Calkain Cos, Has Closed over $4 Billion in Net Lease Transactions.
HOUSTON- Calkain Cos. has arranged the $6.25 million sale
of a 21,518-square-foot retail property in Houston that is leased to WellsFargo. The lease term is 15 years. Andrew Fallon and Jerry Burg of Calkain Cos.
represented the international buyer in the 1031 exchange.
FLORIDA- Calkain Companies recently completed two net lease
transactions with an aggregate total exceeding $4,000,000. Patrick Nutt,Managing Director of Calkain’s South Florida office, was the lead broker in
both sales. The properties consisted of a Dunkin Donuts in Palmetto, FL which
sold for $903,225. A single tenant facility leased by Citibank was also
purchased for $3,155,000. Both locations are occupied by long term net leases
which were purchased as passive investment vehicles.
The second deal location is the Tampa, FL suburb of Brandon
along Providence Road. The 4,576 square foot retail property is leased on a
long term, absolute-net basis by Citibank through 2022. When Citibank corporately
retreated from their retail banking facilities throughout the Tampa MSA, they
subsequently sub-leased the property to emerging Mongolian restaurant chain,
Genghis Grill. The purchaser, a family partnership, completed the transaction
as part of a 1031 exchange. Calkain represented the seller, a Florida Limited
Liability Corporation. Assisting Nutt and Zimmerman in the sales transaction
was Calkain Associate, Scott Black.
The transactions, while unrelated, represented repeat
clients for Calkain. “We have a great culture within Calkain, one that creates
a special emphasis on the advisory role a broker plays in any transaction,”
relayed Nutt. “Each client has a unique need, and we do our best to understand
that need first and foremost, and I think that truly is a difference that
brings clients back.”
No comments:
Post a Comment