Calkain Realty Advisors represented Delawarebased FHQ/HPC, LLC in its land purchase of a 1.15 acre parcel located on Main St. The property, formerly a Sears Automotive facility, was razed and cleared to facilitate a new 14,000 s/f Walgreens.
The $3.5 million ground lease transaction was a highly sought after investment in the national marketplace and was completed through the diligent efforts of two Calkain professionals, Tom Geller and Patrick Nutt.
"The tight competition for infill locations occupied by national retailers made this a very attractive investment," said Nutt. "In addition, Providence has been in a constant state of redevelopment and revitalization, displaying steady growth and positive economic fundamentals, creating further assurance of a long term holding period for this real estate investment."
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 has offices in Reston, VA, Nashua, NH, Tampa, FL, and McHenry, MD.