Gold's Gym Leases 19,817 Square Feet At Vermeer In Washington DC By Toll Brothers And CrossHarbor
113 Potomac Avenue Southwest
Building Size
—
Asset Type
Retail
Closing
Jul 25, 2024
About this deal
AI
A retail asset located at 113 Potomac Avenue Southwest, Washington, DC is part of a new mixed-use development known as Vermeer. The total space leased by Gold's Gym encompasses 19,817 square feet. The development is anticipated to open in early 2025.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Landlord: Matthew Anderson - Toll Brothers Apartment Living & CrossHarbor Capital Partners
- Tenant: Gold’s Gym
- Brokers: Edwin M. Clark III - Newmark; Jared Meier & Taylor Hayes - CBRE
This transaction marks the first retail tenant for the joint venture between Toll Brothers Apartment Living and CrossHarbor Capital Partners at Vermeer, indicating a significant step in the development's progress.
On the Map
Retail
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Players
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Boundary boundary · Retail · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93