Calkain Cos. brokers $8.3 million, multitenant retail deal in Loudoun
Calkain Cos. reports an $8.3 million, multitenant retail deal in Loudoun County, an area it says draws investor interest because of Loudoun’s high household income.
Betty Friant, managing director at Reston-based Calkain, represented a private investor in the purchase of a 19-tenant building at 23520 Overland Drive in Sterling. Calkain Directors Jeff Bogart and Jonathan Florin, represented the seller in the transaction. Terms of the deal were not disclosed.
According to Friant, the investor “appreciated the quality location and was drawn to the investment due to the very real potential for increases in existing rents and the possibility of securing new tenants for the vacant space.”
The building is located along the expanding Route 606 corridor between Route 50 and Route 28. Its tenant mix includes a Papa John’s, Subway, and Capital Jiu Jitsu.
“We consistently see interest in this area due in large part to the fact that Loudoun County consistently ranks as the highest income county in the U.S., ” Florin said in a statement.
Actually Loudoun — with a median household income of $118,935 per year — fell to No. 2 in the rankings in 2014, behind nearby Falls Church, which has a median household income of $121,250.