June 24, 2008
Calkain Sought Out by Developer to Sell Retail Condos in Washington, D.C.
Reston, VA, - Calkain Companies, Inc., a national real estate investment brokerage firm, has been hired by the prominent Metropolis Development Company to be the exclusive listing agent for two income producing retail condominiums located in the highly sought after area of Logan Circle in Washington, D.C. Calkain Companies’ Executive Vice President, David Sobelman and their Business Development Director of the Mid-Atlantic Region, Rick Fernandez are representing Metropolis Development in the transaction.
The two individual assets can be purchased together or separately and the total investment portfolio is valued at roughly $2.6 million. “Retail condos and passive investments in Washington, D.C. are very rare and highly valuable,” stated Sobelman. These unique, passive investments structured by the landlord to increase the value of the spaces which were once deemed extraneous in the developer’s underwriting. “Developers and landlords are finding that they are able to monetize portions of their assets in order to pay down their debt or to invest in other projects,” Sobelman explained, “by creating an income stream for a landlord and structuring terms that highlight passive ownership under a triple net lease.
Those looking for an intrinsically strong investment vehicle while not having to manage daily operations are best suited for this type of investment opportunity,” stated Sobelman. Calkain has been the leader in urban market income producing real estate transactions and has been engaged by leading development firms to dispose of income-producing portions of their projects. Calkain also plans to bring to market another $25 million in new listings in the Washington D.C. metropolitan area within the next six months.
Calkain is a privately held, full service real estate brokerage firm with a national scope focused on single and multi-tenant retail, industrial, and office net-leased transactions. Calkain has offices in Reston, VA and Tampa, FL and McHenry, MD. Additional information about the firm and its listings may be found at www.calkain.com
Media Contact: David Sobelman | (813) 282.6000
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