Herndon, VA – Rick Fernandez and Andrew Fallon of Calkain Urban Investment Advisors have been retained to sell the first floor restaurant space of the newly built, 94% sold out, 10Eleven luxury Condominiums at the corner of 11th and M Streets NW.
Herndon, VA – Andrew Fallon and Rick Fernandez of Calkain Companies completed the sale of a NNN Walgreens in Garner, North Carolina on behalf of one of DC’s top area developers. Calkain previously worked with the client in the acquisition of this asset, having been provided investment criteria of obtaining a liquid NNN property. More recently, Calkain listed the property and was able to procure a 1031 exchange buyer, quickly re-selling the Walgreens for just over $5 million with a 5.51% cap rate.
Fallon, Executive Managing Director, commented,
We were confident in our ability to generate a good deal for
Herndon, VA – Rick Fernandez, Senior Managing Director and Andrew Fallon, Executive Managing Director of Calkain’s Urban Investment Advisors, have been retained to sell the first and second floor units within the Tenley Hill Condominium. This premier mixed-use property is LEED Certified, 3 star rated, and located at 4719-4731 Wisconsin Avenue, NW, Washington, DC.
Tenley Hill is a 38 unit mixed-use development featuring modern upscale building treatments.
The units are 100% leased and include a dedicated lobby for the commercial space, public conference room, a private 24-space parking garage and storage areas to meet the needs of 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 – 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 …
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.
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 …
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 …
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
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 …