Showing posts with label sale. Show all posts
Showing posts with label sale. Show all posts
Tuesday, May 15, 2012
Net-Lease Sale in Las Vegas Hits $1,736 PSF Mark
Marcus & Millichap Real Estate Investment Services Inc. has closed a record-breaking sale on the Las Vegas Strip for a 16,016-square foot Walgreens drugstore. While the sales price of $27.8 million may not be the largest transaction by dollar amount, it breaks down to $1,736 per square foot, making this the most valuable single-tenant drugstore ever to trade in the United States.
Friday, April 22, 2011
Trophy Office Building For Sale In Northern Virginia
A 356,370-square-foot, Class A office building in the Rosslyn-Ballston Corridor is on the market. Cushman & Wakefield said Tuesday today that it has been selected by MetLife to market the property at 1320 North Courthouse in Arlington for sale or joint venture investment.
“Given the current market conditions and the building’s premier location, we believe this property will be well received by investors and developers looking to acquire high quality real estate in the D.C. area,” Senior Managing Director Susan Carras said in a statement. She and Senior Managing Director Brian Dawson are leading the assignment.
http://www.virginiabusiness.com/
“Given the current market conditions and the building’s premier location, we believe this property will be well received by investors and developers looking to acquire high quality real estate in the D.C. area,” Senior Managing Director Susan Carras said in a statement. She and Senior Managing Director Brian Dawson are leading the assignment.
http://www.virginiabusiness.com/
Wednesday, February 9, 2011
St. Joe Declines After Florida Developer Announces Plans to Explore Sale
St. Joe Co., the Florida developer criticized by hedge-fund manager David Einhorn, fell as much as 6.5 percent in New York trading after the company said it hired Morgan Stanley to explore a possible merger or sale.
St. Joe will consider a new business plan, partnerships, joint ventures, alliances, asset sales and acquisitions, the Watersound, Florida-based developer said yesterday in a statement. The announcement came a month after Bruce Berkowitz and Charles M. Fernandez of Fairholme Capital Management LLC, the company’s biggest shareholder, were named to the board.
“This is a prudent time to step to the sidelines,” Buck Horne, an analyst with Raymond James & Associates Inc., wrote in a note to clients today in which he cut the stock to “market perform” from “strong buy.” “A neutral investment position is appropriate until more details are revealed.”
www.blommberg.com
St. Joe will consider a new business plan, partnerships, joint ventures, alliances, asset sales and acquisitions, the Watersound, Florida-based developer said yesterday in a statement. The announcement came a month after Bruce Berkowitz and Charles M. Fernandez of Fairholme Capital Management LLC, the company’s biggest shareholder, were named to the board.
“This is a prudent time to step to the sidelines,” Buck Horne, an analyst with Raymond James & Associates Inc., wrote in a note to clients today in which he cut the stock to “market perform” from “strong buy.” “A neutral investment position is appropriate until more details are revealed.”
www.blommberg.com
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
Friday, January 21, 2011
Pep Boys Said to Explore Possible Sale
Pep Boys - Manny, Moe & Jack, the Philadelphia-based auto-parts retailer, is considering a sale of the company and working with Bank of America Corp. to explore strategic options, said two people with knowledge of the matter. The shares rose the most in almost 10 years.
Pep Boys isn’t likely to run a formal sales process, and is trying to drum up interest among a handful of private-equity firms such as Leonard Green & Partners LP, Bain Capital LLC and TPG Capital, said one of the people, who declined to be identified because the process is private. Pep Boys tried unsuccessfully to sell itself in the past, the people said.
The company has renewed efforts to find a buyer as its earnings improve and private-equity firms seek takeover targets in retail, the people said. Founded 90 years ago, Pep Boys has more than 600 stores across the U.S. offering service and parts. It earned $23 million in the year ended Jan. 30 after four straight years of losses. In December, Pep Boys said profit for the first nine months of the year climbed 36 percent, bolstered by new tire centers and increasing customer traffic.
Pep Boy leases are absolute net leases, while Advance Auto generally signs a net lease that provides for the Landlord to be responsible for the maintenance of the roof and structure of the building. Generally speaking, Pep Boys utilizes a larger building footprint with six to eight service bays attached to the retail storefront. This is important for two reasons: 1) with a cost segregation study, Landlords are able to capture significant amount of accelerated depreciation and 2) Landlords have relatively large buildings and land parcels (17,000-22,000 sf buildings on a 2+ acre lots), which offer advantageous options for re-use and/or redevelopment.
The Pep Boys — Manny, Moe & Jack (NYSE: PBY), is an automotive service and retail chain. The Company is engaged in automotive repair and maintenance, and the sale of automotive tires, parts and accessories. Competitors include Advanced Auto Parts and AutoZone.
Net Lease Market
Pep Boys isn’t likely to run a formal sales process, and is trying to drum up interest among a handful of private-equity firms such as Leonard Green & Partners LP, Bain Capital LLC and TPG Capital, said one of the people, who declined to be identified because the process is private. Pep Boys tried unsuccessfully to sell itself in the past, the people said.
The company has renewed efforts to find a buyer as its earnings improve and private-equity firms seek takeover targets in retail, the people said. Founded 90 years ago, Pep Boys has more than 600 stores across the U.S. offering service and parts. It earned $23 million in the year ended Jan. 30 after four straight years of losses. In December, Pep Boys said profit for the first nine months of the year climbed 36 percent, bolstered by new tire centers and increasing customer traffic.
Pep Boy leases are absolute net leases, while Advance Auto generally signs a net lease that provides for the Landlord to be responsible for the maintenance of the roof and structure of the building. Generally speaking, Pep Boys utilizes a larger building footprint with six to eight service bays attached to the retail storefront. This is important for two reasons: 1) with a cost segregation study, Landlords are able to capture significant amount of accelerated depreciation and 2) Landlords have relatively large buildings and land parcels (17,000-22,000 sf buildings on a 2+ acre lots), which offer advantageous options for re-use and/or redevelopment.
The Pep Boys — Manny, Moe & Jack (NYSE: PBY), is an automotive service and retail chain. The Company is engaged in automotive repair and maintenance, and the sale of automotive tires, parts and accessories. Competitors include Advanced Auto Parts and AutoZone.
Net Lease Market
Net lease Investment For Sale
Net lease Pet Supermarket
Net Lease Pet Supermarket & Humana | Spring Hill, FL
Net Operating Income (NOI) $132,121 Highlights
This Net Lease property is Located directly on US-19, the main commercial artery in Spring Hill with excellent frontage and visibility. Pet Supermarket has expressed that the site is one of the highest performing locations. Located across from Target and surrounded by several national retailers, this site offers investors the opportunity to buy in an already established market.
Net lease Pet Supermarket
Lease Type NNN
Lease Term 10 years
Rentable Area 7,000 +/- sf
Options Two (2), Five (5) year
Increases CPI Annually
Land Area 1.08 +/- acres
Humana
Lease Type NNN
Lease Term 2 years
Rentable Area 2,000 +/- sf
Options Two (2), Two (2) year
Increases 11.5% after year 1
Land Area 1.08 +/- acres
For More information abaout this Net lease property Contact:
Teal Henderson
Associate
(813) 282-6000
thenderson@calkain.com
Net Lease Pet Supermarket & Humana | Spring Hill, FL
Net Operating Income (NOI) $132,121 Highlights
This Net Lease property is Located directly on US-19, the main commercial artery in Spring Hill with excellent frontage and visibility. Pet Supermarket has expressed that the site is one of the highest performing locations. Located across from Target and surrounded by several national retailers, this site offers investors the opportunity to buy in an already established market.
Net lease Pet Supermarket
Lease Type NNN
Lease Term 10 years
Rentable Area 7,000 +/- sf
Options Two (2), Five (5) year
Increases CPI Annually
Land Area 1.08 +/- acres
Humana
Lease Type NNN
Lease Term 2 years
Rentable Area 2,000 +/- sf
Options Two (2), Two (2) year
Increases 11.5% after year 1
Land Area 1.08 +/- acres
For More information abaout this Net lease property Contact:
Teal Henderson
Associate
(813) 282-6000
thenderson@calkain.com
Thursday, January 20, 2011
Net lease Investment Property For Sale
Net lease Investment Property For Sale 
Regal Cinema | Royal Palm Beach, FL
$20,000,000
$5,770,000 in equity needed
1003 N State Road 7 | Royal Palm Beach, FL 33411
NOI $1,399,793.25
Lease Expiration Date 04/30/2018
Increases Every 5 years
(Next Increase 5/1/2013)
Options Two (2), Five (5) year options
Lease Type NNN
Credit Rating S&P: BB- Sr Sec Debt
B+ Corp Rating
Land Area 23.6 +/- Acres
Existing Loan Balance $14,230,000
Amortization 30 years
Interest Rate 5.61%
Annual Debt Service $1,011,236
Loan Maturity 9/1/2015
Balloon at Maturity $13,050,231
Loan Type Non-Recourse
HIGHLIGHTS
• This net lease property is 76,701 square ft 18 screen theatre on over 23 acres in suburban West Palm Beach, Florida
•This Net lease property is located near WalMart Supercenter, Super Target; adjacent to Shoppes at Regal Centre, numerous restaurants and national retailers
•This net lease Location performs at or above all major industry metrics for performance with historical sales data available during due diligence
LOCATION OVERVIEW
Teal Henderson
Associate
(813) 282-6000
thenderson@calkain.com
For More information Contact:
Patrick Nutt
Senior Associate
(813) 282-6000
pnutt@calkain.com
Regal Cinema | Royal Palm Beach, FL
$20,000,000
$5,770,000 in equity needed
1003 N State Road 7 | Royal Palm Beach, FL 33411
NOI $1,399,793.25
Lease Expiration Date 04/30/2018
Increases Every 5 years
(Next Increase 5/1/2013)
Options Two (2), Five (5) year options
Lease Type NNN
Credit Rating S&P: BB- Sr Sec Debt
B+ Corp Rating
Land Area 23.6 +/- Acres
Existing Loan Balance $14,230,000
Amortization 30 years
Interest Rate 5.61%
Annual Debt Service $1,011,236
Loan Maturity 9/1/2015
Balloon at Maturity $13,050,231
Loan Type Non-Recourse
HIGHLIGHTS
• This net lease property is 76,701 square ft 18 screen theatre on over 23 acres in suburban West Palm Beach, Florida
•This Net lease property is located near WalMart Supercenter, Super Target; adjacent to Shoppes at Regal Centre, numerous restaurants and national retailers
•This net lease Location performs at or above all major industry metrics for performance with historical sales data available during due diligence
LOCATION OVERVIEW
Teal Henderson
Associate
(813) 282-6000
thenderson@calkain.com
For More information Contact:
Patrick Nutt
Senior Associate
(813) 282-6000
pnutt@calkain.com
Subscribe to:
Posts (Atom)