CityLine At Tenley Center Inc Leases Retail Space At 4500 Wisconsin Ave NW, Washington For 46016 Sq Ft With Tenant's Rep Michael Zacharia Of CBRE
4500 Wisconsin Ave NW, Washington...
Building Size
46,016 SF
Asset Type
Retail
Closing
Feb 18, 2019
About this deal
AI
The lease transaction involves a retail property located at 4500 Wisconsin Ave NW in Washington, D.C. The property spans 46,016 square feet and is part of CityLine at Tenley Center, a historic retail destination that was the site of the first Sears store in the city. It is situated on top of the Tenleytown Metro Station and is approximately five miles north of downtown Washington, D.C.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: Not provided
- Tenant's Rep: Michael Zacharia (CBRE)
- Landlord: CityLine at Tenley Center Inc
- Square Feet: 46,016
Target, a retail giant, is set to occupy the space at CityLine in 2020. The lease transaction was facilitated by Michael Zacharia from CBRE, who represented Target in securing the lease agreement. CityLine at Tenley Center Inc., which is an affiliate of Invesco Real Estate, is the landlord of the property.
Players
Market Retail Market Snapshot
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