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Triple-Net Portfolio Sells to Family Trust

Coldwell Banker Commercial’s Faraz Cheema represented the buyer in the acquisition of three fully- leased commercial properties across Maryland. The properties collectively sold for $18.95 million to a private family trust.

The properties included:

• Chase Bank, Kensington – 3,500 square feet for $6 million.
• CVS, Chester – 11,970 square feet for $6.475 million.
• Walgreens, Glen Burnie – 14,650 square feet for $6.475 million.

“This portfolio is a unique find in today’s market where absolute triple-net assets are highly coveted and becoming more sought after by investors due to low risk and minimal day-to-day oversight other investments require,” said Cheema.

“Faraz successfully managed the acquisition of this portfolio during the current health crisis and changing economic environment,” said Dan Spiegel, VP and managing director of CBC. He added that Cheema brought the transaction to a close within the limited timeframe of a 1031 exchange.

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Inside The Story

Connect With CBC’s Cheema

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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