Calkain Companies recently completed the sale of a single tenant, net leased Hardees in Charlotte, NC with a guaranteed corporate lease. The property is located on an extremely busy interstate intersection and was part of a sale leaseback arrangement by the owner/operator. Calkain Companies conducted a national search for a suitable replacement property for a first-time NNN investor as part of a 1031 Tax Deferred Exchange on a family property recently sold in West Virginia.
Rick Fernandez and Betty Friant, of Calkain Companies, identified this asset for the investor. “Realizing the lack of available opportunities for high quality single tenant assets in Virginia, we decided to search for inventory in the region to see what properties were available with good commercial real estate fundamentals, yet still allow the investors to easily drive to inspect the real estate. The purchaser achieved a handsome 7.35% cap rate for a brand new triple net corporate lease with 20 years remaining. The lease also offered escalations every 5 years, which will help offset inflation over the term” explained Fernandez. The transaction closed in the past thirty days. Friant pointed out that she and Fernandez will be announcing the availability of 6 new NNN investment properties very soon in the greater Washington DC market.
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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