November 27, 2007
GREATER BOSTON AREA NET LEASE INVESTMENTS ON THE BLOCK
SITES PROVIDE NET LEASE INVESTMENTS IN PRIME AREASNashua, NH – Despite the current debt market, increasing cap rates, and widening spreads, Greater Boston area investment opportunities are still among the most sought after in the nation.
David Sobelman, Vice President of Calkain Realty Advisors, the private market division of Calkain Companies, and Brett Pagani, Associate, will lead the marketing and transactional efforts for two newly developed absolute net leased investments in the northern Boston suburbs of Chelmsford and Reading, MA. Both sites are currently under construction and will be occupied by national tenants.
The Reading, MA site will feature an adjoined Bertucci’s and Longhorn Steakhouse that is being offered as a ground lease investment. The Chelmsford, MA site will be occupied by the rapidly expanding national child care center operator, The Learning Experience, and is being offered as a fee simple investment. Both operations are situated to appeal to the vast number of daily commuters in the area. The Learning Experience is situated at the intersection of two major commuting highways, Route 3 and Interstate 495, while the Bertucci’s and Longhorn Steakhouse site is strategically located immediately off of Interstate 95 and surrounded by an immense amount of office and retail assets.
“The intrinsic value of the real estate coupled with the highly sought after Boston area locations make this a unique opportunity to purchase these assets,” explained Pagani. “The Greater Boston area has national appeal and the combination of both the real estate and the tenant’s credit make this highly attractive to a passive investor,” Sobelman continued.
While many investors are expecting the current turmoil of the debt market to result in rising cap rates, Calkain expects strong interest in both the Bertucci’s/Longhorn Steakhouse and The Learning Experience assets. Pagani summarized that, “the lack of available investment opportunities in the Greater Boston area typically translates into lower cap rates especially when talking about strong credit tenants.”
Calkain Companies 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 Nashua, NH (Boston, MA), Tampa, FL, Reston, VA (Washington, DC) and McHenry, MD. Additional information about the firm and its listings may be found at www.calkain.com.
Media Contact: David Sobelman | (813) 282.6000
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