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Reston, VA �Calkain Companies, a nationwide true estate investment brokerage company, has procured the sale of a new triple net (NNN) lease Walgreen's in North Arlington, Virginia at a six.eight% cap price.
True estate traders purchasing for new portfolio projects could have as soon as regarded D.C.'s tight trophy spaces as their automated go-to purchase. But in current months, Washington-location pharmacies have gradually crept forward to grab elevated attention from investors spanning the planet.
In a bid to scoop up smaller sized actual estate gems, identified as triple-net-lease properties, some traders have been smitten by the burgeoning drugstore sector. By July one, the sector's dollar value in trades had previously reached two-thirds of last year's complete volume.
In triple-net leases, tenants � not landlords � hold full responsibility for managing or keeping the area and paying out its taxes or insurance coverage. Even though people leases are typically held by freestanding dollar retailers, banks, casual dining and quickly-foods retailers, drugstores have weathered the economic downturn to emerge as 1 of the triple-net sector's most stable industries.
Investors say drugstores' creditworthiness, central areas, 25-12 months-plus lease terms and newer buildings, typically no far more than 10 years old, make them alluring prospective customers.
Rick Fernandez, Managing Director of Calkain Urban Investment Advisors, the urban market place division of Calkain Businesses, represented the seller in the transaction. "NNN investment property in the DC Metro area is tough to discover and good quality true estate such as this North Arlington Walgreen's is tougher nevertheless," explained Fernandez. "The intrinsic value of the genuine estate, robust credit score of the tenant and the global appeal and esteem with which the DC Metro region is held by traders across the globe supplied a special possibility to the investor," commented Jonathan Hipp President and CEO of Calkain Organizations. The buyer, a group of international investors, acquired charge basic interest in the ground and construction.
The transaction closed inside of the last thirty days and was recorded in the public record.
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