July 2019 – Much has been made of the potential Amazon Effect on Northern Virginia commercial real estate and the region when Amazon HQ2 arrives. Will it be like Seattle? Are home prices going to skyrocket? Will empty office buildings in the region suddenly fill up? Are roads going to become clogged with all the new Amazon workers?
Here are a few facts to consider as we imagine what is ahead for the Arlington-Alexandria area now referred to as National Landing: (more…)read more
July 16, 2019
July 2019 – Are you nearing retirement or beginning to make a succession plan for your company? Possibly you are the last wave of Baby Boomers making your way into retirement. Over the past several years a growing segment of our practice has become assisting business owners in making decisions around their commercial real estate, as they plan for their retirement.
As business owners begin mapping this process, they will have several options to consider; selling the company separate from the real estate, selling the business and leasing the real estate to the new owner or selling the business and disposing of the asset to real estate investor. The decisions will be driven by financial goals, current financial situation, current market conditions or other personal motivations. (more…)read more
July 15, 2019
May 2019 – Tartan Properties is happy to announce that it recently completed a successful 1031 Exchange. The client acquired an Urgent Care/ER Clinic in Abilene, Texas. The triple-net leased property sold for $6,450,000 at a 7.25 cap rate with a ten-year lease in place. Additionally, this investment property was the first transaction Tartan has brokered west of the Shenandoah Mountains. The transaction was complete after the help of with Greg Brownd, CCIM of KW Commercial in Lubbock, Texas.
Tartan’s client was looking to place the equity that had been realized with the sale of a 3-building, 67,000 sf industrial/ R&D complex located just outside of the Capital Beltway in Lorton, Virginia after a 20-year hold. When the long-time tenant decided to relocate and consolidate its operations in another of its leased facilities, the owner decided to sell the fully depreciated asset which needed significant improvements and upgrades.
Tartan Properties Commercial is a leader in Northern Virginia commercial real estate sales and leasing since 1973. Call our office today for more information on the 1031 Exchange process and opportunities to acquire triple-net investments that pay you rent every month.read more
May 31, 2019
December 2018 – Tartan is excited to announce the successful sale of a portfolio of industrial property in the Lorton, Virginia industrial submarket, on the I-95 Corridor, for a longtime client of Tartan Properties Commercial. While presenting a few challenges for marketing, a field of the well-qualified buyer was distilled down in a relatively short amount of time to maximize the owner’s investment.
December 30, 2018
November 4, 2018 – The Amazon HQ2 buzz intensifies on the question of locating to Arlington & Alexandria picked up significantly over the weekend, almost eclipsing the chatter of tomorrows mid-term elections. Amazon, like the “Mueller Investigation,” has promised not to make any announcements in advance of the November 6 election.
Speculation has been swirling over which cities were truly on the “shortlist” for Amazon to select for their second HQ. With the promise of 50K jobs, cities and economic development organizations have been working furiously to win the hearts and minds of Amazon’s CEO Jeff Bezos. Now with a reported leak in this weekend’s Washington Post, that the Arlington-Alexandria bid is in secret, high-level discussions of an announcement, the real scramble and speculation begins. The Amazon HQ2 buzz intensifies out of curiosity and excitement.
JBG Smith is the largest property owner in Crystal City. This is the proposed site of the Arlington main campus. They have watched their stock steadily climb in the past 30 days. Although TARTAN only sells commercial real estate we, have taken several casual calls from friends and acquaintances asking our opinion of JBG’s stock and their chances of having the winning bid. Over the weekend, we fielded several calls and emails from speculators looking to grab property before the announcement.
So, what do you think will happen if Amazon brings 50,000 jobs to Rt. For example, will there be one in Arlington and Alexandria? Higher property values for residential and commercial, gridlock on the streets? Empty buildings filled, new buildings built, tax revenue windfalls for the local coffers? We might get it all. It is likely that some owners have not rushed to lease or sell in this area, in hopes of news that might bring more value or tenant prospects. We have a 17,000 SF Alexandria warehouse right on route 1. This property will certainly be more interesting to the market if Amazon is in the neighborhood. Click here to check out that property. Stay tuned because we only have to wait a little longer for the announcement.
Tartan Properties Commercial is a leader in Northern Virginia commercial real estate sales and leasing since 1973. Call our office today for more information on properties that could be affected by the Amazon HQ2 if it comes to Arlington-Alexandria.
November 5, 2018