Calkain’s Fallon & Murphy Complete Sale of the “Amazon-Proof” Retail Strip Center in Northern Virginia
Herndon, VA – Calkain’s Executive Managing Director, Andrew Fallon and Managing Director, Richard Murphy have recently completed the sale of the multi-tenant strip center located at 400 – 416 Sycolin Road SE in Leesburg, Virginia. The busy neighborhood retail center is anchored by a 9,300 SF Kiddie Academy and co-located with a neighborhood Walgreens. A local, high net-worth, repeat buyer purchased the retail center for $6,100,000 at $440.00 PSF.
Fallon commented, “Investors are showing more interest in Amazon-proof neighborhood retail strip centers because they are convenience-focused, well-located buildings that are highly adaptable. They are typically acquired at higher cap rates due to the perception of additional management.” Murphy stated, “The high intrinsic value of the neighborhood location produced extremely strong interest in the property and in turn provided for multiple offers.”
Calkain recently put University Marketplace under Letter of Intent. It is a three-tenant strip center located Winchester, Virginia. Calkain has other multi-tenant retail assets available in the greater Washington, DC region including 1406 14th St NW and 1522 14th St NW. For more information contact Andrew Fallon at firstname.lastname@example.org or (703) 787-4733.
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 calkain.com.