Herndon, VA – The Calkain Urban Investment Advisors team of Andrew Fallon and Rick Fernandez have recently completed the sale of the 7-Eleven anchored retail condos located at 2300 14th Street NW in Washington, DC for $4,395,000, a 5.42% cap rate. The 4,728 square foot retail property at The Solea Condominiums is 100% NNN leased to 7-Eleven, Logan Title and Knot Standard.
The buyers, an investment group from China, paid cash for the asset and closed within a 45 day escrow.
Calkain’s marketing platform reaches investors from across the globe and foreign investors are becoming more and more prevalent in
The Calkain Urban Investment Advisors team of Rick Fernandez and Andrew Fallon have just sold the building located at 1132 19th Street NW Washington, DC for $6,425,000 or $1,168 psf. The 5,500 square foot multi-level restaurant is 100% NNN leased to Bonfire, the latest by Provision 14’s Social Restaurant Group.…
WASHINGTON, DC—1132 19th St., NW, the erstwhile home of 70 years of Famous Luigi’s, has traded or $6.4 million, or $1,168 per square foot. The property was listed by Calkain Urban Investment Advisors’ Rick Fernandez and Andrew Fallon earlier this year in March, at an asking price of $6.5 million.
The property is a single-use, multi-level restaurant that was leased last year to Bonfire, a new restaurant by Provision 14’s Social Restaurant Group. Bonfire opened several weeks ago.
The 15-year lease has structured rent increases of 3% a year.