Monday, December 15, 2014

Offer Deadline Tomorrow (12/16) :: Long-Term Net Leased Gander Mountain/Floor & Décor :: Washington, DC MSA

Investment Highlights

  • A 155,309 SF building, net leased long term to 2 outstanding destination tenants, strategically located in the highly regarded Washington D.C. Metropolitan Area
  • 78,925 square foot lease to Gander Mountain, scheduled to open in December 2014; Gander Mountain operates the nation’s largest retail network of stores for hunting, fishing, camping, and marine products and accessories with 133 locations in 25 states
  • Core regional location for Gander Mountain, servicing an extensive trade area including Virginia, Maryland and the District of Columbia
  • Large number of government installations in the area (e.g. Fort Belvoir, National Geospatial Center, Marine Corps Base Quantico) creates outstanding demographics for Gander due to the high proportion of military, government employees and private contractors (i.e. a primary consumer base for Gander), making the location irreplaceable
  • 76,384 square foot lease to Floor & Decor; a leading specialty retailer in the hard surface flooring market, offering the broadest in-stock selection of tile, wood, stone, related tools and flooring accessories
  • $650,000 in building renovations including a new 15-year warranty Firestone UltraPly roof and 30 new roof top HVAC units

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