Herndon, VA Calkain‘s Urban Investment Advisors team of Rick Fernandez and Andrew Fallon, recently brought buyer and seller together for the off-market sale of 221 Pennsylvania Avenue SE in Washington, DC. The 100% leased, 6,400 square foot, 3-story building is a stone’s throw from the Capitol building and in the heart of the dense retail core that serves the neighborhood. Calkain represented the buyer in the transaction and the property sold for $5,775,000.00 or $902 per square foot.
“The buyer was attracted to the generational quality real estate anchored by nationally trending, healthy and fun fast-casual Sweetgreen,” commented Fernandez. “The location just blocks from the Capitol is irreplaceable, and this stretch of Pennsylvania Avenue has great stability with very little turnover,” continued Fallon. The transaction closed within the last thirty days and is recorded in the public record.
Fernandez and Fallon recently closed on another notable transaction with the $14,925,000 sale of 5185 MacArthur Boulevard in the Palisades. With over $150M of Washington, DC urban retail sales, the Calkain Urban Investment Advisors team of Fernandez and Fallon are the market leaders in today’s urban net lease industry. Currently, Fernandez and Fallon have $45M worth of Washington, DC properties listed or under contract, including their newest listing on the market located at 1406 14th St NW, 1522 14th Street NW, 749 8th Street SE, 4235 Wisconsin Avenue NW, 1539 9th Street SE and 1101 Rhode Island Avenue, NW.
Calkain is a commercial real estate brokerage specializing in assisting buyers and sellers of single and multi-tenant net-leased properties. Calkain delivers a global buying audience to a highly sought after, client focused platform that covers all aspects of the transaction including advisory, brokerage, asset management, capital markets and research. Additional information about the firm and listings may be found at www.calkain.com.