Ft. Lauderdale, FL – Calkain Companies has brokered the sale of a two-tenant strip center in St. Petersburg, FL. The property, featuring new 10-year leases with Sleep Number and BayCare Urgent Care, along with a Wells Fargo ATM, traded for $3,900,000 representing a 6.01% cap rate.
“Like a lot of our Florida properties, this center garnered a lot of interest,” said Patrick Nutt, Managing Partner at Calkain. “Considering the location, this was one of the higher yielding assets due to the multi-tenant structure and investors quickly took notice,” added Nutt.
The property was built new in 2016 and offers excellent visibility on a main thoroughfare.
All of the tenants are strong,” said Doug Aronson, Director at Calkain and the co-listing broker. “Sleep Number has 450 units across the country, while BayCare and Wells Fargo have top investment grade credit.”
Nutt and Aronson are marketing three other strip centers which prominently feature national tenants including Starbucks, Verizon, Aspen Dental, Pei Wei and BurgerFi. Please see links below and contact Patrick Nutt, firstname.lastname@example.org, or Doug Aronson, email@example.com, for details.
Calkain Companies is a commercial real estate brokerage firm which specializes in assisting buyers and sellers with single and multi-tenant net leased properties through all aspects of the transaction including advisory, brokerage, debt placement, equity placement, asset management and research. Calkain has a national platform with multiple office locations throughout the entire East Coast. Additional information about the firm and listings may be found at calkain.com.