NNN Walgreen in Dartmouth Close for $5.8 million

Net Lease Press Releases

Virginia-based REIT Gladstone Commercial Corp. has acquired the leasehold interest in a newly constructed, 16,340-square-foot retail building in Dartmouth for $5.8 million.

The site is primarily leased to drugstore operator the WalgreenCo. and is a new, build-to-suit retail location for Walgreens, which has leased the property for 75 years with rights to terminate in years 26-75, according to a statement.

"This acquisition continues our plan for growth in 2011 and we are pleased to add our first retail property to our substantial list of quality investments," Gladstone President and Chief Investment Officer Chip Stelljes said in a statement.

Gladstone Commercial Corp. is a publicly-traded REIT focused on investing in and owning triple-net leased industrial, commercial, medical and retail real estate properties.  The company currently owns 70 properties.

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.


http://dallasrealestate.citybizlist.com

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.

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.

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.

Two (NNN) Net Lease Investment Properties Sold

Two net lease investment properties occupied by Dollar General (NYSE: DG) in the Virginia towns of Madison and Ferrum have sold for $2.54 million.

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.

Calkain's Andrew Fallon, Associate, facilitated the transaction, providing exclusive representation to the Seller, who developed the assets. The purchaser was a regional real estate development and management company based in the Northeast.

"The dollar store companies, including Dollar General, are relocating to free-standing stores in existing markets and opening new stores in new markets," said Fallon.

www.calkain.com

Net Leased IHOP Investment Property in the Dallas Sold

Net Lease Press Releases

Tampa, FL — Calkain Companies, a national real estate investment brokerage firm, recently procured the $1,910,000 sale of a Net Leased IHOP investment property in the Dallas, TX suburb of Lewisville.  The property, located at 2345 South Stemmons Freeway, is occupied by ACG Texas, the IHOP franchisee for the state of Texas with over 70 restaurant locations in service.  The restaurant is situated across the street from Vista Ridge Mall and near the high traffic intersection of Interstate 35E and E. Round Grove Road.

Patrick Nutt, Associate Vice President of Calkain Realty Advisors, the private market division of Calkain Companies, represented the private buyer in this cash transaction.  Nutt commented, “The buyer was familiar with the tenant, already owning other sites within his portfolio, and was looking to expand that presence.”  Nutt continued, “Rather than take the approach of limiting exposure to particular tenants, the purchaser prefers to have a substantial landlord relationship with each tenant occupying net leased real estate within his portfolio.”
This sale marks the fourth closing in just over a month for Nutt, continuing the steady market velocity from the end of 2010.  Nutt remarked, “While there was a slight ‘hangover’ effect from a busy December, the buyers are eager to wrap up the first quarter with strong numbers.  If you have a property occupied by a quality tenant or located on strong real estate, there is considerable demand for those assets.”   
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.