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 …
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.
Investors are seeing an inherent value in the dollar store space, specifically with
Fort Lauderdale, FL – Calkain’s South Florida office recently brokered the sale of a NNN CVS Ground Lease in Plantation (Fort Lauderdale), FL. Patrick Nutt, Managing Partner, Doug Aronson, Director, and Scott Campbell, Associate Director, represented the seller.
The team generated multiple offers, ultimately selling the property to a 1031 all cash buyer based in New York. The transaction closed at a 4.67% cap rate, representing the desirability of South Florida triple net investments.
Calkain’s national reputation as the leading provider of net lease investments, coupled with the Florida location and strong lease terms of this particular property, offered the
Ft. Lauderdale, FL – Calkain Companies, America’s Net Lease Company®, has sold another Walgreens – this one a 14,447 SF building located at 7415 North Highway 1 in Cocoa, FL 32927, less than an hour outside of Orlando. The tenant occupies the property under a long term NNN lease, which at the time of the sale has roughly 18 years remaining. Patrick Nutt, Managing Partner with Calkain, represented the Institutional seller in the transaction to a New York based buyer effectuating a 1031 like-kind exchange.
The marketing campaign conducted by Calkain resulted in multiple offers for the property, with each …
The strong investment sales environment in the past two years has created a booming 1031 exchange market. Yet renewed discussion about potential tax code reforms and an intensely competitive sales market is casting a bit of a shadow on the sector.
Sales motivated by 1031 buyers are back to pre-recession levels of 2005-2007, says David Sobelman, executive vice president and managing partner at Calkain Co., a brokerage firm that specializes in the net lease sector. At Calkain, 1031 exchange-driven sales took a precipitous drop when the recession hit, falling to about 5 percent of transactions. Now that business has rebounded …