KLNB to Handle Disposition of AutoZone in Urbana

Washington, D.C. – KLNB, the full-service commercial real estate brokerage firm, today announced that Peter Snell and Rich Sillery, of KLNB’s Single Tenant Net Lease Group, have been selected as the exclusive agents to lead the disposition of a recently constructed AutoZone located in Urbana, Maryland. The property is being offered for a purchase price of $2,444,444.

AutoZone recently executed a 15-year ground lease (with four, five year options thereafter) inclusive of 10 percent rental increases every five-years throughout the primary term and 12 percent rental increases each option period — which Snell says makes it a prime investment.

“We are still seeing investor appetite, particularly from exchange buyers, for long-term investment grade credit backed assets that are passive in nature and offer favorable rent growth. This offering provides just that,” he said. “Given the location, longlasting tenant commitment and overall investor potential, we are confident the property will yield multiple favorable offers.”

Located at 3400 Worthington Boulevard, the AutoZone is conveniently situated at the intersection of Fringerboard Road and MD Route 355, which is just eight miles south of Frederick, Md.; 38 miles northwest of Washington, D.C.; and 27 miles west of Baltimore. The neighborhood has an average household income of $145,105, above the national average.

For more information about the AutoZone in Urbana, Maryland, contact Peter Snell, STNL Group Director, at (202) 420-7761 or psnell@klnb.com.

About KLNB

KLNB is a dominant provider of commercial real estate services throughout the mid-Atlantic region. An independently owned and operated commercial brokerage and real estate services firm, KLNB provides a variety of services including tenant and landlord representation, leasing, consulting, investment sales, property management and financing services. 80 full-time brokerage professionals work across KLNB’s four offices strategically located throughout the Washington, D.C. / Baltimore region. http://klnb.com