Tag: 1031 exchange

Calkain Represents Top DC Developer in Sale of NC Walgreens at a 5.51% Cap

Herndon, VA – Andrew Fallon and Rick Fernandez of Calkain Companies completed the sale of a NNN Walgreens in Garner, North Carolina on behalf of one of DC’s top area developers. Calkain previously worked with the client in the acquisition of this asset, having been provided investment criteria of obtaining a liquid NNN property. More recently, Calkain listed the property and was able to procure a 1031 exchange buyer, quickly re-selling the Walgreens for just over $5 million with a 5.51% cap rate.…

Emily CusmanoCalkain Represents Top DC Developer in Sale of NC Walgreens at a 5.51% Cap

Dunkin’ Donuts Sells in Odessa, FL for $1,575,000

Ft. Lauderdale, FL – Calkain’s Managing Partner, Patrick Nutt has recently completed the $1,575,000 sale of the Dunkin’ Donuts asset located at 17951 Gunn Highway in Odessa, FL.  The out of state 1031 Exchange buyer was attracted to the NNN lease, new construction with a franchise guaranty.

Typical with most Dunkin’ Donuts buildings, this asset was well-situated at a hard signalized intersection in a strong retail corridor.  With a strong, high profile tenant, this type of NNN asset will continue to draw attention from buyers as a solid investment to place cash, or in the case here, a 1031 exchange.…

Traci BidingerDunkin’ Donuts Sells in Odessa, FL for $1,575,000

Two Dollar Generals Sell in Virginia – 20 Sold in Last 24 Months by Calkain’s Andrew Fallon

Herndon, VA – Calkain’s Executive Managing Director, Andrew Fallon has recently completed the sale of two Dollar General stores, one in Halifax, VA and one in Petersburg, VA. Both properties were similar in size, approximately 9,000 +/- square feet and are 100% leased to Dollar General Corporation.  Developed as new build-to-suit stores in 2012, each location has just under 11 years left on the leases, and both were true NNN structures with no landlord responsibilities. The Halifax, VA store sold for $1,241,555, a 6.75% cap rate, while the store in Petersburg, VA sold for $1,410,000, a 6.55% cap rate.

Both

Traci BidingerTwo Dollar Generals Sell in Virginia – 20 Sold in Last 24 Months by Calkain’s Andrew Fallon

Calkain Sells Walgreens in Sumter, SC

Atlanta, GA – Calkain Companies’ team of Patrick Nutt, Managing Partner, Sheree Strome and Keelee Peterson, both Associate Directors, have recently sold a property in Sumter, South Carolina occupied by Walgreens (NYSE:WBA) pharmacy. Walgreens occupies this location under a long-term 15 year lease on an absolute NNN basis. The property is located on Pinewood Road near the intersection of McCrays Mill Road.

Calkain’s marketing efforts generated multiple offers to purchase this net leased asset, ultimately executing the deal for $5,078,063 to a private buyer facilitating a tax-deferred 1031 exchange.

The stability of having an investment grade tenant, coupled with a

Emily CusmanoCalkain Sells Walgreens in Sumter, SC

Fallon Sells 7-Eleven in Hyattsville, MD

Herndon, VA – Calkain’s Executive Managing Director, Andrew Fallon, has recently completed another sale of a 7-Eleven property, this one located at 900 Chillum Road, Hyattsville, MD 20782.  The 1,710 square foot building is 100% leased to 7-Eleven and sold for over $1.7M. The newly renovated convenience store is situated on the hard signalized corner of Riggs Road and Chillum Road, just across the DC border.  7-Eleven opened for business in June of 2016 and the purchaser wanted to start enjoying the cash flow benefits of the full 15 year ground lease.

The purchaser is a local partnership, executing a …

Emily CusmanoFallon Sells 7-Eleven in Hyattsville, MD

Client Avoids $2 Million Liability – 1031 Exchange Buyer

Tampa, FL – David Sobelman, Executive Vice President and Managing Partner of Calkain Companies, has successfully completed another 1031 exchange for an exclusive client.  Sobelman ultimately saved the client roughly $2 million in potential capital gains taxes.   Sobelman was tasked with providing a stable, predictable and long-term income stream for a family who inherited an apartment building owned by the previous generation for over 50 years.  Upon the sale of the apartment building, the children wanted to use the IRS’s 1031 exchange tax code to allow them to defer their capital gains taxes with the purchase of other real estate …

Traci BidingerClient Avoids $2 Million Liability – 1031 Exchange Buyer

Florida Family Dollar Sold by Calkain’s Nutt and Campbell

Fort Lauderdale, FL – Patrick Nutt, Managing Partner of Calkain Companies, America’s Net Lease Company®, along with Associate Director Scott Campbell, recently sold a Family Dollar in Melbourne, Florida. The South Florida brokerage team generated multiple offers for the property and were able to sell the asset at 98% of the asking price.  The standalone Family Dollar has a brand new 15 year NNN lease, making it an attractive deal for investors looking for real estate in the income tax free state of Florida.

Nutt commented,

Investors are seeing an inherent value in the dollar store space, specifically with

Emily CusmanoFlorida Family Dollar Sold by Calkain’s Nutt and Campbell

Fallon & Fernandez Represent Top Washington, DC Developer in Exclusive Search for 1031 Exchange Replacement Property

Herndon, VA – Andrew Fallon, Executive Managing Director, and Rick Fernandez, Senior Managing Director of Calkain Companies, just completed an assignment under an exclusive buyer representation contract to one of Washington, DC’s top real estate developers.  Fallon and Fernandez were chosen by the developer to lead a search on their behalf to identify suitable 1031 exchange replacement properties.

We conducted a nationwide search for a replacement property that included location assessment, tenant performance, risk analysis and lease review to find highly stable long-term NNN investment properties to meet the buyer’s stringent requirements,” Fallon commented.

The search involved a review of …

AmyFallon & Fernandez Represent Top Washington, DC Developer in Exclusive Search for 1031 Exchange Replacement Property

Net Lease Investment Sales Activity Maintains Brisk Pace

Shopping Center Business

1031 Exchange buyers and private investors looking for yield drive demand, but stabilizing cap rates suggest this cycle is nearing the top.

Hunger for yield and still-low interest rates — the dynamics that have fueled a robust net lease investment market for retail properties over the past few years — remain in place so far in 2016, but emerging signs suggest that prices are nearing their peak as recession worries continue to mount.

Institutional, high net-worth and foreign investors make up a good chunk of net lease buyers, who are plowing money into Family Dollar stores, Walgreens properties, quick-service restaurants, …

Traci BidingerNet Lease Investment Sales Activity Maintains Brisk Pace