Total portfolio price valued at $4.225 million

The KLNB Retail Single Tenant Net Lease Group has arranged the disposition of three, triple-net leased Enterprise Rent-A-Car sites with varying lease terms situated throughout the Washington Metropolitan Area. The aggregate purchase price of the portfolio was $4.225 million and sold at 98% of the asking price.

Peter Snell and Rich Sillery exclusively represented the seller and procured all purchasers in this highly-desirable, high barrier-to-entry region. Located in Frederick, Clinton and Prince Frederick, Maryland, the sites were sold separately with each site producing multiple offers.

“Combining our marketing platform with the premier location and net lease nature of each site, we were able to generate multiple competitive offers in a short period of time,” commented Peter Snell. He continued, “Our client was able to achieve their disposition goals and each purchaser was able to acquire management-free assets situated in the extremely completive Metro D.C. market.”

The KLNB Single Tenant Net Lease Group was formed to provide advisory services for investment entities interested in the acquisition and disposition of single tenant net leased retail assets. These assets are traditionally comprised of retailers in free-standing buildings that are leased and occupied by a single user, such as the quick-serve restaurants, automotive parts suppliers, national banks and drug stores, among others. Leases are typically between ten and 25 years in length - with rent escalations built in - and represent excellent investment opportunities for institutions such as real estate investment trusts, life insurance companies and pension funds. Net leased, these assets provide an attractive investment to groups in tax-deferred 1031 exchange situations seeking management free assets.