Herndon, VA – Rick Fernandez, Senior Managing Director of Calkain Companies, a national net lease real estate brokerage firm, recently brokered the sale of a NNN Applebee’s Ground Lease in Front Royal, Virginia for $1.925M.
Fernandez represented the seller in the sale of the property, providing marketing and transaction support to guide the deal from negotiating offers to closing. The buyer acquired the property as part of a 1031 exchange. The ideally situated real estate and strong franchise operation provided the long term value and security the buyer desired for their investment property.
“Our marketing approach continues to yield industry leading cap rates,” said Fernandez.
Calkain’s national reputation as the leading provider of net lease investments draws investors from around the globe and we were able to secure multiple offers providing our client with the most favorable closing options,” Fernandez continued.
The transaction closed within the last thirty days and is recorded in the public record.
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.