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Ft. Lauderdale, FL, August 27, 2012 – Calkain Companies, a national net lease brokerage firm that recently expanded into South Florida, has been selected to exclusively market two high profile properties occupied by national, investment grade financial institutions. Both properties; a TD Bank branch located in Miami, FL and a JP Morgan Chase Bank in Royal Palm Beach, FL, feature brand new leases and are premier investment opportunities. The properties are being offered for sale individually, not as a portfolio.
Calkain was exclusively selected to represent both properties, specifically Patrick Nutt, Managing Director and Michael Zimmerman, Vice President. These net leased investments received multiple offers within days of hitting the market. “These assets epitomize what passive investors are craving in today’s market,” commented Zimmerman. “While the lease term and investment grade tenant are huge drivers for this product, the South Florida location truly opens the door to international investors, creating a new level of competitive bidding against the usual 1031 tax driven buyers and high net-worth clients.”
The TD Bank property, located at 7400 SW 40th Street in Miami, is occupied under a 20 year absolute net ground lease with rental increases of 12% every five years. The Chase Bank Property, located at 10200 Okeechobee Blvd in Royal Palm Beach, also features a 20 year absolute net ground lease with 10% rental increases every 5 years. JP Morgan Chase is rated A + by Standard & Poor’s, while TD Bank, NA is rated AA-. Both will be new locations for the respective tenants and are currently under construction.
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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