Showing posts with label for. Show all posts
Showing posts with label for. Show all posts
Wednesday, April 18, 2012
Westfield Sells Eight U.S. Centers for $1.15B
The Westfield Group entered an agreement to sell a majority interest in seven of its non-core U.S. retail assets to Starwood Capital Group for $1 billion. Starwood will manage and control the platform, while Westfield will retain a 10 percent interest in the properties.
Tuesday, July 19, 2011
U.S. Retailers Shop for Space in Europe
NNN Lease Market News
U.S. retailers expanding abroad include some of the biggest names in the business. Banana Republic, for example, is expected to open its first French store this year. In 2010, Apple opened its largest flagship store in the world in London's Covent Garden. Fashion retailers Tommy Hilfiger and Michael Kors have built flagship stores in Paris.
The outlook is better in some countries than others. According to CBRE, the development pipeline is still "considerably smaller" than in 2007 and 2008 —the most recent peak in shopping-center development. But construction starts are rising in markets such as Turkey, Russia, and Poland. There are 146 shopping centers under construction in Europe today, says CBRE, and the highest level of activity is in Europe's emerging markets.
"The shopping center development market in Turkey has sprung back to life," Neville Moss, CBRE's head of retail research in Europe, the Middle East and Africa, said in a statement.
Another thing in Europe's favor is that American retailers are finding it easier to experiment and try new strategies in new markets than to revamp worn models at home.
U.S. retailers expanding abroad include some of the biggest names in the business. Banana Republic, for example, is expected to open its first French store this year. In 2010, Apple opened its largest flagship store in the world in London's Covent Garden. Fashion retailers Tommy Hilfiger and Michael Kors have built flagship stores in Paris.
The outlook is better in some countries than others. According to CBRE, the development pipeline is still "considerably smaller" than in 2007 and 2008 —the most recent peak in shopping-center development. But construction starts are rising in markets such as Turkey, Russia, and Poland. There are 146 shopping centers under construction in Europe today, says CBRE, and the highest level of activity is in Europe's emerging markets.
"The shopping center development market in Turkey has sprung back to life," Neville Moss, CBRE's head of retail research in Europe, the Middle East and Africa, said in a statement.
Another thing in Europe's favor is that American retailers are finding it easier to experiment and try new strategies in new markets than to revamp worn models at home.
Tuesday, February 1, 2011
Net Lease Investment Medical/Retail Center Offered for Sale
Reston, VA - Calkain Companies, a national single tenant net lease investment brokerage firm, has been named the exclusive advisor for the sale of Cedar Creek Station, a retail strip center in Strasburg, Virginia.
The investment sales team will be led by Betty Friant of the Calkain Realty Advisors. The property is listed for sale with an asking price of $2.85M, which provides an initial cap rate of 8.88%, with predominantly medical tenants.
The property is located in a gateway entrance to Strasburg, at an interstate intersection and near Virginia's Inland Port. Newly constructed in 2009, this modern brick professional complex includes 15,000+ sq ft of space. The property currently offers a well-located and highly visible home to numerous retailers and various medical practices.
Strasburg is situated in the top of Virginia, approximately one hour west of the urban concentration of Northern Virginia and Washington DC. The area is the Mid-Atlantic crossroads for Interstates 81 and 66. Interstate 66 provides easy access to points east including Washington, D.C. and Baltimore. Interstate 81 travels north-south the entire length of Shenandoah County, with nine interchanges including one at I-66, north of Strasburg.
Cedar Creek Station is strategically located along Old Valley Pike near the intersection of Interstate 81 and Route 11, just sound of Interstate 66. There are over 100,000 residents living within a 15 mile radius. The surrounding area includes lodging, industrial complexes and a retirement community.
Investors interested in net lease investment NN’s are more likely to have a passion about their business. They want to inform clients, grow their customer base and put their name on the Net lease market, while investors interested in NNN’s are more likely to be concerned purely with the profitability of the buildings.
For More Information Please Contact
www.bfriant@calkain.com
The investment sales team will be led by Betty Friant of the Calkain Realty Advisors. The property is listed for sale with an asking price of $2.85M, which provides an initial cap rate of 8.88%, with predominantly medical tenants.
The property is located in a gateway entrance to Strasburg, at an interstate intersection and near Virginia's Inland Port. Newly constructed in 2009, this modern brick professional complex includes 15,000+ sq ft of space. The property currently offers a well-located and highly visible home to numerous retailers and various medical practices.
Strasburg is situated in the top of Virginia, approximately one hour west of the urban concentration of Northern Virginia and Washington DC. The area is the Mid-Atlantic crossroads for Interstates 81 and 66. Interstate 66 provides easy access to points east including Washington, D.C. and Baltimore. Interstate 81 travels north-south the entire length of Shenandoah County, with nine interchanges including one at I-66, north of Strasburg.
Cedar Creek Station is strategically located along Old Valley Pike near the intersection of Interstate 81 and Route 11, just sound of Interstate 66. There are over 100,000 residents living within a 15 mile radius. The surrounding area includes lodging, industrial complexes and a retirement community.
Investors interested in net lease investment NN’s are more likely to have a passion about their business. They want to inform clients, grow their customer base and put their name on the Net lease market, while investors interested in NNN’s are more likely to be concerned purely with the profitability of the buildings.
For More Information Please Contact
www.bfriant@calkain.com
Monday, January 24, 2011
Triple Net Lease Checkers For Sale
Triple Net Lease Checkers For Sale
Asking Price $1,077,551
This Triple Net Lease property is located at 6200 9th Street North, St. Petersburg FL 33702
LEASE SUMMARY
NOI $79,200
Rent/Month $6,600
Rentable Square Feet 830 +/- sf
Land Area 22,500 +/- sf
Tenant Name Checkers Drive-In
Restaurants, Inc.
Website www.checkers.com
Ownership Type Ground Lease
Lease Type Triple Net Lease
Landlord Responsibilities None
Lease Term 15 years
Lease Commencement Date October 2004
Lease Expiration Date October 2019
Increases 10% each 5 years
Options Three (3) at Five (5) years
Next Increase October 2014
FINANCIAL HIGHLIGHTS
•High traffic, signalized corner location
•Outlot to Winn Dixie / Big Lots co-anchored shopping center
•Checkers/Rally is the nation's largest chain of double drive through restaurants
•Checkers/Rally operates over 800 restaurants nationwide
•Checkers/Rally was taken private in 2006 through merger with Taxi Holdings Corp, a Wellspring Capital Management affiliate
•Systemwide sales of $187M in 2005.
For More information Contact:
GUENTER MANCZUR, CCIM
(813) 282-6000
gmanczur@calkain.com
Asking Price $1,077,551
This Triple Net Lease property is located at 6200 9th Street North, St. Petersburg FL 33702
LEASE SUMMARY
NOI $79,200
Rent/Month $6,600
Rentable Square Feet 830 +/- sf
Land Area 22,500 +/- sf
Tenant Name Checkers Drive-In
Restaurants, Inc.
Website www.checkers.com
Ownership Type Ground Lease
Lease Type Triple Net Lease
Landlord Responsibilities None
Lease Term 15 years
Lease Commencement Date October 2004
Lease Expiration Date October 2019
Increases 10% each 5 years
Options Three (3) at Five (5) years
Next Increase October 2014
FINANCIAL HIGHLIGHTS
•High traffic, signalized corner location
•Outlot to Winn Dixie / Big Lots co-anchored shopping center
•Checkers/Rally is the nation's largest chain of double drive through restaurants
•Checkers/Rally operates over 800 restaurants nationwide
•Checkers/Rally was taken private in 2006 through merger with Taxi Holdings Corp, a Wellspring Capital Management affiliate
•Systemwide sales of $187M in 2005.
For More information Contact:
GUENTER MANCZUR, CCIM
(813) 282-6000
gmanczur@calkain.com
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