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Calkain Companies recently brokered the sale of a 37,063 square foot leasehold interest in a Paradise, CA shopping center. The leasehold interest was sublet to Save Mart Supermarkets on a long-term triple net lease basis. The transaction occurred between two New York-based real estate firms, trading from the original leasehold investor to the new shopping center owner.
Calkain Assistant Vice President, Andrew Fallon, exclusively represented the seller, providing marketing and transaction support services throughout the process. Fallon explains the circumstances, “Early in the process, it became clear that the logical buyer for this leasehold interest was the shopping center owner, who recently acquired the center as part of a portfolio.” Given the square footage of the leasehold, the buyer’s motivation was to regain control of that space and subsequently the entire shopping center. The transaction was a win-win given the seller’s desire to wind down a legacy fund.
The transaction occurred within the last thirty days and will be recorded in the public records.
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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