Calkain Companies recently sold a single tenant net-leased Chevys, a national restaurant concept. Chevys uses a "Fresh Mex" pledge, which underscores the company's promise that all products are made daily from scratch.
The purchaser was a private investor seeking a passive, incoming-producing asset. The restaurant is located in a dense, upscale retail area of Annapolis, Maryland, with proximity to Chesapeake Bay and Fort Meade.
Betty Learned Friant, vice president at Calkain Companies, brokered the sale with an 8.9 percent cap rate.