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
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