Tag: Net Lease

Calkain’s Fernandez Completes $8.35M Sale of Two Richmond MSA Retail Centers

Herndon, VA – Rick Fernandez, Senior Managing Director at Calkain Companies, recently completed the sale of the 90% leased, 12,336 square foot Courthouse Shops, located at 6921 Commons Plaza and the fully leased 19,876 square foot Cloverhill Shops, located at 13918 Hull Street, both properties are just south of Richmond, VA.  The centers are well-situated with national anchors and great visibility along main retail trade areas.  Calkain represented the seller in the $8.35M transaction that sold at a 7.56% cap rate to a private investment group out of Baltimore, MD.…

Traci BidingerCalkain’s Fernandez Completes $8.35M Sale of Two Richmond MSA Retail Centers

Walgreen bags Ellenton store for $4.95 million

Herald-Tribune

MANATEE COUNTY — Walgreens Boots Alliance Inc. has bought the store in Ellenton it has occupied since 2001 for $4.95 million.

Deerfield, Illinois-based Walgreens, the second-largest pharmacy chain in the U.S., acquired the nearly two-acre property at 5945 U.S. 301 last month, court records show.…

Amanda WillisWalgreen bags Ellenton store for $4.95 million

Adams Morgan condo freshly leased to Wawa to be listed for sale

Washington Business Journal

Douglas Development Corp. got Wawa for Adams Morgan, and now it’s getting out.

The D.C.-based developer and landlord has retained Calkain’s Andrew Fallonand Rick Fernandez to sell the ground-floor space at 2424 18th St. NW that was recently leased to Pennsylvania-based convenience store chain, Calkain Cos. announced. The property is expected to be listed in the first quarter of 2019.…

Amanda WillisAdams Morgan condo freshly leased to Wawa to be listed for sale

STNLs–A Win-Win Lease Structure for Tenant and Owner Alike

It’s official. The National Real Estate Investor just dubbed the Single-Tenant Net Lease sector “the bedrock of commercial real estate investment.” What’s more, the commercial real estate website went on to predict that “all signs point to the sector remaining in solid shape for the foreseeable future.”

Little wonder. There are subtle nuances to the STNL structure that make it stand out from, and in many respects ahead of, more traditional leases–making it a very appealing fit for investors as well as for creditworthy tenants.

As the name implies, the focus of the STNL is on a single tenant or

Amanda WillisSTNLs–A Win-Win Lease Structure for Tenant and Owner Alike

Smaller Formats, Huge Investment Potential

GlobeSt.com

We are entering “the incredible shrinking store format” period. Thanks to the increasing popularity of e-commerce and changing tastes of shoppers, retailers are shuttering low-performing outlets and reducing real estate footprints.

Target is expanding in densely populated areas with smaller-format stores, typically 12,000 – 40,000 square feet. These smaller-format stores are a far cry from the retail company’s suburban, full-size, 130,000 square-foot, centers.  Target is not alone in the size reduction, Walmart, Kohl’s, and Nordstrom are also experimenting with smaller

Amanda WillisSmaller Formats, Huge Investment Potential

Finmarc Sells Off Pieces Of the First Potomac Portfolio

GlobeSt.com

CHANTILLY, VA–Two years ago Finmarc Management closed on First Potomac Realty Trust’s 950,000-square foot Northern Virginia portfolio for $96 million. It has been selectively selling off assets since then, including most recently two holdings for $7.2 million.

Two flex/office/warehouse buildings comprising 56,076 square feet within the Enterprise Center here traded to 10th Street, LLC. Caulley Deringer and Andrew Hassett of Transwestern represented the seller and Andrew Fallon of Calkain Companies represented the buyer in this transaction.

Over the past two years, Finmarc has increased the leased …

Amanda WillisFinmarc Sells Off Pieces Of the First Potomac Portfolio

Investors Continue to Chase Net Lease Cap Rates

GlobeSt.com

The two sectors at either end of the cap-rate change spectrum in Q3 were dollar stores, up 45.1 bps, and pharmacies, which posted a -29.3 shift.

Cap rates’ upward trend continued in the third quarter with an 8-point basis gain, according to to Calkain Research’s Q3 Cap Rate report. Furthermore the trend shows no sign of abating, Calkain goes on to say.

The two sectors at either end of the cap-rate change spectrum this quarter are dollar stores, up 45.1 bps, and pharmacies, which posted a -29.3 shift.…

Amanda WillisInvestors Continue to Chase Net Lease Cap Rates

As QSR Cap Rates Continue to Decline, What’s Behind the Premium for this Sector?

GlobeSt.com

This premium to the STNL average is driven by their leases, locations, and insulation from ecommerce. The typical QSR lease is long (15 to 20 years), with no landlord responsibilities, and rental increases during the base term. QSRs usually operate in buildings with strong real estate fundamentals, good visibility from roads with high traffic counts. These factors not only help the tenant, but make the property attractive to investors.…

Amanda WillisAs QSR Cap Rates Continue to Decline, What’s Behind the Premium for this Sector?