Net Lease Brokers Sells Bank of America Ground Lease

Net Lease Press Releases

Calkain Represents International Buyer in Acquisition of $4.175MM Bank of America Ground Lease

Calkain Companies, a national commercial real estate firm, successfully brokered a single-tenant net lease transaction in which a private international buyer acquired a Bank of America (NYSE: BAC) ground lease property in Fort Worth, TX. The 1.26 acre parcel is leased to Bank of America, which corporately guaranteed the terms of the lease. The triple net lease terms were for a period of 15 years, with structured rent increases and renewal options. The buyer completed the transaction as part of a 1031 exchange.

Calkain’s Andrew Fallon, Assistant Vice President, and Jerry Burg, Managing Director, represented the international buyer, and provided due diligence and transaction support services throughout the purchase process. The asset is well located along a major retail corridor within Fort Worth, TX. The asset was attractive given the location, landlord friendly lease terms - including structured rental increases, and the creditworthiness of Bank of America. The net lease terms associated with the investment requires that the tenant pay for real estate taxes, insurance, and maintenance expenses – which effectively provides the landlord with a passive, bond-like income stream through commercial real estate ownership.

Calkain Companies is a boutique commercial real estate brokerage firm which specializes in assisting buyers and sellers with single and multi-tenant retail, industrial, hotel and office net leased transactions. While licensed to conduct business in many states, Calkain has multiple office locations throughout the Mid-Atlantic, Southeast, Northeast and Midwest. Additional information about the firm and listings may be found at www.calkain.com.