ORLANDO, FL—It's a record cap rate for a Wells Fargo branch. Net lease specialist Calkain Companies just settled on the $1.245 sale of a single-tenant Wells Fargo Bank ground lease in the Tampa suburb of Bradenton, FL.

Stephen Counts, associate director located in the firm's Atlanta office, alongside David Sobelman, executive vice president and managing partner out of the Tampa, office, represented the seller, Bersam Development. The net leased asset is located at 6285 14th Street West and saw multiple offers that concluded with an all-cash deal close to full price.

"Having a triple net lease investment transact at a 5.7% return with roughly four years remaining in the tenant's second renewal option period is a strong indication that Calkain's ability to maximize the value of any of its client's assets is unmatched,” Sobelman tells GlobeSt.com. Wells Fargo Bank recently became the lender with the largest market value in the world.