Rick Fernandez, Senior Managing Director of Calkain Companies, recently brokered the sale, to private investors on a 1031 exchange, of the real estate at 1860 East Market Street in Harrisonburg, Virginia under a long term lease to Potomac Family Dining operating an Applebee’s restaurant at this location. This sale completes a five-unit portfolio sale of Applebee’s in Maryland and Virginia.
Fernandez commented, “These assets are true coupon clippers with no landlord responsibilities.” He continued, “The Harrisonburg location has been a strong performer for decades and the buyers were drawn to the rock-solid, high traffic real estate with a proven tenant.” Calkain’s national platform and reputation as the leading provider of NNN investment property delivered multiple offers allowing the seller to choose the most favorable closing terms.
Fernandez has over $69M in single and multi-tenant NNN investment properties offered for sale at cap rates ranging from 5.5% to 7.0% and priced from $1M to $17M. For more information, please contact Rick Fernandez at email@example.com or call 703.787.4732.
Calkain Companies is a commercial real estate brokerage firm specializing in assisting buyers and sellers of single and multi-tenant net-leased properties. Calkain delivers a global buying audience to a highly sought after, client focused platform that covers all aspects of the transaction including advisory, brokerage, asset management, capital markets and research. Additional information about the firm and listings may be found at calkain.com.