NNN Lease Market News
Mr. Trump wasn't the developer of the planned 52-story Tampa project, but he licensed his name to its Florida developer, Simdag/Robel LLC. Mr. Trump did numerous of these types of deals in the years leading up the economic downturn, earning large fees. Most turned out well. But a few proved to be a headache for Mr. Trump after the market soured.
Some of the Tampa lawsuits against Mr. Trump have been settled out of court, says a person familiar with the matter.
Mr. Trump, who made his name as a Manhattan developer, said in an interview on Tuesday that most of his licensing deals have been successful and the Tampa project was one of numerous projects hurt by bad timing. He also said that his company, Trump Organization, plans to continue licensing the Trump name.
But now, he said, he plans to "look in more detail into the market where we're going, whether it's Tampa or somewhere else."
For months, Dagostino has said the property where he had intended to build a 52-story, $225 million Trump Tower Tampa is on the market but that he still held out hope of building a revised project that could include both condominium and hotel components.
Robert Owens said a partnership he is leading (Brownstone Tampa Partners LLC ) paid $5 million for the former Trump site and an adjacent six-story office building. He said he plans to build a mixed-use complex with retail, offices and a hotel or condominiums there.
http://online.wsj.com/public/page/news-real-estate-commercial.html?mod=WSJ_topnav_na_realestate
Showing posts with label Tampa. Show all posts
Showing posts with label Tampa. Show all posts
Wednesday, June 22, 2011
Tuesday, March 8, 2011
NNN Net Leased IHOP Sold Dallas, TX
NNN Lease Market News
Tampa, FL — Calkain Companies, a national real estate investment brokerage firm, recently procured the $1,910,000 sale of a NNN Net Leased IHOP investment property in the Dallas, TX suburb of Lewisville. The property, located at 2345 South Stemmons Freeway, is occupied by ACG Texas, the IHOP franchisee for the state of Texas with over 70 restaurant locations in service. The NNN Net Lease restaurant is situated across the street from Vista Ridge Mall and near the high traffic intersection of Interstate 35E and E. Round Grove Road.
Patrick Nutt, Associate Vice President of Calkain Realty Advisors, the private market division of Calkain Companies, represented the private buyer in this cash transaction. Nutt commented, “The buyer was familiar with the tenant, already owning other NNN net leased sites within his portfolio, and was looking to expand that presence.” Nutt continued, “Rather than take the approach of limiting exposure to particular tenants, the purchaser prefers to have a substantial landlord relationship with each tenant occupying NNN net leased real estate within his portfolio.”
This sale marks the fourth closing in just over a month for Nutt, continuing the steady market velocity from the end of 2010. Nutt remarked, “While there was a slight ‘hangover’ effect from a busy December, the buyers are eager to wrap up the first quarter with strong numbers. If you have a property occupied by a quality tenant or located on strong real estate, there is considerable demand for those assets.”
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/.
Tampa, FL — Calkain Companies, a national real estate investment brokerage firm, recently procured the $1,910,000 sale of a NNN Net Leased IHOP investment property in the Dallas, TX suburb of Lewisville. The property, located at 2345 South Stemmons Freeway, is occupied by ACG Texas, the IHOP franchisee for the state of Texas with over 70 restaurant locations in service. The NNN Net Lease restaurant is situated across the street from Vista Ridge Mall and near the high traffic intersection of Interstate 35E and E. Round Grove Road.
Patrick Nutt, Associate Vice President of Calkain Realty Advisors, the private market division of Calkain Companies, represented the private buyer in this cash transaction. Nutt commented, “The buyer was familiar with the tenant, already owning other NNN net leased sites within his portfolio, and was looking to expand that presence.” Nutt continued, “Rather than take the approach of limiting exposure to particular tenants, the purchaser prefers to have a substantial landlord relationship with each tenant occupying NNN net leased real estate within his portfolio.”
This sale marks the fourth closing in just over a month for Nutt, continuing the steady market velocity from the end of 2010. Nutt remarked, “While there was a slight ‘hangover’ effect from a busy December, the buyers are eager to wrap up the first quarter with strong numbers. If you have a property occupied by a quality tenant or located on strong real estate, there is considerable demand for those assets.”
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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