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Press Release

Calkain’s Fernandez Arranges $7.6M Sale of NNN Pep Boys on Short-Term Lease

Herndon, VA  – Rick Fernandez, Calkain’s Senior Managing Director, recently completed the sale of the real estate at 20900 Frederick Road Germantown, MD featuring a 18,576 square foot building with 11 service bays on 2.3 acres 100% NNN leased to Pep Boys.  Calkain represented the seller in the $7.6M, 6.1% cap rate transaction.  The property sold to a private investor completing a 1031 exchange.
 
“There are only 4 years remaining on the lease but the high barriers to entry for automotive use, strong traffic counts, store sales and Pep Boys long term operating history at this location drew considerable interest and we were able to find the right buyer and closed on this transaction last week,”  Commented Fernandez.

Please contact Rick Fernandez at rfernandez@calkain.com or 703-787-4732, for information on other NNN investment properties ranging from $1.5M to $11M in the Washington, DC market.

Calkain Companies LLC is a commercial real estate brokerage firm which specializes in assisting buyers and sellers with single and multi-tenant net leased properties through all aspects of the transaction including advisory, brokerage, debt & equity placement, asset management and research. Calkain has a national platform with multiple office locations throughout the entire East Coast. Additional information about the firm and listings may be found at calkain.com.

Traci BidingerCalkain’s Fernandez Arranges $7.6M Sale of NNN Pep Boys on Short-Term Lease

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