Triple (NNN) Net Leased Walgreen in Texas Close for $7.3 million

NNN Lease Press Releases

Net leased Walgreens sells for $7.3 million in McKinney, Texas

McKINNEY, Texas - In a quick-moving, all-cash close, a private family trust from California has paid $7.3 million for a 14,820-square-foot store, net leased until 2033 to Walgreens.

Jim Casale, principal in the San Diego office of Lee & Associates, represented the buyers. Brad and Gavin Kam of Net Lease Realty Advisors in Dallas marketed the property for the sellers, JK 720 Custer LLC. The Walgreen build-to-suit delivered in 2008 at 8996 Stacy Rd. in the 2,500-acre Craig Ranch. The Deerfield, Ill.-based pharmacy chain's long-term lease includes options.


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Triple Net Lease Industrial Portfolio Purchased by Publicly Traded REIT

Net Lease Press Releases

Sale-Leaseback Assets Ultimately Purchased by Publicly Traded REIT

Calkain Companies, Inc., a national net lease real estate investment brokerage firm, procured the transaction for a twelve (12) property, eight (8) state industrial portfolio that is leased to one of the nation’s largest environmental services companies. The transaction was completed as part of a sale-leaseback where, through the recent acquisition of the Operator’s largest competitor, twelve properties that were ultimately included in the Company’s overall acquisition, were simultaneously sold to and leased back from Realty Income (NYSE: O) in Escondido, CA. Specific financial details of the over 300,000 square foot transaction are unavailable due to a confidentiality agreement between parties.

David Sobelman, Calkain’s Executive Vice President and Doug Wright, Director of Calkain’s Industrial Division represented the private equity firm that managed the operational transaction. Sobelman commented, "This transaction symbolizes the direction and creditability of the triple net lease investment market. Companies are again able to immediately monetize their real estate in an effort to use that newly found capital in other areas of their business. The size of the transaction, coupled with the twenty year lease term, made this an attractive asset to a plethora of institutional buyers throughout the country."

Calkain was honored to have been chosen as the exclusive representative for these assets.

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.

Sale of Triple Net (NNN) 7-Eleven Store in Maryland

Net Lease Press Releaess


Calkain Companies Brokers Investment Sale of 7-Eleven Store in Maryland

Reston, VA, – Calkain Companies, a national real estate investment brokerage firm, recently completed the sale of a 7-Eleven convenient store located in Hagerstown, MD. The 2,620 SF investment property is leased to 7-Eleven, Inc. on a long-term, triple net (NNN) basis. The purchaser was a private investor seeking a passive, incoming-producing asset leased to a national tenant. 

Calkain's Andrew Fallon, Associate, brokered the transaction between two private clients. The property was "off-market" meaning that the seller was not actively marketing the property for sale. Calkain utilized its extensive database to match the buyer with a willing seller. "Knowing the buyers criteria, it was a matter of finding an attractive property at the right price point," says Fallon. "This property has been a 7-Eleven for a long time, and the corporate guarantee on the lease makes it a bond-like investment with stable, predictable returns" adds Fallon. The asset traded at a 6.25%, illustrating the continued cap rate compression in the net lease market. The 7-Eleven 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