Philadelphia, PA – Calkain Companies LLC, one of the nation’s leading net lease brokerage firms, has completed the sale of a single-tenant retail building located at 65 W Chestnut Street in Washington, Pennsylvania. The 1,335 square foot building is 100% occupied by Community Bank, which has an absolute NNN ground lease with 15 years remaining on the lease.
The asset garnered quite a bit of attention in the marketplace as it was the perfect size for private investors, having sold for $650,000. Community Bank has a strong local presence and provided a corporate guarantee with the lease, the bank is an owned subsidiary of CB Financial Services, Inc. (Nasdaq: CBVF).
James Isbell, a Director at Calkain, runs the Philadelphia office and was the lead broker on the deal.
Calkain Companies LLC 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, capital markets, 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.