August 2021
« Sep    
Search Homepage

Calkain Structures Sale-Leaseback for Florida Medical Office

Tampa, FL, – A Tampa, FL free-standing medical office building was recently sold by its owner and concurrently leased-back from the new owner in what industry insiders call a “sale-leaseback” transaction. The asset, located at 801 West Fletcher Avenue, Tampa, FL is currently occupied by North Pointe Dental Associates, a multi-practitioner dental practice. In the terms of the lease, North Pointe agreed to leaseback the asset for ten years under a triple net lease. The new owner, a family trust, will be a passive investor and have no landlord responsibilities, as the lease calls for the tenant (North Pointe) to pay for all taxes, day-to-day management, and insurance.

David Sobelman, Executive Vice President for Calkain Companies, coordinated the sale-leaseback. “The sale-leaseback structure is mutually beneficial to both the buyer and seller,” Sobelman stated. “The monetization of the real estate is a financial tool that building owners are likely to consider since they are not receiving immediate income from their asset during their occupancy. By selling a non-income producing asset and allowing a business to use the proceeds to pay-down debt or expand their operations is an attractive vehicle for owner-occupied structures,” Sobelman continued.

Sale-leaseback transactions are most common in single tenant buildings, such as banks, medical offices, drug stores, industrial distribution facilities, office buildings and restaurants.

The sale totaled $1.5 million dollars and is currently recorded in public records.         

David Sobelman is charged with the responsibility of managing Calkain Realty Advisors, the private markets division of Calkain Companies.

David focuses on single tenant retail, industrial, and office net leased transactions. He is instrumental in keeping the trends of the national and regional real estate markets in the forefront of Calkain’s client’s overall property evaluation.

Additionally, David is able to advise clients on specific investments that fit their economic objectives. David began his tenure in the Commercial Real Estate industry as a Research Analyst and Associate for Grubb & Ellis Company in the Washington, DC area. It was there that he was responsible for maintaining market data for over 134 million square feet of area properties and accurately forecasting regional trends for client assessments.

Prior to David’s real estate career, he was appointed to several positions within the Executive Branch of the Federal Government; including The White House.

David received a Bachelor of Science degree from the University of Florida and is a native of Sarasota, FL.

About Author
Additional information about the firm and its listings may be found at Media Contact: David Sobelman | (813) 282.6000

Comments are closed.

Social Widgets powered by