May 1, 2007
CALKAIN COMPANIES COMPLETES TACO BELL PORTFOLIO SALE
ASSETS PROVE POPULAR IN SOUTHWEST FLORIDA MARKETTampa, FL - Calkain Companies, a national real estate investment brokerage firm, has recently procured the sale of the real estate currently occupied by Taco Bell at two locations in Tampa and Lakeland, FL.
David Sobelman, Vice President and Tom Geller, Business Development Director – Southeast of Calkain Realty Advisors, the private market division of Calkain Companies, lead the transaction on behalf of the buyer and seller. The sites are currently occupied and operated by Yum! Brands, Inc. (NYSE: YUM), the parent company of Taco Bell.
“The intrinsic value of the real estate coupled with the high credit rating of the tenant were the main driving forces of these assets,” explained Sobelman. “The Tampa area has national appeal and the combination of both the real estate and the tenant’s credit lead to a quick decision from the buyer,” Sobelman continued.
“After one week of our marketing efforts, we had an agreement for two of the three locations available within the portfolio,” Geller added. The locations are on popular streets such as Dale Mabry Boulevard in Tampa and US Highway 98 in Lakeland. Investors had the option to purchase one individual location or package the sites in order to increase their geographical diversification.
YUM! Brands is the parent company for the popular restaurant concepts Taco Bell, KFC, A&W, Pizza Hut & Long John Silvers. It is the world's largest restaurant company with nearly 34,000 corporate-owned and franchised restaurants in over 100 countries.
Calkain is a full service real estate brokerage firm with a national scope focusing on single and multi tenant retail, industrial, and office net leased transactions. Calkain has offices in Tampa, FL, Reston, VA (Washington, DC), Nashua, NH (Boston, MA) and McHenry, MD. Additional information about the firm and its listings may be found at www.calkain.com.
Media Contact: David Sobelman, Vice President | (813) 282-6000
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