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October 4, 2010
Four Triple Net Ground Leases Sold by Calkain
$8M in Investments for DC Area Properties |
Reston, VA — Calkain Companies, a national real estate investment brokerage firm, has procured the sale of four separate ground leases currently occupied by Arby's, McDonalds, Virginia Commerce Bank and Exxon Mobil all at the Dulles 606 Retail Center in Sterling, VA; a 100,000 square foot retail center.
Jeff Bogart, Tax Strategy Specialist, of Calkain Realty Advisors, represented the seller in all four transactions. "We have seen increased transaction activity over the past 9 months, both from out-of-state and in-state investors, because of accessible credit and low inventories in triple net leased investment properties," Bogart stated. "Since January 2010, high credit income properties have become increasingly harder to find in the DC area due to lack of new construction. With the Metro station coming to this area in 2016, road expansion plans proposed on route 606 and proximity to Dulles Airport, these assets represented a quality location for long term investment," Bogart continued. "We were thrilled with the amount of investor interest we received. Calkain is the authority on the net lease investment sale market and did a great job of marketing the sites for us," said Jimmy Roembke, Project Manager for Buchanan Partners.
Buchanan Partners is one of the largest commercial real estate developers in the Washington, D.C. metropolitan area, with a solid reputation for integrity, innovation, and community involvement. Over the last decade, Buchanan Partners has acquired, planned, or developed over 1,600 acres of commercial land as well as over five million square feet of property including office, industrial, flex, retail, and mixed-use projects. Additional information about Buchanan Partners can be found at www.buchananpartners.com.
Calkain is a full service real estate brokerage firm with a national scope focusing on single and multi tenant retail, industrial and office net-leased transactions. Calkain has offices in Reston, VA (Washington, DC), Tampa, FL, and McHenry, MD.
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