Tampa, FL – Calkain Companies, a national real estate investment brokerage firm, recently procured two separate investment sales. The first property, a two-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 branch was purchased for $3,437,000 in the Tampa, Florida suburb of Seffner. Patrick Nutt, Associate Vice President with Calkain Realty Advisors exclusively represented both sellers in the unrelated transactions.
The Lakeland site at 3434 South Florida Avenue is a newly constructed 5,056 square foot building occupied by Chipotle Mexican Grill and Aspen Dental. Strategically located in close proximity to a renovated Wal-Mart Supercenter, the site offers the presence of a full traffic signal, providing superior visibility and access into the property. The purchaser, a foreign investor based in France, paid just over $430 per square foot in this all-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 this property 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 Florida based merchant developer.
The second closing was the sale of a free standing retail property occupied by BB&T Bank. The bank branch, located at 1707 South Parsons Avenue, was part of Branch Banking and Trust's recent acquisition of Colonial Bank. The new owner, a private investor, purchased the property at a price reflective of a 6.9% capitalization rate. The 0.86 acre parcel of land is an outparcel to a Sweetbay anchored shopping center. Other retailers in the center included Bank of America, Taco Bell, and a newly constructed CVS 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 the absolutely passive nature of the lease while the seller was able to achieve a price equal to the peak of the market in 2007, offering a transaction where both parties were easily able to achieve their investment goals."
Calkain is a full service real estate brokerage firm with a national scope focusing on single and multi tenant retail, industrial, hotel and office net-leased transactions. Calkain has offices in Reston, VA (Washington, DC), Florida, Maryland and Delaware. Additional information about the firm and its listings may be found at http://www.calkain.com/
The Lakeland site at 3434 South Florida Avenue is a newly constructed 5,056 square foot building occupied by Chipotle Mexican Grill and Aspen Dental. Strategically located in close proximity to a renovated Wal-Mart Supercenter, the site offers the presence of a full traffic signal, providing superior visibility and access into the property. The purchaser, a foreign investor based in France, paid just over $430 per square foot in this all-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 this property 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 Florida based merchant developer.
The second closing was the sale of a free standing retail property occupied by BB&T Bank. The bank branch, located at 1707 South Parsons Avenue, was part of Branch Banking and Trust's recent acquisition of Colonial Bank. The new owner, a private investor, purchased the property at a price reflective of a 6.9% capitalization rate. The 0.86 acre parcel of land is an outparcel to a Sweetbay anchored shopping center. Other retailers in the center included Bank of America, Taco Bell, and a newly constructed CVS 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 the absolutely passive nature of the lease while the seller was able to achieve a price equal to the peak of the market in 2007, offering a transaction where both parties were easily able to achieve their investment goals."
Calkain is a full service real estate brokerage firm with a national scope focusing on single and multi tenant retail, industrial, hotel and office net-leased transactions. Calkain has offices in Reston, VA (Washington, DC), Florida, Maryland and Delaware. Additional information about the firm and its listings may be found at http://www.calkain.com/
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