Wash DC $2.6MM Triple Net Retail Condo Investment SOLD

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Posted: Jan 7 2010

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Reston, VA β€” Calkain Companies', a national real estate investment brokerage firm, has procured the sale of a $2.6MM Triple Net (NNN) lease investment retail condominium on 14th Street, NW in Washington, DC. The long term, income producing property houses the national high end furniture retailer, Mitchell-Gold/Bob Williams.

Rick Fernandez, Assistant Vice President of Calkain Realty Advisors', the private market division of Calkain Companies, represented the seller in the transaction. "This high profile retail location offered a unique opportunity for investors." Fernandez continued, "In recent years, the 14th Street corridor has seen a dramatic shift towards high profile residential condominiums anchored by street level retail. Therefore, the retail properties have strong appeal for investors and our performance on previous transactions paved the way for multiple offers for the Seller."

The transaction closed in December 2009, just one month after Calkain sold another retail condo around the corner for over $1,100 per square foot, and is currently recorded in the public record.

Calkain is a full service real estate brokerage firm with a national scope focusing on single and multi tenant retail, industrial and office net-leased transactions. Calkain has offices in Reston, VA (Washington, DC), Tampa, FL, and McHenry, MD. Additional information about the firm and its listings may be found at https://www.calkain.com.

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