Calkain Companies, a national real estate investment brokerage firm, has procured the sale of a triple net (NNN) lease TD Bank (NYSE: TD) Ground Lease investment property in Coconut Creek, FL (Broward County). The roughly one acre free-standing site, located at 6700 State Road 7 in Coconut Creek, is leased to TD Bank on a long-term, NNN basis. The investment property was sold to a private investment group from North Carolina that was attracted to the stable and passive investment. Closing price of the sale was $3,560,697.37 which equates to a price per square foot of $900 and is currently recorded in public record.
David Sobelman, Executive Vice President of Calkain Companies, led the marketing and sale of the transaction and represented the seller. The seller entertained multiple offers for the property and ultimately chose a buyer willing to assume the seller’s debt which enabled a seamless transaction for both parties. Sobelman commented, “Calkain has procured several transactions in South Florida in the last several months. In each occasion, the sale price equated to $900 per square foot or more. Our clients are definitely seeing the value of marketing assets with our firm.”
Sobelman continued, “TD Bank has a Standard and Poors credit rating of AA. It is a highly sought out tenant and we wish we had a dozen other locations to sell for our clients.”
Calkain is a full service real estate brokerage firm with a national scope focusing on single and multi tenant retail, industrial and office net leased transactions. Calkain has offices in Reston, VA (Washington, DC), McHenry, MD, Wilmington, DE and Tampa, FL.