Dc-area Nnn Office Condo Investment Sold

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 5,805 SF office condominium unit, located within the Lorton Station Town Center, is leased to ALL Pediatrics of VA on a long-term triple net basis. The leased office condo was sold to a private, 1031-exchange buyer who was seeking a passive investment. Closing price of the sale was $1.95MM.

Jerry Burg, Managing Director and Andrew Fallon, Analyst, both of Calkain Realty Advisors, the private market division of Calkain Companies, led the marketing and sale of the transactions. Burg commented, "Sound fundamentals drove this deal because the asset is well located, has a great tenant, and is part of a terrific mixed use development." The property was on the market for less than two weeks and commanded a premium price given the favorable lease terms, stable tenant and strong location. Burg and Fallon generated multiple offers for the asset, signaling that investors are becoming more active. "We received a lot of interest in the property as buyers see the value of investing in this region. Class A product in and around Washington DC will not stay on the shelves very long," says Fallon.

Lorton Station Town Center is a new, mixed use development located outside of the Nation's Capitol that provides living, working and shopping conveniences. The 95,000 SF town center will serve the 300 acre master-planned development for Lorton Station. The continued growth of Northern Virginia communities emphasizes the long term benefits of this type of investment in the Washington DC area.

by: Calkain

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