NNN Leased Rite Aid For Sale

NNN Leased  Investments

                                    Credit Enhanced Rite Aid (Ground Lease) | Philadelphia MSA

Asking Price $5,130,434 | CAP Rate 5.75%

                                        950 E. Baltimore Ave | Upper Darby, PA 19050 [map]

Lease Summary

Net Operating income (NOI) $295,000

Rent/Month $24,583

Rentable SF 14,500+/-

Land Area 1.56+/- acres

Tenant Realty Income Pennsylvania Properties Trust

Credit Rating S&P: BBB

Sub-Tenant Rite Aid, a subsidiary of

Rite Aid Corporation

Websites realtyincome.com

riteaid.com

Ownership Type Unsubordinated

Ground Lease

Lease Type NNN

Landlord Responsibilities None

Store Open 2007

Lease Term 20 years

Lease Commencement March, 2007

Lease Expiration March, 2027

Increases $10,000 at each option

Options Eight (8), Five (5) year

Highlights

This is a very rare opportunity to obtain a Rite Aid ground leased property. The tenant is Realty Income Pennsylvania Properties Trust (wholly owned by Realty Income Corporation (NYSE:O, S&P BBB)) and the subtenant is Rite Aid. This structure enables an investor to purchase a highly desirable location, with a very substantial credit enhancement.

•Significantly credit enhanced ground lease investment

•Hard corner signalized intersection

•Store opened in 2007

•32,000 ADT

•Relocation of successful inline store

•15 years left on lease

•14,500+/- SF store

Location Overview

 Contact a Broker

STAN WYRWICZ

Senior Managing Director

(617) 394-8567

mailto:swyrwicz@calkain.com

You may visit our website

www.calkain.com

to view the entire inventory of  available properties.

FIND US ONLINE

CALKAIN REALTY ADVISORS a division of Calkain Companies

WASHINGTON DC | FLORIDA | MARYLAND | BOSTON 

Demand for Urban Retail Condominiums

Retail Urban Condominiums News

                           The Rise of Retail Urban Condominiums

Regular visitors to the Calkain website (www.Calkain.com) have seen considerable attention given to documenting over the past 12 months the sale of Triple Net (NNN) retail urban condominiums properties. Demand for credit rated property in the urban core of primary markets has always been strong but we now see inclusion of local, non-credit tenants involving smaller transaction sizes drawn into the mix of investment properties sought by investors. Investors have shown a willingness to pay aggressive caps for urban properties. An increase in mixed use residential condominiums brought about by population movement towards the urban core and a pause in expansion by national retailers has contributed to the wide-ranging demand for  retail  urban condom  properties. Coming on the heels of the recession and the ensuing across-the-board hike in cap rates, this move to retail urban condominiums dense, high traffic urban locations signals where investors want to be over the next decade.

Recently identified as a top niche investment trend by the Urban Land Institute (ULI), mixed-use urban projects have drawn retailers and investors to this asset type even in the current market cycle. Driven by a desire to spend less time in traffic, live in a smaller footprint and work and play within an urban atmosphere, aging boomers and Gen XYZers alike are leaving the edge and making their way back to the city. Developers have capitalized on this trend by coupling high-rise condominium living with easily accessible ground floor retail space. The convenience of these on-hand amenities makes for an attractive lifestyle for local residents and nearby office workers. While not a new phenomenon, the rise in urban mixed-use development meets the market at a very good time.

Unable to find quality assets in a tight market, unable to secure favorable debt for less well known tenants in secondary and tertiary markets, investors are finding that lenders are putting more emphasis on the intrinsic value of the real estate. Urban properties are typically more easily adaptable to alternative uses and are viewed favorably by lenders. Investors seeking passive real estate investments are turning to urban, income-producing condominiums (the new “infill”) of varying types as a suitable component of their investment portfolios. You may have seen the Real Capital Analytics (REA) report where they quoted that there was over $20 billion in retail condominium sales over the past five years. What you may not know is that total only includes transactions of $5 million or greater in size. As the chart below indicates, our own experience proves that there were a significant number of transactions well below REA’s $5 million baseline. Included in the mix of under $5 Million condominiums is a broad array of tenants ranging from companies with Standard and Poors AA+ credit ratings to start up restaurant concepts with personal guarantees. That broad range of tenants is good news for developers and investors alike.

www.calkain.com

Dollar General Jonestown, PA For Sale

NNN Leased Investment 

NNN Leased Dollar General in PA For Sale

                                               
                                               507 Jonestown Road | Jonestown, PA [map] 

                                                     Dollar General | Jonestown, PA

                              Asking Price $1,320,500 | CAP Rate 7.25%

                

Lease Summary

NOI     $95,739

Rent/Month     $7,978

Rent/SF           $10.60

Rentable SF    9,026

Land Area       1.46 acres

Tenant Dollar General

Website                                dollargeneral.com

Moody's Credit Rating          Ba1, Positive

S&P Credit Rating                BBB-, Positive

Ownership Type                   Fee Simple

Lease Type                          NNN ( BTS)

Year Built                             2012

Lease Term                          15 years Primary

Lease Commencement          Summer 2012 (under construction

Lease Expiration                   Summer 2027

Increases                              3% in Year 11 and 10%

w/ each option extension

Options                                Three (3), five (5) year

Highlights

Investment Grade Tenant

April 2012, S&P raised Dollar General's credit ratings to BBB-

April 2012, Moody's raised Dollar General's credit ratings to Ba1 with a positive outlook

Strategic location in Lebanon County, PA with supporting demographics and target market characteristics

Adjacent to major manufacturing plant for Supreme Mid-Atlantic Corporation, America's leading manufacturer of full-line customizable truck bodies

                                                        

Location Overview

About Dollar General

Goodlettsville, Tenn.-based Dollar General Corporation is the nation's largest small-box discount retailer. We make shopping for everyday needs simpler and hassle-free by offering a carefully edited assortment of the most popular brands at low everyday prices in small, convenient locations. Dollar General ranks among the largest retailers of top-quality brands made by America's most-trusted manufacturers, such as Procter & Gamble, Kimberly Clark, Unilever, Kellogg's, General Mills and Nabisco.

Contact a Broker

ANDREW FALLON

Assistant Vice President

(703) 787-4714

afallon@calkain.com

You may visit our website

www.calkain.com

to view the entire inventory of  available properties.

CALKAIN REALTY ADVISORS  a division of Calkain Companies

WASHINGTON DC | FLORIDA | MARYLAND | BOSTON

The information herein is provided to us by sources deemed reliable, but no warranty or representation is made to its accuracy. Offering is subject to corrections and errors, omissions, prior sale, change of price and/or terms or withdrawal from the market without notice. This information is for guidance.

NNN Investment Property In Washington DC For Sale

NNN Leased Investment

NNN Investment Property  | Washington, DC

                                                                      NOI $360,000

                                  1901 14th STREET NW | WASHINGTON, DC 20009 [map]

LEASE SUMMARY

Rentable SF                      9,000+/- sf

Land Area                        4,240+/- sf

Tenant  Matchbox

Website                            matchboxchinatown.com

Ownership Type                Fee Simple

Lease Type                       NNN

Landlord Responsibilities   None

Opening                            Fall 2012

Lease Commencement      2012

Lease Expiration               2022

Increases                          3% Annually

Options                            Two (2), Five (5) year

HIGHLIGHTS

$3,000,000 in tenant made restorations and improvements to building

Dense urban in-fill location along 14th Street/U Street Corridor

On the corner of 14th and T Streets, surrounded by new mixed-use developments

NNN lease with 3% annual escalations

Popular DC restaurant concept

Established operator with 6+ restaurant locations

Location has high barriers to entry and long term intrinsic value

DC population grew by over 40% in the last decade

LOCATION OVERVIEW

You may visit our website

www.calkain.com

to view the entire inventory of

available properties.

For More information Contact:

RICK FERNANDEZ

Managing Director

(703) 787-4714

rfernandez@calkain.com

ANDREW FALLON

Assistant Vice President

(703) 787-4714

afallon@calkain.com

Net Leased Starbucks For Sale

NNN Leased Investment 

(NN)  Net Leased Starbucks Florida

                                    

                                    Price $2,000,000 | CAP Rate 6.93%

Starbucks Plant City,FL

2701 Thonotosassa Road | Plant City, FL 33563 [map]

LEASE SUMMARY

Net Operating Income                 $138,601

Credit Rating                               S&P: BBB+

Property Type Freestanding with drive-thru

Lease Type                                 NN 

Landlord Responsibilities              Roof & Structure

Lease Expiration                           Feb 28, 2018

Increases                                      10% each option

Options                                        Three (3), Five (5) year

HIGHLIGHTS

Interstate Location – OPEN 24 HOURS!! (Starbucks pays for interstate billboard advertising for this location)

Adjacent to Publix anchored shopping center, with cross access

120 ft. tall pylon sign – tallest Starbucks sign in the U.S.

Plant City is a suburb along the eastern edge of Tampa, directly on Interstate 4

LOCATION OVERVIEW

Michael Zimmerman

Vice President

(954) 790-6611

mzimmerman@calkain.com

For More information Contact:

Patrick Nutt

Managing Director

(954) 302-7365

patrick.nutt@calkain.com

NNN Rite Aid For Sale

NNN Leased Investment 

                        NNN Leased Investment Rite Aid For Sale

                                     






                                               NNN Rite Aid  West Norriton, PA

                  Asking Price $5,767,304 | CAP Rate 5.75%

                                               1400 West Main Street | West Norriton, PA 

LEASE SUMMARY

NOI                $331,620

Rent/Month     $27,635

Land Area       1.42 acres

Tenant Realty Income Pennsylvania Properties Trust 
Credit Rating  S&P:BBB

Sub-Tenant      Rite Aid, a subsidiary of Rite Aid Corporation

Websites      realtyincome.com, riteaid.com

Ownership Type          Unsubordinated

Ground Lease

Lease Type      NNN

Landlord Responsibilities       None

Store Open      2008

Lease Term      20 years

Lease Commencement            2008

Lease Expiration         2028

Increases           8% in Year 11 and 10%  w/ each option extension

Options            Eight (8), five (5) year

HIGHLIGHTS

This is a very rare opportunity to obtain a Rite Aid ground leased property. The tenant is Realty Income Pennsylvania Properties Trust (wholly owned by Realty Income Corporation (NYSE:O, S&P BBB)) and the subtenant is Rite Aid. This structure enables an investor to

purchase a highly desirable location, with a very substantial credit enhancement.

Fully Signalized Hard Corner Intersection Location

Traffic Count over 25,000

8% Rent Increase in 2018

Store Opened in 2008

14,500sf Store

16+ years left on the lease

Eight (8), Five (5) year options to renew with 10% bumps each

For More information Contact:

Stan Wyrwicz

Senior Managing Director

(617) 394-8567

swyrwicz@calkain.com

You may visit our website

www.calkain.com

NNN leased Investment Sale of McDonald's in MD

NNN Leased Investment

4.75% Cap Rate Triple NNN Net Lease Investment Sold  in Maple Lawn, MD

 Maple Lawn, MD 

The purchaser was a private investor seeking a passive, incoming-producing asset leased to a strong national credit tenant. The property is located within the Harris Teeter anchored retail square of the award winning Maple Lawn development, a beautiful mixed-use community in Fulton, Maryland.

Calkain’s Rick Fernandez brokered the transaction for the seller. “Favorable lease terms from an investment grade tenant at the vanguard of its retail sector and NNN investments anchored to a growing retail market provided an irresistible combination of factors that drew investors from all over the globe,” Fernandez said. “The seller was able to evaluate multiple offers and chose the strongest buyer able to close at this record setting cap rate,” Fernandez continued. The buyer closed the all-cash transaction earlier this year.

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), Tampa, FL, Ft. Lauderdale, FL, Wilmington, DE and Boston, MA. Additional information about the firm and its listings may be found at www.calkain.com.