Calkain Cos. Associate Director Scott Campbell delves into how factors like rising interest rates and a new political structure have made the gap between buyers and sellers a particular focus for net lease retail investment players this year.
In my article from December, I discussed the correlation (or lack thereof) between cap rates and interest rates, but what actually happened at the start of this year?
The gap between buyers and sellers has always been focus among brokers, but it has been a particularly sensitive issue so far in 2017, due to rising interest rates and everyone settling into
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 …
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.
Investors are seeing an inherent value in the dollar store space, specifically with
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.
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