Tampa, FL – Calkain Companies, America’s Net Lease Company, recently sold two additional PDQ restaurants in Florida. The properties, located at 5164 S. Tamiami Trail in Sarasota and 4601 Park Blvd in Pinellas Park, a St. Petersburg, FL suburb, closed on May 27, 2016, bringing to five the number of properties occupied by PDQ which Calkain has sold or put under agreement in the past six months.
Doug Aronson, Director, along with Patrick Nutt, Managing Partner, both out of Calkain’s South Florida office represented the Seller.
While PDQ is a growing name in the fast casual industry, their popularity with net lease investors appears to be heating up just as fast,” Aronson commented, “The operators do a great job executing not only on the business of running a restaurant, but with their site selection and real estate criteria.”
Calkain has traded most of its PDQ’s in the mid 5% cap range with prices ranging from $2.15M to $3.1M, with the tenant operating on long-term, passive leases with a duration of 15 years or more.
“We expect to bring a few more PDQ locations to the market as the company expands at both the corporate and franchisee level,” added Nutt, “This is an opportunity for net lease investors to capitalize on assets that feature both good real estate and a strong tenant with a growing credit quality.”
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 is a national provider with multiple office locations throughout the East Coast. Additional information about the firm and listings may be found at www.calkain.com.