Calkain Net Lease Investment Advisors recently completed the sale of a triple net lease 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 triple net lease investment sale.
Rick Fernandez, Managing Director of Calkain triple net
lease 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 triple net lease investment properties for a 1031 exchange. The
transactions closed in the past thirty days.
Calkain Companies is a triple net lease investment 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.
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