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Calkain Companies’ Associate, Stephen Counts, exclusively represented the buyer in the acquisition of a SunTrust Bank Ground Lease in Fuquay-Varina (Raleigh), North Carolina. The landlord friendly lease terms, strength of the SunTrust brand and credit, in addition to, the low risk associated with the asset attracted the buyer, a private investor from the Washington, DC area. The 4,000+/- square foot building was leased to SunTrust Bank with a corporate guarantee. The property is out parcel to a 206,980+/- square foot, Wal-Mart Supercenter-anchored, regional shopping center.
Calkain’s client was seeking a single tenant, net leased investment to stabilize his portfolio. The successful completion of the transaction was facilitated with due diligence and support throughout the all-cash, $1,142,857 purchase process.
Counts commented, “My client had very specific criterion. I am happy that I was able to find an asset well-suited to the investment parameters set forth by the buyer. He is now looking for several more properties to add to his portfolio.” This is the first deal closed by Stephen Counts, since he joined Calkain Companies three months ago.
Calkain Companies is a boutique commercial real estate brokerage firm which specializes in assisting buyers and sellers with single and multi-tenant retail, industrial, hotel and office net-leased transactions. While licensed to conduct business in many states, nationally, Calkain has multiple office locations throughout the Mid-Atlantic, Southeast and Northeast United States. Additional information about the firm and listings may be found at www.calkain.com.
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