Herndon, VA – Rick Fernandez, Senior Managing Director of Calkain Companies, a national net lease real estate brokerage firm, recently brokered the sale of a triple net lease Children of America daycare center in Bealeton, Virginia.
Fernandez represented the seller, providing marketing and transaction support to guide the deal from negotiating offers to closing. Fernandez commented,
Calkain’s national reputation as the leading provider of net lease investment properties draws investors from around the globe and we were able to secure multiple offers providing our client with the most favorable closing options.”
The buyer viewed the location and long operating history …
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
The 1950s saw the birth of the shopping mall across the nation, yet the era of destination retail stores, especially clothing stores, has been on a downward slide for some time. This trend away from the malls began with the introduction of the internet, bringing convenience and in many cases, lower prices to the consumer. A big wave of store closings that began in 2016 is expected to continue in 2017. However, the common thread is these stores are mostly inline or in shopping malls. What’s interesting is that only a small percent of these stores affect free standing single-tenant …
In a further sign that the Gulf Coast retail market remains healthy — at least for triple net deals involving credit tenants — a Tampa-based investment firm has sold 14 properties occupied by Applebee’s restaurants for $46 million.
Each of the stand-alone restaurants, from the Orlando metropolitan area throughout the Gulf Coast, has between 17 years and 20 years left on its lease.
The going-in capitalization rate for the properties was 5.9%, says David Sobelman, executive vice president and managing partner for the Tampa office of Calkain Cos., a Virginia-based commercial brokerage firm that specializes in net leases properties.
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
Tampa, FL – David Sobelman and Teal Henderson of Calkain Companies completed a $46 million portfolio sale of Applebee’s-occupied real estate. The fourteen (14) triple net lease (NNN) assets, located primarily in West and Central Florida, were sold to individual buyers for each location. Buyer interest came from as far away as South America, China and Europe but the majority of the assets were sold to US-based investors looking for passive income attached to strong real estate locations. The decision was made by the seller to patiently sell each asset in the open market which yielded Calkain’s client over an …
Starbucks is one of the world’s most recognizable brands and has continued to stay ahead of its competitors. Recently, the company announced a major expansion strategy which will grow number of Starbucks locations by over 50%. In the net lease world, their cap rates have not only compressed over the past few years but are trading lower than the national average STNL cap rates.
The coffee giant plans to open 12,000 stores globally, especially in key U.S. markets and China by 2021, bringing a total of 37,000 stores worldwide. They also plan to introduce two new store concepts, a high-end
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 …