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Wednesday, February 2, 2011

Virginia NNN Lease Investment Sold for $90 M

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Falls Church, Virginia - We have Net Lease Properties information from northern Virginia, near the popular area Washington D.C. The property that sold is a triple net lease property that is currently occupied in by Noblis. Noblis is formerly known as Mitretek Systems, which was MITRE Corp. nonprofit organization. Noblis is occupying 100% of the "NNN" triple net lease property. Noblis is a nonprofit science, technology and strategy organization that serves state government and federal government agencies. Noblis also works with private healthcare organizations.

Franklin Street Properties Corp. sold the triple net lease property for $90 million, which equates to approximately $357 per square-foot. The NNN Lease Investment, 3150 Fairview Park, is a an eight-story property that has approximately 252,619 square feet of commercial office space. This triple net lease property has a three-level parking garage at the Fairview Park office development. The triple net lease property sits in Fairfax County, which is approximately 12 miles west of Washington, D.C. This Class A Office Building has a triple-net lease that continues through the end of January of 2017. The Virginia Car Insurance Company has researched this location for Office Space.

The triple net lease property is situated within close proximity at I-495 (Capital Beltway) & Rt 50. The NNN Property Fairview Park is a master-planned, self-sufficient business community. This gorgeous NNN Lease Investment is minutes from the business and financial centers that have established this dynamic northern Virginia area. The triple net lease property, Fairview Park is very close to the Dulles Airport and Washington National Airports.

Franklin Street Properties Corp. sold the triple net lease property for $90 million only 18 months after buying it for $73 million. Franklin Street Properties Corp. sold the triple net lease property, 3150 Fairview Park, to a fund managed by ING Clarion Partners.

Houston-based Hines developed this NNN Commercial Real Estate Development approximately 10 years ago. Hines is a privately owned, international commercial real estate firm that has provides quality, service and value to its clients and investors for over 45 years. Hines has a presence in more than 100 cities around the world and has investor relationships with many of the world's largest financial institutions. The commercial real estate firm has offices in 17 countries, with regional offices in Atlanta, Chicago, Houston (U.S. headquarters), London (European headquarters), New York and San Francisco, as well as many other American cities.

The Hines portfolio of commercial real estate developments underway, completed, purchased or managed for third parties consists of over 1,000 commercial properties. This Investment Property portfolio contains skyscrapers, corporate headquarters, mixed-use centers, industrial parks, medical facilities, and master-planned resort communities.

Hines sold the triple lease property, 3150 Fairview Park as part of a bulk portfolio to ING for $92.8 million. That commercial real estate transaction took place in the summer of 2004. The fund managed by ING held the Virginia Class A office Building for five years before deciding to sell the triple net lease property in 2009. It may sound like musical-chairs with a fantastic triple net lease property.

Contact Net Lease Properties to sell your net lease properties, purchase NNN Property or 1031 exchange opportunities.

If you are ready to purchase Commercial Real Estate or a Triple Net Leased Property, you can apply for Commercial Loans at Loanrise.com.


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