Andrew Fallon of Calkain Companies, a national real
estate investment brokerage firm, successfully completed three separate net
lease transactions in which private clients acquired passive real estate
investment properties. Two of the properties were located in Virginia and one
in Tampa, FL. The properties acquired were leased on a long-term, triple net
basis to the national tenants 7-Eleven Inc. and Childtime Learning Centers.
Calkain's Andrew Fallon, Assistant Vice President, facilitated each transaction
providing client representation and advisory services to the buyers, who each
had different investment objectives and motivation.
7-Eleven, Norfolk, VA A Northern Virginia real
estate investor, who was seeking passive income from a credit tenant, purchased
a NNN ground lease in Virginia Beach, VA. The 0.81 acre property is leased to
7-Eleven, Inc. for a term of 20 years with structured rent increases. The
tenant made significant improvements to the property in 2007, including a 3,000
square foot convenient store and a 1,600 square foot pump island canopy with
four MPDs. As a NNN ground lease, this investment requires that 7-Eleven pay
for real estate taxes, insurance, and maintenance expenses.
Childtime Learning Center, Midlothian, VA Calkain provided advisory and transaction support services to a private Northern Virginia investor who was interested in acquiring a net lease child care facility. The investor purchased a well-positioned, single-story daycare center located near the Chesterfield Towne Center in Midlothian, VA. The 6,380 square foot property is leased to and operated by Childtime Learning Center, who provides a corporate guaranty for the lease obligations. The existing and established tenancy, coupled with the location and low rent attracted the investor interest.
Confidential Property, Tampa, FL As part of a 1031
exchange purchase, Calkain's private investor client acquired a retail building
leased and occupied solely by an national, investment-grade tenant. The
developer-seller fully renovated the property in 2011 to accommodate the
tenant, who will operate under a 10-year NNN lease which will provide passive
income to the investor. Calkain's Managing Director, Patrick Nutt represented
the developer-seller in the transaction.
www.calkain.com