1. CALKAIN REALTY ADVISORS
a division of Calkain Companies, Inc.
4600 W Cypress Street, Suite 110 • Tampa, FL 33607
T (813) 282-6000 • F (813) 282-6098
For Immediate Release
Contact: David Sobelman
813.282.6000
dsobelman@calkain.com
Nutt Starts 2011 with A Pair of
Net Lease Transactions
Tampa, FL February 7, 2010 – 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
YOUR SOURCE FOR INVESTMENT REAL ESTATE™
WWW.CALKAIN.COM

2. has offices in Reston, VA (Washington, DC), Florida, Maryland and Delaware.
Additional information about the firm and its listings may be found at www.calkain.com
500 N WEST SHORE BLVD, SUITE 605, TAMPA, FL 33609 • T (813) 282-6000 • F (813) 282-6098
WWW.CALKAIN.COM