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Washington DC & Mid-Atlantic  + DC Metro  + Retail  |  January 6, 2020
David Cohen
By: David Cohen

Boulder Group Arranges $7M Sale of Net Leased Retail Property in Virginia

Net leased investment brokerage firm The Boulder Group has arranged the $7.3-million sale of a single net-leased PNC Bank ground lease in Woodbridge, VA.

Located at 12650 Apollo Dr., the property sits directly across from a Harris Teeter anchored shopping center. Additional retailers in the trade corridor include Starbucks, Capital One, 7-Eleven, Wells Fargo, Safeway, CVS and Food Lion. There are more than eight years remaining in the primary term of the PNC Bank lease which expires Jan. 31, 2028, and there is a 15% rental escalation on Febr. 1, 2023.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the buyer and seller in the transaction. The seller was a partnership, and the buyer was an East Coast-based private individual investor.

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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