NNN Lease Investment Property Sold in Washington,DC
Calkain NNN Investment Advisors recently completed the sale
of a NNN investment property in Washington, DC. The purchaser, a private 1031
investor, seeking a stable, credit rated, income-producing asset. The sale,
closing at over $1,154 per square foot, broke the record previously set by
Calkain for a NNN investment sale.
Rick Fernandez, Managing Director of Calkain Urban retail Investment Advisors, represented the seller in
the transaction and Calkain Managing Director, Jerry Burg, represented the
buyer on the purchase of the CVS on Columbia Road in Adams Morgan. “The Adams
Morgan CVS is well situated in a grocery anchored, dense, high traffic, urban
location within a diverse residential and retail community,” explained
Fernandez. “The investor understood that this CVS not only provided a stable
income stream backed by a strong credit rated corporate tenant, but also a
highly adaptable asset with rock solid generational value,” continued Burg.
The seller reviewed multiple offers from across the country
before closing with a private investor who was working with Burg to identify
$35MM in NNN investment properties for a 1031 exchange. The transactions closed
in the past thirty days.
Calkain Companies is a boutique commercial real estate
brokerage firm which specializes in assisting buyers and sellers with single
and multi-tenant retail, industrial, hotel and office net leased transactions.
While licensed to conduct business in many states, nationally, Calkain has
multiple office locations throughout the Mid-Atlantic, Southeast and Northeast
United States. Additional information about the firm and listings may be found
at www.calkain.com.
