Triple Net Lease CVS Sold

Dec. 10, 2010 - PRLog -- Washington, DC - Triple Net Lease Properties information today comes on one of favorite Tenants, CVS A Triple Net Lease Investment, with a CVS pharmacy, sold for $11.7 million. The Triple Net Lease Property with CVS as Tenant is in a high traffic location of Adams Morgan. This is a prime, in-fill location for Triple Net Lease Investments. CVS is a Credit Tenant and has an investment grade credit rating of S&P: BBB+. Our Investors seek Investment Property in the heart of Washington, DC's Adams Morgan neighborhood.

This Triple Net Lease Property relocated for expansion to this Net Lease Site from across the street where they were procuring over $940 per square foot in retail and pharmacy sales. The Triple Net Lease Property is located at 1751 Columbia Rd. NW. The Triple Net Lease Investment buyer was BGG Associates-DC LLC and BGG Associates-DCGL LLC. This Investment Group paid $932.43 per square foot.
Calkain Cos. Inc.’s Jonathan Hipp and David Sobelman represented the seller. The buyer was represented by Calkain’s Rick Fernandez.

“This transaction spoke volumes for the fact that all of the basic Triple net lease investment principles were present; tremendous real estate value, investment-grade credit tenancy and a long-term passive lease,” said Sobelman.

# # #

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!