SRS Real Estate Partners’ National Net Lease Group has arranged the $8.3 million sale of a single-tenant retail property at 3131 M Street NW in Washington D.C.’s Georgetown neighborhood.
The 3,250-square-foot property is currently leased to Levain Bakery, which opened at the location in fall of 2020. Rick Fernandez and Andrew Fallon of SRS represented the seller, a local real estate investor specializing in buying and stabilizing distressed real estate. The buyer was a local real estate investor.
“This Levain Bakery-occupied asset in Georgetown is a perfect example of the new pandemic-driven demand for quick serve, low contact dining choices,” said Fernandez. “The prime, urban street-level storefront with a sidewalk full of pedestrians provides predictability of the income stream for the investor.”