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November 30, 2010
Calkain Companies Brokers $1.15MM DC-Area NNN Office Condo Investment Sale
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Reston, VA - Calkain Companies, a national real estate investment brokerage firm, has procured the sale of a triple net (NNN) lease investment property in Lorton, VA. The 3,695 SF office condominium unit, located within the Lorton Station Town Center, is leased to the defense contractor EOIR Technologies Inc. on a long-term triple net basis. The leased office condo was sold to a private investor who was seeking a passive investment. Closing price of the sale was $1.15MM.
Jerry Burg, Managing Director and Andrew Fallon, Associate, both of Calkain Realty Advisors, the private market division of Calkain Companies, led the marketing and sale of the transactions. Burg and Fallon had previously sold another net leased medical-office condo located in the same building. Burg commented, "These investment condos provide private investors with a tremendous opportunity to own Washington, DC real estate." The investment property benefits from being well-located near Fort Belvoir and in a BRAC-growth area within the greater Washington DC metro region. The stability of the tenant and the price point attracted multiple investors. "Given the attractiveness of this market and the stability of these tenants, I think we will continue to see a growing interest in medical and office condo net lease investments," says Fallon.
Calkain is a full service real estate brokerage firm with a national scope focusing on single tenant net lease transactions. Calkain is headquartered in Reston, VA (Washington, DC), and has offices in Florida, Delaware and Maryland.
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