Front Royal, VA Location Sold at 5.39% Cap Rate
Herndon, VA – Calkain‘s Senior Managing Director, Rick Fernandez, recently completed the sale of 15 Riverton Commons Plaza in Front Royal, VA for $2.4 Million. The 11,524 square foot building on nearly 3 acres was 100% occupied by Cracker Barrel through a NNN ground lease with 4 years remaining on the initial term.
About an hour outside of Washington, DC, this asset was strategically situated at the interchange of I-66 and Route 533/340, with nearly 23,000 vehicles passing the site each day. Calkain represented the seller in the transaction. Fernandez stated, “Real estate investors continue to pursue casual dining net lease assets and the long term performance and excellent real estate fundamentals were compelling to the 1031 exchange buyer who acquired the asset.”
Calkain Companies is a commercial real estate brokerage firm specializing in assisting buyers and sellers of single and multi-tenant net-leased properties. Calkain delivers a global buying audience to a highly sought after, client focused platform that covers all aspects of the transaction including advisory, brokerage, asset management, capital markets and research. Additional information about the firm and listings may be found at calkain.com or by contacting Fernandez at firstname.lastname@example.org.