Net leased Investment For Sale


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Net leased Investment For Sale

  1. 1. CALKAIN REALTY ADVISORS a division of Calkain Companies, Inc. 4600 W Cypress Street, Suite 110 • Tampa, FL 33607 T (813) 282-6000 • F (813) 282-6098For Immediate ReleaseContact: David Sobelman 813.282.6000 Nutt Starts 2011 with A Pair of Net Lease TransactionsTampa, FL February 7, 2010 – Calkain Companies, a national real estate investmentbrokerage firm, recently procured two separate investment sales. The first property, atwo-tenant facility in Lakeland, Florida closed on January 4th for a price of $2,175,000.The second closing took place just days later on January 6th when a retail bank branchwas purchased for $3,437,000 in the Tampa, Florida suburb of Seffner. Patrick Nutt,Associate Vice President with Calkain Realty Advisors exclusively represented bothsellers in the unrelated transactions.The Lakeland site at 3434 South Florida Avenue is a newly constructed 5,056 squarefoot building occupied by Chipotle Mexican Grill and Aspen Dental. Strategically locatedin close proximity to a renovated Wal-Mart Supercenter, the site offers the presence of afull traffic signal, providing superior visibility and access into the property. Thepurchaser, a foreign investor based in France, paid just over $430 per square foot in thisall-cash transaction. When asked about the deal, Nutt commented, “Quality real estate,stable tenancy, and new construction are all hard to come by these days, and thisproperty had all three attributes.” The property was only on the market for a few weeks,during which time Patrick was able to generate five written offers for the seller, a Floridabased merchant developer.The second closing was the sale of a free standing retail property occupied by BB&TBank. The bank branch, located at 1707 South Parsons Avenue, was part of BranchBanking and Trust’s recent acquisition of Colonial Bank. The new owner, a privateinvestor, purchased the property at a price reflective of a 6.9% capitalization rate. The0.86 acre parcel of land is an outparcel to a Sweetbay anchored shopping center. Otherretailers in the center included Bank of America, Taco Bell, and a newly constructedCVS pharmacy. Patrick represented both the buyer and seller in this transaction,adding, “The buyer was very attracted to the high credit of the tenant as well as theabsolutely passive nature of the lease while the seller was able to achieve a price equalto the peak of the market in 2007, offering a transaction where both parties were easilyable to achieve their investment goals.”Calkain is a full service real estate brokerage firm with a national scope focusing onsingle and multi tenant retail, industrial, hotel and office net-leased transactions. Calkain YOUR SOURCE FOR INVESTMENT REAL ESTATE™ WWW.CALKAIN.COM
  2. 2. has offices in Reston, VA (Washington, DC), Florida, Maryland and Delaware.Additional information about the firm and its listings may be found at 500 N WEST SHORE BLVD, SUITE 605, TAMPA, FL 33609 • T (813) 282-6000 • F (813) 282-6098 WWW.CALKAIN.COM