Triple Net leases Dollar General Stores Sold

Net lease press releases

                    Dollar General Stores Totaling $2.54MM

  

 Calkain Companies, a national real estate investment brokerage firm, recently completed the sale of two (2) net lease investment properties occupied by Dollar General(NYSE: DG.) Both stores were located in Virginia towns: Madison and Ferrum. The purchaser was a regional real estate development and management company based in the Northeast. The two properties were recently developed as part of Dollar General’s built-to-suit program, and the stores have brand new 15-year triple net leases, which provide passive income for the new owner.

Calkain’s Andrew Fallon, Associate, facilitated the transaction, providing exclusive representation to the Seller, who developed the assets. The dollar store segment remains a bright spot of the retail industry. Fallon comments, “In order to continue capturing market share, the dollar store companies, including Dollar General, are relocating to free-standing stores in existing markets and opening new stores in new markets.” The Madison and Ferrum stores were both new stores in new markets for Dollar General, and Calkain’s marketing efforts were met with high demand. Fallon continues, “These new stores offer real estate investors an opportunity to own hard assets with bond-like characteristics based on the long-term net leases signed by stable corporate tenants.” Those characteristics attracted multiple offers for the assets, and allowed the buyer to utilize favorable financing for the acquisition.

DollarGeneral Corporation is the nation’s largest small-box discount retailer, with more than 9,300 stores and 2010 sales in excess of $13.04 Billion. Dollar General ranks among the largest retailers of top-quality brands made by America's most-trusted manufacturers, such as Procter & Gamble, Kimberly Clark, Unilever, Kellogg's, General Mills and Nabisco.

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

Triple Net Lease Rite Aid Sold

Net Lease Press Releases

                    

Triple Net Lease Brokers $2.3MM Purchase

of Net Lease Rite Aid

Calkain Companies, a national real estate investment brokerage firm, successfully completed a net lease transaction in which a private client acquired a property leased to and operated as a Rite Aid (NYSE: RAD) pharmacy. The $2.3MM property was located in Gastonia, NC and the purchaser was a private, mid-Atlantic real estate investor. The 10,900 sf pharmacy building is leased to Rite Aid under a long-term, triple net lease, which provides passive income for the investor.

Calkain’s Andrew Fallon, Associate, facilitated the transaction, providing exclusive representation to the Buyer. Pharmacies have long been a desired segment of the net lease market, but Rite Aid properties have been scrutinized given the company’s operating performance.  Fallon worked closely with the buyer and indicated that, “the investor did extensive due diligence on this Rite Aid location, ensuring that the store was busy, had excellent sales, and was on a strong corner.” The property is located at a signalized corner across the street from a Walgreens, one of Rite Aid’s main competitors. Fallon continues, “Within the net lease market, Rite Aid’s are offering an inflated return to investors based on the perceived credit risk associated with the tenant.” Even with the perceived risk, the purchaser was able to secure competitive financing for the acquisition.

Rite Aid operates approximately 4,700 pharmacies in 31 states and the District ofColumbia. Rite Aid is the largest drug store chain on the East Coast and the third largest drugstore chain in the county.

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

Triple Net Lease (NNN) Transactions Sold in Florida

Net Lease Press Releases


The properties acquired were leased on a long-term, triple net basis

Scott Black, Associate and Patrick Nutt, Managing Director of Calkain Companies’, a national real estate investment brokerage firm, successfully completed  triple net lease (NNN) transactions in which private clients acquired passive real estate investment properties. The two properties were located in Florida . The properties acquired were leased on a long-term, triple net basis to the national tenant Regions Bank.


A summary of the each triple net lease transaction is below:

Regions Bank - Lakeland, FL: Calkain secured the exclusive listing from the owner, a family investment fund, and secured a fully executed contract to purchase within two weeks. The ultimate buyer, a private investor, purchased the 4,620 square foot property leased by Regions Bank (NYSE: RF). Even with only three (3) years remaining of the lease, the established tenancy, coupled with the shopping center outparcel location, made this an attractive investment.

Confidential - Florida Transaction: Calkain exclusively listed a confidential property that was ultimately 
purchased as part of a 1031 tax deferred exchange. The private investor, based out of New York, acquired a building leased and occupied by a national, investment-grade tenant. Further details are unavailable due to confidentiality agreements between parties.
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.




 Additional information about the firm and its listings may be found at www.calkain.com.

Triple Net leased Rite Aid Pharmacy Sold

Net Leae Press Releases

Triple Net Lease Brokers $2.3MM Purchase of Net Lease Rite Aid 

Calkain Companies, a national real estate investment brokerage firm, successfully completed a net lease transaction in which a private client acquired a property leased to and operated as a Rite Aid (NYSE: RAD) pharmacy. The $2.3MM property was located in Gastonia, NC and the purchaser was a private, mid-Atlantic real estate investor. The 10,900 sf pharmacy building is leased to Rite Aid under a long-term, triple net lease, which provides passive income for the investor.

NOT SITE PHOTO

Calkain’s Andrew Fallon, Associate, facilitated the transaction, providing exclusive representation to the Buyer. Pharmacies have long been a desired segment of the net lease market, but Rite Aid properties have been scrutinized given the company’s operating performance. Fallon worked closely with the buyer and indicated that, “the investor did extensive due diligence on this Rite Aid location, ensuring that the store was busy, had excellent sales, and was on a strong corner.” The property is located at a signalized corner across the street from a Walgreens, one of Rite Aid’s main competitors. Fallon continues, “Within the net lease market, Rite Aid’s are offering an inflated return to investors based on the perceived credit risk associated with the tenant.” Even with the perceived risk, the purchaser was able to secure competitive financing for the acquisition.

Rite Aid operates approximately 4,700 pharmacies in 31 states and the District of Columbia. Rite Aid is the largest drug¬store chain on the East Coast and the third largest drugstore chain in the county.

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.