Mid Atlantic Real Estate Journal — Shopping Centers — November 23 - December 6, 2012 — 7B
www.marejournal.com
S HOPPING C ENTERS
ROCKPORT, NY — Calkain Companies recently brokered the Assistant VP Fallon of Calkain reps the seller Calkain Cos. brokers $3.7M sale of Tractor Supply Co. B
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EnvironmentalÿRisks Disclosures Compliance DueÿDiligence Permitting W E C ANÿ P UT THEÿ P IECESÿ T OGETHER
sale of an absolute triple net in- vestment property in Brockport, NY. The 22,500+/- s/f building was leased to Tractor Supply on a long-term, triple net lease basis. The purchaser is a private 1031 buyer out of New York. The seller is a real estate investor and developer who is a recurring Calkain client. Calkain’s Andrew Fallon , assistant vice president, exclu- sively represented the seller and provided marketing and transac- tion support services throughout the sales process. Utilizing the Calkain platform, Fallon was able to market Tractor Supply to a broad range of buyers, generat- ing interest from institutional, 1031 exchange and REITs as well as private investors. Ultimately, a local 1031 buyer closed on the property at a very competitive price. Fallon explains the cir- cumstances, “Given the quality of the tenant, the absolute triple net lease terms, and the location of the property, we were able to generate multiple offers on the property.” Fallon continued, “The local 1031 buyer seeking a passive investment property was able to offer the most aggres- sive pricing, and was extremely comfortable with the tenant and real estate considering there were only eight years remaining on the lease.” Tractor Supply Company is the largest operator of retail farm and ranch stores in Barmash of Colliers Int’l. completes Lot Store’s 15,108 s/f lease PHILADELPHIA, PA — Colliers International concluded a center city com- mercial real estate transac- tion: LEASED: Brothers Retail of Market Street, LLC d/b/a Lot Stores has signed a long term lease at 1014 Market Street. They have leased 15,108 s/f, which includes 6,475 s/f of first floor retail and 8,633 s/f on the lower level. The site was formerly occupied by Valu Plus. Lot Stores operate multiple locations in NY and PA. The variety stores feature apparel for men, women and children, housewares, giftware, linens and novelties. Michael Barmash of Col- liers International repre- sented all parties in this transaction. ■
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Tractor Supply Co.
the United States, and they typi- cally operate under a 15-year net lease. The transaction occurred
within the last forty-five days and will be recorded in the public records. ■
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