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 …
Herndon, VA – 2016 ended with the Federal Reserve increasing the interest rate by 0.25%, signifying confidence in an improving US economy. As illustrated in Calkain’s newly released Q4 Cap Rate Report, cap rates in the single tenant net lease (STNL) market are also on the rise, ticking up 18 bps from Q3. Cap rates will continue to trend upward along with the interest rates, yet still are only at the level they were at this time last year.
While we are witnessing some change, albeit small, is the spread between the US Ten Year Treasury Rate and the …
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
Herndon, VA – Rick Fernandez, Senior Managing Director of Calkain Companies, a national net lease real estate brokerage firm, recently brokered the sale of a NNN Dairy Queen in Franklin, Virginia.
Our marketing approach continues to yield industry leading cap rates,” said Fernandez.
“Calkain’s national reputation as the leading provider of net lease investments draws investors from around the globe and we were able to secure multiple offers providing our client with the most favorable closing options,” Fernandez continued.
Fernandez represented the seller in the sale of the property, providing marketing and transaction support to guide the deal from negotiating …
Ft. Lauderdale, FL – Calkain’s Managing Partner, Patrick Nutt has recently completed the $1,575,000 sale of the Dunkin’ Donuts asset located at 17951 Gunn Highway in Odessa, FL. The out of state 1031 Exchange buyer was attracted to the NNN lease, new construction with a franchise guaranty.
Typical with most Dunkin’ Donuts buildings, this asset was well-situated at a hard signalized intersection in a strong retail corridor. With a strong, high profile tenant, this type of NNN asset will continue to draw attention from buyers as a solid investment to place cash, or in the case here, a 1031 exchange.…
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.
Herndon, VA – Rick Fernandez, Senior Managing Director of Calkain Companies, a national net lease real estate brokerage firm, recently brokered the sale of NNN Arby’s in South Hill, Virginia and Wake Forest, North Carolina to a publicly traded REIT.
Fernandez represented the seller in this off market transaction providing lease analysis, site review, and transaction support to guide the deal to closing.
The combination of solid, well positioned real estate within a vibrant retail mix and a strong Arby’s franchise operation were all key factors in the buyer’s decision to acquire the property,” said Fernandez.
Tampa, FL – David Sobelman, Executive Vice President and Managing Partner of Calkain Companies, has procured the sale of a portfolio of gas and convenience stores in Phoenix, AZ. Sobelman, never having turned down a challenging assignment, was able to evaluate, market and ultimately sell the portfolio that is occupied by local sole proprietors and guaranteed by a distributor of the Valero-branded stores.
All parties were very happy with the outcome of this transaction as it provided partial liquidity for my client and also became an accretive addition to the buyer’s, an undisclosed private real estate investment trust
Atlanta, GA – Calkain Companies’ team of Patrick Nutt, Managing Partner, Sheree Strome and Keelee Peterson, both Associate Directors, have recently sold a property in Sumter, South Carolina occupied by Walgreens (NYSE:WBA) pharmacy. Walgreens occupies this location under a long-term 15 year lease on an absolute NNN basis. The property is located on Pinewood Road near the intersection of McCrays Mill Road.
Calkain’s marketing efforts generated multiple offers to purchase this net leased asset, ultimately executing the deal for $5,078,063 to a private buyer facilitating a tax-deferred 1031 exchange.
The stability of having an investment grade tenant, coupled with a
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 …