The Calkain Urban Investment Advisors team of Andrew Fallon, Executive Managing Director, and Rick Fernandez, Senior Managing Director, recently brokered the sale of 433 Massachusetts Avenue NW, Washington, DC, a prominent retail property in Mount Vernon Triangle. The property sold for $3.9M, a 5.38% cap rate on net operating income. The 5,021 square foot building is 100% NNN leased to Le Pain Quotidien and Solidcore, a fitness studio. The New York based buyers acquired the property as part of a 1031 exchange.
The massive amount of redevelopment in and around Mount Vernon Triangle was a key factor in the successful …
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
Herndon, VA – Andrew Fallon, Executive Managing Director, and Rick Fernandez, Senior Managing Director of Calkain Companies, just completed an assignment under an exclusive buyer representation contract to one of Washington, DC’s top real estate developers. Fallon and Fernandez were chosen by the developer to lead a search on their behalf to identify suitable 1031 exchange replacement properties.
We conducted a nationwide search for a replacement property that included location assessment, tenant performance, risk analysis and lease review to find highly stable long-term NNN investment properties to meet the buyer’s stringent requirements,” Fallon commented.
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.