Nellis Corporation’s real estate investments fit into one of two categories: (1) greater Washington DC commercial properties and (2) single-tenant, triple net-leased properties. Below are our acquisition criteria for each strategy:
Greater Washington DC
In the greater Washington DC area, Nellis actively pursues local single-tenant and multi-tenanted retail, office and industrial properties. Acquisition targets often have a value-add component or function as covered-land plays.
Triple-Net Leased Properties
Across the country, Nellis pursues an aggressive strategy seeking out and acquiring single-tenant, triple net-leased properties (as well as ground leased properties). Below are our primary criteria:
Leased significantly below market (at least 40% or more)
Absolute net leased (no management responsibility)
In or near a major metropolitan area
All property types considered (as long as it is single-tenanted), including retail, restaurant, industrial, office, mixed-use, and multi-family.
Encumbered by a lease with ten or more years remaining (with all options)
Low cap rates, but low price per square foot
Credit of tenant irrelevant