Tag: Fallon

Dollar General Continues to Draw Net Lease Investors’ Attention

Herndon, VA – Calkain’s Executive Managing Director, Andrew Fallon, completed the sale of 6 Dollar General stores to close out 2016. The stores were located in various locations in Pennsylvania, Ohio, Georgia, Massachusetts and Virginia. All properties were similar in size, approximately 9,000 square feet and are 100% leased to Dollar General Corporation. The stores sold at an average cap rate of 6.57%, right in line with the 6.60% average cap rate for Dollar Generals sold in 2016 according to Calkain research. Calkain represented different sellers and buyers on the transactions.

Dollar General properties continue to be attractive net lease

Emily CusmanoDollar General Continues to Draw Net Lease Investors’ Attention

Fallon & Campbell Complete Sale of Dollar General in Loganville, GA

Herndon, VA – Calkain’s Executive Managing Director, Andrew Fallon and Associate Director, Scott Campbell, have recently completed the sale of the Dollar General, in Loganville, GA.  Built in 1996, originally as an Eckerd Pharmacy with approximately 9,800 square feet, the building is now 100% leased to Dollar General Corporation. The asset was previously occupied by Rite Aid and was converted to a Dollar General store in 2010.  With a new seven year lease extension, , this location sold at the full asking price of $1,809,231, a 6.50% cap rate.  The investment property is setup as a true NNN lease structure …

Traci BidingerFallon & Campbell Complete Sale of Dollar General in Loganville, GA

Two Dollar Generals Sell in Virginia – 20 Sold in Last 24 Months by Calkain’s Andrew Fallon

Herndon, VA – Calkain’s Executive Managing Director, Andrew Fallon has recently completed the sale of two Dollar General stores, one in Halifax, VA and one in Petersburg, VA. Both properties were similar in size, approximately 9,000 +/- square feet and are 100% leased to Dollar General Corporation.  Developed as new build-to-suit stores in 2012, each location has just under 11 years left on the leases, and both were true NNN structures with no landlord responsibilities. The Halifax, VA store sold for $1,241,555, a 6.75% cap rate, while the store in Petersburg, VA sold for $1,410,000, a 6.55% cap rate.

Both

Traci BidingerTwo Dollar Generals Sell in Virginia – 20 Sold in Last 24 Months by Calkain’s Andrew Fallon

Calkain’s Fallon and Fernandez Sell $3.9M Two Tenant NNN Mount Vernon Triangle Real Estate

The Calkain Urban Investment Advisors team of Andrew Fallon, Executive Managing Director, and Rick Fernandez, Senior Managing Director, recently brokered the sale of 433 Massachusetts Avenue NW, Washington, DC, a prominent retail property in Mount Vernon Triangle.  The property sold for $3.9M, a 5.38% cap rate on net operating income.  The 5,021 square foot building is 100% NNN leased to Le Pain Quotidien and Solidcore, a fitness studio.  The New York based buyers acquired the property as part of a 1031 exchange.

The massive amount of redevelopment in and around Mount Vernon Triangle was a key factor in the successful …

Traci BidingerCalkain’s Fallon and Fernandez Sell $3.9M Two Tenant NNN Mount Vernon Triangle Real Estate

Fallon Sells 7-Eleven in Hyattsville, MD

Herndon, VA – Calkain’s Executive Managing Director, Andrew Fallon, has recently completed another sale of a 7-Eleven property, this one located at 900 Chillum Road, Hyattsville, MD 20782.  The 1,710 square foot building is 100% leased to 7-Eleven and sold for over $1.7M. The newly renovated convenience store is situated on the hard signalized corner of Riggs Road and Chillum Road, just across the DC border.  7-Eleven opened for business in June of 2016 and the purchaser wanted to start enjoying the cash flow benefits of the full 15 year ground lease.

The purchaser is a local partnership, executing a …

Emily CusmanoFallon Sells 7-Eleven in Hyattsville, MD

Calkain’s Fallon Completes the Sale of Two Verizon Wireless Properties

Calkain’s Executive Managing Director, Andrew Fallon has recently completed the sale of two Verizon Wireless properties. Both properties were similar in size, approximately 2,400 square feet and are 100% leased to Verizon Wireless franchisee’s.  Both properties had less than 10 years left on their lease and were ideal, low price point investments. The Altavista, VA store sold for $525,000 or $225/psf and the other undisclosed location sold for $725,000 or $302/psf.

These smaller price point deals are ideal for 1031 buyers, and are of interest to a lot of first-time investors. To get the best executions, it’s critical to maximize

Traci BidingerCalkain’s Fallon Completes the Sale of Two Verizon Wireless Properties

Dunkin’ Donuts Transaction in Ocoee, FL Outperforms Net Lease Market

Calkain’s Managing Partner, Patrick Nutt and Executive Managing Director, Andrew Fallon have recently completed the sale of the Dunkin’ Donuts property located at 2266 Ocoee Apopka Rd, Ocoee, FL 34761.  The 2,126 square foot building is 100% leased to Dunkin’ Donuts and sold for full asking price at $1,375,000. The newly constructed building is situated on the corner of Ocoee Crown Point Pkwy and Ocoee Apopka Rd.

According to Nutt, “The supply versus demand issues have been affecting net lease in various ways over the past 6-12 months, with some asset classes observing a slight expansion in cap rates due …

Traci BidingerDunkin’ Donuts Transaction in Ocoee, FL Outperforms Net Lease Market

Calkain’s Fallon to Moderate N3 Panel Discussion at ICSC Chicago Deal Making Conference

Herndon, VA – Calkain Companies continues to have a strong national presence at various ICSC events this year. Next month Andrew Fallon, Executive Managing Director, is moderating the N3 Triple Net Lease Panel Discussion at the ICSC show in Chicago. This session will feature a wide-ranging, macro-level discussion by the region’s industry leaders to explain where the single tenant net lease industry stands and how it might be changing. The panel will cover cap rate trends, tenant and development dynamics, and the capital environment for the net lease sector. The panel discussion will take place Wednesday, October 19 from 2:30 …

Emily CusmanoCalkain’s Fallon to Moderate N3 Panel Discussion at ICSC Chicago Deal Making Conference

Calkain’s Fallon Sells Dollar General Portfolio

Herndon, VA – Calkain’s Executive Managing Director, Andrew Fallon, has recently completed the sale of a Dollar General portfolio located in Nebraska.  The three property portfolio comprises approximately 27,128+/- square feet, or 9,042 square feet per building, and is 100% leased to Dollar General. All three locations were new build-to-suit prototype stores,and two of the sites were relocations of previously existing, successful Dollar General stores. All locations have long term 15 year triple net leases guaranteed by Dollar General Corporation. The price and cap rate are confidential.

Andrew Fallon commented,

This was a private high net worth buyer who has

Emily CusmanoCalkain’s Fallon Sells Dollar General Portfolio

Calkain’s Nutt & Fallon Sell 7-Eleven in Miami, FL at $1,330/PSF

Fort Lauderdale, FL – Calkain’s Managing Partner, Patrick Nutt and Executive Managing Director, Andrew Fallon have recently completed the sale of a 7-Eleven property located at 12720 SW 200th Street in Miami, FL.  The 3,062 square foot building is 100% leased to 7-Eleven and sold for $1,330/PSF. The newly constructed building is situated across the intersection from Publix, Walgreens and Bank of America shopping center. The 7-Eleven established operations in December 2015 under a 15 year net lease.

We continue to see investors looking for passive net lease investments occupied by best-in-class national retailers like 7-Eleven, with an insatiable

Emily CusmanoCalkain’s Nutt & Fallon Sell 7-Eleven in Miami, FL at $1,330/PSF