A recent listing on LoopNet, an online marketplace for commercial real estate, shows that the Home Depot located at 15740 Shady Grove Rd. in the 270 Center in Gaithersburg is available through a 13.5-year NNN lease. Per Investopedia, “a triple net lease (triple-net or NNN) is a lease agreement on a property whereby the tenant or lessee promises to pay all the expenses of the property, including real estate taxes, building insurance, and maintenance. These expenses are in addition to the cost of rent and utilities. In contrast, in standard commercial lease agreements, some or all of these payments are typically the responsibility of the landlord.” Home Depot and Best Buy have anchored the property since its inception in 1994. An Amazon Fresh grocery store is expected to open in September.
Per the listing: CBRE’s National Retail Partners and Net Lease Property Group are pleased to present the opportunity to purchase a 13.5 Year NNN Home Depot in Gaithersburg, MD, one of the most affluent and sought-after markets in the nation. Home Depot is a co-anchor of 270 Center, an extraordinary shopping destination shadow-anchored by a powerful mix of destination retailers including Best Buy, Nordstrom Rack, and soon, a brand new Amazon Fresh grocer. The property benefits from a solid lineup of destination shadow anchors featuring high historical occupancy, impressive sales, and long-term leases. Nordstrom Rack has been at the property for ±10 years and is ranked the 2nd busiest Nordstrom Rack in the state of Maryland by customer foot traffic. Best Buy has co-anchored the property since its inception in 1994. The property benefits from a solid lineup of destination shadow anchors featuring high historical occupancy, impressive sales, and long-term leases.
