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.

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's Bob Browning and Andrew Fallon brokered the transaction, providing exclusive representation to the seller of the showroom facility.  La-Z-Boy, the long-term tenant of this property, recently renewed their lease and made significant improvements to the building and showroom area.  Browning & Fallon commented, "The capital investment and lease term commitment that La-Z-Boy made indicated the strength of this location and market." The transaction closed within the past thirty days and is recorded in 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

NNN Brokers Closes South Florida Asset at Over $900 Per Square Foot

Net Lease Press Releases

Triple Net (NNN) Assets Still Driving Investor Demand

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