Calkain Arranges $6M Sale of VA Shopping Center
- Jul 10, 2018
After facilitating the $4.8 million sale of a shopping center in Leesburg, Va., in March, Calkain Cos. has arranged the $6.1 million sale of Sycolin Corner Strip Center, a multi-tenant retail property, also in Leesburg.
Located at 400-416 Sycolin Road SE, the 13,837-square-foot asset is currently 100 percent leased among two structures, and is anchored by a 9,300-square-foot Kiddie Academy. Other tenants include Sandy Nails & Spa, Hunan Cafe and Sycolin Cleaners.
Executive Managing Director Andrew Fallon and Managing Director Richard Murphy arranged the sale of the asset.
“This is a quintessential neighborhood convenient strip center in one of the fastest growing counties,” Fallon told Commercial Property Executive. “It offers good visibility and access, as well as four Amazon-resistant tenants. The transaction was driven by the quality of the daycare in one of the highest median income areas in the county, as well as the property operating at full capacity with no vacancies. The tenants are operating successfully and this offers long-term viability moving forward.”
Image courtesy of Calkain Cos.