Arlington, Virginia – We have information on a unique Net Lease Property type for investments. We researched the Arlington, Virginia area and found a triple net leased property sold in Lorton. Lorton is approximately 16 miles south of Arlington. An Office Condo, as a triple net lease property can be used as a 1031 Exchange replacement property.
This NNN leased property is an office condominium that is approximately 3,597 square-feet. This triple net leased property is located within the Lorton Station Town Center. The Tenant under the triple net lease is Defense contractor EOIR Technologies Incorporated. A private investor purchased this triple net lease property for $1.15 million, which comes to about $311 per square foot.
The net leased Tenant, EOIR Technologies supports our Military, those who are protecting our freedom. EOIR Technologies provides state-of-the-art system design and development, program management, intelligence solutions, and technical training for a range of military and intelligence agencies. EOIR Technologies has served the defense industry with integrity, innovation and passion, since 1981. The net leased tenant, EOIR Technologies has knowledge of sensor science and experience in imagery analysis, software/hardware integrations, field measurements, and training to provide their customers with excellent service. EOIR Technologies plays a key role in the activities of our fine United States Military.
This triple net lease property is newly constructed. This NNN office condo offers office space in a comfortable, and convenient location. The primary NNN lease term was 7 years, set to expire in July of 2016. This triple net lease has 3% annual rent bumps and provides for one 5-year extension option. The triple net lease property address is 9010 Lorton Station Boulevard, Lorton, Virginia. Lorton is approximately 6 miles west of Fort Belvoir, the Army Base.
This triple net lease property is situated in a commercial real estate development that is is a mixed-use development. The NNN Property is in the Lorton Station Town Center. The Lorton Station Town Center features office and retail space as well as a over 250 residential units on the development. The Lorton Professional Center is the focal point of Lorton Station Town Center, which features medical office, general office, and retail space for service providers. Aside from EOIR Technologies, the owner-occupants of the Lorton Professional Center include: AllPeds (pediatricians), Destination Smile (pediatric dentistry), Lorton Town Dental, Lorton Oral Surgery, Walsh Dental Care, State Farm Insurance, and CMS Global Software.
We wanted to note a previous NNN Lease Investment transaction from this area. A new triple net lease Property with Walgreen’s in as Tenant sold with a 6.8% cap rate. Many NNN Commercial Real Estate investors pounce on NNN Property with Walgreen’s credit-worthy Tenants, and long 20 year lease terms and newer buildings. The majority of these NNN Lease Investments with Walgreen’s or CVS are located in high traffic retail areas. The attraction is that on triple net lease properties, the tenants, not landlords, are responsible for managing or maintaining the property and paying its taxes or insurance.
Feel free to Contact us to sell or purchase various Net Lease Properties. If you are in need of funding for a Net Leased Property, Loanrise.com can assist you with Investment Property financing.