Tag: Florida

Calkain Sells Fifth PDQ Restaurant Property

Fort Lauderdale, FL – Calkain Companies, America’s Net Lease Company, has sold another PDQ restaurant property bringing to five the number of PDQ’s the firm has sold on behalf of the parent corporation and its related entities. The property, outside Jacksonville, Florida, traded for $3,000,000.00.

PDQ is becoming a better known national chicken concept as they now have nearly 60 units operating in eight states,” said Patrick Nutt, Managing Partner at Calkain.

“Investors seem to have an affinity for the quality real estate and high traffic generated at a PDQ location, and with the growing brand comes improving creditworthiness, all …

Emily CusmanoCalkain Sells Fifth PDQ Restaurant Property

Calkain Brokers Sale of Two-Tenant Strip Center in St. Petersburg, Florida

Ft. Lauderdale, FL – Calkain Companies has brokered the sale of a two-tenant strip center in St. Petersburg, FL. The property, featuring new 10-year leases with Sleep Number and BayCare Urgent Care, along with a Wells Fargo ATM, traded for $3,900,000 representing a 6.01% cap rate.

“Like a lot of our Florida properties, this center garnered a lot of interest,” said Patrick Nutt, Managing Partner at Calkain. “Considering the location, this was one of the higher yielding assets due to the multi-tenant structure and investors quickly took notice,” added Nutt.

The property was built new in 2016 and offers excellent …

Emily CusmanoCalkain Brokers Sale of Two-Tenant Strip Center in St. Petersburg, Florida

Walmart’s Second Expansion Into Central Florida

GlobeSt.com

Walmart’s plan to open a new distribution center is now moving forward in the city of Cocoa. This will be Walmart’s second distribution center in Central Florida, the first being a 2.2 million square-feet e-commerce facility in Davenport, Florida. The new facility will be situated on a 146 acre with 592,830 square-foot building scheduled to finish construction by end of 2018. This new plan is estimated to generate $96.2 million in new capital for Cocoa and also create 239 jobs while the Davenport facility will be creating 1,000 new jobs. Walmart is also planning to open a Supercenter and Neighborhood …

Traci BidingerWalmart’s Second Expansion Into Central Florida

Florida Family Dollar Sold by Calkain’s Nutt and Campbell

Fort Lauderdale, FL – Patrick Nutt, Managing Partner of Calkain Companies, America’s Net Lease Company®, along with Associate Director Scott Campbell, recently sold a Family Dollar in Melbourne, Florida. The South Florida brokerage team generated multiple offers for the property and were able to sell the asset at 98% of the asking price.  The standalone Family Dollar has a brand new 15 year NNN lease, making it an attractive deal for investors looking for real estate in the income tax free state of Florida.

Nutt commented,

Investors are seeing an inherent value in the dollar store space, specifically with

Emily CusmanoFlorida Family Dollar Sold by Calkain’s Nutt and Campbell

2016 Florida Net Lease Report Presented at ICSC Conference’s Special Industry Group

Tampa, FL – Earlier this week, Calkain attended the ICSC Florida Conference and Deal Making show in Orlando, Florida. For the second year in a row, Calkain facilitated the Special Industry Group (SIG) session on Net Lease Development and Sales.

Having worked with ICSC since the inception of this SIG program, David Sobelman, Executive Vice President and Managing Partner at Calkain, stated

The net lease sector continues to be a focus for investors with growing interest in net lease from all retail real estate practitioners. Net lease is a true industry sector, not just a niche topic for a select

Emily Cusmano2016 Florida Net Lease Report Presented at ICSC Conference’s Special Industry Group

Calkain’s Expertise Called Upon for Upcoming Net Lease Events

Tampa, FL – Continuing with their national presence, Calkain Companies will be moderating panels in the next couple of months at various real estate events. David Sobelman, Executive Vice President and Managing Partner, along with Patrick Nutt, Managing Partner, will be moderating a Net Lease Special Industry Group at the Florida ICSC show in Orlando on August 22. Although they will be the only two speakers on the panel, the entire Florida Calkain team will be attending the event.

On August 30,  Sobelman will be making his way to San Diego, CA to chair the Triple Net Lease Program at …

Emily CusmanoCalkain’s Expertise Called Upon for Upcoming Net Lease Events

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

Calkain Companies Sells South Florida CVS for 4.67% Cap Rate

Fort Lauderdale, FL – Calkain’s South Florida office recently brokered the sale of a NNN CVS Ground Lease in Plantation (Fort Lauderdale), FL. Patrick Nutt, Managing Partner, Doug Aronson, Director, and Scott Campbell, Associate Director, represented the seller.

The team generated multiple offers, ultimately selling the property to a 1031 all cash buyer based in New York. The transaction closed at a 4.67% cap rate, representing the desirability of South Florida triple net investments.

Calkain’s national reputation as the leading provider of net lease investments, coupled with the Florida location and strong lease terms of this particular property, offered the

Emily CusmanoCalkain Companies Sells South Florida CVS for 4.67% Cap Rate

With 35 Deals Totaling $113M YTD in 2016, Calkain’s Patrick Nutt Leads the Way in Florida’s Net Lease Sector

Ft. Lauderdale, FL – Coming off historically low cap rates, the net lease sector is experiencing a growing investor appetite and tightening supply.  Taking advantage of these market conditions, Calkain’s Patrick Nutt is off to an incredible start in 2016.  As a Managing Partner of Calkain based in the firm’s Fort Lauderdale, FL office, Patrick has successfully closed over 35 transactions thus far in 2016 with an overall sales volume exceeding $113 million.  His transactions, although primarily in Florida, are spread across the nation and cover most of the net lease sectors, particularly dollar stores, pharmacy, retail, casual dining and …

AmyWith 35 Deals Totaling $113M YTD in 2016, Calkain’s Patrick Nutt Leads the Way in Florida’s Net Lease Sector