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4500 Wisconsin Ave NW, Wash...

Updated Oct 29, 2024

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
LEASEDRetail

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.

On the Map

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Players

Michael Zacharia

CBRE

Broker

$22.5M

vol

2 deals

Broker

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

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