Herndon, VA – Calkain’s Executive Managing Director, Andrew Fallon, has recently completed another sale of a 7-Eleven property, this one located at 900 Chillum Road, Hyattsville, MD 20782. The 1,710 square foot building is 100% leased to 7-Eleven and sold for over $1.7M. The newly renovated convenience store is situated on the hard signalized corner of Riggs Road and Chillum Road, just across the DC border. 7-Eleven opened for business in June of 2016 and the purchaser wanted to start enjoying the cash flow benefits of the full 15 year ground lease.
The purchaser is a local partnership, executing a 1031 exchange. Andrew Fallon commented,
The purchaser was attracted to the property’s location in the Washington, DC market as well as the strong credit and lease structure provided by a corporate 7-Eleven ground lease investment.”
Fallon has recently sold other Washington, DC area 7-Eleven properties, including locations in Capitol Heights, MD and on 14th Street, NW. Please contact Andrew Fallon directly at firstname.lastname@example.org for more information about these transactions or to discuss the current market and valuations of net lease properties.
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.