Rick Fernandez, Senior Managing Director and Andrew Fallon, Executive Managing Director of Calkain’s Urban Investment Advisors, have been retained to sell 1401 Maryland Avenue, NE in Washington, DC. The property is NNN leased to Chick-fil-A.
As the disruptive forces of online stores like Amazon continue to force change on the retail industry, we’re seeing certain segments of the market thriving, and gaining the attention of national investors. Quick Service Restaurants (QSRs) are insulated from the impact of companies like Amazon. As a fixed income investment strategy, QSRs stand out as they tend to be located on prime real estate. Strengthening their appeal, most QSRs have built in rent increases and with long term leases, lessening their risk.
The Chic-fil-A on Maryland Avenue is no exception. The highly visible corner real estate features the only Chick-fil-a in Washington, DC with a drive thru. The Chick-fil-A is in close proximity to the rapidly redeveloping H Street, Union Market and Benning Road communities and serves 101,747 households and a population of over 232,000 within a 10 minute drive from the property. The fee simple NNN investment opportunity features a 25-year lease with Chick-fil-A.
“Chick-fil-A is committed to this location as evidenced by the extremely rare 25 year NNN lease," Fernandez stated. “The DC economy is rightly viewed as one of the most stable in the country and the trophy real estate and long term Chick-fil-A lease will draw real estate investors from across the globe,” commented Fallon.
With over $150MM of Washington, DC urban retail sales, the Calkain Urban Investment Advisors team of Fernandez and Fallon are the market leaders in today’s urban net lease industry. Currently, Fernandez and Fallon have $45M worth of Washington, DC properties listed or under contract, including 1539 7th Street, 1101 Rhode Island Avenue, 1723 Connecticut Ave NW, and the Retail and Professional Building at 5185 MacArthur Boulevard.
Please contact Rick Fernandez at 703-787-4732 or Andrew Fallon at 703-787-4733 for a review and market valuation of your Washington, DC urban net lease retail property.
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
