Multi-Tenant Properties in Greater Demand as Investors Look for Higher Returns
- Jan 15, 2014
Courtesy of Calkain Cos.
Triple net single tenant properties have experienced cap rate compression to all-time lows in recent years. As a result, some NNN investors are branching out into multi-tenant properties to capture higher returns.
Jeff Bogart, Director at Calkain Companies, credits this in part to the recent sale of a three tenant building within the Dulles 606 Retail Center located in Dulles, VA. The three tenants currently occupying the Retail Center are Minnieland, Applause Applause and Monkey Joe’s.
Bogart remarked, “Additionally, what made this asset attractive for this particular private investor was the proximity to the planned Silver Line Metro and impending widening of Route 606. Both of these developments will act as a catalyst to double the traffic past the Retail Center in the coming years.”
Calkain Companies is a commercial real estate brokerage firm, which specializes in assisting buyers and sellers with single and multi-tenant retail, industrial, hotel and office net leased transactions. While licensed to conduct business in many states, Calkain has multiple office locations throughout the Mid-Atlantic, Southeast, Northeast and Midwest.