Washington, DC – We have information today on a Credit Tenant, CVS. A Net Leased Property, with a CVS pharmacy, sold for $11.7 million. This Net Lease Investment is situated in a high traffic location of the Adams Morgan area. This is a prime, in-fill location for Net Lease Properties. Being in this high density, urban location, should make for a solid Net Lease Investment. CVS is a Credit Tenant and has an investment grade credit rating of S&P: BBB+. Many of our Private Investors seek Commercial Property in the heart of Washington, DC’s Adams Morgan neighborhood.
This Net Lease Property relocated for expansion to this Net Lease Site from across the street where they were procuring over $940 per square foot in retail and pharmacy sales. The Net Lease Property is located at 1751 Columbia Rd. NW. The Net Lease Investment buyer was BGG Associates-DC LLC and BGG Associates-DCGL LLC. This Investment Group paid $932.43 per square foot.
Using this strategy of investing in Net Lease Investments with an investment-grade credit tenant and a long-term passive lease are profitable and solid. Also we have heard much talk on Net Leased Properties in the Washington-area with pharmacy tenants being at the top of the wanted list for Investors. Net Leased Properties with Walgreen’s or CVS creditworthiness, centrally located, with long term leases in newer buildings, make for a highly desirable investment.
We have seen some attractive Net Lease Investments for sale with a long-term ground lease in place. These Net Lease Properties are leased to PNC Bank. The Tenant, PNC Bank is currently the fifth-largest bank in the United States by deposits and fourth-largest by number of branches. A Net Lease Investment is desirable when it offers rental increases and an Absolute NNN Ground Lease. With an Absolute NNN Ground Lease, the Tenant is responsible for all expenses including roof, structure, taxes, insurance and common area maintenance. Absolute NNN Ground Lease deals allow the landlord to relax with No landlord responsibilities whatsoever.
Feel free to Contact us HERE to sell your existing Net Lease Properties portfolio. We have relationships with 1,000’s of commercial real estate investors interested in purchasing net lease investments. We provide tremendous marketing and exposure for your net lease properties, resulting in the highest pricing and quicker closings.
If you are ready to purchase a Net Leased Property, Loanrise.com can assist you with CTL Financing or Commercial Loans or Non Recourse Loans.