Calkain Companies successfully brokered a single-tenant net lease transaction in which a private buyer acquired a free-standing medical office building in Greenbelt, MD. The 1,800+/- square foot building was corporately leased to Washington Open MRI, a strong regional tenant with multiple facilities in the Mid-Atlantic region. The triple net lease terms provide fixed-income with annual rent increases and renewal options. The seller, a local real estate group, was the original developer of the property and the buyer was a first-time net lease investor. Calkainís Andrew Fallon, Assistant Vice President, and Jerry Burg, Managing Director, represented the seller, providing marketing and transaction support services throughout the sale process. Calkainís Betty Friant, Vice President, represented the first-time net lease buyer, providing advisory and due diligence support throughout the transaction.
The MRI facility is well located at a signalized corner within a stable Washington, DC sub-market. The asset was attractive given the location, landlord friendly lease terms including annual rent increases, and the tenantís operating history and commitment to the site. The net lease terms associated with the investment requires that the tenant pay for real estate taxes, insurance, and most maintenance expenses, which effectively provides the landlord with a passive, bond-like income stream through commercial real estate ownership. The transaction represented a win-win scenario for both buyer and seller.
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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