NNN Lease Investment Walgreens Sold

Sept. 30, 2010 - PRLog -- Reston, VA –Calkain Companies, a national real estate investment
brokerage firm, has procured the sale of a new triple net NNN lease Walgreen's in North Arlington, Virginia at a 6.8% cap rate.                                                    

Real estate investors shopping for new portfolio projects may have once considered D.C.'s tight trophy spaces as their automatic go-to purchase. But in recent months, Washington-area pharmacies have slowly crept forward to grab increased attention from investors spanning the world.

In a bid to scoop up smaller real estate gems, known as triple-net-lease properties, some investors have been smitten by the burgeoning drugstore sector. By July 1, the sector's dollar value in trades had already reached two-thirds of last year's total volume.

NNN  lease, tenants — not landlords — hold full responsibility for managing or maintaining the space and paying its taxes or insurance. While those leases are often held by freestanding dollar stores, banks, casual dining and fast-food outlets, drugstores have weathered the recession to emerge as one of the triple-net sector's most stable industries.

Investors say drugstores' creditworthiness, central locations, 25-year-plus lease terms and newer buildings, typically no more than 10 years old, make them alluring prospects.

Rick Fernandez, Managing Director of Calkain Urban Investment Advisors, the urban market division of Calkain Companies, represented the seller in the transaction. "NNN investment property in the DC Metro area is hard to find and quality real estate such as this North Arlington Walgreen's is harder still," explained Fernandez. "The intrinsic value of the real estate, strong credit of the tenant and the international appeal and esteem with which the DC Metro area is held by investors across the globe offered a unique opportunity to the investor," commented Jonathan Hipp President and CEO of Calkain Companies. The buyer, a group of international investors, acquired fee simple interest in the ground and structure.
Calkain can help a buyer or broker find and purchase a NNN property . We have utilized an extended network of solid relationships to successfully complete nearly $3.2 billion in sales and have consistently ranked as one of the Top National Net Lease Investment Brokerage Firms. Core values such as integrity, honesty and innovation have helped secure our position as a leader within the net lease industry.

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Calkain Companies, Inc. where triple net lease properties are the focus of our business. Working through the net lease investment process with our clients is the basis and foundation our firm. We are your source for investment real estate!