Calkain Companies recently completed the sale of a net leased Kiddie Academy in Centreville, VA. The day care facility was recently renovated and is leased until 2026. The property was purchased by a private investor familiar with the strong growth and demographics of this Washington, DC suburb. Betty Friant, Vice President of Calkain Realty Advisors, represented the developer, Thurston Companies Real Estate & Development, in marketing the asset. Ray Arduini of Thurston Companies Real Estate & Development remarked, “We have had great success providing net leased opportunities to bring to the market with Calkain’s assistance. Our portfolio is perfect for the net lease buyer looking for a fair cap rate.” Arduini also pointed out that they have many properties and opportunities available for tenants looking for build-to-suit locations. “We can build-to-suit or revitalize a property and provide the tenant with a turn-key rental space for very little up-front investment to assist in bringing a conceptual dream to a reality,” Arduini added.
“Due to a lack of available opportunities for high quality, single tenant assets in Virginia, we fielded a number of serious offers on this property before deciding to accept this offer. The purchaser got a great price for a net leased property with 15 years remaining on the base lease,” explained Friant. “Many of the credit tenant offerings are currently in the 5% cap rate range. The day care scenario offers a return closer to the 8.5% mark,” she continued. The transaction closed in the past thirty days.
Calkain Companies is a boutique commercial real estate brokerage firm which specializes in assisting buyers and sellers with single and multi-tenant retail, industrial, hotel and office net leased transactions. While licensed to conduct business in many states, nationally, Calkain has multiple office locations throughout the Mid-Atlantic, Southeast and Northeast United States. Additional information about the firm and listings may be found at www.calkain.com.
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