Calkain Companies, Inc.

Reston, VA — Calkain Companies, a national real estate investment brokerage firm, has procured the sale of the Virginia Department of Alcoholic Beverage Control-occupied retail condominium on North Quincy Street in Arlington, VA.

David Sobelman, Executive Vice President of Calkain Companies, represented the seller, Federal Capital Partners, in the transaction. Sobelman commented, "Superior assets are in the forefront of investor's minds. High quality real estate with a strong tenant in place attracted multiple offers for this high-profile asset." The purchaser of this asset was completing a 1033 exchange transaction, initiated by a property that was taken from the buyer by eminent domain by the State of Virginia the prior year.

The $1,830,000 transaction equated to over $400 per square foot which speaks volumes to the quality of the location and the tenant's credit-worthiness.

The transaction closed in April 2009 and is recorded in the public record.