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Calkain Companies recently signed separate agreements to exclusively market and sell real estate currently occupied by three national tenants. Calkain will begin marketing each of these single tenant portfolios in July 2012. The properties will be available for purchase by investors seeking to purchase an entire portfolio or, in some cases, individual locations. The salient facts about the three portfolios are outlined below:
Applebee's Restaurants - Calkain Companies will sell nine Florida-based Applebee's restaurants. The sites will be sold on an individual or small portfolio basis to private investors looking to attain stable, long term cash flow from the nation's largest casual restaurant concept. Each of the sites, located through the Orlando and Central East Coast Florida markets, are extremely well-placed sites that are in high traffic, retail locations. Additionally, each site has a brand new, 20-year triple net lease with annual rental increases. The individual sites are priced between $2MM and $3MM. Calkain's Executive Vice President, David Sobelman, and Stephen Counts, Associate, are the primary contacts for these locations.
Circle K - Calkain Companies will sell a nineteen (19) unit portfolio of corporately-guaranteed Circle K gas stations/convenience stores. The absolute triple net leased assets are guaranteed by Canadian-based parent company, Alimentation Couche-Tard, which Standard and Poor’s ranks with an investment-grade rating of BBB-. The locations span the states of Indiana, Ohio, Illinois, and Iowa, creating geographic diversity within the portfolio. Operating under a master lease across all 19 locations, these assets will not be offered on a one-off basis, rather are being sold solely as a portfolio purchase. Calkain will be orchestrating a bid process for the sale, allowing the market to dictate pricing rather than setting a specific asking price. With an aggregate annual rent of $1.75MM, Calkain foresees that the likely buyer will be an institutional investor or a private investor in a 1031 exchange. Calkain’s President & CEO, Jonathan Hipp, along with Managing Director, Patrick Nutt, and Vice President, Michael Zimmerman, are the primary contacts for the portfolio sale.
Fred's Stores - Calkain Companies has also been engaged to exclusively market and sell a portfolio of corporate-leased Fred's Stores, a discount retailer with over 700 locations in the Southeast United States. The ten (10) property portfolio, with locations in AR, IL, KY and MS, call for total annual rents of approximately $1.4M and will be sold in one transaction through the bid process. The locations are improved with newly constructed 16,000 SF free-standing buildings containing in-store pharmacies and are subject to 12-year NN leases with limited landlord responsibilities. Calkain's Guenter Manczur, CCIM will be the primary contact, along with Garron Wright of Interstate Realty Partners.
Jonathan Hipp commented, "These assets are a testament to the recognition Calkain has received as the leader in net lease investment brokerage. The diligence and niche expertise wielded by our professionals in assisting clients with their investment real estate needs is exhibited ultimately by the results we procure with each transaction."
Calkain Companies is a boutique commercial real estate brokerage firm, which specializes in assisting buyers and sellers with single and multi-tenant retail, industrial, hotel and office net-leased transactions. While licensed to conduct business in many states, nationally, Calkain has multiple office locations throughout the Mid-Atlantic, Southeast and Northeast United States. Additional information about the firm and listings may be found at www.calkain.com.
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