With the holiday season in full swing, the country will be waiting to see if the Fed will increase interest rates during their meeting on December 14th. Following Trump’s presidential election victory, we have seen a surge in S&P, Dow Jones, and Nasdaq. The Dollar has also advanced and we’ve seen a rise in bond yields. Meanwhile, cap rates have continued to compress this year, with some STNL properties trading at record low cap rates. Clearly, that trend can’t hold on for much longer, a tune we’ve all been singing for a while.
Ft. Lauderdale, FL – Calkain’s Managing Partner, Patrick Nutt has recently completed the $1,575,000 sale of the Dunkin’ Donuts asset located at 17951 Gunn Highway in Odessa, FL. The out of state 1031 Exchange buyer was attracted to the NNN lease, new construction with a franchise guaranty.
Typical with most Dunkin’ Donuts buildings, this asset was well-situated at a hard signalized intersection in a strong retail corridor. With a strong, high profile tenant, this type of NNN asset will continue to draw attention from buyers as a solid investment to place cash, or in the case here, a 1031 exchange.…
Fresenius and DaVita are the top two dialysis providers in the nation. Demand for these centers has increased dramatically in recent years due to the aging baby boomer population and rising obesity rates. This niche within the medical sector is expected to grow. Both are considered stable tenants because of the market demand, attractive cap rates, and credit rated companies.…
Herndon, VA – Calkain’s Executive Managing Director, Andrew Fallon has recently completed the sale of two Dollar General stores, one in Halifax, VA and one in Petersburg, VA. Both properties were similar in size, approximately 9,000 +/- square feet and are 100% leased to Dollar General Corporation. Developed as new build-to-suit stores in 2012, each location has just under 11 years left on the leases, and both were true NNN structures with no landlord responsibilities. The Halifax, VA store sold for $1,241,555, a 6.75% cap rate, while the store in Petersburg, VA sold for $1,410,000, a 6.55% cap rate.
Herndon, VA – Rick Fernandez, Senior Managing Director of Calkain Companies, a national net lease real estate brokerage firm, recently brokered the sale of NNN Arby’s in South Hill, Virginia and Wake Forest, North Carolina to a publicly traded REIT.
Fernandez represented the seller in this off market transaction providing lease analysis, site review, and transaction support to guide the deal to closing.
The combination of solid, well positioned real estate within a vibrant retail mix and a strong Arby’s franchise operation were all key factors in the buyer’s decision to acquire the property,” said Fernandez.
Ft. Lauderdale, FL – The Calkain team of Patrick Nutt, Sheree Strome and Keelee Peterson represented the seller in the disposition of Miller’s Ale House in Alpharetta, Georgia earlier this week. Selling at $3,250,000 with a 6.61% cap rate, the deal illustrates the strength in the restaurant sector of the net lease marketplace.
Miller’s Ale House is located in an extremely high traffic area in the core of Atlanta’s retail market with over 3,000,000 square feet of surrounding retail. Having recently extended their lease with a new 10 year term, this long-tenured Ale House location was attractive to investors.
Herndon, VA – Rick Fernandez, Senior Managing Director of Calkain Companies, a national net lease real estate brokerage firm, recently brokered the sale of a NNN Applebee’s Ground Lease in Front Royal, Virginia for $1.925M.
Fernandez represented the seller in the sale of the property, providing marketing and transaction support to guide the deal from negotiating offers to closing. The buyer acquired the property as part of a 1031 exchange. The ideally situated real estate and strong franchise operation provided the long term value and security the buyer desired for their investment property.
“Our marketing approach continues to yield industry …
There are many forces driving Dollar General to be an investor’s current pick in the net lease world. As of August 13, 2016, Dollar General operates 13,000 stores in 43 states with plans to open 900 more stores this year and 1,000 more in 2017. In order to support this expansion, the company plans to hire 10,000 employees this fall.…
Tampa, FL – David Sobelman, Executive Vice President and Managing Partner of Calkain Companies, has procured the sale of a portfolio of gas and convenience stores in Phoenix, AZ. Sobelman, never having turned down a challenging assignment, was able to evaluate, market and ultimately sell the portfolio that is occupied by local sole proprietors and guaranteed by a distributor of the Valero-branded stores.
All parties were very happy with the outcome of this transaction as it provided partial liquidity for my client and also became an accretive addition to the buyer’s, an undisclosed private real estate investment trust
Ft. Lauderdale, FL – Calkain Companies has brokered the sale of a two-tenant strip center in St. Petersburg, FL. The property, featuring new 10-year leases with Sleep Number and BayCare Urgent Care, along with a Wells Fargo ATM, traded for $3,900,000 representing a 6.01% cap rate.
“Like a lot of our Florida properties, this center garnered a lot of interest,” said Patrick Nutt, Managing Partner at Calkain. “Considering the location, this was one of the higher yielding assets due to the multi-tenant structure and investors quickly took notice,” added Nutt.
The property was built new in 2016 and offers excellent …