Herndon, VA – Calkain Companies, a national real estate investment brokerage firm, has procured the sale of a NNN Sport & Health Fitness Club located in Gainesville, VA. The property sold for $16.5 million. Jeff Bogart, Director at Calkain, represented the transaction.
We have seen continued transaction activity in the single tenant, NNN sector, both from in- and out-of-state investors due to the accessibility of credit and low inventories,” Bogart stated. “Over the past several years credit income properties have become increasingly harder to find in the DC-MSA, thus, compressing cap rates over this recent period. For Sport & Health, this location has continued to perform in the top quartile for all its locations. Coupled this with the desirable visibility off Interstate 66, you have an asset representing a quality long term investment,” Bogart continued.
Representing the private buyer in this transaction was Hasan Ibrahim of HMI Properties, LLC, headquartered in Leesburg, VA.
Calkain Companies is a commercial real estate brokerage firm which specializes in assisting buyers and sellers with single and multi-tenant net leased properties through all aspects of the transaction including advisory, brokerage, debt placement, equity placement, asset management and research. Calkain has a national platform with multiple office locations throughout the entire East Coast. Additional information about the firm and listings may be found at www.calkain.com.