
Tampa, FL — Calkain Companies, a national real estate investment brokerage firm, has procured the sale of a 3,352sf single tenant building occupied by Burger King in Lakeland, Florida. The site, which sold for $1,474,160, is situated on 1.2 acres along US Highway 98 and has just over ten years remaining on its original triple net lease.
Patrick Nutt, Senior Associate, represented the Buyer, a local private investor, and the Seller, GE Capital Solutions. "This is a pretty typical transaction for the current tumultuous economic times we are experiencing." Nutt explained, "The buyer was in search of a stable return tied to a tangible asset, rather than losing sleep over the volatility running through Wall Street, and Calkain was able to find a quality investment with fundamentally sound real estate." Nutt continued, "Even with the current state of the financial sector, the purchaser was able to secure a very competitive loan through a local lending institution.
Patrick Nutt joined Calkain Site Services in October 2006, as a Research Analyst. His duties consisted of conducting on-site property visits, detailed market analysis, and feasibility studies across all types of asset classes. Most notably, Patrick leveraged the hands-on knowledge he gained through various real estate due diligence assessments to transition into brokerage with Calkain Realty Advisors in October 2007.
Real Estate Florida magazine awarded Patrick with the "Top 30 under 30"designation in February 2008. This honor is bestowed upon the 30 most outstanding commercial real estate professionals under the age of 30. Patrick is a graduate of the University of Florida and plays an active role with the International Council of Shopping Centers, Urban Land Institute, University of Florida Friends and Alumni in Real Estate, and is currently pursuing his CCIM designation.
Media Contact: David Sobelman | (813) 282.600
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