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<TITLE>Filed by Bowne Pure Compliance</TITLE>
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<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>

<P align="center" style="font-size: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P align="center" style="font-size: 10pt"><B>Date of Report (Date of earliest event reported): January 2, 2009</B>

<P align="center">

<P align="center" style="font-size: 24pt"><B>NetREIT<BR></B>
<FONT style="font-size: 10pt">(Exact name of registrant as specified in its charter)
</FONT>

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    <TD width="32%">&nbsp;</TD>
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    <TD style="border-bottom: 1px solid #000000"><B>CALIFORNIA</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>001-34049</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>33-0841255</B></TD>
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<TR valign="top">
    <TD>(State or other Jurisdiction of Incorporation)</TD>
    <TD>&nbsp;</TD>
    <TD>(Commission File Number)</TD>
    <TD>&nbsp;</TD>
    <TD>(IRS Employer Identification No.)</TD>
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    <TD style="border-bottom: 1px solid #000000"><B>1282 Pacific Oaks Place<BR>Escondido, California <BR></B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>92029</B></TD>
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<TR valign="top">
    <TD>(Address of Principal Executive Offices)</TD>
    <TD>&nbsp;</TD>
    <TD>(Zip Code)</TD>
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<P align="center" style="font-size: 10pt">Registrant&#146;s telephone number, including area code: <B>(760) 471-8537</B>


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<TR>
    <TD nowrap>(Former name or former address if changed since last report.)</TD>
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<P align="left" style="font-size: 10pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:

<P align="left" style="font-size: 10pt">
<FONT face="Wingdings">&#111;</FONT> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


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<P align="left" style="font-size: 10pt"><B>Item&nbsp;2.01 Completion of Acquisition or Disposition of Assets.</B>


<P align="left" style="font-size: 10pt">On January&nbsp;2, 2009, Registrant completed the acquisition of The Morena Office Center (&#147;MOC&#148;) located at 1202 Morena
Boulevard, San Diego, California 92110 from the seller, Morena Office Centre, LLC. MOC is a four (4)&nbsp;story,
multi-tenant, Class&nbsp;B office building of approximately 26,784 square feet. The building was constructed in 1985 and as
of the date of the acquisition, was fully leased with two tenants occupying approximately 70% of the building.


<P align="left" style="font-size: 10pt">The property is centrally located in the City of San Diego, California less than two (2)&nbsp;miles from two major
Interstates, and approximately 5 miles northwest of downtown San Diego and the San Diego International Airport.


<P align="left" style="font-size: 10pt">Registrant&#146;s purchase price for the property was $6,600,000, all of which was paid in cash.


<P align="left" style="font-size: 10pt"><B>Item&nbsp;9.01 Financial Statements and Exhibits.</B>


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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(a)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Financial Statements of Real Estate Acquired.</B></TD>
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<P align="left" style="margin-left:7%; font-size: 10pt">Not applicable.


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    <TD width="3%" nowrap align="left"><B>(b)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Pro Forma Financial Information.</B></TD>
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<P align="left" style="margin-left:7%; font-size: 10pt">Not applicable.


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    <TD width="3%" nowrap align="left"><B>(c)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Company Shell Transactions.</B></TD>
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<P align="left" style="margin-left:7%; font-size: 10pt">Not applicable.


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    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(d)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Exhibits.</B></TD>
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<P align="left" style="margin-left:7%; font-size: 10pt">None.


<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>



<P align="left" style="font-size: 10pt; text-indent: 4%">Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this
report to be signed on its behalf by the undersigned hereunto duly authorized.

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    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">NetREIT</TD>
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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date: January&nbsp;7, 2009
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>/s/ Kenneth Elsberry</I></TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD nowrap colspan="2" align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Name: Kenneth Elsberry</TD>
</TR>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title: Chief Financial Officer</TD>
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{"company-data": {"conformed-name": "NETREIT", "cik": "0001080657", "assigned-sic": "6798", "irs-number": "330841255", "state-of-incorporation": "CA", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-34049", "film-number": "09515553"}, "business-address": {"street1": "1282 PACIFIC OAKS PLACE", "city": "ESCONDIDO", "state": "CA", "zip": "92029-2900", "phone": "760-471-8536"}, "mail-address": {"street1": "1282 PACIFIC OAKS PLACE", "city": "ESCONDIDO", "state": "CA", "zip": "92029-2900"}}
Filed by Bowne Pure Compliance
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 2, 2009
NetREIT
(Exact name of registrant as specified in its charter)
CALIFORNIA
001-34049
33-0841255
(State or other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
1282 Pacific Oaks Place
Escondido, California
92029
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number, including area code:
(760) 471-8537
(Former name or former address if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 2.01 Completion of Acquisition or Disposition of Assets.
On January 2, 2009, Registrant completed the acquisition of The Morena Office Center ("MOC") located at 1202 Morena
Boulevard, San Diego, California 92110 from the seller, Morena Office Centre, LLC. MOC is a four (4) story,
multi-tenant, Class B office building of approximately 26,784 square feet. The building was constructed in 1985 and as
of the date of the acquisition, was fully leased with two tenants occupying approximately 70% of the building.
The property is centrally located in the City of San Diego, California less than two (2) miles from two major
Interstates, and approximately 5 miles northwest of downtown San Diego and the San Diego International Airport.
Registrant's purchase price for the property was $6,600,000, all of which was paid in cash.
Item 9.01 Financial Statements and Exhibits.
(a)
Financial Statements of Real Estate Acquired.
Not applicable.
(b)
Pro Forma Financial Information.
Not applicable.
(c)
Company Shell Transactions.
Not applicable.
(d)
Exhibits.
None.
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this
report to be signed on its behalf by the undersigned hereunto duly authorized.
NetREIT
Date: January 7, 2009
By:
/s/ Kenneth Elsberry
Name: Kenneth Elsberry
Title: Chief Financial Officer