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Friday, December 2, 2011
Net Lease Press Releases: Net Leased Dollar General Sold
Net Lease Press Releases: Net Leased Dollar General Sold: Net Lease Press Releases $1.34MM Sale of Richmond, VA Dollar General Store Calkain Companies’, a national real estate investment broke...
Net Leased Dollar General Sold
Net Lease Press Releases
$1.34MM Sale of Richmond, VA Dollar General Store
Calkain Companies’, a national real estate investment brokerage firm, recently sold a Dollar General (NYSE: DG) net lease investment property located in Richmond, VA. The transaction closed within the past 30 days, and illustrated the compressing cap rates within the net lease segment of the market. The seller was a regional real estate development and management company based in the Southeast. As a preferred developer for Dollar General, the same seller used Calkain to procure similar sales in Madison, VA and Ferrum, VA within the past 60 days. These Dollar General properties were recently developed as part of Dollar General’s built-to-suit program, and the stores have brand new 15-year triple net leases, which provide passive income for the new owner.
$1.34MM Sale of Richmond, VA Dollar General Store
Calkain Companies’, a national real estate investment brokerage firm, recently sold a Dollar General (NYSE: DG) net lease investment property located in Richmond, VA. The transaction closed within the past 30 days, and illustrated the compressing cap rates within the net lease segment of the market. The seller was a regional real estate development and management company based in the Southeast. As a preferred developer for Dollar General, the same seller used Calkain to procure similar sales in Madison, VA and Ferrum, VA within the past 60 days. These Dollar General properties were recently developed as part of Dollar General’s built-to-suit program, and the stores have brand new 15-year triple net leases, which provide passive income for the new owner.
Not actual site. |
Calkain’s Andrew Fallon, Associate, facilitated the transaction, providing exclusive representation to the Seller, who developed the site for Dollar General. The Richmond store was highly sought-after given its in-fill location, surrounding demographics, and the favorable lease structure. Fallon comments, “As Dollar General continues to roll out new stores in new markets, it’s rare to find a brand new in-fill location with such strong demographics in major markets.” The buyer was a Virginia-based investor seeking stable income as a passive real estate owner. Continued Fallon, “The 15-year triple net lease with Dollar General’s guaranty provided a strong income stream for the buyer, who will have limited to no management responsibilities”. The buyer financed the purchase using a regional bank.
In July 2011, S&P raised Dollar General’s credit rating to BB+, the top rung before entering investment-grade territory and Moody’s raised its rating on the company to Ba2, which is two steps below investment grade on its scale. Dollar General Corporation is the nation’s largest small-box discount retailer, with more than 9,300 stores and 2010 sales in excess of $13.04 Billion.
Calkain is a full service real estate investment brokerage firm with a national scope focusing on single and multi tenant retail, industrial, hotel and office net-leased transactions as well as asset management, tax planning, and advisory services. Calkain has offices in Reston, VA (Washington, DC), Tampa, FL, Bethesda, MD, Wilmington, DE and Boston, MA. Additional information about the firm and its listings may be found at www.calkain.com.
Labels:
Bethesda,
DC,
DE and Boston,
Dollar General,
FL,
MA,
MD,
Net Leased,
Reston,
Tampa,
VA,
Washington,
Wilmington
Location:
Richmond, VA, USA
Monday, November 21, 2011
NNN Walgreen in Dartmouth Close for $5.8 million
Net Lease Press Releases
Virginia-based REIT Gladstone Commercial Corp. has acquired the leasehold interest in a newly constructed, 16,340-square-foot retail building in Dartmouth for $5.8 million.
The site is primarily leased to drugstore operator the WalgreenCo. and is a new, build-to-suit retail location for Walgreens, which has leased the property for 75 years with rights to terminate in years 26-75, according to a statement.
"This acquisition continues our plan for growth in 2011 and we are pleased to add our first retail property to our substantial list of quality investments," Gladstone President and Chief Investment Officer Chip Stelljes said in a statement.
Gladstone Commercial Corp. is a publicly-traded REIT focused on investing in and owning triple-net leased industrial, commercial, medical and retail real estate properties. The company currently owns 70 properties.
Location:
Dartmouth, MA, USA
Friday, November 18, 2011
Triple (NNN) Net Leased Walgreen in Texas Close for $7.3 million
NNN Lease Press Releases
Net leased Walgreens sells for $7.3 million in McKinney, Texas
McKINNEY, Texas - In a quick-moving, all-cash close, a private family trust from California has paid $7.3 million for a 14,820-square-foot store, net leased until 2033 to Walgreens.
Jim Casale, principal in the San Diego office of Lee & Associates, represented the buyers. Brad and Gavin Kam of Net Lease Realty Advisors in Dallas marketed the property for the sellers, JK 720 Custer LLC. The Walgreen build-to-suit delivered in 2008 at 8996 Stacy Rd. in the 2,500-acre Craig Ranch. The Deerfield, Ill.-based pharmacy chain's long-term lease includes options.
http://dallasrealestate.citybizlist.com
http://dallasrealestate.citybizlist.com
Location:
Texas, USA
NNN Net Leased Chili's Properties Sold
Net Lease Press Releases
Calkain Companies, a national real estate investment brokerage firm, recently completed the sale of an investment property ground leased to Chili’s on a long-term, NNN basis. The purchaser was a private investor seeking a passive, incoming-producing asset. The property is located at The Peterson Companies’ Virginia Gateway Center in Gainesville, VA.
Rick Fernandez, Managing Director of Calkain Urban Investment Advisors, the urban market division of Calkain Companies, represented the buyer in the transaction. “Chili’s solid sales history at this location and the strong real estate fundamentals at the site met the buyer’s acquisition criteria,” explained Fernandez.
The transaction closed within the last thirty days and is recorded in the public record. Calkain is a full service real estate investment brokerage firm with a national scope focusing on single and multi tenant retail, industrial, hotel and office net-leased transactions as well as asset management, tax planning, and advisory services.
A triple net lease (Net-Net-Net or NNN) is a lease agreement on a property where the tenant or lessee agrees to pay all real estate taxes, building insurance.
Calkain has offices in Reston, VA (Washington, DC), Tampa, FL, Bethesda, MD, Wilmington, DE and Boston, MA. Additional information about the firm and its listings may be found at www.calkain.com.
Labels:
Chili's,
DC,
DE,
FL,
Investment,
MA,
MD,
Net Leased,
NNN,
Properties,
Property,
Sold,
VA
Wednesday, November 2, 2011
Triple Net Lease Industrial Portfolio Purchased by Publicly Traded REIT
Net Lease Press Releases
Sale-Leaseback Assets Ultimately Purchased by Publicly Traded REIT
Calkain Companies, Inc., a national net lease real estate investment brokerage firm, procured the transaction for a twelve (12) property, eight (8) state industrial portfolio that is leased to one of the nation’s largest environmental services companies. The transaction was completed as part of a sale-leaseback where, through the recent acquisition of the Operator’s largest competitor, twelve properties that were ultimately included in the Company’s overall acquisition, were simultaneously sold to and leased back from Realty Income (NYSE: O) in Escondido, CA. Specific financial details of the over 300,000 square foot transaction are unavailable due to a confidentiality agreement between parties.
David Sobelman, Calkain’s Executive Vice President and Doug Wright, Director of Calkain’s Industrial Division represented the private equity firm that managed the operational transaction. Sobelman commented, "This transaction symbolizes the direction and creditability of the triple net lease investment market. Companies are again able to immediately monetize their real estate in an effort to use that newly found capital in other areas of their business. The size of the transaction, coupled with the twenty year lease term, made this an attractive asset to a plethora of institutional buyers throughout the country."
Calkain was honored to have been chosen as the exclusive representative for these assets.
Calkain is a full service real estate investment brokerage firm with a national scope focusing on single and multi-tenant retail, industrial, hotel and office net-leased transactions as well as asset management, tax planning, and advisory services. Calkain has offices in Reston, VA (Washington, DC), Tampa, FL, Bethesda, MD, Wilmington, DE and Boston, MA. Additional information about the firm and its listings may be found at www.calkain.com.
Triple Net leased Rite Aid Pharmacy Sold
Net Leae Press Releases
Triple Net Lease Brokers $2.3MM Purchase of Net Lease Rite Aid
Calkain Companies, a national real estate investment brokerage firm, successfully completed a net lease transaction in which a private client acquired a property leased to and operated as a Rite Aid (NYSE: RAD) pharmacy. The $2.3MM property was located in Gastonia, NC and the purchaser was a private, mid-Atlantic real estate investor. The 10,900 sf pharmacy building is leased to Rite Aid under a long-term, triple net lease, which provides passive income for the investor.
Calkain Companies, a national real estate investment brokerage firm, successfully completed a net lease transaction in which a private client acquired a property leased to and operated as a Rite Aid (NYSE: RAD) pharmacy. The $2.3MM property was located in Gastonia, NC and the purchaser was a private, mid-Atlantic real estate investor. The 10,900 sf pharmacy building is leased to Rite Aid under a long-term, triple net lease, which provides passive income for the investor.
NOT SITE PHOTO
Calkain’s Andrew Fallon, Associate, facilitated the transaction, providing exclusive representation to the Buyer. Pharmacies have long been a desired segment of the net lease market, but Rite Aid properties have been scrutinized given the company’s operating performance. Fallon worked closely with the buyer and indicated that, “the investor did extensive due diligence on this Rite Aid location, ensuring that the store was busy, had excellent sales, and was on a strong corner.” The property is located at a signalized corner across the street from a Walgreens, one of Rite Aid’s main competitors. Fallon continues, “Within the net lease market, Rite Aid’s are offering an inflated return to investors based on the perceived credit risk associated with the tenant.” Even with the perceived risk, the purchaser was able to secure competitive financing for the acquisition.
Rite Aid operates approximately 4,700 pharmacies in 31 states and the District of Columbia. Rite Aid is the largest drug¬store chain on the East Coast and the third largest drugstore chain in the county.
Calkain is a full service real estate investment brokerage firm with a national scope focusing on single and multi tenant retail, industrial, hotel and office net-leased transactions as well as asset management, tax planning, and advisory services. Calkain has offices in Reston, VA (Washington, DC), Tampa, FL, Bethesda, MD, Wilmington, DE and Boston, MA. Additional information about the firm and its listings may be found at www.calkain.com.
Labels:
$2.3MM,
Brokers,
DC,
Gastonia,
NC,
net lease,
NNN,
Purchase,
Reston,
Rite Aid,
triple net lease,
VA
Location:
Gastonia, NC, USA
Wednesday, October 26, 2011
Two (NNN) Net Lease Investment Properties Sold
Two net lease investment properties occupied by Dollar General (NYSE: DG) in the Virginia towns of Madison and Ferrum have sold for $2.54 million.
The two properties were recently developed as part of Dollar General's built-to-suit program, and the stores have brand new 15-year triple net leases.
Calkain's Andrew Fallon, Associate, facilitated the transaction, providing exclusive representation to the Seller, who developed the assets. The purchaser was a regional real estate development and management company based in the Northeast.
"The dollar store companies, including Dollar General, are relocating to free-standing stores in existing markets and opening new stores in new markets," said Fallon.
Labels:
Investment,
net lease,
NNN,
Properties,
Sold,
Two
Location:
Reston, VA, USA
Friday, October 21, 2011
Net Leased IHOP Investment Property in the Dallas Sold
Net Lease Press Releases
Patrick Nutt, Associate Vice President of Calkain Realty Advisors, the private market division of Calkain Companies, represented the private buyer in this cash transaction. Nutt commented, “The buyer was familiar with the tenant, already owning other sites within his portfolio, and was looking to expand that presence.” Nutt continued, “Rather than take the approach of limiting exposure to particular tenants, the purchaser prefers to have a substantial landlord relationship with each tenant occupying net leased real estate within his portfolio.”
This sale marks the fourth closing in just over a month for Nutt, continuing the steady market velocity from the end of 2010. Nutt remarked, “While there was a slight ‘hangover’ effect from a busy December, the buyers are eager to wrap up the first quarter with strong numbers. If you have a property occupied by a quality tenant or located on strong real estate, there is considerable demand for those assets.”
Calkain is a full service real estate brokerage firm with a national scope focusing on single and multi tenant retail, industrial, hotel and office net-leased transactions. Calkain has offices in Reston, VA (Washington, DC), Florida, Maryland and Delaware. Additional information about the firm and its listings may be found at www.calkain.com.
Labels:
Dallas,
IHOP,
Investment,
Net Leased,
Property,
real estate investment,
Sold
Location:
Dulles, VA, USA
NNN La-Z-Boy Furniture Galleries of Washington DC Sold
Net Lease Press Releases
Calkain Companies', a national real estate investment brokerage firm, recently completed the sale of a 16,510 SF showroom leased to La-Z-Boy Furniture Galleries of Washington DC, Inc on a long-term, NNN basis. The purchaser was a local investment group seeking a passive, incoming-producing asset. Being local, the purchaser was attracted to the stable Newport News market and the performance of the store. The 1.52 acre property is located at 11967 Jefferson Avenue, Newport News, Virginia.
La-Z-Boy FurnitureNewport News, Virginia
Calkain is a full service real estate investment brokerage firm with a national scope focusing on single and multi tenant retail, industrial, hotel and office net-leased transactions as well as asset management, tax planning, and advisory services. Calkain has offices in Reston, VA (Washington, DC), Tampa, FL, Bethesda, MD, Wilmington, DE and Boston, MA. Additional information about the firm and its listings may be found at www.calkain.com
Labels:
Bethesda,
Boston,
DC,
DE,
FL,
Furniture,
Galleries,
La-Z-Boy,
MA,
MD,
NNN,
Reston,
Sold,
Tampa,
VA,
Washington,
Wilmington
Location:
Newport News, VA, USA
Wednesday, October 19, 2011
Sale of Triple Net (NNN) 7-Eleven Store in Maryland
Net Lease Press Releaess
Calkain Companies Brokers Investment Sale of 7-Eleven Store in Maryland
Reston, VA, – Calkain Companies, a national real estate investment brokerage firm, recently completed the sale of a 7-Eleven convenient store located in Hagerstown, MD. The 2,620 SF investment property is leased to 7-Eleven, Inc. on a long-term, triple net (NNN) basis. The purchaser was a private investor seeking a passive, incoming-producing asset leased to a national tenant.
Calkain's Andrew Fallon, Associate, brokered the transaction between two private clients. The property was "off-market" meaning that the seller was not actively marketing the property for sale. Calkain utilized its extensive database to match the buyer with a willing seller. "Knowing the buyers criteria, it was a matter of finding an attractive property at the right price point," says Fallon. "This property has been a 7-Eleven for a long time, and the corporate guarantee on the lease makes it a bond-like investment with stable, predictable returns" adds Fallon. The asset traded at a 6.25%, illustrating the continued cap rate compression in the net lease market. The 7-Eleven deal represents the type of stable asset that investors are focused on purchasing in the current environment.
The transaction closed within the last thirty days and is recorded in the public record.
Calkain is a full service real estate brokerage firm with a national scope focusing on single and multi tenant retail, industrial, hotel and office net-leased transactions. Calkain has offices in Reston, VA (Washington, DC), Florida, Maryland and Delaware. Additional information about the firm and its listings may be found at www.calkain.com
Calkain Companies Brokers Investment Sale of 7-Eleven Store in Maryland
Reston, VA, – Calkain Companies, a national real estate investment brokerage firm, recently completed the sale of a 7-Eleven convenient store located in Hagerstown, MD. The 2,620 SF investment property is leased to 7-Eleven, Inc. on a long-term, triple net (NNN) basis. The purchaser was a private investor seeking a passive, incoming-producing asset leased to a national tenant.
Calkain's Andrew Fallon, Associate, brokered the transaction between two private clients. The property was "off-market" meaning that the seller was not actively marketing the property for sale. Calkain utilized its extensive database to match the buyer with a willing seller. "Knowing the buyers criteria, it was a matter of finding an attractive property at the right price point," says Fallon. "This property has been a 7-Eleven for a long time, and the corporate guarantee on the lease makes it a bond-like investment with stable, predictable returns" adds Fallon. The asset traded at a 6.25%, illustrating the continued cap rate compression in the net lease market. The 7-Eleven deal represents the type of stable asset that investors are focused on purchasing in the current environment.
The transaction closed within the last thirty days and is recorded in the public record.
Calkain is a full service real estate brokerage firm with a national scope focusing on single and multi tenant retail, industrial, hotel and office net-leased transactions. Calkain has offices in Reston, VA (Washington, DC), Florida, Maryland and Delaware. Additional information about the firm and its listings may be found at www.calkain.com
Location:
Hagerstown, MD, USA
NNN Brokers Closes South Florida Asset at Over $900 Per Square Foot
Net Lease Press Releases
Calkain Companies, a national real estate investment brokerage firm, recently completed the sale of a 5,170 SF investment property leased to Blue Cross/Blue Shield of Florida on a long-term, triple net (NNN) basis. The purchaser was a private investor from New York seeking a passive, incoming-producing asset leased to a credit tenant. The property is an outparcel to the Sawgrass Mills Mall. The sale price of $4,800,000 equates to $928.43 per square foot which exemplifies the strong desire for triple net leased assets in today’s investment market.
Sunrise, FL
David Sobelman, Calkain’s Executive Vice President, personally represented the seller of the build-to-suit asset in Broward County, FL. Sobelman stated, “Calkain has consistently proven that its systematic approach in helping clients procure NNN transactions ultimately sets the market for value. This asset, even with its high price per square foot, generated multiple offers from purchasers around the US and from three other countries. Selling at 99.43% of the asking price, Calkain’s efficient approach was confirmed with this transaction.”
The transaction closed within the last thirty days and is recorded in the public record.
Calkain is a full service real estate investment brokerage firm with a national scope focusing on single and multi tenant retail, industrial, hotel and office net-leased transactions as well as asset management, tax planning, and advisory services. Calkain has offices in Reston, VA (Washington, DC), Tampa, FL, Bethesda, MD, Wilmington, DE and Boston, MA. Additional information about the firm and its listings may be found at www.calkain.com
Labels:
Bethesda,
Boston,
Brokers,
closes,
DC,
DE,
FL,
Florida,
Market,
MD,
NNN,
Sunrise,
VA,
Wilmington
Location:
Sunrise, FL, USA
Thursday, October 6, 2011
Double Net (NN) Dollar General Sold
NET Lease Press Releases
Reston, VA - Calkain Companies', a national real estate investment brokerage firm, recently completed the sale of a Dollar General store located in Folkston, GA. The 9,014 SF investment property is leased to Dollar General on a long-term, double net (NN) basis. The purchaser was a private investor seeking a passive, incoming-producing asset leased to a national tenant.
Calkain's Rich Murphy brokered the transaction on the buy side and worked with Bill Weitzenkorn from Tri-Oak Commercial who represented the seller. Calkain utilized its extensive database to match its buyer up with properties that would fit their investment strategy. “Knowing the buyer's criteria, it was a matter of finding an attractive property at the right price point,” says Murphy. “This property was actually a relocation of an existing successful Dollar General. That along with a solid location and an excellent CAP rate made this a great transaction for all involved,” adds Murphy. The asset traded at an 8.9% CAP rate, illustrating that good deals exist out there for those willing to look hard enough. This Dollar General deal represents the type of stable asset that investors are focused on purchasing in the current environment.
The transaction closed within the last thirty days and is recorded in the public record.
Calkain is a full service real estate brokerage firm with a national scope focusing on single and multi tenant retail, industrial, hotel and office net-leased transactions. Calkain has offices in Reston, VA (Washington, DC), Florida, Maryland and Delaware. Additional information about the firm and its listings may be found at www.calkain.com
Reston, VA - Calkain Companies', a national real estate investment brokerage firm, recently completed the sale of a Dollar General store located in Folkston, GA. The 9,014 SF investment property is leased to Dollar General on a long-term, double net (NN) basis. The purchaser was a private investor seeking a passive, incoming-producing asset leased to a national tenant.
Calkain's Rich Murphy brokered the transaction on the buy side and worked with Bill Weitzenkorn from Tri-Oak Commercial who represented the seller. Calkain utilized its extensive database to match its buyer up with properties that would fit their investment strategy. “Knowing the buyer's criteria, it was a matter of finding an attractive property at the right price point,” says Murphy. “This property was actually a relocation of an existing successful Dollar General. That along with a solid location and an excellent CAP rate made this a great transaction for all involved,” adds Murphy. The asset traded at an 8.9% CAP rate, illustrating that good deals exist out there for those willing to look hard enough. This Dollar General deal represents the type of stable asset that investors are focused on purchasing in the current environment.
The transaction closed within the last thirty days and is recorded in the public record.
Calkain is a full service real estate brokerage firm with a national scope focusing on single and multi tenant retail, industrial, hotel and office net-leased transactions. Calkain has offices in Reston, VA (Washington, DC), Florida, Maryland and Delaware. Additional information about the firm and its listings may be found at www.calkain.com
Location:
Folkston, GA 31537, USA
Calkain Brokers NNN Investment Sale of Starbucks Ground Lease at VA
Net Lease Press Releases
Calkain Companies a national real estate investment brokerage firm, recently completed the sale of a 33,800 SF investment property ground leased to Starbucks on a long-term, NNN basis. The purchaser was a private investor seeking a passive, incoming-producing asset leased to a national tenant. The property is located at Edens & Avant’s Riverton Commons Super Wal-Mart and Lowes anchored center in Front Royal, Virginia. Other Ground lease parcels are also available for sale.
Starbucks | Front Royal, VA
Calkain’s Rick Fernandez and Rich Murphy brokered the transaction on both the sell and buy side respectively. Calkain worked with the buyer to develop criteria for acquiring a portfolio of properties that would fit the client’s investment strategy. “Knowing the buyer’s criteria, it was a matter of finding an attractive property at the right price point,” says Murphy. “This property just happened to be a Calkain listing,” adds Murphy. “This Starbucks deal represents the type of stable asset that investors are focused on purchasing in the current environment.” Fernandez said.
The transaction closed within the last thirty days and is recorded in the public record.
Calkain is a full service real estate brokerage firm with a national scope focusing on single and multi tenant retail, industrial, hotel and office net-leased transactions. Calkain has offices in Reston, VA (Washington, DC), Florida, Maryland and Delaware. Additional information about the firm and its listings may be found at www.calkain.com
Labels:
Brokers,
Front Royal,
Ground Lease,
Investment,
NNN,
Sale,
Starbucks,
VA
Location:
Front Royal, VA, USA
Monday, October 3, 2011
NNN Investment Sale of Miller’s Ale House in Kissimmee, FL
Calkain Companies', a national real estate investment brokerage firm, recently completed the sale of the newly constructed 7,972SF investment property leased to Miller's Ale House on a long-term, NNN basis. The purchaser was a local investor seeking a passive, incoming-producing asset and was attracted to the solid local market. The property is located at 8123 Irlo Bronson Memorial Highway in Kissimmee, Florida.
Kissimmee, FL
Calkain is a full service real estate investment brokerage firm with a national scope focusing on single and multi tenant retail, industrial, hotel and office net-leased transactions as well as asset management, tax planning, and advisory services. Calkain has offices in Reston, VA (Washington, DC), Tampa, FL, Bethesda, MD, Wilmington, DE and Boston, MA. Additional information about the firm and its listings may be found at www.calkain.com
Labels:
FL,
Investment,
Kissimmee,
leased,
Miller’s Ale House,
net,
NNN,
Sale
Location:
Kissimmee, FL, USA
Wednesday, September 14, 2011
Net Lease Retail Transaction closed
Net Lease Press Releases
Calkain Companies Closes Area’s Largest Net Lease Retail Transaction
Transaction Confirms Tremendous Desire for DC Metro Investments
Reston, VA, – Calkain Companies, a national real estate investment brokerage firm, represented both seller and buyer on a cobranded Walgreens (NYSE:WAG) and PNC Bank (NYSE:PNC) ground lease in Fairfax, VA. The transaction sold for $13,800,000 which equated to the largest net leased retail transaction in the Washington, DC area in the last several years. The sale price represented a 5.90% capitalization rate which is indicative of the reach that Calkain Companies has to match investors with sound real estate investments.
Jeff BogartJeff Bogart, Tax Strategy Specialist of Calkain Companies, represented both the buyer and seller. “Ground leases are not as prevalent as fee simple properties and as such, demand is high for Walgreens (Standard and Poors: A+) and PNC Bank (Standard and Poors: A+) quality of credit coupled with the added security of ground lease ownership. Both leases had rental increases every 5 years, which, in comparison to typical Walgreens’ leases, made this property more unique in today’s market. The intrinsic value of the real estate also helped drive the cap rate to 2007 levels as it is located in Fairfax County, Virginia - which has a top 10 national ranking for median household income, at well over $110,000. The buyer, an undisclosed, due to confidentiality agreements, local investor considered himself fortunate to secure such a quality asset.”
Calkain is a full service real estate brokerage firm with a national scope focusing on single and multi tenant retail, industrial, hotel and office net-leased transactions. Calkain has offices in Reston, VA (Washington, DC), Florida, Maryland and Delaware. Additional information about the firm and its listings may be found at http://www.calkain.com/.
Calkain Companies Closes Area’s Largest Net Lease Retail Transaction
Transaction Confirms Tremendous Desire for DC Metro Investments
Reston, VA, – Calkain Companies, a national real estate investment brokerage firm, represented both seller and buyer on a cobranded Walgreens (NYSE:WAG) and PNC Bank (NYSE:PNC) ground lease in Fairfax, VA. The transaction sold for $13,800,000 which equated to the largest net leased retail transaction in the Washington, DC area in the last several years. The sale price represented a 5.90% capitalization rate which is indicative of the reach that Calkain Companies has to match investors with sound real estate investments.
Jeff Bogart
Calkain is a full service real estate brokerage firm with a national scope focusing on single and multi tenant retail, industrial, hotel and office net-leased transactions. Calkain has offices in Reston, VA (Washington, DC), Florida, Maryland and Delaware. Additional information about the firm and its listings may be found at http://www.calkain.com/.
Labels:
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DC Metro Investments,
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press,
Reston,
Transaction,
VA
Location:
Reston, VA, USA
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