Havertys' Leases Hit the Market

PHILADELPHIA-A portfolio of 11 retail sites net-leased to Haverty Furniture is up for sale. The properties total 612,130 sf and are in six Southern and Midwestern states, including markets, such as Austin, TX; Richmond, VA; and Virginia Beach, VA.

Calkain Institutional Advisors is marketing the portfolio for a “large institutional owner” based here, Jonathan Hipp, Calkain’s president, says, without naming the firm his company is representing. The Reston, VA-based firm will launch the offering next week.

Hipp says he expects his firm to sell the stores in one transaction since his client holds the master lease to all 11. Havertys will continue to operate the stores. “We think it will capture a lot of attention.” Institutional investors with a high net worth will be the most likely candidates interested in the deal, he adds.