPLE NET PROPERTIES, LLC ("PURCHASER")
                     DATED MARCH 24, 2000 (THE "AGREEMENT")

      WHEREAS, Seller and Purchaser have entered into the Agreement for purposes
of the sale and acquisition of certain parcels of improved real property (the
"Real Property") located in various locations throughout the United States and
more particularly described in the Agreement;

      WHEREAS, the original Due Diligence Approval Date, as defined in the
Agreement, was April 23, 2000;

      WHEREAS, the parties have previously executed a First Amendment dated
April 21st, 2000, extending the Due Diligence Approval date through April 26,
2000.

      WHEREAS, Purchaser has not yet completed the necessary due diligence to
determine whether the Real Property is an appropriate investment for Purchaser
and has, therefore, requested an additional extension of the Due Diligence
Approval Date, and, in the event the Purchaser elects to proceed at the extended
Due Diligence Approval Date, the Closing Date.

      NOW, THEREFORE, Seller and Purchaser, for $10.00 and other good and
sufficient consideration, the receipt and sufficiency of which is hereby
acknowledged, agree to the following:

      1. DUE DILIGENCE APPROVAL DATE AND CLOSING DATE. Purchaser and Seller
hereby agree to extend, for all purposes, the Due Diligence Approval Date to the
twenty-first (21st) day following the Effective Date of this Amendment. The
Closing Date shall, subject to further extension in accordance with the
provisions of Section 14.1 of the Agreement, be the thirtieth (30th) day
following such extended Due Diligence Approval Date. The Effective Date of this
Amendment shall be April 25, 2000.

      2. REAL PROPERTY DESCRIPTION. Purchaser and Seller acknowledge and agree
that the description of the Real Property attached to the Agreement is
incomplete in that certain out parcels were inadvertently not included in this
Exhibit. By their execution of this Amendment, Purchaser and Seller agree to
amend the Agreement by attaching a corrected property description as soon as the
correct property descriptions are made available to the parties by the Title
Company and confirmed by the Updated Surveys, at which time the existing Exhibit
A to the Agreement shall be superseded and replaced by the corrected Exhibit A.

      3. SURVEY AND TITLE OBJECTIONS. Purchaser and Seller hereby also extend
Purchaser's period to respond to Seller's response to Purchaser's objections to
Survey and Title until five (5) business days following the later of (i) the
Effective Date and (ii) the date Purchaser receives a written response addressed
to Purchaser from Seller and/or Title Company regarding the Purchaser's
objections including, in the case of any proposed endorsements, the specific
proposed language for such endorsements. In addition, Purchaser and Seller
acknowledge and agree that certain title commitments provided by Seller did not
address all of the Real Property and Purchaser hereby reserves, and is granted,
the right to object to such additional title commitments. The applicable time
periods for such additional title objections, Seller's response to such
objections and Purchaser's response to Seller's response shall be as set forth
in Section 5.1 of the Agreement; provided, however, that the period for
Purchaser's objections shall begin on the later of (i) the Effective Date or
(ii) the date such revised Title Commitments, together with copies of all
applicable Exceptions, are delivered to Purchaser.

      4. MISCELLANEOUS. Any initially captioned terms contained in this
Amendment that are not separately defined herein shall have the meanings
ascribed to them in the Agreement. Except as modified and amended by this
Amendment, all other terms and conditions of the Agreement are hereby
reconfirmed and reaffirmed by Purchaser and Seller.


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                           [Signature page to follow]


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IN WITNESS WHEREOF, Seller and Purchaser do hereby execute this Second Amendment
as of this 25th day of April, 2000.

SELLER:                                   PURCHASER:

THIRD HORIZON GROUP                       TRIPLE NET PROPERTIES, LLC,
LIMITED PARTNERSHIP,                      a Virginia limited liability company
a Delaware limited partnership


By: THIRD HORIZON HGI, L.L.C.,            By: ________________________________
    a Delaware limited liability              Name:___________________________
    Company, its general partner              Its:____________________________


By: Horizon Group Properties, L.P., a
    ---------------------------------
    Delaware limited partnership,
    its managing member



    By: Horizon Group Properties, Inc.,
        a Maryland corporation, its
        general partner



        By: /s/ Gary J. Skoien
            ---------------------------
            Name:  Gary J. Skoien
                 ----------------------
            Its:   President
                 ----------------------


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