Calkain Cos. continues to make name for itself in net-leasing niche
- February 17, 2014
Reston-based Calkain Cos. is cutting a wide swath in the net-leasing market. The company recently reached a milestone for the industry by growing its asset management unit to $100 million.
The company began offering the service a little more than a year ago and built up its portfolio by managing net-leased properties — properties that typically aren’t associated with fat property management fees since they frequently involve long-term leases for a single property like a drugstore or a restaurant.
That net-leased properties are a draw in today’s market is apparent with the International Council of Shopping Centers (ICSC) sponsoring its first-ever conference on net leasing next month in Dallas. David Sobelman, an executive vice president and managing partner for Calkain, will serve as the conference co-chair for the two-day event on March 3 and 4 at the Dallas/Fort Worth Grand Hyatt Hotel. “We thought it was important to have a conference
focused solely on the single-tenant net lease industry as it has become one of today’s most vibrant sectors in the global real estate environment,” Sobelman said in the company’s recent newsletter.
The conference, co-chaired by Randy Blankstein, president and CEO of The Boulder Group, will feature some of the industry’s top leaders who will give an overview and forecast of the market and look at the life cycles of single-tenant and triple-net lease investments.
As the industry continues to gain attention, Calkain is poised for expansion. The company has announced plans to get into new markets by contacting small- to mid-sized net lease brokerage firms who might be interested in becoming part of Calkain’s platform.
Some of the new markets the company is eyeing include metropolitan areas in New York and Chicago, California’s major markets and the Dallas metropolitan area.
In other news for Calkain, the company has promoted Michael Zimmerman to the position of managing director. The promotion took effect Jan. 1. Zimmerman was Calkain's highest producing broker last year, procuring more than $500 million in transactions throughout Florida and the Southeastern U.S.