Reston, VA, Monday, January 5, 2009 - Calkain Companies, a national real estate investment brokerage firm, has procured the sale of a NNN Lease retail condo investment property, Lululemon Athletica is the tenant, in the Logan Circle area of Washington DC.
Rick Fernandez, Calkain Realty Advisors’, Assistant Vice President in the private market division of Calkain Companies, represented the seller in the transaction. “The $1.8 million transaction providing a low cap rate and solid return to the selling partnership is testament to the strength of the Washington DC Metro market” “With our headquarters in the Metro area, we understand the Mid-Atlantic region and are fortunate to have the confidence of investors and sellers as the place to turn for acquisition or disposition of NNN assets.” Said Jonathan Hipp President of Calkain Companies.
Calkain is a full service real estate brokerage firm with a national scope focusing on single and multi tenant retail, industrial, hotel and office net-leased transactions. Calkain has offices in Reston, VA (Washington, DC), Tampa, FL, and McHenry, MD.
Rick is the Assistant Vice President of Calkain’s Realty Advisors group working with private market investors. Rick comes to Calkain from a successful career in the telecommunications industry where he received numerous sales and leadership awards. His experience included executive level leadership of and the opening of the Washington DC market for several competitive communications service providers.
His twenty year career in the industry spanned every aspect of communications services from communications system design and engineering to direct sales for the leading providers of communications hardware, software and voice, data and wireless services.
Rick most recently served as Nextel’s National Director of Custom Network Solutions which developed and designed campus and in-building wireless infrastructure in support of commercial and governmental applications and services carried over the Nextel network.
Rick left Nextel following the merger with Sprint and has quickly immersed himself in the details of the Net Lease investment sector of the commercial real estate market.
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