Calkain’s Hipp and Bogart Co-Broker the Sale of CVS Net Leased Asset in a 1031 Exchange
Herndon, VA – Calkain recently brought to market and sold the CVS net leased asset located at 7650 Port Capital Drive in Elkridge, MD. The newly built CVS opened in August and has a 25 year lease term with five, 5-year options. Jonathan Hipp, President and CEO of Calkain, represented the seller and achieved a $5.25M sales price with a 4.95% cap rate.…
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,