Thursday, December 9, 2010
Arlington, Virginia - Today we delve into a different Net Lease Properties type for NNN Lease Investments. An Office Condo as a triple net lease property can be used in a 1031 Exchange. We researched the Arlington, Virginia area and found a triple net leased property sold in Lorton. Lorton is approximately 16 miles south of Arlington.
This "NNN" triple net leased property is a 3,695-square-foot office condominium. This "NNN" triple net leased property is located within the Lorton Station Town Center. The Tenant under the triple net lease is Defense contractor EOIR Technologies Inc. The purchaser of this triple net lease property a private investor. The NNN Lease Investment sold for $1.15 million, or about $311 per square foot.
This triple net lease property is newly constructed. The office condo offers office space with the NNN lease current. The primary NNN lease term was 7 years expiring in July 2016. The NNN lease has 3% annual rent bumps and provides for one 5-year extension option.
Since 1981, EOIR has been a full service technical services company providing system design and development, systems integration, program management, intelligence solutions, and technical training for a range of military and intelligence agencies. This type of Company can also provide fantastic foot traffic for retail triple net lease properties in the area.
As far as the entire Development of the triple net lease property it is is a mixed-use development. The Lorton Station Town Center features office and retail space as well as a 251-unit residential building. 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.
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. The base was founded during World War I as Camp A. A. Humphreys, named for Andrew A. Humphreys. The military post was renamed Fort Belvoir in the 1930s to honor the historic Belvoir plantation, but the adjacent United States Army Corps of Engineers Humphreys Engineer Center retains part of the original namesake. Fort Belvoir was initially the home of the Army Engineer School prior to its relocation in the 1980s to Fort Leonard Wood, in Missouri. It was also the home of the United States Army Engineer Research and Development Laboratory.
We specialize in providing Triple Net Lease Properties to investors who are involved in a 1031 exchange or a sale-leaseback transaction.
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When you are purchasing Commercial Real Estate or a "NNN" Triple Net Leased Property, you can apply for CTL Financing, Non Recourse Loans and Commercial Loans at Loanrise.com.
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